Breeders' Cup reverses decision to cut purses
Posted December 16, 2008 10:00 pm
LEXINGTON, Ky. - The Breeders' Cup has reversed its decision to cut funding for stakes races as a cost-saving move.
A news release Wednesday announced the change, citing complaints from the breeding industry about the loss of funding. Breeders' Cup chairman William S. Farish said in the release that the organization will use a portion of its reserve funds to pay for the stakes programs.
The initial $4.5 million cutback announced last week would have affected 121 stakes races for Breeders' Cup-nominated horses at about 40 racetracks. It would not have affected the purse size of the Breeders' Cup World Championships, set for next November at Santa Anita in Arcadia, Calif.
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