Breeders' Cup must raise the purses for its championship-day races

Breeders' Cup races are more important than ever, but you would not know that from their purses. While most of the important races in this country and around the world have had their purses increased, purse money for four of the Breeders' Cup races are the same as 16 years ago. They are in danger of becoming second-rate races in monetary terms. It is time for Breeders' Cup Ltd. to increase the purses for all championship-day races to reflect their importance on the racing calendar.

When the Breeders' Cup was first conducted in 1984 at Hollywood Park, purses totaled $10-million, with five of the seven races carrying $1-million purses, the Breeders' Cup Turf (G1) at $2-million, and the Breeders' Cup Classic (G1) worth $3-million.

The Breeders' Cup Classic was the richest race in North America in its first running, and the Turf was the second-richest race. Of the top nine richest races in North America in 1984, Breeders' Cup races filled seven of the spots. The other two races rounding out the top nine were the Hollywood Futurity (G1) and the Arlington Million Stakes (G1), both worth $1-million.

The Futurity and the Million actually offered larger first-place purses than the five $1-million Breeders' Cup races because the Breeders' Cup races that year paid just 45% of the total purse to the winner. The Hollywood Futurity was worth $627,000 to the winner, and the Million paid $600,000 to first.

Since that inaugural running of the Breeders' Cup, the average purse in North America has more than doubled, by 108%, with total purse money distributed increasing 68%, to $1-billion. The seven Breeders' Cup races in 1984 distributed 7.9% of all North American stakes money.

Today, Breeders' Cup day offers a total of $13-million in purses. Breeders' Cup added the $1-million Filly and Mare Turf (G1) last year, bringing its championship-day events to eight. The Classic now sports a $4-million purse, raised by $1-million for the 1996 running in response to the inaugural Dubai World Cup in March of that year, which offered a $4-million purse. The Distaff was raised by $1-million in 1998. The $13-million in purses in 1999 represented 5.5% of the stakes purses for the year.

In 1999, the three richest races in North America were Breeders' Cup events, but the other Breeders' Cup races are falling down the scale. The $1-million Breeders' Cup races (Juvenile [G1], Mile [G1], Juvenile Fillies [G1], and Filly and Mare Turf) fell to 15th or lower on the list of richest races in North America. The only reason the Sprint (G1) remained in the top ten was due to the change in Breeders' Cup rules that dictates supplemental money now goes into the purse rather than into the Breeders' Cup Ltd. general fund. Last year's Sprint was worth $1,099,200.

North American races with larger first-place purses than the $1-million Breeders' Cup races last year were the Canadian International Stakes (Can-G1), Kentucky Derby (G1), Pacific Classic Stakes (G1), Atto Mile Stakes (Can-G1), Belmont Stakes (G1), Travers Stakes (G1), Preakness Stakes (G1), Santa Anita Handicap (G1), Jockey Club Gold Cup Stakes (G1), and Haskell Invitational Handicap (G1). The $827,250 Stephen Foster Handicap (G2), the 20th-richest race by total purse in North America last year, offered a first-place purse of $512,895, almost equal to the $520,000 winner's share of the $1-million Breeders' Cup races that have no supplemental nomination fees added to their purses.

Though the Breeders' Cup races are declining in monetary prestige, Breeders' Cup Ltd. has sufficient capital reserves to liberally assist operations of the National Thoroughbred Racing Association (NTRA). With the Breeders' Cup Ltd. and the NTRA about to merge some of their operations, Breeders' Cup Ltd. has pledged some $8-million to the NTRA to reduce that organization's growing deficit, said to be approximately $5-million.

Merging some of the two organizations' operations-including property, business, marketing, and administrative functions-most likely means the Breeders' Cup, the organization with the money, will be absorbing a substantial part of the overhead.

It is time for the Breeders' Cup, which is supported by the contributions of breeders, to tap its well-endowed bank account and raise the purses for the championship-day events to make the purses commensurate with the races' prestige.