What's Going On Here

That’s a Wrap - By Evan Hammonds

2021-03-24T13:30:00Z

Old habits die hard. BloodHorse, which has stuffed mailboxes weekly since before the Great Depression, will transition to a monthly publication with the April issue. Apparently too many subscribers are too far behind in their reading and would prefer to be served with just one issue a month instead of four. The website and Daily are the drivers of today’s news, data, and insight.

A lot of great stories written by a lot of great authors have graced these pages. Thomas Cromwell, who moved the publication from a monthly to a weekly in the spring of 1929, found the work too arduous for one man and had the foresight to hire a young Joe Estes to take the reins in 1930. Joe Palmer joined Estes’ staff as managing editor in 1934, and the publication had a power duo that quickly gained towering reputations as the foremost Turf journalists in the land.

“At some point while serving as editor-in-chief, I came across a file box with index cards meticulously documenting by subject matter and date the various commentaries written by Joe Estes, who led the magazine from 1930 until 1961,” said former editor Ray Paulick last week.

“It was stunning to me then, and remains so today, that many of the pressing issues addressed on these pages by Mr. Estes and later by Kent Hollingsworth and Edward L. Bowen are still unresolved. Alternatives to claiming races. Uniform licensing. Medication reform and other regulatory issues. What strikes me after examining racing’s mostly self-inflicted problems is that it must be one hell of a game to have survived.”

Hollingsworth was named editor in 1963 and was joined by Bowen and Charlie Stone, along with ad director Erbert Eades.

This editorial space—“What’s Going on Here”—began in the fall of 1965, penned by Hollingsworth, and in the column’s formative days appeared more as a string of notes from the week, but it soon took shape and was considered must-read commentary. As the sport evolved through the 1970s and 1980s and medications such as Lasix and bute became legal, it was Hollingsworth who was most consistent in his message of “Hay, Oats, and Water” that the magazine still strives for.

Hollingsworth departed The Blood-Horse at the end of 1986 and sadly departed this earth in May 1999.

Bowen took the editor-in-chief role and steered the ship into the 1990s. A fine historian and a Versailles neighbor, he was asked to weigh in on the final weekly edition.

“Since the first steps in daily information taken by the publication in the 1980s, BloodHorse has marched through various advances,” he said. “These, in the aggregate, now support the decision to publish a magazine monthly while continuing to improve the daily product of information, analysis, and industry leadership. I expect the magazine to be robust and important as a monthly, in the tradition of monthly publications serving a range of audiences, such as Smithsonian.

“It might be hard to imagine today, but for years the weekly stakes reports from racetracks were sent by our correspondents by mail and the magazine went to the printer late on Wednesday nights. Of course, another weekend of racing and other news had taken place before any reader received an issue. The advent of fax machines and later communication, photo, and printing technology guided many improvements in timeliness during the decades of the weekly magazine.”

Eric Mitchell, currently the Bloodstock Editor, had command of this space for several years.

“Advocacy is a major responsibility of the column. BloodHorse was founded to be a resource for owners and breeders, so ‘What’s’ provides the forum to raise issues and advocate for changes that benefit both these groups,” he said. “Much of this advocacy involves regularly promoting integrity in racing and at public auction, so the industry is attractive to new owners and keeps the active ones involved, which in turn helps breeders continue their livelihood. All of it centers around the responsible care and management of the horse.

“The column also is a platform to share colorful stories from the myriad of characters met at racetracks, sales, and events. These behind-the-scenes ‘slice of life’ tales were the most fun because they give readers a taste of how challenging and how exhilarating the horse business can be.”

“What’s” will continue in its weekly format on BloodHorse.com and a video—gasp—version will be posted on the new BloodHorse+ starting April 1.

The first weekly edition, published in May 1929, noted: “WE ISSUE EACH MONDAY.” See you then.

No Win, No Worry - By Evan Hammonds

2021-03-17T13:30:00Z

In many respects it seems as if the “year of COVID” has lasted a lot longer than 12 months. A year ago we couldn’t find much on the shelves of the local grocery store, especially paper products. Swiss Skydiver had yet to defeat stakes company. Bob Baffert had just five Kentucky Derby (G1) wins.

While we herald the fact racing was able to continue in some jurisdictions during the early lock-down phase of the pandemic battle and that the ability to wager remotely via advance deposit wagering is part of our success story, Thoroughbred racing remains a tough business. The number of races, race days, and overall purses lost has forced most horsemen to adapt to new business practices. However, the sport has always been a survive-and-advance kind of game.

Now that multiple vaccines are being administered nationwide, things are hopefully on the verge of reopening. Spring race meets here in Kentucky—Keeneland and Churchill Downs—will have more than just “owners only” in attendance. The Belmont spring meet that begins in late April seemingly has some new life. A limited number of fans returned to Hot Springs, Ark., over the weekend to see Concert Tour win the Rebel Stakes (G2) and last year’s Longines Kentucky Oaks (G1) winner Shedaresthedevil score in the Azeri Stakes.

Purses, the most important measuring stick of racing’s health, fell a year ago amid COVID-19 uncertainty. In addition, quarantine issues kept a large number of 2-year-olds at training centers with no tracks to transition to. The “supply chain” of 2-year-olds and races for them were disrupted over the summer and fall of 2020.

Well, for a sizable portion of the racing product at the higher-end venues in North America, it’s no better time than now to be a maiden. A handful of racing secretaries are dangling some sizable carrots.

At Oaklawn on the Rebel undercard, the racing office ran three maiden special weight races, all worth $93,000, including one for Arkansas-breds.

Keeneland’s tradition-rich—and purse-rich—spring stand begins April 2. On tap for the opening few programs are maiden special weight races for 3-year-olds and up for $79,000 (includes Kentucky Thoroughbred Development Fund money).

Churchill Downs takes the baton at the close of the Keeneland meet April 23, and the very first race in Churchill’s 2021 spring condition book is a maiden special weight for fillies and mares, 3-year-olds and up worth $106,000 (including KTDF money). We understand that is a special “Derby Week” portion of the meet, but later in the month maidens will run for $91,000.

Several days ago BloodHorse reported that during the Belmont meet the top end will feature $90,000 maiden special weight races and allowance races that begin at $92,000. Last summer—with an uncertain future and cash flow squeezed by the closure of casinos in the state—maiden special weight races were worth $63,000 and allowance races going with a $65,000 purse.

Of course, these examples are at the upper tier of tracks that are presently in a very competitive marketplace for horses during the spring/early summer. In Southern California, the highly touted Triple Tap broke his maiden March 13 in a maiden race worth $61,000, and on the same day Gulfstream Park ran a maiden special weight for $55,000. Mahoning Valley Race Course’s maiden special weight race on the same day was worth $27,500, and our friends at Fonner Park in Nebraska, the darling during the early stages of the shutdown, ran a maiden special weight for $7,200.

There has always been a chasm between the haves and the have-nots among racing jurisdictions. The same is true in the real world. COVID-19 has probably made that chasm wider and helped to accelerate some business sectors while others face reinventing the wheel. We have little control over that, but realize racing types know how to follow the money.

As spring arrives in 2021, there appears to be new hope, a reawakening. Things will never be “normal” again in the 2019 sense, but with sizable purses returning, we’ll be able to carve out a new path.

Security Measures - By Evan Hammonds

2021-03-10T14:30:00Z

Making a stand against social injustice at a racetrack is nothing new. Perhaps the most famous example occurred more than a century ago when Emily Davison walked out in front of the horses competing in the 1913 Epsom Derby in England. Stepping out from the inside bend at Tattenham Corner at Epsom, the suffragette was struck by King George V’s runner Anmer and unfortunately later died having never regained consciousness.

In recent years several protests have taken place at, or outside of, racetracks. Foremost in our mind was at Churchill Downs for last year’s Kentucky Derby Presented by Woodford Reserve (G1). A summer’s worth of protesting over the death of Breonna Taylor and other national social injustice issues were addressed during Labor Day weekend in a daylong march from downtown Louisville to the gates of Churchill Downs.

More tied to our sport than regarding national issues have been multiple protests concerning animal welfare at Thoroughbred racing’s larger events and venues. Groups such as People for the Ethical Treatment of Animals have proved successful in receiving media coverage for their cause, most notably during the racing season of 2019 in Southern California. Their tenacity has been as ferocious as Grant’s drive to Richmond.

However, none of the protests actually took place on course—not until March 4 at Golden Gate Fields when anti-racing protestors disrupted the program at Golden Gate Fields in Northern California.

The incident was led by a group under the “Direct Action Everywhere” banner, which came well prepared for maximum exposure. Beyond the disruption of the races, the group used drones to capture video that was streamed on Facebook Live. Other commentary appeared on other platforms to push the protest to a larger audience.

The demonstration interestingly did more than stop the races. It also disrupted distribution of the COVID-19 vaccine as Golden Gate is serving as a host site for delivering vaccinations for area residents. Misplaced protests do have consequences larger than the issue at hand.

That activists were able to enter the facility, scale a fence to gain access to the racing surface, and then halt the program should raise a red flag for everyone involved in our great game.

On a national scale we have taken huge strides to make the game safer for horse and human. Reforms at tracks and jurisdictions, led by the Thoroughbred Safety Coalition, have affected real change. The proof is there via the The Jockey Club’s Equine Injury Database. With 11 years of data from 2009-19, the overall drop in the risk of a fatal injury is 23.5%.

