Auction companies earmark additional funds for Thoroughbred aftercare

The three major U.S. Thoroughbred auction companies will put in place policies this summer designed to double their current contributions to aftercare efforts, the companies announced on Monday.

Under the new policies, Keeneland, Fasig-Tipton, and Ocala Breeders’ Sales Co. will each contribute 0.1 percent of the gross proceeds from their sales to the Thoroughbred Aftercare Alliance, starting with the Fasig-Tipton July sale. In addition, buyers and consignors will now be required to contribute 0.1 percent of a horse’s sales price. The contribution was previously voluntary.

Industry leaders, most notably the owner-breeder Michael Repole, have been pressing sales companies and the breeding industry to increase their contributions to aftercare efforts for several years. The sales companies said that the new policies will generate approximately $4.4 million annually based on current sales figures.

The announcement was accompanied by another specifying that the industry’s “leading stallion farms” are expected to contribute funds from stallion fees to the TAA as well. Under this program, farms are being asked to contribute half of the stud fee for any stallion that covers more than 50 mares, and 25 percent of the stud fee from a stallion that covers 50 mares or fewer.

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The statement said that the policy would raise an additional $2.2 million a year.

“The initiative has garnered nearly unanimous support from the stallion farm community, with additional participation expected as discussions continue,” the statement said.

Due to the new policies, the TAA will establish an Allocation Task Force that is “designed to leverage specialized expertise, address unmet needs, and enhance transparency in the distribution of aftercare funding.”

“This next phase of our strategic plan is centered on strengthening both accountability and impact," said Walt Robertson, the chair of the TAA. “Combined with the recent commitments from The Jockey Club and the Breeders’ Cup, these efforts are projected to approach $10 million annually for aftercare programs, providing a meaningful and sustained level of support.”

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