ASR Sweepstakes to Receive Over $120,000 Boost in Prize Money
Tuesday, April 24, 2007
Lexington, Ky. – The American Saddlebred Registry (ASR) Sweepstakes will be awarding over $120,000 in additional prize money, available to Kentucky-bred horses thanks to the state’s Breeders Incentive Fund. The Kentucky legislature enacted the Breeders Incentive Fund in 2005 to encourage breeding horses of all breeds in Kentucky. The fund takes a portion of the sales tax generated through stallion service fees and returns it to the breeders.
Beginning in 2008, Kentucky-bred American Saddlebreds nominated to compete in the ASR Four-Year-Old Sweepstakes events (horses must be nominated as three-year-olds) will receive payouts from the Breeders Incentive Fund as added prize money based on the highest placed eligible Kentucky-breds in each division. The ASR Four-Year-Old Sweepstakes events held annually are in the five-gaited, three-gaited, fine harness, and park pleasure divisions. The available Incentive Funds will be divided equally among the divisions. Of the money in each division, 70 percent will be awarded to the breeder and 30 percent will be awarded to the stallion owner.
Eligibility for the added prize money is based on the Kentucky-bred criteria, which are as follows: a horse registered by the American Saddlebred Registry, foaled in Kentucky, sired by a stallion standing in Kentucky at the time of service, and bred by a resident of Kentucky (breeder is designated per ASR rules).
The Kentucky Horse Racing Authority (KHRA) recently approved a breeder incentive funding formula expected to spread over $1 million across nine different non-racing breed associations to promote growth of the equine industry in Kentucky. Funding for the Kentucky Saddlebred Owners and Breeders Association (KSOBA) for the 2006 fiscal year has been stated at $120,919. The KSOBA, a Charter Club of the American Saddlebred Horse Association, is taking the lead in communicating with the KHRA and the Kentucky Equine Education Project (KEEP) on behalf of the American Saddlebred community in Kentucky. Melissa Moore is president of KSOBA. Membership in KSOBA is encouraged for all Kentucky Saddlebred owners and breeders.
|