On Wednesday, October 23rd, Cloverleaf SOA gave a brief update in the paddock at Rosecroft.
Cloverleaf SOA is pleased to announce that Sharon Roberts has been hired as our Executive Director. Roberts was selected after Cloverleaf received applications from and interviewed six qualified candidates from all sectors of the standardbred industry.
When we were preparing for the 2024 Fall Meet at Rosecroft, we set our purses to $120,000 nightly total. This figure would include overnight purse, Maryland Bonus, and Stipends. We are currently averaging $132,000 a night. Historically, we have run into periods where we have overpaid or under-paid purses. When necessary, we work with the racetracks to make adjustments to account for deficits. The Cloverleaf SOA Track Relations Committee and Rosecroft management met to discuss options. The committee and management decided that by reducing the number of races a night from 14 to 13 and lowering the Maryland bonus from 35% to 30% we could accomplish the objective of getting nightly purses down to $120,000 a night.
Accordingly, as of October 28, 2024, Rosecroft will be running 13 race cards, and the Maryland Bonus will be 30%. Post Time will also be shifted from 7:20 pm. to 7:40pm. We have attached the new Lasix schedule as well. Eliminating the first race and adjusting the post-time will remove the cost of the first race, which typically produces a low handle, allow horseman more time to get to the track, and keep the same post times for all of the other races, including our later races which typically produce the highest handles.
LASIX SCHEDULE 2024
The Board also approved an increase in coverage for the rolling equipment insurance (bike insurance). Effective October 1, 2024, Cloverleaf SOA will now cover up to $3,000 per bike up from $2,400 and coverage per tire was increased from $200 to $500.
Cloverleaf SOA is also planning our 2024 Horse of the Year Awards Banquet for February 28, 2025, at the Hyatt in Kent Island. We will keep you updated as arrangements become available.
Effective October 1, 2024, Cloverleaf SOA increased our dues to $100.00. We will be sending out renewals at the end of November for the 2025 membership year. The $100 does not cover the cost of all of the services and benefits that Cloverleaf provides to its members. These include life insurance, third party liability insurance, the bike insurance, food in the paddock at Ocean Downs, outside lobbyists hired to protect Cloverleaf’s interests and other expenses. Cloverleaf also has formed two new committees, one to investigate possible health and retirement benefits, and another to address integrity issues.
Cloverleaf SOA Board will be having a monthly meeting on November 11, 2024 at 3:00pm. on the 2nd floor at Rosecroft for members who would like to attend.
