Jockeys' Guild Signs New Contract With Matrix Capital

The board of directors of the Jockeys' Guild has entered into a three-year management and consulting contract with Matrix Capital Associates and Dr. L. W. Gertmenian.

"As a demonstration of our confidence and as a show of appreciation for the hard work Dr. Gertmenian and his staff have shown, the b oard has signed a new three year contract which extends through March 2006," said Tomey Jean Swan, chairman of the board for the Jockeys' Guild. "During past two years, Dr. Gertmenian and the Matrix staff have set in-place a road map of the Guild's future and its increasing importance in the industry."

A professor of economics at Pepperdine University, Gertmenian began handling Guild business after the organization's national manager retired and its regional directors were released in July 2001. Matrix Capital is a business and management consulting firm based in Monrovia, Calif.

A release from the Guild Wednesday announcing the new contract noted that Matrix Capital is credited with the "financial turnaround of the Guild, as well as, re-establishing its family group health insurance plan, increasing active membership by over 65%, creating the Disabled Jockeys' Endowment, and developing an annual fundraising event in conjunction with Churchill Downs, Inc.

"We are delighted to be working for the Jockeys' Guild," Gertmenian said in the release. "The first two years of our relationship has presented many challenges and successes. As we continue down the path of reorganization, I know we will be able to achieve the goals set forth in December (at the Guild's annual assembly)."