ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Saturday, August 31, 1996 TAG: 9609030052
SECTION: VIRGINIA PAGE: C-3 EDITION: METRO
DATELINE: RICHMOND
SOURCE: DAVID M. POOLE STAFF WRITER
THE HORSEMEN'S Benevolent and Protective Association has agreed to 30 days of live racing at Colonial Downs next year.
Over the objections of rank-and-file members, the state's thoroughbred horse organization is poised to sign a deal with Colonial Downs for a 30-day racing meet next year.
The executive board of the Horsemen's Benevolent and Protective Association voted late Thursday to enter into a contract guaranteeing $150,000 in daily prize money at the proposed track in New Kent County.
Earlier in the evening, the group's membership voted 172-142 to reject the offer because some members wanted 102 days of live racing, which Colonial Downs promised in its 1994 pari-mutuel application. Others want Colonial Downs to fail, in hopes of getting a track in Northern Virginia.
Supporters of the agreement contend that horse owners will be better off starting with a short, quality season and building toward longer meets at Colonial Downs.
The group's executive board said it was not bound by the vote, even though members had been told any agreement with Colonial Downs will be subject to their approval.
Jeffrey Jacobs, the managing partner of Colonial Downs, must settle the percentage of funds going to horse owner prizes before he can proceed with a $55million bond and public stock offering.
"The board is talking with Mr. Jacobs to come up with a contract that we think is in the best interest of all Virginia horsemen," said Richard Poulson, a vice president of the group.
LENGTH: Short : 40 lines KEYWORDS: HORSE RACINGby CNB