The board of the New York State Thoroughbred Breeding & Development Fund has approved $820,000 in purse enhancements to Finger Lakes Racetrack and the New York Racing Association.
As dictated by statute, Finger Lakes will receive 60% of the enrichment, totaling $492,000, with $328,000, or 40%, going to NYRA tracks.
"This enrichment gives these facilities a much-needed boost to enhance the sport and the betting public’s experience in New York state," board chairman John D. Sabini said in a release.
"The Thoroughbred Breeding & Development Fund’s action demonstrates a commitment to elevating New York’s Thoroughbred racing stature," said executive director Tracy Egan.
The purse enrichment is the result of a revision to the Fund’s 2011 budget, based on increased revenues from NYRA and lower payouts for Breeder and Stallion Awards than anticipated.
The Thoroughbred Breeding and Development Fund, established in 1973, is the regulatory body of New York’s breeding and racing program, distributing more than $40 million per year in incentives, breeder, stallion and owner awards, and purse money for New York-bred horses.
The Fund is financed by a percentage of money wagered Thoroughbred racing in the state and a percentage of VLT monies at Finger Lakes and, in the future, Aqueduct.