| The 2023 Thoroughbred Owner Conference streamed its first panel Tuesday, March 7, with a dive into accounting and tax considerations for Thoroughbred owners. The conference is hosted by The Jockey Club and the Thoroughbred Owners and Breeders Association and presented by Bessemer Trust, Stoll Keenon Ogden, and The Green Group. The panel was sponsored by Mersant International.
The panel was moderated by Gary Falter, project manager for OwnerView, and the panelists were Len Green, founder and chairman of The Green Group; Jonathan Green, a certified financial planner and manager of D.J. Stable; and Aron Yagoda, Thoroughbred owner and a board member of the New York Thoroughbred Horsemen’s Association. The panel covered a broad range of topics, including understanding the cost of ownership, principles of accounting, tracking revenues and expenses, tax considerations, sales, and giving back to the industry. Attendees were able to ask questions through the Q&A link toward the beginning of the discussion and again at the end of the panel. The panel began with a discussion on the general costs of owning racehorses and how to budget. According to Yagoda, to begin you must hire a trainer and understand training costs, which can be about three-quarters to 80% of your monthly bill. “They [training costs] range from $65 a day to $125 a day depending on where you’re racing and what circuit you are racing in, and there are other costs associated with that that you have to take into consideration.” he said. “You are talking about another anywhere from $1,000 to $3,000 a month that constitutes veterinary bills, vanning, blacksmith, travel, and race expenses,” Jon Green said. “There is really not much price difference between campaigning a $5,000 claiming horse or campaigning a graded stakes winner,” he continued. “The expenses are all almost the same. The fixed costs are almost the same. The only difference is if you have a better horse you are going to spend a little more on investing in stakes nominations and maybe a little bit less in vet fees, but otherwise it costs almost the same amount of money.” With regard to tax considerations, Len Green explained some of the differences between owning racehorses and other assets, and some of the different types of deductions and expenses associated with horse ownership. “People who specialize in the business really know how to save your taxes and maximize your deductions, and you really want to be active enough to do each of these things,” Len Green said. “The key to having a chance to make money is to be active and keep records and see where you are and if necessary, pivot and change the way you are doing things.” The session concluded with a discussion about how owners can give back to the industry. “The way that we look at it and try to promote it to our clients is that when you buy a horse, you are buying a horse for that horse’s lifetime. You are not just buying it for that horse’s racing career,” Jon Green said. “If you have an opportunity to repurpose that horse and retrain it to have a second career, we really feel like that’s what you should be doing.” The replay of Tuesday’s panel and previous Thoroughbred Owner Conference panels is available at bit.ly/OVVideos. Nine additional Thoroughbred Owner Conference virtual panels are scheduled for 2023. There is no registration fee for the 2023 virtual conference series, but registration is required. For more information about the owner conference series, including the schedule of panels and registration, please visit ownerview.com/event/conference or contact Gary Falter at 859.224.2803 or gfalter@jockeyclub.com. OwnerView is a joint effort spearheaded by The Jockey Club and the Thoroughbred Owners and Breeders Association to encourage ownership of Thoroughbreds and provide accurate information on aspects of ownership such as trainers, public racing syndicates, the process of purchasing and owning a Thoroughbred, racehorse retirement, and owner licensing. The need for a central resource to encourage Thoroughbred ownership was identified in the comprehensive economic study of the sport that was commissioned by The Jockey Club and conducted by McKinsey & Company in 2011. The OwnerView site was launched in May 2012. |
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Category: TOBA
TOBA Announces Educational Seminars for 2023
LEXINGTON, Ky. – The Thoroughbred Owners and Breeders Association announced today the schedule for its 2023 educational seminars. These events feature various topics for prospective, new, and established Thoroughbred owners and breeders.
The 2023 schedule is listed below:
- March 19-20 – Ocala, Florida
- June 23-24 – Toronto, Canada
- July 27-28 – Del Mar, California
- August 10-11 – Saratoga Springs, New York*
- October 23 – Lexington, Kentucky
*Tentative dates for Saratoga; All others confirmed
“We are excited to announce some great venues for the 2023 educational seminars” said TOBA Director of Marketing, Events & Partnerships Samantha Smith. “We hope to reach more people by expanding the agenda to both ownership and breeding topics at each seminar, as well as offering a variety of locations across the U.S. and Canada.”
