2003 Cal-bred News

HIGHLIGHTS OF THE CTBA BOARDMEETING
MARCH 12, 2003

The meeting was called to order at 10:00 a.m. The president announced that a quorum was present:

Minutes of the February 12, 2003 meeting were unanimously approved.

Presidents Report:

Discussion was held on the legal and practical issues of having slot machines at thoroughbred racetracks. The issues include whether slots might be allowed under California law or whether a constitutional amendment would be required in addition to legislation, and the differences between VLT’s and actual slots. There was further discussion on the possibility of legislation being introduced at the State level, which would allow either slot machines or VLT’s at racetracks in California.

General Manager’s Report:

Doug Burge informed the board that the percentage dividend for breeders and stallion awards for 2002 is slightly better than last year. The breeder award percentage was nearly 16% and the stallion award percentage at close to 14% is the highest in recent years. Awards will be paid by March 31.

A Sunshine Millions review meeting is scheduled for March 16. Certain issues that will be discussed include an increased time between races, the purses and conditions of races, as well as the long-term future of the event.

A recent notification that changes were made to the black type requirements in stakes races that include conditions could affect a small number of existing Cal-bred stake races. The CTBA is waiting to hear back from the International Catalog Standards Committee and the Society of International Thoroughbred Auctioneers in regards to the reconsideration of these recent policy changes.

Treasurer’s Report:

John Barr advised that the January financials circulated with pre meeting material are almost identical to budgeted amounts.

Sales Committee:

There were nearly 500 yearlings nominated for the Del Mar 2003 sale. The CTBA has assisted numerous potential nominators who have inquired on whether their yearling has the marketability to warrant a nomination to the Sale. The quality of horses nominated in regards to pedigree continues to increase each year. Inspections will begin the second week of April, with committee review of inspected horses anticipated to be completed before the May meeting of the Board.

Racing Committee:

Gold Rush, the “Spring Celebration of California Racing” featuring 1.3 million in purses, will be held on Saturday, April 26. A new race added this year is the $150,000 Tiznow Stakes at 7 ½ furlongs for horses 4 & up. The inclusion of this race for older horses on the dirt adds to a well-balanced card with many stakes opportunities for Cal-breds.

Cal Cup Committee:

Cal Cup Day will be held on November 8th, two weeks after the Breeders’ Cup. This will allow California breds to possibly compete in both events. The Cal Cup committee is discussing potential promotional giveaways for this year’s event, including drawings for automobiles.

Legislation Committee:

The American Horse Council is dealing with the issue of 30% withholding of federal income tax on races that attract international interest. The tax appears to put United States
based tracks at a competitive disadvantage with tracks located outside of the country. Favorable legislation has been introduced.

State legislation that has been introduced that effects racing includes, the ability of fairs or other associations to put in another satellite location; eliminate the limitation on the number of race days that an imported signal can be received in the state, such as import of a signal on an otherwise dark day; and a change in the law on the payment of incentive awards on out of state races that feature Cal-breds, such as the sunshine Millions and Great State Challenge. Also, TOC is sponsoring legislation that mandates a distribution of 20% of charity day’s proceeds to horse retirement facilities.

Membership Committee:

President, Dan Schiffer, has given the committee a new mandate. The Committee should review or survey members needs in order to ascertain if the Association could be more effective in communicating the benefits of being a member.

Meeting adjourned: 12:30 p.m.