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Assurance on funding structure allays concern


Dear consignors, vendors and breeders,

Despite having reservations about how equitably or not the Yearling Bonus scheme will be funded, we are prepared, on the assurance given to us, that the funding structure will be revisited next year to try to compromise on a fairer and more equitable basis, to give our full support to the current scheme after getting assurances on how the bonus pool will be distributed.

It was our concern that the owners of the five-, six- and seven-furlong winners in the months of April, May, June, July and August would not have enough opportunity to win bonus prizes.

Racing Post Yearling Bonus Logo

We felt that it was imperative that the Yearling Bonus should try to achieve what everyone in the bloodstock and racing industry is hoping for; to stimulate the yearling sales market not only this year and next, but thereafter as well. Thus it was essential for the scheme to have the maximum impact next year to boost the yearling sales of 2010.

The debate, discussions and agreements that have taken place this week have been very important, as the overwhelming response that we received from both sides of the Irish Sea showed that there were major concerns over certain issues, but we are pleased that we have reached a position that enables us to fully support the Racing Post Yearling Bonus.

We know that it, with maximum uptake, achieve what each and everyone of us in the bloodstock and racing industry desires – a better and stronger industry that will gain the benefit of such help over the years to come.

The bonus pool will, hopefully, contribute greatly to boost prize-money. This, added to the fact that all stallion owners, individual stallion shareholders, and indirectly, all breeders, contribute a huge amount of money each year in various ways, by significant contributions to the European Breeders' Fund, together with race sponsorship and various levies, is testament that all breeders and vendors contribute enormously on various levels to boost prize-money to help boost the industry by self-help.

Liam Cashman, Rathbarry Stud, Fermoy, County Cork
Gay O'Callaghan,
Yeomanstown Stud, Naas, County Kildare
Tony O'Callaghan,
Tally-Ho Stud, Mullingar, County Westmeath

 

 

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