12/18/2012 1:12PM

Breeders’ incentive program approved in Great Britain


Horsemen in Great Britain will have a new breeders’ incentive program for the 2013 racing season, with the approval of the British Owners and Breeders Incentive Scheme, Racing Post reports.

The plan will offer a bonus of 6,000 British pounds - about $9,750 - to the winning connections of nominated 2- or 3-year-olds who win a Class 2 to 4 race, or a Class 5 fillies’ maiden race in Great Britain. Around 450 races are expected to be included in the program during its first year, with a total of about 2.39 million pounds (about $4.75 million) expected to be paid out annually to owners and breeders.

"I am delighted we have succeeded in securing industry wide agreement and funding” for the new program, the British Horseracing Authority’s chief executive, Paul Bittar, told Racing Post. “We hope that the scheme will encourage investment in British bloodstock, stimulate racehorse ownership in Britain, as well as incentivize owners to run their horses more often.”

Designed to complement the European Breeders’ Fund, the breeding incentive program will be funded by registration and nomination fees, as well as supplemental money from the Horserace Betting Levy Board. Progeny of British-domiciled mares or British-based stallions are eligible for the program.

The two-part qualification process requires an initial registering payment that varies depending on the foal’s age when the payment is made, then a nomination fee of 275 pounds ($450) before February of the foal’s 2-year-old season. If the owner chooses not to nominate the horse before the deadline, the breeder can do so, and vice versa.