One major problem with this is we’ve done a fairly poor job of pushing that message out. We are in dire need of a national platform to promote the fact Thoroughbred racing is safer than ever before. It will be further strengthened as activity on the Horseracing Integrity and Safety Act takes shape after its passage last December…but who is to tell the population at large?

As in any solution, the issue requires time and money. The investment certainly appears to be well worth it.

While the world comes out of a COVID-19 coma and economies and businesses start to open back up, racetracks will be able to accommodate more fans in the not-so-distant future. Track management needs to be cognizant and invest to have the security in place to make sure the next group that plans to hijack a racetrack is stopped. Protocols should be in place for venues large and small with security available to spring into action on any given day of the week.

Anti-racing protestors seem to have the upper hand at the moment. They are able to gain access and manipulate local media to air their grievances.

Now is not the time for sitting idly by or failing to counter on the shenanigans that threaten our very existence.

From a marketing standpoint, we should be able to beat them at their own game and disrupt their progress, not ours.

Far From Over - By Evan Hammonds

2021-03-03T14:30:00Z

Major announcements during the final week of February 2021 figure to have monumental implications for Thoroughbred breeding and racing…but we don’t expect the ramifications will be felt for awhile.

Last May, The Jockey Club announced a new rule to limit the number of mares a future stallion could cover in a calendar year to 140. We figured it wouldn’t take long for a lawsuit to be filed to challenge it. It took eight months. On Feb. 23 three Kentucky farms filed a complaint in U.S. District Court Eastern District of Kentucky, Central Division.

On the same day, Churchill Downs Inc. announced it had launched a process to sell the Arlington International Racecourse property outside of Chicago.

The lawsuit regarding the stallion cap figures to be a drawn out and expensive affair, but the plaintiffs appear to have plenty of reserves. They are B. Wayne Hughes’ Spendthrift Farm, Ashford Stud (under Bemak N.V.), and Three Chimneys Farm, which is chaired by Goncalo Borges Torrealba.

The first two have the most at stake. According to The Jockey Club’s 2020 Report of Mares Bred, 12 stallions covered more than 200 mares. Five of them stand at Spendthrift, four at Ashford, and one at Three Chimneys.

The complaints are worth consideration. Federal and state antitrust laws come into play, as well as restriction on access to certain stallions and restrictions on fair trade.

However, there is such a thing as common sense. Based on a far-from-scientific poll, social media, most local commercial breeders who posted their opinions were in favor of capping a stallion’s book to 140, agreeing in principal that the gene pool needs to remain diverse, especially with a shrinking foal crop.

How will it shake out? We’re not sure, but we know the ruling won’t come down soon. If there is any pressing timetable, it’s when the foals of 2020 (the first year the rule sets in) make their way to the breeding shed, which most likely will be when the best of the lot are retired to stud at 3 for the breeding season of 2024.

We remember a time when the top sire’s book was full at 40 mares and Arlington Park reigned as the Midwest’s top racing circuit. Those days are long gone.

Secretariat earned a big payday for winning the Arlington Invitational Stakes in 1973 and went to stud at Claiborne Farm and had a first crop of 28 named foals.

The latest Triple Crown winners, American Pharoah and Justify, bypassed Arlington. American Pharoah had 157 named foals in his first crop while Justify covered 252 mares in 2019.

Churchill’s announcement regarding the future of Arlington was a surprise, but certainly not a shock. Corporate officials had previously publicly discussed such a move, and the shot across the bow came when the state authorized tracks to offer casino gaming and sports wagering and CDI balked.

Adding to the disappointment were the comments from CDI CEO Bill Carstanjen, who last July said, “Long-term for Arlington Park, as we’ve explained to the state, it doesn’t work. That land will have a higher and better purpose for something else at some point.”

The anger is real for Illinois horsemen—as it is for anyone who has ever visited Arlington International. The facility is among the most aesthetically pleasing racing plants in the world and is one of the few tracks that—pre COVID—actually drew solid attendance supported by the Chicago metropolitan fan base.

Churchill’s track record as the owner of other U.S. tracks isn’t very good since it started buying racing venues at the turn of the century. It purchased and then sold Hollywood Park, which has since been developed into SoFi Stadium for the NFL’s Los Angeles Rams and Chargers. Calder Race Course ran its last meet at the end of 2020, a mere shell of what it once had been before casino gaming came to South Florida.

Ownership of tracks might not make sense to Wall Street, but there has always been more to racing than the bottom line.

CDI is committed to running the 2021 dates for Arlington, but we assume, like the stallion cap, there will be more to the story.

A little more than two months ago we couldn’t wait for 2021. Well, hang on…it’s only the first week of March.

Truth in Numbers - By Evan Hammonds

2021-02-24T14:30:00Z

As most sporting endeavors have suffered through delays, disruptions, and cancellations amid the current COVID-19 pandemic, Thoroughbred aficionados proudly pointed out that our sport’s profile has been lifted as racing continued and handle soared.

We now have empirical proof. The good folks at Sports & Leisure Research Group shared its “New Sports Fan Insights from the Back-to-Normal Barometer & Sports Omnibus” that shows horse racing engagement has grown 63% from April 2020 to January 2021 in its “Sports I Follow Closely” infographic

“I was at the Pac 12 basketball tournament when the world came cascading down last March,” said Jon Last, founder and president of Sports and Leisure Research Group. “Two thoughts came to my mind. The first was, this is going to be a real shot across the bow for most of our core clients, and the second was that we needed to create a barometer to poll people as to what they are going to do.

“Our back-to-normal barometer is something we do once a month, and we have from 550-750 respondents. We balance it to be reflective of the national population of sports fans.

“One of the things we’ve discovered in our research and that we are personally attuned to, is that continuity is really important. During the pandemic it shows that having something reliable that people can turn to, especially in distressing times, is important, and I think in this instance, racing has done that.

“There is the gambling side, which is a huge opportunity, which other sports have begun to seize upon, especially during the pandemic. I still think racing has that campaign aspect, that spectacle side, and just the fact you can follow story lines. One of the great attractions that we found in our work about a sport such as baseball is that it’s a long journey as opposed to just a quick hit. If you get invested in that, it’s like family members, and you can say that if you root for a university or you root for an NFL team, they are always there for you. That is, for me, where horse racing has gone.”

Besides crunching the numbers over the last 11 months, Last has been converted into a fan of racing.

“I have become addicted to racing. I got through the pandemic watching ‘America’s Day at the Races’ and TVG,” Last said. “As I came back into it, I thought, ‘OK, I’ve always been interested in this, and I’m going to see if I really love this.’ And it didn’t take me more than a couple of weeks of watching ‘America’s Day’ before I became hooked.

“I always watched the Triple Crown,” Last professed of his pre-pandemic engagement. “Racing captivated me for its pageantry, but I’m honestly not a gambler. In certain points of time, I’ve made my way to different tracks around the country, but I never really got to understand so many of the different layers. There are so many nuances to it that it fascinates me from a sports marketing perspective and from a sports fan perspective.

“I’ve climbed a really fast learning curve, but there’s so much more that needs to be done. For example, last weekend as everybody was talking about the Saudi Cup, I actually went and researched the leading transport companies just to see how they were getting these racehorses across the globe.”

Last’s story is added proof that racing remains relevant. Our job is to continue banging the drum and spreading the word.

“This is a golden opportunity to strike while the iron is hot,” Last said. “We can convert a whole lot of additional fans.”

Hot and Cold - By Evan Hammonds

2021-02-17T14:30:00Z

A mid-February storm brought us more than frosty fields in Central Kentucky. As the breeding season officially opened and foals started arriving in earnest, a thick coating of ice was the culprit for tree limbs bowing to the ground.

Despite the cold, the news cycle of the week in the bluegrass rode a hot streak.

In Frankfort, the state’s capital, the House of Representatives approved legislation protecting Historical Horse Racing just a few days after it had passed the Senate. Gov. Andy Beshear is expected to sign the bill that redefines the state’s definition of pari-mutuel wagering to include HHR games. A good portion of HHR revenue fuels purses in Kentucky, which obviously benefits horsemen and should green light construction and renovation projects at Churchill Downs, Ellis Park, and Turfway Park.

The swift work of horse-friendly senator Damon Thayer and representatives David Osborne and Matt Koch is to be commended. Prior to that vote late on Feb. 11 came news from Keeneland that was equally commendable.

The Lexington track announced local horseman Gatewood Bell would join the management team as vice president of racing. The position became available after Bob Elliston resigned from the post in late December.

The horseman has proved successful as a bloodstock agent under the Cromwell Bloodstock banner and the racing partnership Hat Creek Ranch. He previously served on the Kentucky Horse Racing Commission and last year was named to Keeneland’s board of directors.

A proponent of the hiring of Bell is Everett Dobson, who has had solid success in racing through his Cheyenne Stables, with the assistance of Bell as his bloodstock agent. In the last decade Dobson has become a member on just about every board we can think of and was named a Keeneland trustee in March 2019.

“I think it’s a great move, and more importantly (new president) Shannon Arvin thinks it’s a great move,” Dobson said. “She identified Gatewood early on as the kind of candidate she was looking for to fill the position. We talked a lot about it and talked with Gatewood a lot about it and came away convinced he was the perfect match for the opening on the racing side. I’m very excited for Keeneland because I think it’s a perfect match, and I’m excited and pleased for Gatewood to make this kind of career move.

