Thursday, April 14, 2011

At its meeting today, the Breeders’ Cup Board of Directors voted Tom Ludt, President of the Thoroughbred racing and breeding operation Vinery Ltd., as Board Chairman and moved toward the elimination of race-day medications in the Breeders’ Cup World Championships.

Ludt succeeds William S. (Bill) Farish, Jr., who stepped down at today’s meeting after serving a five-year term. Ludt, who has been a Director since 2009, will serve a two-year term. Farish will remain on the board as a Director.

“Being elected Chairman of the Breeders’ Cup is both a great honor and significant responsibility,” said Ludt. “I believe the innovations of the last few years, including our expansion to two days and 14 races and our continued focus on the international aspects of our competition will serve the Breeders’ Cup well as we strive to find new ways to strengthen the organization and our game as a whole.”

“I have enjoyed my five years as Chairman overseeing a period of remarkable growth and expansion of the Breeders’ Cup program on a global scale,” said Farish. “It has been a privilege to serve our nominators, whose continued funding and support have been invaluable to our organization and our industry.”

The Breeders’ Cup, which has the highest standards of security, veterinary review and pre- and post-race testing in US racing, also endorsed in principle the recently announced recommendation of the Association of Racing Commissioners International (RCI) to eliminate the use of race-day medications in North American racing and decided to appoint a sub-committee with the objective of developing a plan and a timetable for the elimination of race-day medication in the Breeders’ Cup World Championships.

In other actions, the board extended the provision of the $400 nomination discount for North American nominators. North American foals by Breeders’ Cup nominated stallions may be nominated online at the discounted price until midnight August 1. The nomination price will be $500 per foal from Aug. 1 through Oct. 15, and $1,500 for late nominations which will conclude on Dec. 15.

The board also approved the 2010 Financial Statements submitted by the Finance and Audit Committee. The statement will be posted on www.breederscup.com.