Black-Type Minimum Raised To $40,000

The minimum purse value for black-type stakes races in North America will increase to $40,000, beginning January 1, 2004, it was announced today by the Society of International Thoroughbred Auctioneers (SITA).

The North American representatives of the International Catalogue Standards Committee (ICSC) recommended the $5,000 increase and SITA ratified the recommendation.

The black-type minimum was increased, according to the two organizations, in order to keep pace with the rising purse structures at tracks nationwide.