“Integrity is at the highest level with Gatewood,” Dobson continued. “I think we first started working together in the bloodstock world more than 10 years ago. In terms of his work ethic, it’s at the highest level and bodes well for what Keeneland strives for as well.”

Dobson expanded on the duties for Bell.

“He will have full control on the racing side of Keeneland; all of the elements of the race meets and racing activities,” he said. “He’ll have responsibility over the health and safety of the horses and the health and safety of the racetrack. The job consists of a lot of interaction with the horsemen, owners, trainers, and jockeys, and he should be very comfortable in that role.

“When you see Gatewood on the backside, whether it’s at Keeneland, Saratoga, or anywhere in the country—even California for that matter—everybody knows Gatewood. For the most part he already has a prior personal relationship with a lot of them. It should be an easy transition for him.”

Pedigree and performance are key elements for success in the Thoroughbred world. Bell has both. His father, Jimmy Bell, is president of Darley America, and Jimmy Bell is the product of John A. Bell III and Jessica Bell. The elder Bell founded Jonabell Farm in 1954 and later helped form the American Horse Council. He was also a strong leader for the Thoroughbred Owners and Breeders Association, serving on the publication board of The Blood-Horse.

On the performance side, specifically for Dobson, Gatewood Bell selected and managed grade 1 winner Mastery, who was retired after winning the San Felipe Stakes (G2) in March 2017. Standing at Claiborne Farm, the son of Candy Ride has his first foals recently turning 2.

Keeneland’s upcoming April meet is historically a springboard for early juveniles, and Mastery’s first runners might make the entries. The stand will be a proving ground for both.

Touchdowns and Stretch Runs - By Evan Hammonds

2021-02-10T14:30:00Z

For most of us the opportunity to land a championship of any variety comes through a very small window. For a precious few that play at the highest level, brilliance and consistency put them in a position to excel year after year.

We were reminded of this over the weekend that culminated with Super Bowl Sunday, an American holiday of football, spectacle, and indulgence. It’s serious business on the gridiron, however, and no one has been more successful than Tom Brady who, as quarterback of the Tampa Bay Buccaneers, made his 10th appearance in a Super Bowl Feb. 8. The Bucs’ 31-9 win over the Kansas City Chiefs gave Brady his seventh victory. His first six came at the offensive helm of the New England Patriots, notching titles in 2001, 2003, 2004, 2014, 2016, and 2018.

The day before the Super Bowl trainer Bob Baffert continued his annual assault on the North American classic Thoroughbred races. Much like Brady, he’s a six-time winner of his sport’s most important event, the Kentucky Derby Presented by Woodford Reserve (G1). Not far off Brady’s arc, his first Derby victory came with Silver Charm in 1997 and his latest was last year’s winner, Authentic.

Baffert, with three runners on Byron King’s Derby Dozen for 2021, had two of the five starters in the Feb. 7 San Vicente Stakes (G2) and ran one-two with Gary and Mary West’s Concert Tour and SF Racing, Starlight Racing, Madaket Stables, Golconda Stables, Siena Farm, and Robert Masterson’s Freedom Fighter. While Brady has made 10 Super Bowl appearances, Baffert has won a record 11 runnings of the San Vicente.

The day after the San Vicente, Baffert unveiled the ultra-hyped Bezos for SF Racing, Starlight Racing, Madaket Stables, Stonestreet Stables, Golconda Stable, Siena Farm, and Robert Masterson a few hours before Brady took the field to face off against the Chiefs. The seven-member ownership group might have been top heavy as the Empire Maker colt ran seventh at Santa Anita.

Much was made of Brady’s run this year as it came with a new team. He had left New England for a fresh start in Tampa Bay… a team that appeared to be on the rise, that had plenty of offensive “weapons” for his disposal. Baffert has to reload for the classics each year. His “weapons” include a talented team and willing owners to provide the capital for him to select the best and brightest from the yearling and 2-year-old auctions.

Despite having a lot of backers, both Brady and Baffert have their fair share of detractors. Baffert’s string of medication positives in 2020 adds fuel to those who believe there is something below board going on, but he’s far from the only trainer to face the scrutiny of industry naysayers. In this sport it comes with the territory; it comes with being a winner.

Will Baffert collect his seventh Derby win this year? We’ll find out May 1.

Keeneland released its 2021 spring stakes schedule Feb. 2, or Groundhog Day. Regardless of what Punxsutawney Phil told us—which is six more weeks of winter—we know it’s eight weeks to opening day in Lexington.

We’re hopeful more patrons (and media) will be allowed on the grounds, but we understand the precautions necessitated by COVID-19. The announcement brought to mind a bit from former editor Kent Hollingsworth in this space named “A Season Of Plenty.”

“About 73 per cent of all racing in North America is a bore, that is, claiming events and races at less than a mile. This is fortuitous, as Candide pointed out just the other day, for it sets off in relief and permits special enjoyment of infrequent good racing.

“If Keeneland ran 240 days, or if Saratoga started in July and dragged on through September, these meetings probably would become tiresome, too. As they are, however, Keeneland and Saratoga provide brief, bright, fun interludes, 15 days in April and 24 days in August, that break the monotony of the 6,867 other race days in North America.

“Keeneland in the spring presents the sport at its best—good horses, well-kept grounds, colored by dogwoods and pervaded by the fragrance of honey locust blossoms, displaying the promise of new 2-year-olds, building hopes and anticipation as the Kentucky Derby starters are sorted.”

Here is to the hope—and warmth—that spring will soon bring.

Live to Tape - By Evan Hammonds

2021-02-03T14:30:00Z

The National Thoroughbred Racing Association had big plans for the 50th anniversary of the Eclipse Awards. However, its lengthy list of ideas to celebrate the half-century of the best in Thoroughbred racing and breeding was tossed due to the COVID-19 pandemic. Put a large group of people together in an awards ceremony setting? Forget about it.

Plan B, producing a “virtual show” with the entire program being shot and produced in advance and shown as if it were a live event, was one of many winners the evening of Jan. 28. It just might be a template for award presentations in the future.

Many talented hands were required to pull the show together that included taped segments from “host site” Spendthrift Farm near Lexington, Gulfstream Park, Santa Anita Park, and the Studio 46 production facility in Lexington. Hosting the event was respected broadcast journalist Kenny Rice who manned the podium for the fifth time. Checking in with Rice the day after the program streamed, we found it interesting to learn he had taped his segments two days before the event and even he didn’t know the winners until he watched the program just like we did.

“I went in Monday morning when we were supposed to do it, but it was moved because of the weather (it rained more than two inches in Central Kentucky Jan. 25),” Rice said. “Britney Eurton and Jeannine Edwards were doing their introductions out at Spendthrift Farm on Monday, but we had all that rain, so they moved it.

“That was the biggest change. Everything else fell into place. Everybody was where they were supposed to be and do what they did. The show overall, maybe, moved faster and that’s a credit to G.D. Hieronymus and Amy Zimmerman who put it all together.

“Naturally, all of the winners had been notified, and just about every acceptance speech was already in the can when I showed up to do the intro taping. I didn’t know all of the winners…I was throwing to Acacia (Courtney) and Gabby (Gaudet), and to Gary (Stevens) and Jay (Privman), and to Britney and Jeannine. Some of them I obviously knew, but some I didn’t. It was fun when I watched it back Thursday night to see all of the winners.

“There were a few givens going in, but, for example, I didn’t know who won the trainer award until I watched it. Three-year-old filly…I didn’t think anybody else but Swiss Skydiver was going to win, but I wasn’t sure until I saw (trainer) Kenny (McPeek) give his speech when I watched it.”

As for the taping, the seasoned pros jumped in to make it happen seamlessly.

“G.D. and Amy and the crew out there at Studio 46…there was a buzz,” Rice said. “I think everybody was excited about doing it this way. We breezed through it, which is always a good sign. There were not a lot of retakes. It was close to ‘live from tape,’ which is the way to do it. That way you keep that energy level up, and I thought the energy level carried it through.

“G.D., Amy, and I go back several years…we’ve covered many events together, so when Amy called to ask me about it a few weeks ago, I said, ‘sure.’ Because I like working with them…and to be honest, I was curious how they were going to put this all together.”

And pull it together they did. As the pandemic has forced us to change so many things we do, perhaps the “virtual event” will stick around.

“Watch any awards show…there has to be some ‘celebration.’ I thought it came off that way,” Rice said. “People were relaxed, and all of the co-hosts were terrific and very knowledgeable in the way they set up the categories.

“Having some of it done at Spendthrift Farm…that was great. Having Mr. Hughes 20 feet away from Alex Waldrop presenting Horse of the Year, and panning over…that was really good stuff. That was fun to watch whether I was hosting or not; I wouldn’t be opposed to watching a show like that again.

“I would suggest the industry take a closer look at how well it came off last night. Honestly, maybe it’s because we’ve gotten used to going through the Triple Crown with a limited audience, the Breeders’ Cup…being around big events where there is little or no audience, it’s become accepted.”

One thing we must also accept is the fact our sport has endured during the age of COVID. Rice agrees.

“That was a great thing about horse racing in 2020; it was the only sport that never stopped,” he said. “Horse racing never stopped. There were a few hiccups along the way…like the Eclipse Awards…it was a different 50th anniversary, but we still celebrated it with some great winners.”

