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Lasix Phase-Out Recommendation Advances

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Lasix Phase-Out Recommendation Advances TUESDAY, NOVEMBER 26, 2019 LASIX PHASE-OUT REPORT: PHOENIX RACING FUND PLACED INTO LIQUIDATION, WAS NEVER RECOMMENDATION REGULATED ADVANCES TO KHRC BOARD On the heels of allegations that Amer Abdulaziz Salman of Phoenix Thoroughbreds has been named a Akey figure in a major money-laundering operation@, the Racing Post reported Monday that Abdulaziz=s Phoenix Luxembourg Fund, billed by Abdulaziz as Athe world=s first regulated Thoroughbred fund@ has been put into voluntary liquidation and Anever operated as a functioning investment fund at all.@ According to the report, Abdulaziz registered Phoenix Luxembourg Fund SICAV-RAIF, created by his Dubai-based Phoenix Fund Investment LLC, in Luxembourg, but the fund was never regulated there, taking it outside of the governance of the country=s financial services regulator. Cont. p4 IN TDN EUROPE TODAY HAZELWOOD TOP AGAIN WITH DUBAWI COLT Racing at Churchill Downs | Horsephotos A colt, by Dubawi (Ire) and consigned by Hazelwood by T.D. Thornton Bloodstock, topped the Tattersalls December Yearling Sale on In a relatively quick reversal of a vote taken Oct. 28, the Monday. Click or tap here to go straight to TDN Europe. Kentucky Equine Drug Research Council (EDRC) voted 6-2 on Nov. 25 to advance to the Kentucky Horse Racing Commission (KHRC) a recommendation to partially phase out race-day Lasix usage. If the measure gets adopted by the KHRC at its Dec. 10 meeting, race-day Lasix administration will be barred in 2-year-olds beginning in 2020, and the use of the drug will be eliminated in stakes races for all ages starting in 2021. The EDRC serves as an advisory board to the KHRC. Last month the EDRC voted on the same measure, but the recommendation failed to advance by a 5-3 vote. The following EDRC members voted in favor of the Lasix phase-out Monday: Stuart Brown II, DVM, (chairman), Johnny Mac Smith, DVM (representing Thoroughbred breeders), James Morehead, DVM, (representing veterinarians), Damon Thayer (representing legislators), Mike Ziegler (representing licensed racing associations), and Art Zubrod (representing Standardbred breeders). The no votes came from Marcus Cheney, DVM, (representing Thoroughbred horsemen) and Andy Roberts, DVM, (representing Standardbred horsemen). Cont. p3 A Taylor Made / WinStar 859-873-1717 Venture, standing at www.winstarfarm.com Gone West - Silken Cat, by Storm Cat PUBLISHER & CEO Sue Morris Finley @suefinley [email protected] SENIOR VICE PRESIDENT Gary King @garykingTDN [email protected] EDITORIAL [email protected] Editor-in-Chief Jessica Martini @JessMartiniTDN Managing Editor Tuesday, November 26, 2019 Alan Carasso @EquinealTDN Senior Editor Steve Sherack @SteveSherackTDN Racing Editor Brian DiDonato @BDiDonatoTDN Associate Editors Christie DeBernardis @CDeBernardisTDN Christina Bossinakis @CBossTDN Joe Bianca @JBiancaTDN News and Features Editor In Memoriam: Ben Massam (1988-2019) ADVERTISING [email protected] Director of Advertising Alycia Borer Advertising Manager Lia Best Advertising Designer Amanda Crelin Advertising Assistant/Dir. Of Distribution Rachel McCaffrey Advertising Assistant Amie Morosco Photographer/Photo Editor Sarah K. Andrew @SarahKAndrew [email protected] Magical World, a 9-year-old bay daughter of Distorted Humor owned by Three Social Media Strategist Chimneys Farm, will be on the roster of featured horses for the National Museum of Justina Severni Racing and Hall of Fame’s Foal Patrol Season 3, which will debut online Friday, Dec. 27 at www.foalpatrol.com. | Three Chimneys Farm Director of Customer Service Vicki Forbes [email protected] DELAWARE HORSEMEN FACE PENALTIES 6 Marketing Manager Alayna Cullen @AlaynaCullen Owner East Coast Partners and trainer Anthony Pecoraro are both appealing six-month suspensions stemming from Director of IT/Accounting an investigation into alleged illegal shockwave therapy use Ray Villa on a horse who was fatally injured at Delaware Park. [email protected] [email protected] STUDY SUPPORTS EARLIER LASIX ADMINISTRATION 7 WORLDWIDE INFORMATION A study conducted by the Grayson-Jockey Club Research International Editor Kelsey Riley @kelseynrileyTDN Foundation indicated that Lasix is capable of attenuating [email protected] exercise-induced pulmonary hemorrhage for a longer duration European Editor than traditionally believed. Emma Berry [email protected] Associate International Editor Heather Anderson @HLAndersonTDN Newmarket Bureau, Cafe Racing Sean Cronin & Tom Frary [email protected] 60 Broad Street, Suite 100 Red Bank, NJ 07701 732-747-8060 | 732-747-8955 (fax) www.TheTDN.com TDN HEADLINE NEWS • PAGE 3 OF 11 • THETDN.COM TUESDAY • NOVEMBER 26, 2019 Lasix Phase-Out Advances to KHRC Board cont. from p1 move forward on this issue, and that probably had as much to