Tuesday, January 14, 2020
| min learn
Horse racing in New York State, stalked by way of excessive staff’ repayment premiums up to now, has introduced a singular, high-deductible plan designed to scale back prices.
The New York Jockey Damage Reimbursement Fund stated this system is contingent at the renewal of regulation now in position that establishes a base top class fee of $1,000 and no charges for running shoes for the primary 12 stalls, in keeping with a racing trade information web site.
Running shoes may also proceed to obtain a credit score for begins at one racetrack, which can be utilized to offset the price of the bottom fee and further stall charges, stated Joe Applebaum, president of the fund and the New York Thoroughbred Horsemen’s Affiliation.
The plan is the most recent effort to chop comp prices for an trade that has struggled with accidents and excessive top class prices. Within the ultimate two years, the fund has decreased prices for jockeys and workout riders by way of $4,000 according to instructor and $500 according to proprietor, and has diminished premiums for different staff, officers stated.
The pending regulation, very similar to a measure that was once a part of the state finances ultimate 12 months, will permit $2 million from the handbag cushion to proceed for use to pay for staff’ repayment for jockeys and workout riders.
“We’re depending on our representatives to supply us the equipment we want to make New York state a great spot to race,” Applebaum stated. “With out the facility to make use of trade finances to relieve the price of staff’ repayment, the speed hikes would actually put horsemen into bankruptcy.”