Flight Pattern - By Evan Hammonds

2021-01-27T14:30:00Z

Despite it being only the fifth running, the Jan. 23 Pegasus World Cup Invitational Stakes (G1), with its complement of undercard stakes, has come a long way.

Remember back in the day—all the way back in 2017—when owners were asked to pony up $1 million each for a starting berth in the inaugural Pegasus that carried a $12 million purse? While the format was a departure, The Stronach Group was able to pull the event off thanks to the star power of California Chrome and Arrogate that gave the race some much-needed traction to make it more than an one-off event.

The purse ballooned to $16 million for 2018, but has settled into stride with a $3 million purse. It’s now entrenched on the racing calendar, straddling the Breeders’ Cup Classic (G1) and the deep winter races that take place in the Middle East—the Saudi Cup and the Dubai World Cup Sponsored by Emirates Airline (G1).

The COVID-19 pandemic has caused every business model on the planet to adapt and the Pegasus is no different. Marketed as a “see-and-be-seen” event in South Florida by horse-types and celebrities alike, being on site was out of sight this year. The program played well on national television and handle of $40.7 million compares favorably with last year’s figure of $41.8 million.

The winner, and heavy favorite, was Knicks Go, who races for the Korea Racing Authority. The KRA, which runs the sport in South Korea, has but four horses in training in the U.S.

The KRA paid $87,000 for Knicks Go as a yearling. He was talented enough to win at the grade 1 level at 2 and ran second in the Sentient Jet Breeders’ Cup Juvenile (G1) while with trainer Ben Colebrook. The horse’s form has been terrific of late since he joined the barn of Brad Cox.

The Maryland-bred registered a resounding score in last fall’s Big Ass Fans Breeders’ Cup Dirt Mile (G1) at Keeneland in a track record 1:33.85. Knicks Go was left alone on the front end of the nine-furlong Pegasus, clicking off hot fractions en route to a 1:47.89 clocking.

“We’ve had some horses we’ve claimed who have won stakes, but I haven’t seen anything like this,” Cox said after the Pegasus. “I wish I could say why it happened, but I don’t know what was happening before. He was great at 2 and looked like a good horse when we got him.”

The Pegasus had its share of doubters early, but the management team at Gulfstream has been able to transform the program to a “must-see” race on the calendar. Cox, too, has come a long way since 2017.

Another transformation has been made by Louisville, Ky., native Cox, who got his start at Churchill Downs with local owner Richard Klein more than 15 years ago. He notched his first grade 1 victory in the spring of 2018 with champion Monomoy Girl and has seen his star ascend dramatically. His barn now runs deep with talent from the international stables of Juddmonte Farms and Darley. His Essential Quality ranks No. 1 on Byron King’s initial Derby Dozen.

The trappings that come with success in this business also come with suspicion. Social media is rife with detractors, a fertile breeding ground for those knocking the sport and its major players. Cox’s skills have risen to level that finds him a target. We’ll find out soon how thick his skin is.

A little more than a month ago the Thoroughbred world was stunned by a video expose by the People for the Ethical Treatment of Animals on the slaughter of racehorses in South Korea and learning that the stallion Private Vow had been slaughtered for meat.

Belinda Stronach, chair and president of The Stronach Group, announced at the time: “The Stronach Group is urging all North American auction companies, breeders, and owners to develop policies that prohibit the sale of Thoroughbred racehorses or brood mares to South Korea without the meaningful and binding assurances that these noble animals will be protected after their racing and breeding careers.”

Racing makes strange bedfellows, for sure. There appeared to be a cordial atmosphere as Stronach and the KRA’s Jun Park met in the winner’s circle.

Two days after the event Park politely declined to comment.

Money on the Table - By Frank Angst

2021-01-20T14:30:00Z

As usual, shortly after I pull into the bank parking lot located in New Albany, Ind., just across the Ohio River from Louisville, Ky., a fellow traveler parks his car a few spots down from mine. I soon glance his way and notice he’s focused on his phone and skimming through notes. He looks my way and sees those same actions reflected. We nod in recognition.

I soon get out of my car to buy a Diet Coke from the gas station next door, and there is another person sitting in his car in that lot. There isn’t any need for me to ask what he’s up to—his phone light illuminates his downward face on this overcast day.

What has brought us all to this sleepy Indiana town on a late-morning Saturday? It isn’t a great brunch, cheap gas, or a perfect cup of coffee. The attractions on this cold day are easy access from the first Indiana exit off I-64 West, readily available parking at the bank (closed on Saturday), and the opportunity to operate our mobile devices using an Indiana cell tower in order to legally bet on sports.

Kentucky does not allow sports wagering, but Indiana does. So each weekend Kentuckians flock either to out-of-state brick-and-mortar casinos or to the first interstate exits across the state border to place sports wagers online. Currently, Kentucky is all but surrounded by states that legally offer sports wagering: Indiana, Illinois, Tennessee, and West Virginia. Virginia will soon join the mix.

These cross-border trips to bet on sports also have been well-documented in New York, which also doesn’t allow sports wagering although Gov. Andrew Cuomo, who previously has opposed sports wagering, might be willing to consider it. I reached out to sports betting site FanDuel, and they note that 25% of their New Jersey platform customers reside in New York. Weekend migrations have become the norm.

My round-trip adventures are a little less than two hours. But, if Kentucky legislators would approve sports gambling at racetracks—as proposed in a bill this year crafted by Rep. Adam Koenig, an Erlanger Republican—I’d much prefer a 10-minute trip to Keeneland. Not to mention that once COVID-19 is conquered, a day at Keeneland or The Red Mile spent wagering on horses, football, and basketball would be much more attractive than a morning in my car—driving one way, filing a few bets, then driving back.

By allowing Kentucky tracks to offer brick-and-mortar sports wagering locations, the legislation provides some added revenue for racing. But, more importantly, it would bring potential new customers to the tracks. The typical sports bettor is much more inclined to give horse racing a try than say, a slots player. Kentucky tracks and simulcast outlets would figure to be places to gather for the Super Bowl or for University of Kentucky basketball games. It is safe to say those crowds would likely give horse racing a chance.

The Kentucky legislation has bipartisan support and the backing of Kentucky Gov. Andy Beshear, a Democrat. Still, most political experts give it little chance of passing this year. Meanwhile, Indiana saw sports wagering surpass $300 million in December—a record for any single month in the state and nearly doubling the total from December 2019. I’m one of many Kentuckians who helped make that possible.

I wish that weren’t the case. I’d prefer any taxes on my betting activity go to Kentucky and its signature industry as opposed to the good people of the Hoosier State. For now that’s not possible; thus, I make the drive.

The trips provide time for thought, time to ponder issues like how strange it is that one state wants my money and one state does not.

Brand New Day - By Evan Hammonds

2021-01-07T16:00:00Z

Delivery of news and information has come a long way since cave painting. Daily newspapers have been around since the 1600s. BloodHorse, which began in 1916 as the monthly publication The Thoroughbred Horse founded by the Kentucky Thoroughbred Horse Association, switched to a weekly publication in May 1929. That was in a time when "live" sporting results came via telegraph and were read aloud at Lexington's old Phoenix Hotel.

BloodHorse announces a bold step forward today: The weekly print publication will return to its roots, and a monthly print format, for April 2021 (our last weekly edition will be dated March 27, 2021). That's not the only announcement: additional content in the form of BloodHorse + will be available for subscribers.

Of course today we do a lot more than publish, print, and mail a weekly news magazine. BloodHorse.com is a 24/7 endeavor, bringing up-to-the minute news, race results, sire lists, and auction data, that can be consumed in a myriad of ways. BloodHorse Daily offers a one-a-day dose of information and analysis to more than 20,000 subscribers. The print edition and online version of the Stallion Register, along with the Global Stallions app, will remain vital tools for assessing the quality and value of bloodstock, both nationally and internationally.

The new monthly format will allow us to stretch our legs a bit and dive deeper into the issues, people, and horses that make up the fascinating business of Thoroughbred breeding and sales, and the exciting sport of Thoroughbred racing.

And with the shift, we'll soon introduce BloodHorse + to subscribers, which will provide additional video, data, and pedigree information for our voracious audience. We think you will find BloodHorse + a "must read" component to our growing list of products.

We're proud of our weekly run with BloodHorse as a print product, but as mentioned, delivery of information has come much more mobile through the decades. Once a mailbox and newsstand product only, BloodHorse advanced a daily product, via facsimile (better known as a fax machine) in the mid 1980s and by 1995 we were an industry front-runner with Blood-Horse Interactive, which became BloodHorse.com.

The first weekly edition of the printed The Blood-Horse was dated "Week Ending May 11, 1929" and featured Blue Larkspur, Earl Pool up, on the cover. Col. E.R. Bradley's Blue Larkspur upended Clyde Van Dusen at Lexington's Kentucky Association track (Keeneland wouldn't open for another seven years) in a prep for the May 18 Kentucky Derby.

"WE ISSUE EACH MONDAY" read the opening line of that issue of The Blood-Horse. We continue to publish on Mondays in 2021.

Editor and publisher Thomas Cromwell continued:

"About this time last year we told our readers that, if and when we could see our way clear to do so, we would make publication of this journal more frequently than monthly. We expressed then the hope that eventually we could issue it weekly.

"In The Blood-Horse for April we announced as a step in that direction that beginning May 6, we would put out each week a 'Monday Letter' in printed form, which would contain information of great value to all who are interested in the Thoroughbred horse."

