A membership update from the MSOA Board of Directors:
The Board wanted to update you on our most recent meeting that occurred today, March 31, 2020. We want to reassure you that we are continually working on behalf of our membership. Please be patient. This is such an uncharted territory that we all are facing; and although it is easy to say, “do something”, we want that ‘something’ to be the best thing for as many members as possible. We are striving to come up with ideas to provide support to everyone. Support can come in very different ways.
First, we would like to provide a more detailed account of the efforts being made to keep the backstretch open at the Meadows. We want our members who stable at the track to not have to worry about being evicted like so many of our counterparts at other tracks. We have decided that we need to disclose the financial amount directly associated with that benefit. The MSOA has agreed in principle to pay track management approximately $25,000 WEEKLY to cover the costs to maintain the backstretch. We agreed that we did not have much of a choice but to accept to this proposal from Penn Gaming. That being said, we would like to stress that this is a financial benefit being provided to those affected horsemen. If these horses were forced to stable off the grounds, they would most definitely have to pay some sort of stall rent or other direct expenses. To break that information down in more detail:
$25,000/week @ 4 weeks = $100,000 per month
Approx. 750 horses stabled at the Meadows = $133.33 per horse per month
This is a direct cash expense being paid on behalf of each horse and thereby on behalf of the member(s) associated with each horse. To carry that calculation out further; if a member currently has five horses at the Meadows, they are being provided a benefit of over $660 per month by the MSOA.
Secondly, we have approved the MSOA’s payment of members’ health insurance premiums for two months. We know that this is an extremely important time to ensure continued health coverage.
We acknowledge that the above-mentioned benefits do not include all of our membership. Please know that we are continuing to have discussions on how to provide even more help. We are also trying to gather as much pertinent information regarding the government assistance and loan programs. Stay tuned for more in the coming days.