Calder announces reduction in overnight purses

Calder has announced a 12 percent aggregate

reduction in overnight purses beginning Friday. Minimum

overnight purse levels will be at $10,500. Stakes purses will reduce slightly

during the Tropical meet without elimination of stakes races or changes to

grades. The revised total Tropical Stakes program of restricted and

non-restricted stakes is valued at $2.5 million.

This necessary purse cut is a result of overlapping race

days in south Florida in conjunction with the State of Florida's abrupt change

in historic interpretation of statutes pertaining to the hosting of in-state simulcasting signals.

Since full card simulcasting began in Florida, purses

generated by in-state wagering on Thoroughbred racing were required to be paid

to horsemen competing at the racetrack currently running live. Historic

qualification for a live race meet only allowed simulcasting during a live meet

which consisted of three live race days a week.

"Purse dollars reflected in this cut have not evaporated," Vice President and

General Manager of Racing John Marshall explained. "The State's delay in

addressing the issue enables purse dollars earned today to shift to other

racetracks in the state, to be withheld from horsemen who are actually running

live races, and to be paid in a future race meet."

This policy permits purse dollars to be accumulated through

the summer and fall by Tampa Bay Downs and be paid to horsemen later in the year

when Tampa conducts its live race meet. The change in interpretation also

recognizes Gulfstream's two-day-a-week race schedule as a qualifying live race

meet, which also diverts purse dollars from Calder.

"Neither Calder nor Gulfstream's racing product can sustain

existing purse levels while overlapping without purse reduction or independent

subsidy," Marshall added.

Live racing at Calder continues Fridays through Sundays

with a 12:50 p.m. (EDT) post time that changes to 12:30 p.m. beginning September 1, and remains available at pari-mutuel locations nationwide.

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