Later in that first issue Cromwell noted:

"So here it is, The Blood-Horse in its first appearance as a weekly publication. We hope you will like it, and that it will ever merit your patronage, both as a subscriber and advertiser, and that you will tell your friends about it, to the end that it may continue to grow and prosper."

The publication has grown and prospered since spring 1929, and look what it's gone through: depressions, recessions, world wars, and pandemics. It has ebbed and flowed as the Thoroughbred industry, from a foal crop of 4,903 in 1929, to a high of 51,296 in 1986, to a foal crop today of some 18,950 for 2020.

You, the reader and advertiser, have been here for us, and we've been here for you...and will continue to do so in an hourly, daily, and now monthly touch. We look forward to continuing to serve your Thoroughbred breeding and racing needs and are excited about the prospects ahead.

Right Direction - By Evan Hammonds

2021-01-06T14:30:00Z

We let the screen door hit 2020 on the way out last weekend and look forward to a new year. All things considered, the last year had several positive moments for Thoroughbred racing as the industry rose to the occasion amid a pandemic to keep the game going at major racing centers across the country, in the breeding shed, and at sales venues.

As much as we’d like to have them, there are little to no expectations that 2021 will be all roses. Issues regarding the safety and well-being of our sport abound. The passage of the omnibus bill just before New Year’s Eve ushers in a new era with the Horse Integrity and Safety Act, but that officially won’t be fully implemented until mid-year 2022. That’s a long way to the wire.

The issue of advance deposit wagering along with the breakdown of the pricing model is one of many elephants in the room. Smarter people than we will be needed to sort out a better, more equitable model for horsemen and tracks. If anything, the results of COVID-19 and a lack of onsite wagering (where a larger slice of the pie goes to purses) will hopefully fast-track this discussion.

The biggest issue continues to be race-day medication. In this instance, the wheels are rolling in the right direction.

It didn’t take long for new rules regarding the administration of Lasix (furosemide, or Salix) in stakes races to hit center stage in 2021—try the first day of the year.

After a season of racing where most major jurisdictions banned the use of Lasix in 2-year-old races, the new year ushered in the next phase of a plan that will eventually eliminate the use of the diuretic on race day in North America. In addition to races for juveniles, the ban on race-day administration of Lasix extended to stakes races run in New York, California, Florida, Kentucky, as well as other states for 2021.

Santa Anita Park offered the first graded stakes of the year, the Joe Hernandez Stakes (G2T) for older sprinters going 6 1/2 furlongs Jan. 1.

Prior to the race, trainer Peter Miller, who had two runners entered in the Hernandez, told BloodHorse’s Byron King: “Talk about just shooting yourself in the foot. These idiots think that it is going to move the needle. It’s going to move it the wrong way,” Miller said. “The people that like horse racing like it. People that don’t—Lasix doesn’t matter.”

Miller, outspoken in his comments in favor of continued use of Lasix, won the race with Tom Kagele’s Hembree while Altamira Racing Stable, Rafter JR Ranch, STD Racing Stable, and A. Miller’s Texas Wedge finished fifth. Miller stated in a text message that Texas Wedge had bled “3 out of 5. Needs 50-60 days turned out.”

Miller—who won the following day’s San Gabriel Stakes (G2T) with Peter Redekop’s Anothertwistafate—is not alone in his feelings toward Lasix. As we all know, it’s been a hot-button issue for as long as it has been legal in Thoroughbred racing—some 40-plus years.

However, a movement to remove all medications from race day has gathered enough traction and has been championed by enough industry leaders in the span of the last decade to swing the pendulum. We have just entered the next segment—albeit an awkward one—of the phase-out.

The rules at present do appear spotty at best. For example, 2-year-olds that could not race on Lasix last year, now can in 2021…but not in stakes races. Older runners can race on Lasix at the allowance and claiming levels, but not in stakes.

Consistent? No.

Confusing? You betcha.

However, it’s one of many steps on the bridge. This too, shall pass. Ultimately the use of all medications within 48 hours of a race will be restricted upon the implementation of HISA.

Now is not the time to waver. It’s going to take a while to get there, but the current path we are on will get us to the right destination: a sport with more integrity, a sport with a more level playing field, and a sport that has respect both inside and outside our insular world of Thoroughbred breeding and racing.

Turning the Page - By Evan Hammonds

2020-12-30T14:30:00Z

Based on the last few days of 2020, there appears to be a lot to look forward to in 2021. Just prior to Christmas the Horseracing Integrity and Safety Act was part of a massive omnibus bill passed by both houses of Congress and was signed into law Dec. 27. The day after Christmas, opening day which traditionally ushers in the new year at Santa Anita, announced record handle of more than $23 million.

Even as we plow full steam ahead into January, we can’t help but take a sneak peek over our shoulder as a pair of long-running employees punched the clock for the last time at BloodHorse. Retiring as of the stroke of midnight on New Year’s Eve are Shirley Dievert, who served in many capacities at BloodHorse for nearly 40 years, most successfully selling advertisements; and sales editor Ron Mitchell, who has worked in racing as a journalist at Thoroughbred Record, Bloodstock Research, and Thoroughbred Times before coming to BloodHorse in 1991.

Even though Mitchell didn’t know a sire from a dam in 1976, Thoroughbred Record editor Dan Farley saw something in him and offered him a position in the research department. Mitchell later worked for Dick Broadbent’s Bloodstock Research Information Systems and was in on the ground floor of the electronic/data business.

“Dick Broadbent...he was a larger-than-life character,” Mitchell recalled. “He tried to thumb his nose at the blue bloods in the industry. His concept behind starting BRIS was to compete and have more of an ‘everyman’s’ alternative to The Jockey Club, which already had its own database. His motivation for starting Thoroughbred Times was to show an alternative to what he thought was the inadequate depth of coverage in The Blood-Horse.”

Mitchell left the industry to hone his skills as a reporter for the Bowling Green Daily News, then returned in the early 1980s to do research and write contracts for the late Thoroughbred-based bloodstock agent Dick Lossen. He later became one of the original staff members of Thoroughbred Times.

Mitchell continued to ride the wave of innovation at BloodHorse as he was the first managing editor of BloodHorse Interactive in 1995 (now BloodHorse.com).

“With my journalism background and thriving on the immediacy of getting news out there…that was right up my alley,” he said. “In those days we wrote stories and posted them at noon and at the end of the day. It wasn’t long before other people started it, too; but we were the first.”

Mitchell’s latest role, covering the colorful world of Thoroughbred auctions, has left an indelible mark.

“The people I’m most impressed with in the industry are those who breed and sell horses, and those who buy and sell horses,” he said. “They are gambling every year with the whims of Mother Nature and the whims of the market. ”

Mitchell also has a trio of horses that stick with him.

“Smarty Jones, Afleet Alex, and American Pharoah,” Mitchell quickly said. “Those three were able to bring horse racing to the general public in a huge way that harkened back to the days of Secretariat, Seattle Slew, and Affirmed. For a modern generation, they brought mainstream America into the realm of horse racing.

“Smarty Jones had ‘Smarty Mania’ and a huge following. One of the most unforgettable days was at Belmont Park when he was storming down the stretch in his attempt to win the Triple Crown. That place was rocking…and when he got passed, the
eeriness of the silence was incredible.

“Afleet Alex had Alex’s Lemonade Stand and that got a lot of kids interested in racing. It was a good charitable cause. American Pharoah was interesting in how his connections let the public get close to the horse. He was such a valuable horse, but they gave people access. When he won the Triple Crown, the roar of the crowd at Belmont was something you can never forget.”

Mitchell sees the future of the industry as bright, pointing toward the HISA.

“I find as I’m retiring that the horse industry is accomplishing something it has been trying to do for as long as I can remember: to get consistency and uniformity. What has just recently happened took an act of Congress…and it’s transformative. It’s going to level the playing ground for everybody. There won’t be the inconsistencies of the past, and trainers will know what they can or cannot do. The fact it has happened is amazing. That’s huge that this happened.”

Kentucky Trails - By Evan Hammonds

2020-12-16T14:30:00Z

Little did we know back in early February when we spent a snowy evening at Turfway Park what would come our way during the last 10 months of 2020. What followed might be best summarized by crazy, bizarre, exhilarating, isolated, thrilling, enlightening, and distanced. Let’s add challenging for good measure.

But that evening in Northern Kentucky was clearly a harbinger of things to come in a year in which we witnessed a full spectrum of emotions during our tour of Kentucky racetracks.

The reason for the trip was a “farewell” of sorts as at meet’s end the 61-year-old grandstand—at the track formerly known as Latonia—faced the wrecking ball. We spent the evening talking with horsemen and a crowd best described as “thin” and walked nearly every inch of the four-floor facility. We returned to Turfway March 14—as the COVID-19 pandemic first started to grip the nation—to witness the “owners only” Jeff Ruby Steaks (G3) that was equally as sparse.

Sparse was an even better term for the scene April 30 along Longfield Avenue that runs the length of the backstretch of Churchill Downs. With the state’s signature events—the Longines Kentucky Oaks (G1) and Kentucky Derby Presented by Woodford Reserve (G1)—respectively postponed until the first Friday and Saturday in September, Longfield Avenue was forlorn, empty of vehicles and people with the lone exception of a single homeowner mowing her lawn.

