Despite reports, KYSS funds appear safe

Despite published reports to the contrary, although revenue going to the Kentucky Standardbred Breeders Incentive Fund will be reduced significantly in 2010, purses for the Kentucky Sire Stakes (KYSS) program appear to be on safer ground. There is optimism at the state’s racing commission that the eight finals for 2 and 3 year olds that are raced at The Red Mile will still carry individual purses of $300,000.

The fund comes from the six-percent sales tax on stallion fees for all breeds, which is expected to decrease approximately 30 percent next year because of lower stud fees. Although Standardbred awards are projected to possibly drop from $2.4 million in 2009 to $1.4 million next year, Kentucky Horse Racing Commission deputy executive director Marc Guilfoil said he is optimistic that current KYSS purse levels will remain the same.

According to Guilfoil, money has been put aside every year since the program was implemented in 2006 to avoid any possible future shortfall.

“We think we’re ahead of the curve, but the economy is worse than what people predicted it would be,” said Guilfoil. “We’re going to have to re-evaluate the Sire Stakes program but since we’ve always kept some money back—we’ve been very frugal with our money—and staying ahead of the curve, I hope things will stay the same.

“We’ve looked at the Sire Stakes program and we want to keep it similar to what it is, and we figure we have enough money to carry it through to 2011, hoping then we’d have some form of alternative gaming to pick up the ball from there. I feel we have the money to carry it out as we were very conservative with our numbers.”

Guilfoil said a meeting is scheduled for early December to make any final determination for the 2010 KYSS.

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