Specific topics, speakers, and sponsors for each seminar will be announced individually closer to each event. Each seminar for this year will cover topics pertaining to both Thoroughbred owners and breeders. Possible topics may include, but not limited to: racing and stable management, common training practices, common breeding practices, foaling and farm management, owner and trainer communications, horse selection with a bloodstock agent, common veterinary concerns, nutrition and health topics, partnerships, pedigree theory, conformation analysis, and equine business matters such as accounting and insurance.
Educational seminars are open to both members and non-members, with discounts for members of TOBA or any hosting/sponsor organizations. Meals, materials, and a TOBA gift bag are included with registration.
Pricing is as follows:
- 2-Day Seminar: $295/Non-Member $245/Member
- 1-Day Seminar: $145/Non-Member $99/Member
There will be a special promotion for any individual who attends all five seminars this year. If an individual registers for all seminars throughout the year, they will receive the last seminar free. Registration is available on the TOBA website at: https://toba.memberclicks.net/seminars-clinics
Questions about TOBA’s educational seminars, or inquiries for seminar sponsorship may be directed to Samantha Smith at samantha@toba.org or (859) 276-6793.
The Thoroughbred Owners and Breeders Association (TOBA), based in Lexington, Ky., was formed in 1961 and is a national trade organization of leading Thoroughbred owners and breeders. TOBA’s mission is to improve the economics, integrity and pleasure of the sport on behalf of Thoroughbred owners and breeders. Projects managed by TOBA include the American Graded Stakes Committee, Claiming Crown, Educational Seminars, OwnerView, Owners Concierge, US-Bred and the Sales Integrity Program. TOBA provides international representation for U.S. owners and breeders on the International Grading and Race Planning Advisory Committee, International Cataloguing Standards Committee and International Thoroughbred Breeders’ Federation. Thoroughbred Charities of America (TCA) is the charitable arm of TOBA. TOBA Media Properties, a subsidiary of TOBA, is the co-owner of BloodHorse LLC.
Louisiana TOBA Breeder of The Year
September Calendar of Events from the LTBA
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OwnerView to host Instructional Webinar on Horseracing Integrity and Safety Authority Registration
OwnerView announced today that it has added a panel to its Virtual Owner Conference series with representatives from the Horseracing Integrity and Safety Authority (HISA) to assist owners with the registration process for HISA.
The Zoom webinar will be held on Thursday, June 16, at 1 p.m. ET and last about 60 minutes. Participating in the webinar from HISA will be Lisa Lazarus, chief executive officer; Steve Keech, technology director; Ann McGovern, director of Racetrack Safety; and John Roach, general counsel. The session will include time to submit questions to the HISA team.
The Horseracing Integrity and Safety Act, which was signed into law in December 2020, established HISA as an independent agency to draft and enforce uniform safety and integrity rules in Thoroughbred racing in the United States. The bill goes into effect on July 1, and owners are among the list of individuals who must register with HISA as a covered person prior to this date.
“The passage of the Horseracing Integrity and Safety Act was an important step forward for Thoroughbred racing, and this webinar will enable owners to engage directly with HISA to learn about registration and answer any questions they may have,” said Gary Falter, project manager for OwnerView.
Interested individuals can sign up for the virtual conference at ownerview.com/event/conference or send an email to Gary Falter, gfalter@jockeyclub.com. The webinar will be recorded and made available on the OwnerView YouTube channel for owners that cannot attend the live session.
OwnerView is a joint effort spearheaded by The Jockey Club and the Thoroughbred Owners and Breeders Association to encourage ownership of Thoroughbreds and provide accurate information on aspects of ownership such as trainers, public racing syndicates, the process of purchasing and owning a Thoroughbred, racehorse retirement, and owner licensing.
The need for a central resource to encourage Thoroughbred ownership was identified in the comprehensive economic study of the sport that was commissioned by The Jockey Club and conducted by McKinsey & Company in 2011. The OwnerView site was launched in May 2012.
Nominations Open For Seventh Annual Thoroughbred Industry Employee Awards
Nominations for the 2022 Thoroughbred Industry Employee Awards (TIEA) opened on Monday, May 10, and will close on Friday, July 15. The TIEAs were held in the U.S. for the first time in 2016.
