@Tinky47flat@barshoelife YOU DONT KNOW THAT IT WAS STOLEN TINKY! If you do KNOW, for sure, then YOU MUST BE COMPLICIT! Someone as smart as you knows not to make rash judgement calls without all the FACTS…
@Tinky47flat@barshoelife@LisaLazarusCEO Your opinions are OBVIOUSLY SKEWED in the favor of the BIG BAD MACHINE!! For someone who spews his large vocabulary to make himself feel as if he is the smartest man in the room, you are perceived by many as mostly a pseudo-intellectual instead.
IS THE BREEDERS’ CUP IN THE HORSE RACING BUSINESS OR THE ASSET MANAGEMENT BUSINESS?
The @BreedersCup mission is not to build a hedge fund.
It is not to accumulate private equity investments.
It is not to invest in oil and gas partnerships.
Its mission states that it exists to promote the growth of Thoroughbred breeding, racing, and sales through proactive leadership, innovation, and service.
Yet the investment portfolio has grown to approximately $120 million.
So here’s the question:
At what Board meeting was it decided that growing the portfolio was more important than growing the sport?
Was there a vote?
Was there a strategic plan?
Do the Board of Directors minutes reflect that discussion?
Do the Investment Committee minutes reflect that discussion?
How many meetings focused on hedge funds, private equity, venture capital, and oil & gas investments?
How many focused on growing ownership, fan development, innovation, technology, aftercare, and the long-term health of the sport?
Because if racing is facing declining participation, declining foal crops, aging demographics, and industry contraction, the industry deserves to know why accumulating capital became a greater priority than deploying capital.
Mission statements are easy to write.
The balance sheet reveals the real priorities.
The newly elected Members have an opportunity to ask these questions.
Time will tell.
REFORM IS COMING! Repost and speak out.
DID YOU KNOW?
Since 2010, The Jockey Club has paid considerably more in executive compensation than it has distributed in grants and similar assistance, according to its IRS Form 990 filings.
Read that again.
More money to executives than grants.
Shouldn’t an organization that says it’s protecting and promoting Thoroughbred racing be investing more directly into the future of the sport?
@jockeyclub
ATTN. ALL HORSE RACING STAKEHOLDERS:
DAY 102.
102 days since @jockeyclub sent its Jan. 27 open letter attacking @RepoleStable and 102 days of NOT answering legitimate questions from stakeholders across horse racing.
102 days later, the questions for The Jockey Club continue to grow:
#1 Why is roughly $41 million sitting in reserves while parts of the industry struggle to survive?
#2 What is the target reserve amount, and at what point does that money get deployed back into the sport?
#3 Why were fees increased on breeders and owners while reserves continue to grow?
#4 Why hasn’t The Jockey Club announced a major long-term aftercare funding initiative?
#5 Why not commit an immediate multi-million-dollar capital investment into aftercare infrastructure right now?
#6 Why was approximately $1.85 million in HISA-related debt/promissory notes forgiven?
#7 Who specifically approved those decisions?
#8 Were all Stewards and members informed before those financial decisions were made?
#9 Will The Jockey Club release board or committee minutes related to those decisions?
#10 Why should horsemen continue funding an organization that appears more focused on protecting reserves than investing in the future of the sport?
#11 Why has there been no detailed public explanation regarding outstanding HISA loan obligations (if any) and if repaid why has @jockeyclub been silent about it?
#12 Why does leadership continue talking about “industry challenges” without deploying meaningful levels of capital to address them?
#13 Why has there been no emergency response plan following the continued decline in racing visibility and distribution?
#14 Why has The Jockey Club not publicly presented a comprehensive national growth strategy for horse racing?
#15 Why does The Jockey Club maintain influence across so many parts of the industry, registry, data, technology, media, and governance, without greater independent oversight?
#16 Why has there been resistance to greater transparency regarding executive compensation, spending priorities, and reserve policies?
#17 Why are critics and stakeholders asking questions portrayed as “reckless” instead of being invited into productive discussions?
#18 Why has there still been no public meeting with stakeholders focused solely on solutions and accountability?
102 days later…WHERE IS THE JOCKEY CLUB LEADERSHIP? WHY NO MEETINGS? IS THERE SOMETHING TO HIDE?
The questions remain.
And the industry still deserves answers.
REFORM IS COMING! REPOST NOW AND SPEAK OUT!
WE AREN'T GOING TO STOP!
@BreedersCup@hisa_us