NEWS
Black type minimum to increase to $50,000 in 2008
Posted: Friday, July 13, 2007 12:52 PM
by Pete Denk
The minimum purse value to meet black-type catalog standards will increase from $45,000 to $50,000 in 2008 under guidelines set by the North American members of the Society of International Thoroughbred Auctioneers.
The increase was originally announced last July as one of several changes aimed at maintaining standards of integrity and quality for North American black type.
Carl Hamilton, secretary of the International Cataloguing Standards Committee, said he wants racing secretaries to be reminded of the criteria.
“It’s everyone’s decision if they want their race to get SITA black type or not,” Hamilton said. “We want to make sure everyone is aware of the criteria and then make that decision consciously.”
In order to qualify for SITA black type, a stakes race must:
n close at least 72 hours in advance of its running, have an entry fee paid by the owner, and have a total purse value distributed on the day of the race equal to or greater than the established minimum;
n have all entries be eligible for the purse monies used to determine the minimum purse value for black type or listed status;
n not have restrictions other than state-bred, non-winners of a sweepstakes, sales graduates or stallions’ progeny;
n not contain a preference clause based on criteria unrelated to the quality of the horse if such a clause could exclude any horse of superior quality from competing.
Pete Denk is a Thoroughbred Times staff writer
