New Purse Requirements for Graded Stakes

From TOBA
LEXINGTON, Ky. (Aug. 12, 2013) -- The Thoroughbred Owners and Breeders Association’s American Graded Stakes Committee (AGSC) announced today new minimum purse requirements for U.S. Grade I and Grade II stakes races in 2014.

Minimum purse levels will be increased by $50,000 for both Grade levels to $300,000 for Grade I stakes races and $200,000 for Grade II stakes races.  Minimum purses for Grade III, Listed and grade-eligible stakes races will remain at $100,000, $75,000 and $75,000, respectively, for 2014.

“There had been no raise in the purse minimum for Graded Stakes for several years and the committee felt it was important to have higher purses for our top tier races,” said Dr. J. David Richardson, chairman of the AGSC.  “Many non-stakes races now have purses comparable to Graded races and we believe our best races should be set apart from the rest.  With the declining foal crops we may see a movement toward somewhat fewer but more valuable Graded races.”

The AGSC intends on increasing the minimum purse level on U.S. Grade III races to $150,000 in 2015.  Listed and grade eligible races will undergo an analysis to determine if any change should be made for 2015.