NTRA, Breeders' Cup reach new operating agreement

The National Thoroughbred Racing Association (NTRA) and Breeders' Cup Limited

have reached a new operating agreement, the organizations announced Wednesday.

Under terms of the agreement, which runs through 2008, the two organizations

will continue to work jointly on television, marketing, public relations and

sponsorship initiatives and continue to share offices and administrative

functions. However, the organizations will have separate budgeting and

accounting functions and separate chief executives, as was the case from

2001-2004.

"The two boards and various committees of those boards have worked tirelessly

on behalf of the constituents they represent to finalize the details of this

agreement," NTRA Chairman Craig Fravel said. "The NTRA looks forward to

continuing to work with the Breeders' Cup to maximize opportunities to grow

interest and awareness of Thoroughbred racing."