Around the bend on South Fourth Street, Churchill Downs’ backstretch sentinel “Plummie” Bass manned the security gate, a mask and a pair of Playtex rubber gloves added to his security equipment. Across the street curbside pick-up was the only service option at the famed lunch counter Wagner’s Pharmacy.

“When I got up this morning I started to cry,” said Joanne Hellman, a Wagner’s employee for 19 years. “This is our week, this week. We look forward to all the trainers and their staff coming back and coming in here. It’s quite sad.

“This time of year we’re making more money than we can carry home, and now we’re not making enough to even open our wallets. We’re going to be a long time getting over this.”

Ellis Park opened its doors July 2 but only allowed 450 patrons per day. We shipped to the Henderson, Ky., track July 3 where the mood was a mixed bag of relief, hope, and caution.

“I talked to one gentleman yesterday who said he’d been to more opening days than he’s been married, and his wife had been to 57 opening days with him,” said track employee Kim Shafer. “He said, by far, this was the most shocking.”

Running a few weeks behind schedule, racing secretary Dan Bork was able to get about 400 horses on the grounds for the opening week. They have room for 900. However, horsemen being horsemen, the meet came together…and was actually successful considering the circumstances thanks to a rise in advance deposit wagering and expanded reach via TVG.

With Keeneland’s special July stand closed to media, we ventured back to Ellis for the Aug. 9 Runhappy Ellis Park Derby, which Art Collector won by a socially distanced 3 1/2 lengths. Breeder/owner Bruce Lunsford’s enthusiasm seemingly filled the near-empty apron.

The Labor Day weekend Kentucky Derby was reserved, as about 1,500 were on hand for the Run for the Roses instead of the usual 150,000. While the action was tense inside Churchill Downs, it was intensified outside the gates with protestors in support of Black Lives Matter and for Breonna Taylor, who had been killed during a “no-knock” raid by Louisville Metro Police in March.

With 45 minutes to post, a large, vocal contingent arrived via Central Avenue.

While taking some photos from the top level of the Top of the Stretch portion of the track, we were gently asked to move by a local law enforcement officer, who noted there were people pointing rifles at us.

Despite a summer-long threat, there was no disruption during the race, and within a few minutes after the Derby was made official, the crowd had dispersed.

Finally in the fall we were allowed on the grounds at Keeneland Nov. 3 to see an eerie sight of a near-empty apron and grandstand as horses prepped for the Nov. 6-7 Breeders’ Cup World Championships. We almost expected to see tumbleweeds bounding past but instead saw some of the best Thoroughbreds on the planet.

The Breeders’ Cup results were uplifting as were the prospects of a vaccine for COVID-19 that was announced days later.

Indeed, the year has been a wild one. Let’s hope it’s a singular sensation for the sake of those inside and outside the world of Thoroughbred breeding and racing. We like the prospects of 2021 bringing better days.

New Stallions, New Year - By Evan Hammonds

2020-12-08T16:25:00Z

Pandemic-infused 2020 has put most American workers in one of two camps. The first includes the most unfortunate: those who are unemployed and those who are underemployed “non-essential” types. The second group is COVID-be-damned and busier than they’ve ever been. Luckily, those in the Thoroughbred business are more than likely in the latter group.

While the foal crop continues to shrink according to both The Jockey Club’s “Live Foal Report” and “Report of Mares Bred,” the breeding industry appeared pretty active this year during the early days of COVID-19. It was business as usual as breeding sheds remained in service, albeit under stricter health guidelines than in years past. Sales of 2-year-olds, yearlings, and lastly weanlings and broodmares were all off 2019 figures, but, lo and behold, there are more incoming stallions for 2021 than for last year. For 2020 there were 17 new prospects in Central Kentucky; this year there are 22. The same can be said for the regional markets, where there are six new guys in Florida, five in Indiana, and four in New York.

What gives?

“It almost seems counterintuitive, but here we are,” said Pope McLean Jr., whose family’s Crestwood Farm near Lexington unveils Runhappy Travers Stakes (G1) runner-up Caracaro and Chiefswood Stables’ Canadian sprint star Yorkton to Central Kentucky breeders.

“It is always challenging, but we have people who have been breeding to our stallions for quite awhile, and we try to stand stallions where the partners we have are also going to support the horse. It’s so hard. Both are nice physicals…you have to be tough on the physical. They have to like the horse when they come out to see it or it doesn’t work.

“We have a lot of things come together, but we feel like we can get enough mares to a stallion to give him a chance to hit.”

Support is important at any level of the market but especially so to young stallions that aren’t at the tip-top of the market or perceived commercially to be the next big thing.

The O’Farrell family’s Ocala Stud in Central Florida has three new stallions for 2021, and all three will be backed with mares from their breeders/owners. David O’Farrell notes Charles Fipke will support his homebred Seeking the Soul, and Kentucky’s Airdrie Stud has partnered on both Win Win Win and Dak Attack.

“It’s been a tough year, but you have to keep your head up and plow forward,” O’Farrell said.

Adding to the lead, O’Farrell said: “We are fortunate that we are up from last year. A lot of clients haven’t wavered and might even have a few more horses than last year. Perhaps they found opportunities at the sales this year. The sales were down, but we are plenty busy with the boarding and breaking right now.”

O’Farrell advised that Ocala Stud had more horses than last year to break and to get started toward 2021 campaigns, while Florida breeders have a little different timetable than Kentuckians.

“It’s slow to get people to think about whom they are going to breed to here. They’ll call and want to get a stallion season and then say, ‘Oh, by the way, I need to book her for this afternoon,’ ” he said with a laugh.

Life at Crestwood is a little different without a breaking and training element, but they, too, appear poised toward the future.

“I thought that it held up pretty well under the circumstances we are facing,” McLean said of the farm’s 2020 business. “Other than having a lot of clients—whom we love to see—not coming to the farm and the (Keeneland) spring meet being canceled, life didn’t change very much. As for how it will affect us, we won’t know. The sales obviously were down, but they weren’t as down as they could have been.

“We were buying some mares, but it was tougher than we thought it was going to be, and that’s good. There were 800 fewer horses in the Keeneland sale, and that reduced supply had to help the sale,” he said. “We usually sell about 10 weanlings every year, and we only put three in this year and got two of them sold. We were anticipating the weanling market being soft.”

As busy as everyone has been this year, horsemen still only have one way to go: full speed ahead.

“Overall, I have to be optimistic…but I’m not blindly optimistic,” McLean told us. “I feel good going forward. Once we get the COVID situation behind us, we’ll be OK.”

Holiday Cheer - By Evan Hammonds

2020-12-02T14:30:00Z

It’s amazing what a little grade 1 cheer can bring to a Thoroughbred breeding operation…especially during a year such as 2020. Such was the case out on Ironworks Pike north of Lexington at Mulholland Springs Farm. Martha Jane Mulholland bred Bodexpress, winner of the Nov. 27 Clark Stakes Presented by Norton Healthcare (G1) at Churchill Downs.

“It’s a rare occasion…it’s to be celebrated,” said John Henry Mulholland, Martha Jane’s son.

Bodexpress, who races for Lucas Noriega’s Top Racing, Rafael Celis’ Global Thoroughbreds, and trainer Gustavo Delgado’s GDS Racing Stable is best known for dumping John Velazquez in front of a national audience just after the break of last year’s Preakness Stakes (G1). He’s obviously gotten his act together at 4, proving age and maturity do have its privileges.

Bodexpress, who RNA’d twice, is by Bodemeister, who was shipped off to Turkey last October. The Mulhollands sold Bodexpress’ dam, Pied a Terre, in foal to Gemologist to the Korean group K.O.I.D. for $17,000 at the 2017 Keeneland November sale. The industry maintains its global reach.

“I liked the mare. It seemed like her foals took a little longer to come around,” Mulholland said. “When we sold Bodexpress, everybody was cool on Bodemeister. And we had to take a chip out of a stifle only a month or so before the sale. When we sold the mare, we had bred her to Gemologist, and by then, everybody had cooled on Gemologist. The plans didn’t come together for us, but I liked her foals…they just took a little bit too long to mature.

“It just didn’t quite come together, but that happens. It won’t be the first time that one got away from us, but as long as we’re keeping more of the good ones and not letting all of them get away, then we’ll be OK.”

In a difficult year such as 2020, “OK” might put someone in high cotton. Mulholland Springs hasn’t been without its challenges during the pandemic but has had a better year than most in the sales ring.

“Not a whole lot has changed,” Mulholland said of a COVID-19 2020. “We did have some that were under the weather after the September sale and after the November sale. I simply had to send them home.

“Our farm manager, Jesus Pinales, has been with us since he was a teenager, and he’s been the farm manager for close to 20 years. We have 16-17 guys—he had constantly been getting them tested; not every week, but every other week, leading up to the September and November sales. We have been trying to mingle as little as possible, but life has to go on.

“You have to feed and care for the horses; breed the horses; foal the mare; and prep for the sale…it’s just the way it goes.”

Mulholland pointed to this year’s sale leaders list. The farm ranks 36th among all consignors by gross for 2020, with 73 horses sold (from 100 offered) for $4,820,400. They sold 23 yearlings at the Fasig-Tipton Kentucky October yearling sale for $634,700.

