TALLAHASSEE, FL—MARCH 23, 2105—The Florida Quarter Horse Racing Association, Inc. (“FQHRA”) announces that on March 5, 2015, The Honorable Israel Reyes (retired Florida Circuit Judge) signed a stipulation and order resolving in the FQHRA’s favor, its claims against South Florida Racing Association, Inc. (“SFRA” or “Hialeah Park”) arising out of the 2014/15 Hialeah Park Race Meet.

On December 24, 2014, prior to the commencement of the Meet, SFRA unilaterally took over the maintenance of the Horsemen’s Purse Account and refused to pay FQHRA its administrative expenses and retention as required by the Purse Contract governing the Meet. In January 2015, FQHRA filed a claim in arbitration against SFRA and demanded a finding that FQHRA has the right to control the Horsemen’s Purse Account and that FQHRA was owed compensatory damages in the sum of its administrative expenses and retention based on Hialeah Park’s breach of contract.

The parties engaged in discovery in preparation of a March 5 and 6 final arbitration hearing. At the commencement of the hearing, SFRA asked to meet to try to resolve the issues in the dispute and after a full day of negotiations, FQHRA and SFRA entered into a comprehensive settlement governing the dispute over the 2014/15 Meet and governing how the parties will handle the Horsemen’s Purse Account for the 2015/16 Race Meet. Pursuant to the settlement, and as ordered by Judge Reyes, Hialeah Park will complete payment of the purses from the 2014/15 Race Meet to FQHRA within 10 business days. FQHRA will then pay the remainder of the purses to the horsemen who have turned in their 1099 and other contact information. SFRA will pay the full amount owed for administrative costs and retention to FQHRA within 30 business days. Further, Hialeah Park will not challenge FQHRA’s ownership and administration of the Horsemen’s Purse Account for the 2015/2016 Hialeah meet nor will SFRA challenge payment of FQHRA’s administrative fee and retention for the next meet. SFRA will also not challenge payment of breeders and owners awards to Florida Quarter Horse Breeders and Owners Association during the 2015/2016 Hialeah meet.

In return for these agreements, FQHRA agreed to dismiss its claims against Hialeah Park and the parties agreed to work together to develop a positive relationship going forward. With this comprehensive settlement, FQHRA will continue to be your horsemen’s representative and horsemen’s association. The Board of Directors of the FQHRA thanks our members, owners, trainers and breeders for your loyalty as we worked for you during this litigation. We understand that you were caused an inconvenience when SFRA took over the Horsemen’s Bookkeeper Account. FQHRA pledges to do our best make the 2015/2016 meet a pleasurable experience. Our focus is to always do what is in the best interest of the horses and horsemen not only today but in years to come. FQHRA will always come to the defense of our great horses and the owners and breeders that they represent. FQHRA spent well over $200,000 in legal fees and 14 months since December 2013 in time in depositions, hearings and in producing discovery documents while defending the horsemen’s purse account. There is one thing that is consistent in American Quarter Horse racing in Florida and that is the fact that FQHRA has come to the defense of the horsemen each time your rights and purse money have been under attack and FQHRA has prevailed in each of these instances. Thanks for your loyalty and support. American Quarter Horse racing in Florida is definitely worth the effort.

Stakes schedules for the 2015/2016 will be out by mid-summer. This will be the first year of the $200,000 Guaranteed Sunshine State Derby for accredited Florida-breds. Horsemen and women are urged to make sure their Florida-breds are accredited and paid up in this very important derby.

For additional information on information on the $200,000 Guaranteed Sunshine State Derby, Florida Quarter Horse racing and/or the FQHRA contact via email at staff@fqhra.com or call 850-345-4777 between 8 am and 5 pm (EDT), or visit fqhra.com.