Derby purse raised to $3,000,000

[philcski]

Originally Posted by Kasept

The Derby purse has been ridiculously low considering that the first $1,000,000 is generated from the 20 entrants x the $50,000 it costs to pass the entry box. Last year I heard from KY-based stakeholders who feel that based on the revenue generated, the purse should be $5,000,000.

They did enhance purses throughout the stakes program with this round of increases..

From Marty McGee's piece: Meanwhile, Churchill also announced substantial purse increases for the two other major races on Derby weekend – the Grade 1 Kentucky Oaks now will be worth $1.25 million, and the Grade 1 Old Forester Turf Classic has been doubled to $1 million. The Oaks had been $1 million since 2011 and was worth $500,000 from 1996 to 2010.

Also, the Grade 1 Humana Distaff on Derby Day has been increased from $300,000 to $500,000. Four more races underwent $100,000 increases, including three on Derby Day and the Grade 2 Stephen Foster on June 15, while seven more got $50,000 raises.

I think you can make an argument for it being even double the $5MM number. They did $150MM handle on the Derby alone last year- not even factoring in the nomination fees, entry fees, tickets, etc. Not sure what CD's take is on simulcasting but I know they negotiate special rates for Derby weekend, so even at 10% that's a $15MM take. Steve, any idea?