More Tom! BSA CEO Tom Callaghan made the announcement today
Bloodstock South Africa have bounced back strongly in an exciting week for the South African thoroughbred breeding and racing industry. The announcement that they have revamped their time tested Added Value Stakes Programme is bound to be seen as a positive step across the board.
Cape Thoroughbred Sales,the relative new kid on the block, in one of the toughest industries in the world, announced this past Monday that they were introducing an innovative series of races, coupled with trainer incentives for next week’s Book 2 Sale.
This announcement sent ripples of varying opinion through racing circles, with the general consensus, that any added value to hard pressed owners was to be welcomed.
Now the next big news for owners!
Bloodstock South Africa is the marketing arm of the Thoroughbred Breeders’ Association of South Africa, which has a proud history dating back 90 years.
The BSA Added Value stakes program has already been in existence for some 10 years and was created to reward excellence in breeding and racing.
It was originally spread across 14 stakes races for 2 year olds only, and was funded by both breeders and buyers .
The essence of the programme, which centres itself on rewarding breeding and racing excellence, is the desired improvement of the breed.
In a move seen as a strategic counter to the CTS initiative, BSA CEO Tom Callaghan announced this afternoon that they have revisited the scheme and modernised it.
The new programme will incorporate all 76 graded and listed(black type) races for 2 and 3 year olds in South Africa.This will mean a R5m added value stakes pot per annum.
Unlike the CTS scheme, which is restricted to one race per year, the BSA scheme is wider spread and rewards all appropriately subscribed 2 and 3yo winners of all black type races for excellence on the track.
In announcing the revised programme, BSA CEO Tom Callaghan said that their scheme was a tangible show of support of the pattern race system, which he said was the ‘crux of our international reputation.’
The broad mathematical parameters of the R 5 million allocation are that R3.25m will be distributed amongst owners, with R500 000 allocated to winning trainers.
R1m would be channelled back to breeders, while R250 000 would be donated to the National Horse Trust and Horse Care Units, as a gesture of what Callaghan called a ‘moral duty to invest in the care of our retired athletes.’
The decision to subscribe to the programme remains with the buyer at the time of sale.
The buy in cost at the National Yearling Sale is R5000(plus vat), while at all other sales it would be R2500(plus vat).
The bonus payout would only apply to subscribing BSA sales graduates
