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MARYLAND PURSES TO BE ALTERED JANUARY 1
In 2022, the Maryland Thoroughbred Purse Account (MTPA) had accumulated a substantial surplus due to COVID-19 and several racetrack closures, so purses were raised to return that surplus to horsemen.
Unfortunately, the increased contributions to the Maryland Jockey Club to support our year-round racing schedule in 2023 (and going forward) and the substantial assessment from HISA have created a drain on the purse account, necessitating a purse cut. The Maryland Thoroughbred Horsemen's Association and Maryland Jockey Club have agreed to implement a slight reduction of approximately 9% in purses beginning in 2024 to offset account for these projected changes.these projected expenses.
The Laurel Park winter meet is scheduled to begin Friday, Jan. 5. The first condition book, which is available on Equibase, reflects the new purse values.
The Purse Committee, comprised of members of the MTHA and MJC, regularly tracks projected revenues and expenditures throughout the year and unanimously recommended the a roughly 10% reduction in overnight purses, a $500,000 reduction in stakes purses in 2024, and a 2024 live racing schedule of 156 programs for Laurel and Pimlico. The MTHA Board of Directors at its meeting in late November approved the recommendations.
The Laurel Park winter meet is scheduled to begin Friday, Jan. 5. The first condition book, which is available on Equibase, reflects the new purse values. MTHA and 1/ST Racing (The Stronach Group) are continuing negotiations on a new live racing agreement for the new year and expect to have a deal worked out soon.
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With the approval of legislation that authorizes the redevelopment of Pimlico Race Course and creation of a not-for-profit operator under the Maryland Thoroughbred Racetrack Operating Authority, the planning process for operations after Jan. 1, 2025, has hit high gear.
Maryland Thoroughbred Horsemen’s Association Executive Director David Richardson met with horsemen and employees at Pimlico Race Course April 26 to discuss plans by Maryland Jockey Club to transition workers and horses later this year to Laurel Park as part of the ongoing plan to redevelop Pimlico.
