PDA

View Full Version : Churchill Good/Bad


drib
05-24-2015, 05:59 PM
I can remember 20-50 years ago (yes, I go way back) when past Derby week, Churchill Downs racing was decidedly second rate. About 20 years ago, to their credit, management made a concerted effort to elevate their product, and pretty much was able to get to the top tier. Over the last decade, the company has undergone a major change in outlook. For the most part, management now comes from the non-racing business world. For company shareholders, this has resulted in a bonanza, as share price has soared. CDI has made many decisions to improve the bottom line; however, when it comes to improving racing, not so much.
We are all familiar with the disgraceful increased takeout at CD. Hollywood Park is gone now with this bottom line mentality (not criticizing the economics of the deal, but sure bad for racing). Calder seems on the way out also. The company has made a decision to maximize income by placing ever greater emphasis on Derby Week revenue, to the marked detriment of the overall CD product. I realize the track has headwinds with increasing competition from nearby states, and, once again, I am sure shareholders are quite happy with this approach, but, when it comes to racing, not so much.
Now look at what is happening in NY. Unlike CDI, NYRA does not have many investors, but, rather, is under the thumb of one man, Gov. Cuomo, who is demanding the non-profit show a positive bottom line from its racing operations. Just like Churchill, NYRA's president comes from the non-racing business world, and like CDI, a decision has been made to maximize revenue by going all in with Belmont Stakes week, and Saratoga. We all know the routine: jack up prices to point of gouging etc. I do not debate the effectiveness of these measures in making money, but, once again, is this good for racing?
Consider that we now live in a world where, for the most part, horses are racing less frequently. When NYRA goes all in for Belmont Week, it trashes racing for the surrounding several weeks. Memorial Day weekend used to be a great venue for NY racing, but the product NYRA has put on this week is plain dreadful. Maybe, like CDI, this approach will increase revenue, but the overall racing product suffers.
I can remember the days when NY racing fans proudly referred to the Triple Crown final jewel as, simply. Saturday's 8th race. I know those days are gone, but I fear the enjoyment of everyday racing at Belmont is taking a huge hit, masterminded, like CDI, by people with little, or no, racing memory