Odds On Racing - Harness Racing

Big M Purses To Increase During Upcoming Meeting
October 13, 2004

When the second increase is instituted in January 2005, overnight purses will average $200,000 per night. By 2007, the overnight purse structure at the Meadowlands is projected to reach a gross average of $240,000.

"The Meadowlands continues to offer the richest overnight program in North American harness racing," said Director of Standardbred Racing and Racing Secretary Tad Stockman. "We will open in November with a realignment of purses in many classes. Although some will change more than others, the average increase will be five percent in November and another 10 percent in January."

These increases are fueled by a four-year agreement with the Atlantic City casinos, and will infuse $86 million into purses accounts at all three New Jersey racetracks - Meadowlands, Monmouth Park and Freehold Raceway.

Another component of the agreement is guaranteed racing dates, assuring harness racing at the Meadowlands from January to November and from mid-November to December, effective through 2007.

"We feel there is stability in our racing program with guaranteed racing dates and rising purses for each of the next three years," said Vice President and General Manager Chris McErlean. "There are few places in our industry where those types of guarantees are in
effect right now."

Condition and claiming races at the Meadowlands, which currently have a purse range of $9,000 to $30,000, will experience increases of from $250 to $2,500 per race in November and a bump of another $1,000 to $3,000 in January.

For example, $40,000 claimers and non-winners of $12,500 condition horses will both have purses that rise to $19,500 in November and $21,500 in January.

The Meadowlands, which disperses nearly $50 million in harness racing purses each year, is closing in on the $1 billion mark in total purse distribution [overnights, stakes and New Jersey Sire Stakes] since opening in 1976.

A new addition to the 2005 racing program will be a series of invitationals, each with a purse of $80,000.

"These invitationals will be carded for the top echelon of each sex and gait," noted Stockman. "Invitations will be issued to the horses who have supported our racing on a regular basis through our series and overnight program. The races will be positioned around existing gaps in the schedule and should generate substantial interest among horsemen."

In addition to the overnight races, the Meadowlands also hosts a stakes program worth more than $20 million per year, highlighted by the $1 million Meadowlands Pace and the $1.5 million Hambletonian.