“We went down to the ring for the October sale with a horse that had been looked at a lot but not a lot of real vetting at the barn, and we were still getting $40,000-$50,000,” Mulholland said. “I thought that was resilient. We sold some at September…a few we had to take some losses on, and that’s just the way it goes. All in all, we were prepared for the worst, and I don’t feel it was the worst.

“I know some people had some horrible sales and some disasters, but people in this industry are resilient. There was a lot anxiety-ridden weeks leading up to the sales, but the sales companies did all they possibly could.

“I think a lot of people wouldn’t know what else to do. I know I don’t have a whole lot of other skills. I don’t have a lot to fall back on.”

Like everyone else in the business, Mulholland has concerns beyond COVID-19…one in particular that needs to be addressed.

“We do need more end-users,” he said. “That is my biggest concern above all else, including the issues of the trainers that cheat, Lasix, or any other stuff people want to talk about. We need more people that want to buy a racehorse and run it. I feel too many of the people want to go on and do something with a horse at another sale. They want to resell it somehow, you know. We have more sellers than buyers.”

If we can solve that, we’ll have plenty to cheer about in 2021.

Hey, Weanling Man - By Evan Hammonds

2020-11-24T14:30:00Z

The Keeneland November sale came in for a soft landing Nov. 18, bringing the Central Kentucky breeding stock marketplace to a close for the season. Based on the precipitous drop in yearling prices earlier in this pandemic year, several feared the worst. However, for the most part, the industry let out a collective sigh after more than $157 million changed hands.

Weanlings are a sizable portion of the fall mixed sales. Starting in 2017, 884 weanlings were sold at Keeneland for an average of $69,392, followed by 974 sold in 2018 for an average of $67,462. Last year's average of $61,449 was based on 963 weanlings sold, and this year 745 were traded for an average of $54,902. The average dropped 10.7% year over year and 20.9% from 2017. The number sold was off 22.6% from last year and 15.7% from 2017.

Several factors were at play, with the most logical stemming from perceived market forces during a COVID-19 selling season having sellers hold on to their stock and holding out hope for a better marketplace in 2021.

Missing from this year's November sale was bon vivant bloodstock agent Stanley D. Petter Jr. The 86-year-old hardboot earned his nickname "the weanling man" more than a half-century ago-long before selling young horses was a staple of the market.

"I went back and forth and thought, ‘Well, I'd been to every other November sale; maybe they won't miss me if I ducked out this one time,' " he said. "I didn't go racing (at Keeneland's October meet), and I didn't attempt to. I don't regret it; I think I'm doing the right thing.

"I just spoke to a friend in Newmarket, and he said, ‘Where were you?' I said, ‘I'm in the older bracket.' He said, ‘You don't have underlying maladies.' I'm not one to brag on underlying remedies...I've had a few," he said with a laugh.

"Social distancing? I don't like that, but I like being around," Petter said. "I want to be here for several more years. I have some interesting grandchildren; a sheep dog and all that.

"I'm still here. Sometimes I get bored, but when I do, I look around the house and I find something to do. I do manage a small stable for Lorian Peralta-Ramos," he said.

Ramos' stable centers around the multiple grade 3-winning mare Humoristic (by Sefapiano), bred and raced by her late stepmother, Mrs. Arturo Peralta Ramos. The 19-year-old mare has produced three stakes-placed runners and has a "lovely" yearling by Dialed In, a weanling by Mendelssohn who is "full of beans," and is in foal to Goldencents.

Not being at the November sale didn't mean Petter wasn't paying attention. His observations from outside the sale grounds are similar to those onsite.

"There's always a market for a good horse," he echoed. "Middle-level horses were Christmas presents in some cases. I'm glad I'm not a breeder trying to make a living off of that class of horse."

Petter made his name in the game the old-fashioned way: the need to keep his business afloat. Not everyone will survive this year's twists, and, in turn, they'll be presented with their own opportunities.

"I did not invent the sale of weanlings," Petter said. "When I got started, the only weanlings that were sold were either crooked and undesirable horses, or to settle an estate. I was forced into it."

Petter tells the tale of his yearling consignment getting KO'd at the summer sales one year due to a storm knocking out the power. With advice from Keeneland's director of sales Bill Evans and mounting bills, he took three weanlings to the November sale and offered them with the pitch "none will be retained."

"It was such a success it blew my socks off," Petter remembered. "At the end of the day, four members of The Jockey Club said you will have horses from me next year. And they did. And it was so much fun, but Keeneland has taken the ball and run with it."

As for "the weanling man" title, some still run with it.

"You know who keeps that alive? Indian Charlie (Ed Musselman)," Petter said. "He hollers, ‘Hey, weanling man.' Of course the young guys look up to see what is wrong with the guy and then three or four of them grin."

Fall Breaks - By Evan Hammonds

2020-11-18T14:30:00Z

There sure have been a lot of hurdles to 2020. Some have been man-made—presidential politics—and most have been natural—a global, once-in-a-century pandemic tops the list. It’s human nature to attempt to keep things normal, but this year the more we try, the stranger it just all seems. Holding the Masters golf tournament in Augusta, Ga.—a “tradition unlike any other”—in standard time in mid-November instead of late daylight savings time in April fits about as well as the Kentucky Derby Presented by Woodford Reserve (G1) on Labor Day weekend.

Over the past weekend, as the number of COVID-19 cases surges throughout the country, more than half of the SEC football slate was delayed or canceled. Schools are re-closing. There’s a reason Thoroughbred breeders know that Mother
Nature is always even money or less.

As Thanksgiving approaches, let’s be thankful the Breeders’ Cup World Championships went off on its regularly scheduled weekend, Nov. 6-7, albeit without a full complement of patrons. We’re also thankful Thoroughbred commerce continues at Central Kentucky auction houses. Economic issues weigh heavier on the market this fall, but there’s always a market for a good horse.

Bloodstock agent Davant Latham was lucky enough to attend the first day of the Breeders’ Cup and have the clientele to keep him busy buying and selling horses the following week.

“We enjoyed the day, but it was odd not to have people screaming,” Latham recalled on a blustery Book 4 day at Keeneland. “One of the great things about horse racing…I would compare it to a rock show when those horses come down the stretch and everybody is jumping and screaming. I remember the first time I saw the Rolling Stones. When they came out on the stage, it was like you were getting lifted off your feet. To me, that is what a great horse race does, coming down the stretch. And that didn’t happen.”

There is the thrill of the hunt in the auction ring; however, it’s less of a collective experience than racing. Latham’s clients offer him the ability to seek, as well as sell. His take on business has a common theme.

“I remember when I was here in the 1980s as a groom and whatnot, you had people come in from Omaha who were carpenters and plumbers, and they’d buy five yearlings to race together at Ak-Sar-Ben. That’s gone,” he said. “It’s gone because the cost of keeping a horse in training has doubled. I don’t know how we replace that. Racing clubs and partnerships can sure help. We need to get more people exposed to our sport. I always try to bring people, not just to the races in the afternoon, but I love bringing them in the morning to watch horses train. I think if people watch a thousand horses gallop around the track in three hours in the morning, it just blows their mind. It’s a big hook.”

Latham isn’t alone in his assessment of this year’s selection of top-end weanlings.

“There were a fair number of breeders who held their good weanlings back because they didn’t want to sell in this COVID market,” he said. “It holds out hope for the yearling market next year. We had a fair number of end users in on the weanlings this year. That was difficult for those of us who pinhook; we can’t compete with those guys buying weanlings because the number they have in their mind is the figure they would pay for them as yearlings, so they see that as a discount.

“Buying weanlings was extremely difficult because there wasn’t the supply of quality weanlings. I’ve heard mixed things—that people were holding their better weanlings to sell as yearlings when the COVID market is over; I’ve heard that some people didn’t enter because Aug. 1 was the deadline; they got hammered in September and now have reentered for January.”

Playing at all levels, Latham follows a familiar path that is sunny side up on the early books and like most others, beats a hasty retreat on the lower end of the marketplace.

“The mare market was strong until you got back here (Nov. 15). Right now people can’t sell mares for the stud fee. I read this morning that the RNA rate was down to 16% yesterday…that means people just don’t want to pay the bills anymore. The number of $1,000 and $2,000 mares yesterday…there is your evidence.”

At present, Latham is advising his clients to be in the upper end of the business.

“Cull,” he said bluntly. “If you can’t get money for a mare at the sale; it’s not worth breeding her because you’ll just lose money on that effort. Reduce numbers and increase quality, and that would be my short version that could be advised to every client: Increase your quality.”

Four Score - By Frank Angst

2020-11-11T14:30:00Z

With Breeders’ Cup-winning 2-year-olds Essential Quality and Aunt Pearl, trainer Brad Cox figures to be spending a lot of time thinking about the future in the days ahead, but his record-tying four-win performance at this year’s Breeders’ Cup most assuredly also celebrates his recent past.

When Monomoy Girl launched a sweeping move to win the Longines Breeders’ Cup Distaff (G1) Nov. 7—contested at Keeneland, no less—Cox was able to see his recent past and current standing all in one glorious stretch run. The champion filly who paved the way for so much of his success was back—after taking the 2019 racing year off—with a decisive, second victory in the Distaff.

Throw in Knicks Go, enjoying the easiest of wins in the Big Ass Fans Dirt Mile (G1), and Cox had joined Richard Mandella as the only trainer to win four Breeders’ Cup races in the same weekend. Granted, we’ll continue to reserve the “King Richard” title for Mr. Mandella as his four victories came in 2003 when there were only eight Breeders’ Cup races, as opposed to the current 14.

