After reading Dan Ross's Aftercare gaps article in the May 31 edition of the TDN, I have some suggestions.
Jeff Bloom (TAA president) hit the problem on the head: “One way or another we need a mandatory sustainable fundraising solution. So who's going to pay for that?”
As TAA's Founder and first President in 2012, I was a complete failure in attaining mandatory funding through our Industry. It continues to baffle me on how we could not raise $15-$20 million to help solve this problem. Maybe that's not enough either, but let's make that our goal.
Sales companies: Mandatory 1% fee for top 70% of horses purchased, 0.5 % for bottom 30% purchased. Consignors/Sales companies 0.5% on purchase price. If this had been implemented last year, that would have amounted to $3,280,000. If Mike Repole buys $15 million worth of stock, do you think he would care about designating 150,000 to Aftercare of choice? Starlight would be happy to commit 1% of our $4-5 million spend at the sales.
Tracks: Australia commits a decent percentage of purses to aftercare. I don't see why U.S. tracks can't do the same thing.
In 2012, Breeders' Cup, Keeneland and The Jockey Club committed $300,000 in seed money to get TAA off the ground. I had hoped that the industry would have continued to grow funds for aftercare. This has not happened to the level I had hoped. Registration fees need to have a mandatory level that makes a difference. I think Keeneland and Breeders Cup and The Jockey Club need to be the leaders in mandatory increase of significant amounts. I really thank the three organizations that helped to get us get started, but it's time for mandatory requirement from every level of the industry. We should make the $3-$5 million look like $15-$20 million and let the TAA worry about operations, which they are great at, and let the fundraising be the responsibility of the three organizations.
Looking at the Board of the TAA, they should have the ability to execute mandatory significant fees to get this up to the $15-$20 million level. If they choose not to do it, how can HISA help?
If you are going to play this game, you have to find a way to take care of our retired horses even if you are taking care of your own after retirement.
Jack Wolf
Starlight Racing
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