Delegation hears warning that 5 Star equestrian festival faces funding crisis; options include state support
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Summary
Officials told the delegation that the Stadium Authority's Sports Corp ran an almost $1.5 million deficit, disbanded, and that the 5 Star event at Fair Hill faces uncertainty; the Chair discussed proposals to add $200,000 annually to existing $100,000 purse funding and temporary state oversight options to keep the event running this year.
Delegation members were briefed on financial problems affecting the 5 Star equestrian event at Fair Hill after the Stadium Authority's Sports Corp amassed a near-$1.5 million deficit and was unable to make payroll. The chair said the Sports Corp has effectively been disbanded and that some Stadium Authority members resigned.
"It's not something we wanna lose," the Chair said of the 5 Star event, calling it "an amazing event" and noting it would likely look different this year as stakeholders consider options. The Chair said she has met with the governor's office and Agriculture officials and that a process exists to reconstitute an overseeing parent group.
The Chair described current racing purse funding as receiving $100,000 a year from lottery purse funds and said her proposed bill would add an additional $200,000 a year to support purses at Fair Hill. She also outlined potential short-term management options, including having the Commerce Department manage the event for a year or two while organizers stabilize operations.
Delegates emphasized the need to ensure vendors and event contractors are paid and discussed coordinating with the new Stadium Authority director expected to be appointed by the governor. There was no vote or formal directive at the meeting; the Chair said delegation members would work with the county and state contacts to explore solutions so the event and racing activities can proceed this year.
