Tuesday, June 25, 2019
TORONTO, June 24, 2019 – Ontario Racing today announced an additional enhancement of $2.375 million in funds for the 2019 Thoroughbred Improvement Program (TIP) as part of the $10 million of Horse Improvement Program funds designated for the horse racing industry by the Ontario government.
An enriched TIP will now offer the additional funds through a new rewards program in which a $2,500 bonus will be distributed to the winning owner and breeder of a registered Ontario-bred in an ‘overnight’ race at Woodbine, split evenly. At Fort Erie, $1,250 will be also split evenly between the winning owner and breeder of an overnight race.
When coupled with the existing TIP program, there is over $16 million available for Thoroughbred horsepeople through TIP in 2019, including $2 million from the original Enhanced TIP program earmarked for Thoroughbred breeders.
“This is an historic day for Ontario’s Thoroughbred owners and breeders,” said John Hayes, Independent Chair, Ontario Racing. “A strong and impactful TIP program is paramount in supporting the horsepeople within our industry. It is equally important to pave the way for new owners and breeders to discover our sport, as well as ensuring the health and welfare of our horses through the equine research program. Ontario Racing continues to work closely with our horsepeople and stakeholders to see horse racing flourish throughout the province.”
Another $125,000 from the enriched TIP program has been dedicated to equine research and long-term care.
The additional TIP funds are a contribution from the government and are not derived from wagering, as is the case with the Thoroughbred Improvement Program, which is expected to be valued over $12 million in 2019.
“Additional funding for the TIP program will be very well received by the owners and breeders of Ontario,” said Robert Landry, General Manager, Chiefswood Stables. “TIP is essential to provide stability and assure breeders and owners they can confidently make business plans regarding their investments in the Ontario’s horse racing and breeding industry.”
The current allocation of the enriched Horse Improvement Program is in place for the 2019 season only. A committee to determine appropriate parameters for the future allocation will be created.
Ontario Racing has also announced it is having a Value for Money audit conducted with respect to the use of the HIP funds, which will assist in this determination of how an allocation of the new funds will be allocated in 2020 and beyond.
The allocation of the additional Standardbred Improvement Program (SIP) funds was announced last month.
For further information on Ontario’s Horse Improvement Programs, those interested can visit www.ontarioracing.com.
For more information on the TIP Program, contact the Program Coordinator, Ashley Douglas, at 416 675 3993 ext. 2633 or email@example.com.
Ontario Racing is responsible for the administration of all non-regulatory functions of horse racing in Ontario.