Supporting Retired Horses
Here’s one idea to ensure secure retirements for racehorses:
As a solution to the funding problem, the TRF has proposed the creation of a social security trust fund for retired thoroughbreds. Money would be raised for the fund by deducting one-half of one percent (.005) from all purse monies. (At this rate, a modest $5 would be deducted for every $1,000 in earnings.) The fund would be managed by people within the industry, with money allocated to rescue organizations on a horse-by-horse basis. With total purses annually running over $1 billion, this method would raise over $5 million per year.
In the meantime, Woodford Reserve distillery will sell $1,000 mint juleps at the Kentucky Derby to support thoroughbred retirement groups.
