Woodbine Entertainment and the Horsemen's Benevolent and Protective Association of Ontario (HBPA) reached an agreement in principal for a new four-year racing deal which includes an increase of $22 million, including guaranteed purses and capital investment, in Thoroughbred racing, it was announced Sunday.
“Reaching this agreement in principal before the end of the 2018 meet demonstrates the strength of our relationship with the HBPA and our collective commitment to provide world-class racing opportunities to Ontario horsepeople,” said Jim Lawson, President and CEO of Woodbine Entertainment. “We look forward to welcoming back our loyal horsepeople for another exciting Thoroughbred season in April 2019 as we continue to grow our sport throughout the province.”
The new four-year agreement in principal, which runs through 2022, includes $18 million allocated towards total guaranteed purses. Woodbine Entertainment has also committed to invest $1 million each year for a total$4 million commitment for further Thoroughbred racing capital improvements over the length of the deal.
“Woodbine is committed to continue making investments that ensure the long-term sustainability of the horse racing industry,” said Jonathan Zammit, Vice President of Thoroughbred Racing Operations at Woodbine Entertainment. “The purse commitment made by Woodbine provides a significant bump in purses for the first year of the new agreement, in place for the 2019 meet with continued growth throughout the deal.”
The previous agreement was set to expire in March of 2019.
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