The Standardbred Breeders and Owners Association of New Jersey (SBOANJ) and New Meadowlands Racetrack, LLC (NMRLLC) have finalized a new Standardbred Racing Agreement governing racing operations at the Meadowlands Racetrack.
“This agreement marks an important step forward in protecting the interests of the horsemen, maintaining the integrity of our industry, and preserving the Meadowlands as a premier venue for Standardbred racing,” said SBOANJ President Mark Ford. “It reflects our shared commitment to stable, competitive purses, clear statutory rights, and responsible growth.”
Key provisions of the Agreement include an expanded racing schedule, a total of 102 race dates are set for 2025, adding dates to fill the gap left by Freehold Raceway. Annual health fund contributions will total $700,000 USD, supplemented by a 40 per cent track share of ADW revenues and a matching contribution by NMRLLC to account for lost Freehold funding. In a critical demonstration of good faith and long-term partnership, NMRLLC has also committed to offset the recent increase in New Jersey’s sports wagering tax, pledging to supplement the Standardbred purse account each month in an amount equal to the actual shortfall created by the tax hike, estimated at $450,000 USD to $500,000 USD annually. Dedicated support for New Jersey breeding and racing, including daily New Jersey-owned/sired races, bonuses for New Jersey-sired horses in overnights, and $800,000 USD annually in Sire Stakes funding.
“We appreciate the collaboration shown by the Meadowlands team and our Contract Committee members in achieving this result,” added Ford. “In particular, we thank Jeff Gural for his ongoing leadership and his personal commitment to the long-term success of Standardbred racing in New Jersey. His willingness to stand behind the industry with meaningful financial support, including the full make-whole on the sports wagering tax, is deeply appreciated.”
"It's a great relief to have the agreement we now have with the SBOANJ so they can maintain these important services for their horsemen, and we can move forward together in our quest to secure a casino license for The Meadowlands,” said Jeff Gural, Chairman and CEO of New Meadowlands Racetrack, LLC.
(SBOANJ)