Officials with the Meadowlands Racetrack have announced an update to the fate of the 2019 editions of the Governor’s Cup and Three Diamonds.
According to the track, several of last year’s contributing sponsors have now indicated that they will ‘renew their support for the 2019 season.’ In light of that development, the Meadowlands has indicated that, due to the looming February 15 stakes nomination deadline, the ‘Big M’ will accept nomination payments for the Governor’s Cup and Three Diamonds while the track continues to seek sponsorships. The Meadowlands has also stated that the decision on the fate of the two stakes events will then be made by early March. The contents of the Meadowlands’ release on the subject appear at the bottom of this article in their entirety.
The Meadowlands Racetrack had announced earlier this week that the track had been forced to cancel the 2019 editions of the Governor’s Cup and Three Diamonds due to financial pullout from previous stakes sponsors. Meadowlands Racetrack operator Jeff Gural that the 2019 editions of the two juvenile stakes events could be raced if sufficient sponsorship was found. To read the contents of the Meadowlands’ announcement on the subject, click here.
The Standardbred Breeders and Owners Association of New Jersey’s followed up with a comment on the situation, stating that he SBOANJ had not been notified of the cancellations prior to the Meadowlands’ announcement. To read the contents of the SBOANJ’s announcement on the subject, click here.
In response to Tuesday's announcement regarding the cancellation of the Governor's Cup and Three Diamonds stakes several of last year's contributing sponsors have indicated that they would renew their support for the 2019 season.
As a result and with the February 15 deadline looming, The Meadowlands will accept nomination payments on those stakes while continuing to seek sponsorships. A decision on the fate of the stakes will then be made by early March.
The unfortunate truth is that the entire stakes sponsorship program is down significantly from 2018 and the purse supplement granted by the NJ Legislature does not allocate any funds for the Grand Circuit stakes.
The Meadowlands welcomes those who may be interested in becoming stakes sponsors for 2019. Please contact Vice President of Sponsorships Sales Jason Hall who may be reached via email at [email protected] or by phone at 607-972-6526.
In the interest of clarity as to the distribution of the allocation and the measures that will be used to determine if the subsidy will be continued beyond the current fiscal year, NJ Senate Bill 2992 is available in its entirety from this link.
The language directing the use of the supplement is clear;
"There shall be appropriated out of the General Fund of the State in the current fiscal year 2019 and in each of the four fiscal years thereafter $20,000,000 annually to the New Jersey Racing Commission to be used for horse racing purse subsidies. These amounts shall be allocated by the New Jersey Racing Commission equally between the thoroughbred industry and the standardbred industry. Of the funds allocated to the thoroughbred industry, 100 percent shall be allocated to Monmouth Park overnight purses. Of the funds allocated to the standardbred industry, 60 percent shall be allocated to Meadowlands overnight purses; 16 percent to Freehold overnight purses; 12 percent to the New Jersey Sire Stakes purses; 6 percent to purse bonuses for New Jersey sired horses; and 6 percent for breeders awards purses."