Cape Racing has announced the establishment of a new Thoroughbred Sales Division to conduct bloodstock auctions in the Western Cape.
All profits earned by this division will be channelled into stakes and will contribute alongside Cape Racing’s other initiatives aimed at ensuring the longevity and sustainability of racing in the province.
Greg Bortz, the Executive Chairman Elect of Cape Racing, stated: “Establishing a Thoroughbred Sales Division is a logical extension of our brand. Furthermore, the entire focus for us is on creating revenue streams that stay within racing and are used for the benefit and growth of racing. The majority of the country’s breeders are based in the Cape, so I am sure they will be thrilled to see the proceeds of sales conducted in our province be returned into the local stakes pot. We are also excited to welcome all the breeders from around the country to come and participate in our sales events – if racing wins, we all win, and we are all on the same team here!“
Justin Vermaak, Cape Racing Head of Racing Operations, added: “The Western Cape seems the logical region to host auction sales as (i) the majority of horses on offer do not have to travel vast distances to get to the sales; (ii) it is located in the appropriate area from a quarantine perspective; (iii) it is frequented by high-profile local and international buyers; and (iv) can be staged to coincide with the major feature races in the Mother City as well as the other top social events in and around the city. We look forward to adding to the national sales calendar and hopefully contributing to positively uplifting our fantastic breeding industry. ”
Details of the planned sales calendar will be announced in the weeks ahead.