SHAKOPEE, MN – As the winter rolls along in Minnesota, blanketing the state in a foot or more of snow, Canterbury Park continues to make tweaks and adjustments to the coming 2019 season.
Monday Canterbury announced a trio of incentives to encourage owners and trainers ship and race at the Shakopee oval with shipping loans, bonuses for every starter in the first month of the meet and an increased mandatory purse payout. The Canterbury Park press release outlined the incentives:
Incentive #1 – $250 Guaranteed Thoroughbred Purse Payment in Overnight Races During the 2019 Racing Season. In 2019, every thoroughbred starter in all overnight races will be guaranteed 1% of the purse or $250, whichever is greater with the intent of providing purse money to cover a greater percentage of race-day costs.
Incentive #2 – $500 Per Start Participation Incentive for all Thoroughbreds in Condition Book #1. Every thoroughbred starter in all overnight races during the first condition book (May 3 – June 2) will earn an additional $250 participation bonus. This participation incentive will be paid for each start a thoroughbred makes in an overnight race throughout the entirety of condition book #1. Therefore, a thoroughbred is guaranteed to make a minimum of $500 per start between May 3 and June 2
Incentive #3 – $250,000 Canterbury Park Shipping Loan Program. Canterbury Park will again offer a shipping loan program to qualified applicants who arrive prior to the start of the 2019 racing season. Shipping loan applications will be due with stall applications and will be reviewed by the stall allocation committee. Upon review, the committee will authorize up to $25,000 per owner to cover the cost of horse transportation to Canterbury Park. The loan will be repaid through an agreement between the successful applicant and Canterbury Park. Full terms and conditions are available with the 2019 stall application.
According to statistics kept by The Jockey Club, the North American registered foal crop has decreased by nearly 50% since 1990: 44,133 to an estimated 22,400 in 2017 resulting in a shortage of horses available to race. The dearth of horses combined with an extension of the lucrative Oaklawn racing season until Derby weekend which pushed back of the traditional opening for Prairie Meadows from April 26 until Derby weekend has led to a competition among race tracks to draw stables.
“Competition for horses is fierce across the country. Shipping horses from meet to meet is a cost of doing business but it is also an upfront cost that can create a cash flow challenge,” said track President Randy Sampson. “With the loan program we are looking to erase that barrier, help trainers ship their stock to Canterbury, and with the purse structure here, repay that loan throughout the meet.”
Canterbury is looking to build off the success of last year’s incentives heading into its 25th season of racing under the current ownership that brought Canterbury Downs back from the dead, reincarnated as Canterbury Park.
“We are thrilled to celebrate a great milestone for Canterbury Park with our 25th live racing season under current ownership,” Sampson said. “We are working hard in cooperation with our horsemen to provide incentives for horses that are ready to run and make racing at Canterbury Park a more appealing option for stables of all sizes from throughout the country.”
