FTBOA CEO Lonny Powell addressed the Florida Gaming Control Commission to announce a temporary reduction in breeders’ and stallion awards from 20% to 15% for 2025, citing funding shortfalls caused by legislative changes and the rapid decoupling of racetracks from racing operations. Powell criticized Florida’s outdated racing statute, highlighting that breeders’ funding is tied to on-track wagering, which now represents only about 2% of total bets, while most wagering occurs virtually through ADW platforms that do not support breeders’ awards. Despite these challenges, Powell unveiled Florida’s first out-of-state export win incentive program launching January 1, 2025, to reward Florida-bred horses competing nationally, alongside eliminating registration fees for foals to provide financial relief to breeders.

The commission unanimously approved FTBOA’s funding adjustments and new initiatives, recognizing the organization’s transparency and proactive approach amid industry shifts. Powell emphasized the need for legislative reforms to ensure sustainable funding and expressed optimism about collaborating on long-term solutions. FTBOA continues to serve as a key advocate for Florida’s Thoroughbred breeders, adapting to evolving market realities while maintaining its nonprofit racing permit and introducing programs to support breeders in a changing racing landscape.