Michael Kilgore (representing pharmacologists) was not do with me supporting it as anything,@ Brown said. present. Thayer, the Kentucky Senate Majority Leader and a longtime After the meeting, Brown told TDN via phone that he viewed member of the council, was asked by TDN after the meeting if it his main role as the EDRC=s chairman as being a facilitator who was unusual for the EDRC to re-take a vote on the same promotes dialogue and balanced conversation on a contentious recommendation so quickly after it initially failed to pass. but important issue. AWell, these are unusual times,@ Thayer said. AWe had one AThis is a very controversial topic that=s not news to anybody,@ member, Art Zubrod, who represents the Standardbred Brown said. AWe all recognize how difficult it has been for the breeders and was not able to attend the last meeting. He was in industry to at least come to agreement about what to do about favor of it. And I was told there were two members of the race-day administration of [Lasix] ... And because it=s been hard council, Dr. Johnny Mac Smith and Dr. James Morehead, who for the industry to get its hands around this issue and to be able [after] getting more information on how the regulation would to codify something that it can move forward on, it=s also held be implemented, decided to vote with those of us who up a lot of other really important reforms that can [benefit] supported it.@ equine health and welfare.@ When asked if he thought the Lasix phase-out would be Brown said he voted yes primarily because he thinks the adopted by the KHRC next month, Thayer said, AThere were five phase-out recommendation by the EDRC represents a best-shot members of the KHRC, including Dr. Brown, who=s chair of the compromise on a thorny issue. He said it attempts to balance EDRC, in attendance [Monday], and it=s my hope that at its next the need for Lasix as a means to treat exercise-induced meeting the racing commission will vote to implement the pulmonary hemorrhage while being respectful of the wider regulations. I think this paves the way for other states to follow negative public perception of race-day drugs. Kentucky=s lead and hopefully create some state-based AIf it gains acceptance and if it goes through the regulatory momentum for reform.@ process and passes scrutiny in the public comment period, this Cont. p4 particular proposal gives the industry its best chance to try to TDN HEADLINE NEWS • PAGE 4 OF 11 • THETDN.COM TUESDAY • NOVEMBER 26, 2019 AKentucky is a participant in the interstate racing compact--I got a bill passed on that in 2011. And what I would like to see happen and what I think would be good for racing is for the horse racing compact states to move forward with implementing all of the changes that the EDRC has recommended at its last two meetings so we can move towards a state-based uniformity of racing rules across major jurisdictions,@ Thayer said. Smith explained to TDN why he changed his vote from no to yes from one meeting to the next. AThe proposal as it was given to us in the last meeting lacked a lot of detail, as in how are you going to enforce this [and] what are the regulatory aspects,@ Smith said. AThere was very little fleshing out. It was just presented as a removal of Lasix from 2-year-old races in 2020 and in stakes races in 2021. And I felt like an issue of this importance that was this controversial needed more attention, and therefore I voted no. But [Monday] we were presented with a proposal with quite a bit more detail, [and] that gave me a little more confidence in voting yes for this.@ A voicemail message left for Cheney (the vet appointed to the EDRC on behalf of Thoroughbred horsemen) asking to explain his no vote did not yield a return phone call prior to deadline for this story. Phoenix cont. from p1 Application to place the fund into voluntary liquidation was made last month, according to the Luxembourg business register. Racing Post also reported that Phoenix Luxembourg Fund was required by law to have an outside fund manager, known as an Alternative Investment Fund Manager, to get off the ground, but one was never brought on board. AAn AIFM was approached by Phoenix, but is understood to have walked away from the role during the due diligence process, meaning the fund never started and never traded despite Phoenix acquiring more than 300 horses, including stallions and broodmares, since its inception,@ Racing Post wrote. The report also went on to quote Aa source with knowledge of the situation@ who said, AThis fund never got off the ground. It never did business and wasn=t approved for any assets. Imagine someone built a warehouse, hired a manager. That manager never showed up for work, nothing ever went into the warehouse or went out of the warehouse.@ Cont. p5 TDN HEADLINE NEWS • PAGE 5 OF 11 • THETDN.COM TUESDAY • NOVEMBER 26, 2019 statement released via Twitter.
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