The Kentucky Horse Racing Commission announced Tuesday the release of the 2016 Kentucky Thoroughbred Breeders’ Incentive Funds (KBIF). The 2016 awards total about $10.8 million for Kentucky breeders.
The KBIF was implemented in 2005 to ensure the strength of Kentucky’s equine industry by awarding funds to individuals who choose to breed a thoroughbred in Kentucky. In order to qualify, the resulting foal must remain in the state during gestation, and the final award amounts are based on the foal’s eventual earnings at the racetrack, a state news release said.
“Kentucky is an unparalleled leader in the equine industry, and we are pleased to acknowledge and reward the success of our Kentucky-bred horses through the KBIF awards,” Gov. Matt Bevin said in a statement. “When breeders conduct business in Kentucky, it benefits the Commonwealth’s economy and ensures that one of our signature industries continues to thrive. We are truly grateful to the breeders who are already doing exactly that.”
Last year, Kentucky-breds raced and won across the globe, including Royal Ascot wins by Tepin, Caravaggio, Lady Aurelia, Hawkbill and Brave Anna. Domestically, Kentucky-breds won 266 graded races, including all three legs of the Triple Crown, with wins by Nyquist, Exaggerator and Creator.
WinStar Farm, LLC tops the 2016 list with 21 stakes wins and 57 allowance and maiden wins, including wins at Churchill Downs, Ellis Park, Keeneland Racetrack and Turfway Park. Summerhill Farm, the breeder of Nyquist, will receive the largest individual award for winning the Kentucky Derby.
The KBIF is funded through a percentage of the sales tax paid when a stallion is bred to a mare in Kentucky. Since the fund’s inception, over $129 million has been distributed to Kentucky breeders for winning eligible races worldwide, the release said.
The KBIF is administered by the Kentucky Horse Racing Commission.