IT has been almost a week since Caymanas Track Limited (CTL), through its chairman Joe Matalon, announced at a press conference the cutting of purses offered by 4.8 per cent and the non-payment of breeders’ bonus for one year — all starting on April 1.

As yet there has been no major response from the various occupational groups. For sure the grumblings are ever present but nothing concrete thus far.

If indeed this situation holds then it is safe to assume that the grim realisation of the financial woes besetting CTL is finally understood, and restraint at this time is considered to be the only immediate remedy available to save horse racing from a natural death. It’s not a long-term panacea, but certainly a necessary medicine.

The company and the government have made some serious errors in the past and have been chastised for these indiscretions. Faced with these woes CTL was left with nothing else to do but to drastically cut costs which they have done.

In a situation like this, it is usual for the professionals involved in horse racing, especially the trainers, to challenge company officials and the government, pressing their case in the media sometimes with venom with the ever present threat of not nominating their horses always hovering over the head of the promoters.

This time we are yet to hear a strong public response which can be interpreted as the calm before the storm or maturity reflecting a previously unknown understanding of what is required at this time to ensure the continuation of racing. Let us hope it is the latter situation.

Some in the backstretch say while the cuts are harsh, they prefer to have something rather than nothing at all. Some say entries will be increased as the old maxim of ‘the more their horses run, the more the possibility of earning whatever the lessened purse money offered’ will have added significance. The latter makes a lot of sense and the scramble to get horses on programmes have already started.

CTL boards and management personnel of bygone days are chided for not putting in place the infrastructure and investment in time of plenty when racing was literally a one-eyed entity in a land of the blind. Many claim that previous boards failed by not realising or understanding the threat placed by other gaming establishments, thereby hampering the growth and development of the industry. Racing, they say, has remained static over many successful years, while the competition has gone so far ahead it is difficult now for racing to catch up.

Whatever the reasons are it is best to forget them at this time and move ahead. This is the apparent position of the key stakeholders.

The story will for sure unfold with time.