Godolphin, the global racing stable founded by Sheikh Mohammed bin Rashid Al Maktoum of Dubai, is the principal sponsor of the awards in association with The Jockey Club, the National Horsemen’s Benevolent and Protection Association (NHBPA), the Thoroughbred Owners and Breeders Association (TOBA) and the Breeders’ Cup. Godolphin also sponsors the equivalent Stud and Stable Staff Awards in Ireland, Australia, Great Britain and France.
Cash prizes totaling $122,000 will be awarded to winners as well as runners-up in a total of seven categories: Dr. J. David “Doc” Richardson Community Award, Katherine McKee Administration Award, Dedication to Breeding Award, Dedication to Racing Award, Newcomer Award, Support Services and Leadership Award. The Newcomer Award also includes an educational trip to Dubai.
The TIEA is also pleased to announce that our new category sponsors, which lent their support last year, will be returning as sponsors again for 2022. They are Keeneland, Churchill Downs, Hallway Feeds, NYRA, Hagyard Equine Medical Institute, NTRA, along with I Am Horse Racing.
Keeneland has once again agreed to host the Awards Ceremony which will be held on Friday, Oct. 14, in the sales pavilion.
For more information and to nominate online, please go to www.tiea.org.
TOBA National Awards to be held Saturday, September 11, 2021
LEXINGTON, Ky. – The Thoroughbred Owners and Breeders Association announced today the 36th annual TOBA National Awards will be held at Hill ‘n’ Dale at Xalapa in Paris, Ky. on Saturday, September 11, 2021. Hosted by Gabby Gaudet, the evening will include a special live performance by Motown legend Gladys Knight.
The TOBA National Awards honor breeders from 19 states and Canada. Also recognized are the National Owner of the Year and National Owner Finalists, National Breeder of the Year, Small Breeder of the Year, National Broodmare of the Year, Racing Partnership of the Year, Rood & Riddle Sport Horse of the Year, Claiming Crown Horse of the Year, Industry Service Award and recipient of the Robert N. Clay Award.
“We are thrilled to showcase the TOBA National Awards Dinner at historic Hill ‘n’ Dale at Xalapa,” said Dan Metzger, president of TOBA. “Thoroughbred owners and breeders are the lifeblood of our sport and it is our privilege to recognize their outstanding achievements from 2020. The spectacular setting at Hill ‘n’ Dale at Xalapa, along with Gladys Knight, promises to make the TOBA National Awards a unique and special experience for all those who attend. We are very appreciative of the support from John Sikura, Keeneland and all of our sponsors in making this evening possible.”
“We at Hill ‘n’ Dale at Xalapa are proud to host the TOBA awards featuring iconic, multiple Grammy award winner Gladys Knight,” said John Sikura, owner of Hill ‘n’ Dale at Xalapa. “We look forward to celebrating with guests and nominees in a unique setting in celebration of their achievement.”
Tickets will be available online for purchase in the upcoming weeks.
Saving Thoroughbred Racing, A Roadmap
Industry stakeholders urge fellow horseman to come together for a common goal.
Dear Friends & Fellow Horsemen;
Our industry stands at a crossroad; if we continue to accept the status quo, it could very well mean the end of Thoroughbred racing in the U.S. as we know it in the next few years. It’s time for tangible changes to finally put the welfare of our horses and the experience of our owners and racing fans first and foremost. We propose four key areas of reform as detailed below to revitalize our sport. Each of us signing this letter has different perspectives; we may not agree with 100% of every word or every suggestion, but we recognize in the words of Benjamin Franklin, “we must all hang together, or, most assuredly, we shall all hang separately”.
1. Make Thoroughbred racing a truly national game, with uniform rules, regulations, promotion and marketing—coordinated and administered by a league office. Imagine the NBA or NFL operating with different rules in every state. If a touchdown was worth 5 points in California, 6 points in Florida and 8 points in New York, football would be totally dysfunctional. That’s exactly how thoroughbred racing functions today. Rules of the game must be uniform nationwide; medication, claiming rules, entry times, rider safety protocols, whip rules, etc. can no longer vary from state to state or track to track. The logical solution is what currently exists for other major sports; a national racing office run by a board comprised of industry stakeholders (owners, trainers, riders, veterinarians, racetrack owners, breeders sale companies and the Jockey Club), headed by a commissioner of racing with the ability to promulgate and enforce rules of the game nationwide.
