The Thoroughbred Breeders' Association of New Jersey announced Jan. 21 that it has reached a definitive agreement with Darby Development, the permit holder at Monmouth Park, to support an amended bill that protects Thoroughbred racing and breeding in New Jersey.
The amended bill, which will be introduced in the upcoming legislative session, explicitly states that the minimum number of Thoroughbred race dates cannot be reduced to 25 unless the New Jersey Thoroughbred industry fails to receive a $10 million purse subsidy from the State of New Jersey. Furthermore, if the purse subsidy is reduced to $5 million, the minimum number of Thoroughbred race dates can be reduced to 40.
"The Thoroughbred Breeders' Association of New Jersey will continue to work in lockstep with Darby Development and the New Jersey Thoroughbred Horsemen's Association to pursue additional revenue streams to strengthen purses and expand the New Jersey-bred incentive program," said Rory Huston, president of the TBANJ. "We are committed to defending an industry that generates a $780 million economic impact statewide and supports thousands of jobs across the Garden State."
"There have been far too many negative and unfounded comments on social media over the past two weeks regarding Dennis Drazin, head of Darby Development. These claims are simply untrue and need to stop," TBANJ executive director Michael Campbell said. "Without Dennis' commitment to securing the future of Monmouth Park and bringing new revenue to an industry operating in one of the few states without casino gaming or historical racing machines to support purse structures, New Jersey's equine industry would be in far worse shape today.
"The New Jersey Thoroughbred Horsemen's Association, together with Dennis Drazin, assumed day-to-day operations of Monmouth Park to protect and preserve Thoroughbred racing and breeding in New Jersey," Campbell added. "Without Dennis Drazin's leadership, dedication, and tireless efforts, Monmouth Park would not be operating today."
This press release has been edited for content and style by BloodHorse Staff.
