Alex Waldrop, who will retire later this year as president and chief executive officer of the National Thoroughbred Racing Association, has been honored with the 2021 Clay Puett Award for outstanding contributions to the race. racing industry.
The award, presented to Waldrop at the University of Arizona Circuit Program’s Global Symposium on Racing last week, was established in 1994 and is named after Clay Puett, an Arizona resident. There were innovations, including the development of a mechanical starting gate, that helped revolutionize motorsport.
Waldrop has had an stellar career in the racing industry, being the president of Churchill Downs and later as chair of the equestrian, gaming, and recreational practice group at the Kentucky-based law firm Wyatt Tarrant & Combs, where he served as general counsel for the NTRA before joining the organization full-time with his current role.
Under Waldrop’s leadership, NTRA has grown successfully in Washington, cementing its position as the leading voice of the industry and the entity representing all segments of the Thoroughbred industry on Capitol Hill. As the trade association for the Thoroughbred industry, NTRA has focused on lobbying for legislation that has a direct and material impact on its members and their businesses as they relate to horse racing, breeding and pari-mutuel bets.
The support of and by horsemen led to one of the highlights of Waldrop’s time at NTRA when, in 2017, the U.S. Department of the Treasury officially approved the related modernization regulations. to withholding and reporting of winning pari-mutuel bets. The new regulations are the culmination of nearly a decade of work on Capitol Hill by NTRA, and overnight led to a dramatic reduction in reporting obligations for horse riders and practically eliminating deductions. save on winning bets, allowing horsemen to keep more of their winnings.
Waldrop is also the chair of the NTRA Horse PAC, NTRA’s federal political action committee that has raised more than $5 million through voluntary donations to support political parties and candidates for election office at the federal level.
In 2008, Waldrop and NTRA led an industry-wide effort that led to the creation of the NTRA Integrity and Safety Coalition, an entirely new program and self-regulatory body that for over a decade has identified and implements national safety and integrity standards at many of the nation’s top racetracks.
NTRA’s corporate purchasing arm, NTRA Advantage, has seen unparalleled success during Waldrop’s tenure. Advantage surpassed $1 billion in revenue for the equine industry in 2019 and has saved nearly $200 million for industry participants.
Earlier in Waldrop’s career, as president of Churchill Downs, he led the effort to develop a master plan to renovate the historic track, which resulted in a $126 million facility modernization and paved the way for future capital investments to continue. until today.