2. Embrace national medication regulations. The vast majority of stakeholders strongly support the passage of legislation to provide uniform medication rules and prohibit the use of performance-enhancing drugs. A program run by the U.S. Anti-Doping Agency (USADA) can address issues of both legal and illegal drug use and put U.S. racing jurisdictions in step with international standards. Many of us have different opinions about the use of race day medications but it’s time to get past the endless debates over Bute and Lasix. Whatever standards an independent regulatory agency comes up with, be it limited and strictly regulated race day Bute and/or Lasix or nothing at all, is something we must all be willing to live with for the greater good of our sport.
3. Reform claiming races. All too often, claiming races as presently structured are a method of selling unsound horses. It’s time, both for the welfare of the horses and our public image, to turn claiming into a much-needed marketplace to sell good, sound horses. Here’s one approach utilizing an auction process; After each race is run, bidding on each runner starts at the listed claim price and the horse is sold to the highest bidder (no bids and the horse remains with the current owner). An owner may retain their horse if they don’t like the final bid price by paying the underbidder 20% of the highest bid price.
4. Make ownership a pleasure instead of a hassle. Owners and racing fans are our most important resource and the backbone of our entire industry. The ownership experience needs to be radically reformed to minimize needless hassle and paperwork and guarantee a world-class experience every time an owner visits any racetrack. We need one national license honored in all states. One national Horseman’s Bookkeeper account that can be used at any-all tracks. Guaranteed perks and benefits for all licensed owners (free parking, admissions and programs, premium seating, dining discounts, etc.); every racing day at every venue. It’s time the Sport of Kings starts treating owners as kings instead of as an inconvenience. A high quality ownership experience at every racetrack can fill empty seats with owners, their families and friends.
We submit these as a template for discussion, realizing fully nothing will ultimately be implemented exactly as proposed here. Our goal is to encourage all industry stakeholders to sit down, reach some level of consensus, and come up with a specific, outlined business proposal for a path forward leading to action in each of these vital areas. Everyone in the game has a responsibility to get this right! We live in a different world now and ‘business as usual’ just won’t get it done. Either we get our collective heads out of the sand, grab the reins and take prompt action to bring the Thoroughbred industry into the 21st century or one by one, states will bow to increasing public pressure and outlaw our sport. When properly monitored and conducted, horse racing provides tens of thousands of jobs without mistreating horses and has been part of our social fabric since the beginning of the nation. The current model simply can no longer sustain itself; it’s time to come together and implement changes to finally put the safety of our horses and the total ownership experience first. Let’s get to work!
Thank you!
Ali Rice
Racehorse Stable
Barbara Luna
War Horses at Rose Bower
Becky Thomas
Sequel Bloodstock
Ben Colebrook
Trainer
Ben Taylor
Taylor Made Sales Agency, Inc. Taylor Made Stallions, Inc.
Bobby Bulger
Founder – Monmouth Racetrack Memories
Bradley Weisbord
BSW Bloodstock/ELiTE Race Sales
Brandon Rice
Racehorse Stable
Donna Morejon
Owner – Sunrise Tack
Duncan Taylor
Taylor Made Sales Agency, Inc. Taylor Made Stallions, Inc.
Eddie Kenneally
Trainer
Eddie Woods
Eddie Woods Thoroughbred Training Center
Eric Homme
Party of Five Racing
Frank Taylor
Taylor Made Sales Agency, Inc. Taylor Made Stallions, Inc.
Gary Stevens
Hall of Fame Jockey
George Adams
Housatonic Bloodstock
George Katzenberger
Kenwood Racing, LLC
H. Robb Levinsky
Kenwood Racing, LLC
Jack Czajkowski
Kenwood Racing, LLC
Joe Lewko
Lewko Family Racing
Jennifer Young
Owner-trainer
John B. Madison, VMD
Ocala Equine Hospital
John Hamilton
Former Executive Director
T.O.B.A. and Bloodstock agent for Three Chimneys Farm
Kenny McPeek
Trainer
Founder – Horse Races Now
Lisa Bulger
Founder – Monmouth Racetrack Memories
Mark Taylor
Taylor Made Sales Agency, Inc.; Taylor Made Stallions, Inc.
