10/24/2001 12:00AM

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Nureyev, a champion and sire of champions, is in serious condition after undergoing a surgical procedure to remove a tumor from his right front hoof. "The prognosis is very guarded," said Dr. J. D. Howard, resident veterinarian at Walmac International in Lexington, where the 24-year-old Nureyev stands for a private fee. He added, "the next 30 days or so will be critical.". . . Jockeys Frank Alvarado and Roberto Gonzalez were both injured last Friday night at Bay Meadows in a spill in the fifth race. Alvarado fractured his right collarbone and badly bruised his hip, and will be out five to six weeks. Gonzalez suffered a small fracture in his right foot and is expected to be miss at least three to four weeks. . . . Churchill Downs Inc. had net earnings of $7.1 million in the third quarter of 2001, or 54 cents a share, the company announced Tuesday, compared with $7.3 million in net income in the third quarter of 2000, or 68 cents a share. Revenues for the third quarter were $121.2 million, a 17 percent increase over revenues of $103.8 million in the third quarter last year.