News & Stats

News

Update on Governor's Cup and Three Diamonds Status

Thursday, February 7, 2019

In response to Tuesday's announcement regarding the cancellation of the Governor's Cup and Three Diamonds stakes several of last year's contributing sponsors have indicated that they would renew their support for the 2019 season. 

 

As a result and with the February 15 deadline looming, The Meadowlands will accept nomination payments on those stakes while continuing to seek sponsorships. A decision on the fate of the stakes will then be made by early March.

 

The unfortunate truth is that the entire stakes sponsorship program is down significantly from 2018 and the purse supplement granted by the NJ Legislature does not allocate any funds for the Grand Circuit stakes.

 

The Meadowlands welcomes those who may be interested in becoming stakes sponsors for 2019. Please contact Vice President of Sponsorships Sales Jason Hall who may be reached via email at JHall@TiogaDowns.com or by phone at 607-972-6526 .

 

In the interest of clarity as to the distribution of the allocation and the measures that will be used to determine if the subsidy will be continued beyond the current fiscal year, NJ Senate Bill 2992 is available in its entirety from this link:
https://www.njleg.state.nj.us/2018/Bills/S3000/2992_R2.HTM

 

The language directing the use of the supplement is clear; 

 

"There shall be appropriated out of the General Fund of the State in the current fiscal year 2019 and in each of the four fiscal years thereafter $20,000,000 annually to the New Jersey Racing Commission to be used for horse racing purse subsidies.  These amounts shall be allocated by the New Jersey Racing Commission equally between the thoroughbred industry and the standardbred industry.  Of the funds allocated to the thoroughbred industry, 100 percent shall be allocated to Monmouth Park overnight purses.  Of the funds allocated to the standardbred industry, 60 percent shall be allocated to Meadowlands overnight purses; 16 percent to Freehold overnight purses; 12 percent to the New Jersey Sire Stakes purses; 6 percent to purse bonuses for New Jersey sired horses; and 6 percent for breeders awards purses."

 


add comment