THE Thoroughbred Breeders Association has released via its Chairman, Advocate Altus Joubert, the following statement:
During the past year the cash reserves of the TBA have reached satisfactory levels. This enabled the TBA to assist breeders, especially at the lower end of the yearling market. These yearlings are mostly sold at the regional sales .
The South African broodmare market is small and enclosed. Essentially, South African breeders trade amongst themselves and their interest would be well served by creating the most accessible market.
The production of foals and yearlings has increased substantially during the past few years. This necessitated the introduction of an additional yearling sale .
The foal levy , introduced to assist the TBA to fund the newly established Racing South Africa, will from next season be absorbed by other income generated by the TBA.
The resolutions adopted at the TBA Council meeting held on 27 January 2008 are the following:
1. The sales commissions for the GrandWest Cape Sale and the Sibaya Natal Sale are reduced from 7% to 4%.
2. No sales commission will be charged for the TBA Broodmare Sales. This arrangement applies to broodmares and foals at foot, but not to weanlings.
3. An additional yearling sale will be held at the Gosforth Park Sales Complex during the middle of February 2009. The sales commission charged will be 4%. A broodmare sale will follow after the yearling sale.
4. The foal levy will be scrapped, effective from the beginning of the 2008 / 2009 breeding season.
Extract from freeracer.co.za