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NTRA Board of Directors Meeting

August 4, 2004     E-mail this page to a friend!

The NTRA Board of Directors met on July 27 for a special meeting conducted via teleconference. The Board:
• Accepted the resignation of Tim Smith, who will step down as NTRA Commissioner and CEO effective Sept. 1, 2004 (see attached release);

• Named NTRA Vice Chairman and Breeders’ Cup President D. G. Van Clief, Jr. as NTRA Acting Commissioner and CEO, and promoted NTRA Deputy Commissioner and COO Gregory C. Avioli to President and COO, also effective Sept. 1, and agreed to revisit in September the timing and substance of updates to the NTRA’s strategic plan and a future executive search;

• Received a report prepared by National Economic Research Associates, outlining issues associated with pari-mutuel “leakage” to illegal, offshore wagering entities and the consequent loss of purse dollars and revenue to Thoroughbred racing in North America, as well as proposed recommendations from the Wagering Systems Task Force to address those issues;

• Received a report on CITGO becoming an Official League Sponsor for the period 2005-2009;

• Received a financial status report that shows the organization on course to achieve its budgeted surplus of $400,000 for 2004;

• Received a report on membership matters, including MEC’s renewal of its racetrack memberships through the end of 2005;

• Received an update on negotiations between Breeders’ Cup Limited and Thoroughbred Championship Tour, with additional details to be provided at the Board’s regularly scheduled third-quarter meeting; and

• Received a report on the renewal of the three-year affiliation agreement between NTRA Charities and Ronald McDonald House Charities and confirmed the appointment of The Jockey Club Foundation Executive Director Nancy Kelly to the Board of Directors of NTRA Charities.

The Board’s third-quarter meeting will be held Friday, Sept. 24, 2004 at Lone Star Park in Grand Prairie, Texas.