Thoroughbred Racing Down on Its Luck

The world of Thoroughbred Racing was shocked this past week to hear that Thoroughbred Times had closed its doors and filed bankruptcy. How could this happen? Thoroughbred Times has been one of the premier Thoroughbred racing magazines for decades. It was first class, top shelf, Kentucky Blue Grass. It was the perfect gift for the Thoroughbred racehorse owner, trainer, enthusiast, and fan.

Added to this dismal fact, world class Thoroughbred breeding farm owners and their families are closing the barn doors for good and getting out of Dodge. Gone are the days of Secretariat's home "The Meadow." For the record, those that know the history of that farm and others just like it know that the business was in trouble back then. This is nothing new. If it weren't for Secretariat, that farm would have been on the auction block too.

It's a tough business. Ask the breeder, the owner, ask the vet. Have negative headlines and commentary such as the articles in the New York Times taken a toll with all their talk of abuse, illegal drugs, and unethical practices? Those in the racetrack business say "It ain't so." But in all honesty, where there is smoke there is usually fire.

New York Governor Cuomo has pulled the plug on the New York Racing Association. The NYRA will no longer operate as a state run not-for-profit business and Aqueduct, Belmont, and Saratoga racetracks may very well end up in the hands of the highest bidder. Is this a bad thing? Time will tell. Some say it can't get any worse than it is now. Scandals plague charities, scandals plague Wall Street. Corruption is everywhere.

But how will this work? How will privatizing New York Racing affect the five and ten-horse trainer, the one- horse trainer? How will this affect who gets stalls? Will the dreamers end up locked outside the pearly gates in a proverbial nightmare? You had a bad year last year, you're out. We stand to make more money from your friend. He or she had a good year.

Think about it. From a strictly business aspect what will happen when you take away the not-for-profit benevolence at the helm? I'm not talking about not making money. I'm talking about the decision making at the top having bottom-line profits sitting at the head of the table. Will trainers have to start paying for their stalls? Will they have to pay to park their trailers, their trucks? Will veterinarians have to pay a fee to practice on the backside? What about the blacksmiths? Will they have to pay a cover charge every time they pull onto the grounds? Will each race have an entry fee? How will the everyday horseman contribute to the new profit margin?

The pressure will be on. Profit is the bottom line. And this, in a business that many say is already too hard-hearted at the expense of the horse.