Horse racing: Breeders’ Cup World Championship.
This change in funding allocation aims to enhance the financial support for the racing associations participating in the Breeders Cup. By providing these associations direct access to the funds, the bill intends to promote and support the Breeders Cup event more effectively, which is significant for local economies that benefit from the influx of visitors during the series. However, the removal of the requirement for a specified statewide marketing organization's participation in the agreement could lead to concerns regarding the marketing and promotional strategies employed for the event.
Assembly Bill 2736, introduced by Assembly Member Santiago, seeks to amend Section 19605.74 of the Business and Professions Code concerning the Breeders Cup World Championship. The bill modifies how funds are allocated during the Breeders Cup series, a prominent horse racing event held in California. The previous legislation mandated that certain funds, which would have been distributed to a purse account, be redirected to the organization running the Breeders Cup. The new amendment expands this by also allowing funds to be available to the thoroughbred racing association hosting the event.
One notable point of contention surrounding AB 2736 is the potential impact on the role of the California Tourism Commission and its associated marketing organization, which have traditionally been involved in promoting the Breeders Cup. Critics may argue that the bill could lead to a lack of consistent promotional strategies due to the termination of mandatory participation from the marketing organization, potentially jeopardizing the broader visibility of the event and the associated economic benefits.