Tough times continue at Turfway Park

Horseracing Betting Lines

07/07/2010 - Florence, KY (Sportsbook Betting Lines) - In an effort to maintain daily purses equal to last year's, Turfway Park president Robert N. Elliston announced Wednesday that the track has asked the Kentucky Horse Racing Commission to approve a request to cut four Wednesday cards and all but one stakes race from the 2010 Fall Meet.

"We were forced to make deep cuts to at least stay even with last fall's daily purse averages and support our local horsemen as best we can," said Elliston. "We have to do whatever we can to maximize our field size, which means fewer race dates. And we are not alone. Churchill Downs ran four days instead of five except for (Kentucky) Derby week during their spring meet, and their average field size fell below eight. Keeneland cut more than $1 million from its fall meet purse structure and dropped two graded stakes. Except for Labor Day weekend, Ellis Park is racing only three days a week. Meanwhile, Indiana Downs just increased their purses by 30 percent and last month, on an ordinary Wednesday card, set a track wagering record."

Turfway is requesting to run Thursdays through Sundays from September 9 through October 3, a total of 16 days as opposed to last year's 20.

The lone stakes race to remain on the schedule will be the $100,000 Turfway Park Fall Championship at 1 1/2-miles, a Breeders' Cup Challenge race.

Eliminated from the schedule are the three Kentucky Cup Day of Champions races; $200,000 Kentucky Cup Classic, $100,000 Kentucky Cup Distaff and $100,000 Kentucky Cup Sprint.

"We are especially disappointed to have to drop the Kentucky Cup Day of Champions," Elliston continued. "Great horses came from all over for those races, and they've had a significant impact on the Breeders' Cup. If the state legislature allows us to level the playing field with surrounding states that enhance their purses with gaming revenue, the Kentucky Cup would be high on the list of races we would restore."

Additionally, Turfway has asked permission to move its Fall Meet post-time on Thursday and Friday up 90 minutes to 5:30 p.m. (et).

The Kentucky Horse Racing Commission is scheduled to consider the request at the group's next meeting on Tuesday, July 20.

Turfway Park is the home of the $500,000 Lane's End Stakes, a major prep race for the Kentucky Derby.

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FOOTBALL BETTING : Crabtree's base deal: six years, $32 million

Football Betting

In the wake of the news that the 49ers have signed receiver Michael Crabtree after an extended holdout, there has been not a hint of the dollars to be paid to Crabtree.

And since this means that his agent hasn't leaked the numbers, it means that his agent feels no specific motivation to do so.

Possibly because his agent isn't all that thrilled to have his name on the deal.

So the numbers will come from sources other than Crabtree's agent. And we've gotten our mitts into them.

Per a league source, Crabtree has signed a six-year, $32 million contract. (The total includes guaranteed money, base salaries, and the one-time incentive based on achieving minimum playing time.)

The deal also includes $17 million in guaranteed money.

As reported elsewhere, the deal can void to five years based on performance triggers, wiping out a final year base salary of $4 million. But they won't be easily reached.

The source tells us that, in his first four seasons (including 2009), Crabtree must either qualify for two Pro Bowls, or he must qualify for one Pro Bowl in one year and he must participate in 80 percent of the offensive snaps in a separate year in which the team makes the playoffs.

In other words, if in 2010 he qualifies for the Pro Bowl and the team makes the playoffs and he participates in 80 percent of the snaps, he'll still need to make it to the Pro Bowl or achieve the 80-percent/playoffs in another season.

Since the chances of Crabtree making the Pro Bowl or participating in 80 percent of the offensive snaps this year is roughly zero percent, he'll have three years to get it done.

And it won't be easy. Frankly, he'll be hard pressed to make it to one Pro Bowl in three years with the likes of Larry Fitzgerald, Calvin Johnson, Anquan Boldin, Steve Smith, the other Steve Smith, Hakeem Nicks, DeSean Jackson, Johnny Knox, Percy Harvin, Greg Jennings, Roddy White, T.J. Houshmandzadeh in the same conference for sportsbook betting.

So, by all appearances, it's a six-year deal. And at $17 million in guaranteed money, the per-year guarantee is a tepid $2.83 million per year.

There's another problem with the deal -- it has no mid-tier incentive package. Instead, the additional $8 million that Crabtree can earn (pushing the max value to six years, $40 million) requires the kind of unrealistic, mega-star performances that no rookie is likely to ever achieve.

So while the contract paid to Packers defensive tackle B.J. Raji covers five years and pays $22.5 million, he has the ability (if he's a solid player) to make up the difference between his base deal and Crabtree's five-year, $28 million haul via the mid-tier incentive package in Raji's deal.

And unless Crabtree meets the performance thresholds necessary to void the sixth year, he'll be stuck under contract for another year at a base salary of only $4 million.

There's one other area of concern with the deal. Crabtree, per the source, received no option bonus. Instead, he has significant money tied to a fairly new device known as a "discretionary salary advance," which unlike an opition bonus is subject to forfeiture if Crabtree decides in a year or two that he wants to hold out for a better deal. (We're also told that the 49ers have included language that would make certain escalators subject to forfeiture, too.)

Meanwhile, the deal falls well short of the mark for which Crabtree and agent Eugene Parker were aiming -- the five-year, $38.25 million contract paid by the Raiders to receiver Darrius Heyward-Bey, the seventh overall pick in the draft.

Even if Crabtree successfully voids the final year, he'll make more than $2 million per year less on average than Heyward-Bey.

Thus, as we explained earlier in the day, this is a deal that Crabtree could have done in July, which would have given him a much better chance of making a contribution to the 49ers during his rookie year.

So while the final outcome can be described as win-win, the broader view suggests that it's really a lose-lose situation.

NFL Betting Lines

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