By Jim Bret Campbell
NCHA Executive Director
I wanted to tell you about steps that NCHA is taking to keep our organization at the top of the equine industry. As an organization, you have continuously made the commitment to stay ahead of all other equine sports. NCHA’s produced shows pay the most money to the greatest number of owners and exhibitors of any equine association or limited-age event cutting.
To help maintain purse levels in light of reductions from the Texas Major Events Trust Fund, NCHA is increasing entry fees for Triple Crown events, starting with the 2014 Great American Insurance Summer Cutting Spectacular. While the added money will decrease slightly to meet the amount coming from the METF, the net impact of the fee increases results in total purses that will meet or exceed those of 2013.
The entry fee increases, along with other operational changes, will enable NCHA events to continue to provide value for all involved. When you compare to other major limited-age events, NCHA shows provide competitors more opportunities to get a return. Here are some examples:
- $200,000 – amount that will continue to be paid to the winner of the open futurity
- More than $1 million – amount that will be added to the NCHA Futurity through multiple sources
- $15,000 paid to the 70 open semi-finalists
- A higher percentage jackpotted to the purse than any other limited-age event
- More checks to more owners and exhibitors
Every cutter dreams of competing in the historic Will Rogers Memorial Coliseum in Fort Worth. No other pen is like Will Rogers and our history in the city of Cowboys and Culture is part of NCHA’s success, along with continued benefit that we get from the City of Fort Worth and the Texas Major Events Trust Fund, which have contributed more than $16 million since 2005.
Part of the reason behind the decision to increase entry fees came because of a change in the way the state calculates payments from the Major Events Trust Fund based on sales taxes generated by events such as those put on by NCHA. Those changes mean NCHA will receive $2.6 million from the Texas Major Events Trust Fund for the 2013-2014 Triple Crown, down from $3.4 million for 2012-2013. In addition, the City of Fort Worth is reducing its cash commitment for the Futurity because of its financial contribution to the METF.
When the NCHA leadership heard about those changes, we put our heads together and looked at ways to retain the payouts at record levels to continue to attract more competitors and fans to Fort Worth in the spirit of our commitment to NCHA members, the state of Texas and city of Fort Worth. While many businesses adjust pricing each year, because of the added money from the METF, NCHA has had the benefit of not increasing entry fees in many years. Raising entry fees allows those who compete in Triple Crown events a chance to go for the gold and retain our commitment to excellence, while not impacting other areas of NCHA membership. However, it’s those earnings and the dream of winning a Triple Crown event that drive breeding numbers, horse sales, training activity and competition.
Fees will increase in most classes starting with the 2014 Great American Insurance Summer Spectacular and the Futurity. Fee increases for the NCHA Super Stakes will go into effect for the 2015 show. The full schedule of increases is included below. Entry fees will not increase for youth categories.
- Open class entry fee from $2,500 to $3,000
- Non-Pro class entry fee from $2,100 to $2,500
- Limited Non-Pro class entry fee from $1,400 to $1,500
- Unlimited Amateur class entry fee from $1,250 to $1,400
- Amateur class entry fee from $1,250 to $1,400
We thank the many individuals working within the budget, finance, and executive committees as well as our staff for designing and approving this approach.
We understand that some of you may wish to change your entries for the 2014 NCHA World Championship Futurity based on this announcement. While we hope you will see the value as we do, we understand if you would like a refund and for a limited time you will be able to withdraw and receive a full credit. The details will come in a specific communication to those already entered.
I want to leave you with the following thought: the NCHA Triple Crown Events continue to be a tremendous value for participants, with more added money, a higher percentage of entry fees jackpotted to the purse and more cattle per entry than any other major event in the industry. NCHA committees stressed the importance of adjusting the commitment of the funds to maintain a strong financial position while maintaining that value in the events.
We will continue to keep everyone informed, and we urge anyone with suggestions or comments to send them to me at firstname.lastname@example.org.
Below is the estimated payout for the 2014 Futurity with the entry fee increase and added money change while also paying $15,000 to 70 finalists:
Futurity Open Top 10
NCHA Provides Value
||Total Entry Fee
|NCHA Super Stakes
|PCCHA Paso Robles
|PCCHA Las Vegas
- Note: Open Class Only
- Note: BI take–out percentage includes the a portion for their Stallion/Mare program
- Ratio: Purse / # of Cutters Paid / Total Entry Fee