01/05/2010 1:00AM

Bassett resigns from BC board

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James E. "Ted" Bassett, the influential racing-industry executive, has resigned from the Breeders' Cup Board of Members and Trustees, the Breeders' Cup said on Tuesday. Bassett, the president of the Breeders' Cup from 1988 to 1996, has served on the board for two decades.

"I leave the board in full comfort that the Breeders' Cup is in more than capable hands," said Bassett, 89, in a statement distributed by Breeders' Cup. "Bill Farish has done an outstanding job chairing the organization during a period of innovation and growth and, given the makeup of the current board and current management, I predict that the Breeders' Cup will only grow stronger in the years ahead."

Bassett is one of the most recognizable figures in racing, especially in central Kentucky, where he has lived for most of his adult life. In addition to his work with Breeders' Cup, Bassett is a former president, general manager, chairman, and trustee of the Keeneland Association, and he remains a trustee emeritus.