The New York Breeding & Development Fund (the Fund) announced on Saturday that there will be a 50% across-the-board increase in breeders’ awards for both New York- and non-New York-sired horses in 2012, and substantial increases in the earnings cap for each category.

Currently, for all races run in New York State, New York-sired New York-breds earn 20% of the winner’s portion of the purse for first place, and 10% for second and third. In 2012 the awards will increase to 30%, 15% and 15%, respectively. The current levels for non New York-sired New York-breds will increase from 10%, 5% and 5% for first, second and third to 15%, 7.5% and 7.5 %.

Additionally, the Fund will increase the earnings’ cap for New York-sired New York-breds in 2012 by 300%, from $10,000 per award to $40,000. The cap for non-New York-sired New York-breds will go from $10,000 to $20,000 per award, up 100%.

New York Thoroughbred Breeders, Inc. Executive Director Jeffrey Cannizzo said, "Raising the breeder's awards percentages is yet another message to breeders across the country that New York is open for business and the incentives and purses here are up for grabs. If you have mares and are contemplating the move, simply take a look at the numbers: 600-plus restricted races with $35M-plus in state-bred purses and an incentive Breeding Fund worth upwards of $17 million in 2012.”

Cannizzo continued, “Raising the awards by 50% across the board will further increase the net worth of New York-bred foals and hopefully get more cash back into breeder and owners hands.  We took an additional stride towards rewarding excellence by raising the cap on Breeders’ Awards.  Now the sky is virtually the limit for breeders whose horses are winning purses of significant value. They will be rewarded for excellence.  There is endless opportunity here with great upside for every class of breeder."