MI Developments, parent company of Pimlico Race Course, announced today the introduction of a bonus program which could award an additional $5.5 million in bonuses to the winner of the 2011 Prakness Stakes. The bonus will be shared between the owner ($5 million) and the trainer ($500,000).
The bonus program allows both east and west coast based three-year-olds to qualify by having the preliminary races at Gulfstream Park, Santa Anita Park and Golden Gate Fields.
“The purpose of this grand prize is to provide a spectacular event for the fans and to create a potential life changing experience for the stakeholders of the racing industry,” Frank Stronach, Chairman of MID, said in a release. “These events represent the greatest hope for the renewal of the thoroughbred racing business in America. Our continued development of MID’s recently acquired assets should translate into improved results across MID Racing Properties’ asset base.”
To qualify for the bonus at Gullfstream Park, a horse must win either the Grade III Holy Bull Stakes or the Grade II Fountain of Youth, and then go on to win the Grade I Florida Derby on Sunday, April 3, 2011.
Gulfstream Park General Manager, Steve Calabro, announced the Florida Derby purse will increase from $750,000 to $1,000,000.
At Santa Anita Park, a horse must win either the Grade II Robert B. Lewis or the Grade II San Felipe, and then go on to win the Grade I Santa Anita Derby to be eligible for the bonus while at Golden Gates Fields, a horse must win the Grade III El Camino Real, which is scheduled to be run on February 12, 2011 and win the Santa Anita Derby to qualify for the bonus.
“I believe this is truly an effort to improve the quality of racing during the Triple Crown season,” said Pimlico President Tom Chuckas. “The public will benefit from the incentives in this promotion.”