| Kasept |
03-06-2010 11:10 AM |
New Jersey plan: high risk, high reward
By Matt Hegarty
Horsemen and racetracks in the Northeast are anxiously waiting to hear whether the state of New Jersey plans to press forward with a plan that would triple purses at Monmouth Park during a boutique 50-day race meet this summer, a high-risk proposal that could have dramatic effects on the racing landscape.
Although the plan is subject to change and may not even be implemented, many New Jersey officials who support the proposal call it a potential "revolution." Under the proposal, Monmouth Park would offer $1 million in purses each day - tops in the U.S. - while holding live racing only on days the track can expect to draw thousands of casual customers from the throngs that surge to the Jersey Shore during summer Fridays, Saturdays, Sundays, and holidays. The meet would run from late May until Labor Day and most significantly affect meets at Belmont Park and Saratoga Race Course by drawing horses from the two New York tracks.
The proposal underlines dramatic changes taking place in Thoroughbred racing as a result of precipitous drops over the last 18 months in handle, purses, and the foal crop. To stand out on a national landscape cluttered with racetrack-casinos offering subsidized purses and extended live meets, many racing officials say, non-subsidized tracks will have to adopt plans similar to the Monmouth Park proposal, even if it means disrupting traditional circuits.
"We need to figure out ways for horseracing to survive, and not only to survive, but ways for horseracing to thrive in New Jersey," said Tom Swales, the president of the Thoroughbred Breeders' Association of New Jersey, an organization involved in the negotiations over the 2010 Monmouth Park meet. "This is one avenue."
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