Niall Brennan
Niall Brennan Stables
Nick & Jaqui de Meric
DeMeric Thoroughbred Sales
Ralph Pastore
Degaetano & Pastore Inc.
Empire Bloodstock
Pat Payne
Taylor Made Sales Agency, Inc. Taylor Made Stallions, Inc
Ron Spatz
Trainer
Sol Kumin
Head of Plains Partners, LLC
Steven Denholtz
Denholtz Racing
TK Kuegler
Wasabi Ventures Stables
Tristan de Meric
DeMeric Thoroughbred Sales
Valery Mastromanaco
DeMeric Thoroughbred Sales
Wendy and John Slocombe
Owner
TCA’s Horses First Fund Supports Backstretch and Aftercare Organizations Amid Pandemic
Monday, March 30, 2020
LEXINGTON, Ky. – Thoroughbred Charities of America’s Horses First Fund is providing funding to backstretch and aftercare organizations working to support the Thoroughbred community amid the COVID-19 pandemic. Established in 2016 by LNJ Foxwoods, the Horses First Fund assists Thoroughbreds and their caretakers in need of emergency aid due to large scale neglect, natural disaster, or other catastrophe.
The Backstretch Employee Service Team (BEST) will receive funding to support their on-site medical clinic at Belmont Park. The Sam Houston Race Park Chaplaincy will receive an emergency grant to provide meal services for backstretch workers at the now closed racetrack. The Horses First Fund will also provide grants to several aftercare organizations throughout the U.S. that have taken in additional Thoroughbreds due to the pandemic or have additional needs. It is expected that more funding will be distributed as further emergency needs are identified. Thoroughbred industry related nonprofit organizations interested in applying for an emergency grant may contact Erin Crady at ecrady@tca.org.
TCA has worked to stay in touch with its grantees throughout this uncertain time. One concern, echoed by numerous grantees, is for the loss of revenue due to cancelled fundraisers and events. TCA is working to create a free webinar that will offer suggestions on how to create virtual events and tips for digital fundraising. Further details about the webinar will be released as they become available.
Emergency grants from the Horses First Fund are only possible because of the support of our generous donors. To join us in our efforts to assist Thoroughbreds and backstretch workers in need of emergency aid please consider a donation to the Horses First Fund. To donate, please visit tca.org.
Thoroughbred Charities of America (TCA) was formed in 1990 to raise and distribute funds to charities in the Thoroughbred industry that provide a better life for Thoroughbreds, both during and after their racing careers, by supporting qualified repurposing and retirement organizations and by helping the people who care for them. In 2019, TCA granted nearly $475,000 to 64 charities working within Thoroughbred retraining, rehoming and retirement; backstretch and farm worker services, research and equine-assisted therapy. Over the last 30 years, TCA has granted over $23 million to more than 200 charities that successfully meet the criteria set forth in its annual grant application. TCA also administers the Horses First Fund, founded by LNJ Foxwoods in 2016, to assist Thoroughbreds in need of emergency aid. TCA is the charitable arm of the Thoroughbred Owners and Breeders Association (TOBA).
TOBA to Host Annual National Awards Dinner on September 8
The Thoroughbred Owners and Breeders Association has announced that the 33rd annual TOBA National Awards Dinner will be held on Saturday, September 8, 2018 at the Woodford Reserve Club at Kroger Field in Lexington, Ky.
The National Awards Dinner honors owners and breeders from 23 states and Canada. Also recognized are the National Owner of the Year and National Owner Finalists, National Breeder of the Year, Small Breeder of the Year, Broodmare of the Year, Rood & Riddle Sport Horse of the Year, Claiming Crown Horse of the Year and recipient of the Robert N. Clay Award.
“We look forward to a special and unforgettable evening of honoring the leading Thoroughbred owners and breeders in North America,” said Dan Metzger, president of TOBA. “Hosting the National Awards Dinner at the University of Kentucky’s football stadium will provide a unique and exciting setting for all of our state and national winners and guests.”
Tickets for the National Awards Dinner will go on sale July 31 and will be available online at www.toba.org or call Meredith Downey at (859) 276-6793.
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