But talk about wrapping things up with a bow. Monomoy Girl is the first grade 1 winner for Cox through her victory in the 2018 Central Bank Ashland Stakes (G1) at Keeneland. The Distaff capped the four-win Breeders’ Cup for Cox and is the trainer’s most recent score at the top level. As Byron King notes in his Distaff recap story, in between those wins there have been 17 other grade 1 triumphs.

How much of a difference can a single horse make?

Consider the owners, and the owners’ goals, of the other three Breeders’ Cup winners trained by Cox. They’ve invested a lot in the 40-year-old Louisville, Ky., native.

Knicks Go is campaigned by the Korea Racing Authority. While the son of Paynter enjoyed success with trainer Ben Colebrook—winning the Claiborne Breeders’ Futurity (G1) at age 2—the owner moved their standout to Cox’s care ahead of 2020. That trust in Cox paid off with a Breeders’ Cup win that will promote Korean racing and breeding and provide the country with a stallion.

The ownership group behind Monomoy Girl: Michael Dubb, Sol Kumin, The Elkstone Group, and Bethlehem Stables are also behind Aunt Pearl—along with Peter Deutsch and Mike Kisber. In part because of their confidence in Cox, they sent Liz Crow and Brad Weisbord overseas where they found the Irish-bred standout.

And then there is Godolphin Racing with its homebred Essential Quality. It doesn’t get bigger than Godolphin and Sheikh Mohammed’s well-publicized pursuit of the Kentucky Derby (G1). Jimmy Bell, president of Godolphin in America, said Essential Quality is the latest tribute to Sheikh Mohammed’s global breeding program.

Godolphin also has entrusted Cox with its latest star, along with hopes for next spring.

“There’s nothing more exciting than a 2-year-old that looks like he might go a little farther, going to two turns,” Bell said. “And really, a tip of the hat to Brad and his team and Brad in particular.”

And all of this started with a filly—the champion 3-year-old filly of 2018. Stuart Grant (The Elkstone Group), a co-owner of Monomoy Girl, noted both the heights to which she’s taken her team and the opportunities she’s created for all of the connections.

And as people saw what Cox could do with a talented runner such as Monomoy Girl, he’s added other top owners. Current owners are trying new approaches in the search for star horses. The trainer rewarded all in spectacular fashion this year.

As for the filly who helped get all of this started? For all of the memorable victories, perhaps the weekend’s best news for Cox came Sunday evening when Spendthrift Farm purchased Monomoy Girl for $9.5 million at The November Sale at Fasig-
Tipton Kentucky and promptly announced she would stay in training with Cox.

While Monomoy Girl has put Cox in position to move forward, they’re not parting ways just yet.

We’re Virtually There - By Evan Hammonds

2020-11-04T14:30:00Z

All sports have had to adapt on the fly since mid-March as COVID-19 caused closures, shutdowns, and lockdowns around the globe. Professional sports rely on attendance—and food and beverage service—as a revenue stream, and with that component missing or greatly reduced, along with lower ratings on television/streaming services, not every venture will come out on the other side of the virus after all of the bubbles, pods, and positives.

So far Thoroughbred racing, however, has been on the right side of the curve. Able to continue “the greatest game played outdoors,” while providing much-needed content to sports networks, and with fairly advanced technology—online wagering platforms—racing has actually raised its profile in this mad, mad, mad 2020.

The racing calendar hits the sixteenth pole this weekend with the Breeders’ Cup World Championships at Keeneland. Breeders’ Cup, headed by Drew Fleming, who was named president just a year ago, broke sharply from the gate several months ago with a target marketing plan.

“Back in June we partnered with The Jockey Club, the National Thoroughbred Racing Association, TVG, and TOBA, among a number of industry groups, with a
campaign called ‘Still Running Strong,’ ” Fleming said. “It showcased that horseracing was in a unique situation to be running when other sports were shuttered. It was an opportunity to showcase our industry’s product to a new group, and we are continuing to leverage on that.

“We’ve started another campaign that we had approved pre-COVID, and we felt it was more important to strengthen that and further support it. We really want to leverage the momentum we have to go out to general racing fans in a highly focused, digital television campaign to showcase how great the World Championships are and how the best horses in the world will be coming to Keeneland.”

It was the week after Labor Day when Breeders’ Cup announced that fans wouldn’t be allowed on site at Keeneland. However, it won’t be an empty house, as owners and industry participants will be in the stands to watch the 14 races in the two-day package. Breeders’ Cup has worked diligently to make the event special for those precious few on site and even more so for the many watching at home.

“We have been working with local health authorities, our own health officials, local and state officials, and we have stringent protocols in place,” Fleming said. “We are testing all of the Breeders’ Cup and Keene-land employees and temporary staff and vendors. We have created an essential bubble on Rice Road for the contenders back there. We’ll have temperature checks and medical screenings, and we are mandating face masks. We have been working hard for a long time with Keeneland—they’ve been great partners—to make sure that we have advanced COVID protocols in effect.”

Safe and secure on site, perhaps what is even more exciting is what is waiting for viewers at home.

“We’ve been spending a lot of time and energy and investment in making sure that the fans who can’t be here in person can still have the best Breeders’ Cup experience at home,” Fleming said. “There are a couple of things we’ve never done before, and we don’t think any racing organization in the world has done before. Breeders’ Cup will have the most robust production ever for a horse racing event, and NBC will have access to more than 80 cameras for the coverage.

“In addition to those cameras, we are going to have a suspended camera on the backstretch as well as two jockey cams that will be worn by select jockeys on the day.

“As we evolve as a business with more technology, we are also going to be using a second screen that will be available on your iPad (or tablet). This would be on breederscup.com/live where we will have a new addition called ‘contender cam.’ This is up to 14 different live streams of different horses. This is geared more toward the bettors who unfortunately won’t be on track. We wanted to make sure that if they wanted to follow a specific horse from the paddock to the starting gate, they’ll be able to. There will be 14 of those individual cameras following 14 individual horses so you watch one horse the entire time.

“We are also trying to get the ‘true immersion’ experience as well with the Breeders’ Cup virtual reality experience. So, it will be as if you are standing in the walking ring in the paddock area…and you can use your iPhone to go around and see the different views.

“Our team has put in an incredible amount of work and has shown a lot of innovation, and we are excited to roll out the red carpet for those who will be watching from home,” Fleming added. “We are all in this together, and we need to grow.”

Now and Then - By Evan Hammonds

2020-10-28T13:30:00Z

The news cycle in the Thoroughbred business moves like an opening quarter-mile in :21 and change this time of year. In the past two weeks we’ve been inundated with announcements from nearly all of the stallion operations with new deals for the incoming class of 2021 as well as the fees for the coming season—most of them having been reduced due to results of this year’s yearling sales.

There’s other news as well as this week’s cover and the following features suggest. The Breeders’ Cup, with its 14 World Championships races returns to Keeneland Nov. 6-7. As always, late October is a very exhilarating time of year.

Of note for breeders and Breeders’ Cup fans alike this week were two items in stud fee announcements from market leaders WinStar Farm and Coolmore’s Ashford Stud…but they required a bit of digging. In WinStar’s release, near the bottom, was the news of the retirement of Tiznow from active stud duty, and Ashford Stud’s fee announcement disclosed that Fusaichi Pegasus was not going to be in service next season. The horses—both foals of 1997—were seemingly from opposite sides of the tracks but turned out to be towering figures on the racetrack as well as strong influences on the American Stud Book. They both took part in the memorable Breeders’ Cup Classic (G1) of 2000, now an unfathomable two decades in the rearview mirror.

Fusaichi Pegasus, bred by Arthur Hancock III’s Stone Farm and Bob and Janice McNair’s Stonerside, was born to be a star. By breed-shaping Mr. Prospector out of Angel Fever, he was one of those horses that come along once in a generation—a Keeneland yearling sales-topper who lives up to the hefty price tag. The colt caused quite a stir at the 1998 Keeneland July sale, bringing a final bid of $4 million from the flamboyant Japanese businessman Fusao Sekiguchi.

Tiznow had solid bloodlines as well, but Cecilia Straub Rubens’ homebred colt from California by Cee’s Tizzy out of Cee’s Song, by Seattle Song, wouldn’t have been considered a seven-figure sale yearling.

They took much different paths to the 17th running of the Classic. Fusaichi Pegasus won the Kentucky Derby (G1) as the 2-1 favorite, back in a time where the favorite rarely won, but lost the Preakness Stakes (G1) to Red Bullet over a good surface at Pimlico. Trainer Neil Drysdale gave Fusaichi Pegasus the summer off, then returned him in the one-turn mile Jerome Handicap (G2) in late September as his Breeders’ Cup prep.

Meanwhile Tiznow didn’t break his maiden until May 31 but impressed as the summer wore on, winning the Sept. 30 Super Derby (G1) and the Goodwood Breeders’ Cup Handicap (G2) for trainer Jay Robbins.

The Classic field was dominated by 3-year-old talent that also included Captain Steve and Albert the Great, along with Europe’s “Iron Horse” Giant’s Causeway, the winner of five successive group 1 races, whose unknown dirt form left him as the 7-1 third choice behind Fusaichi Pegasus and the 6-1 4-year-old Lemon Drop Kid.

As many thrilling stretch runs as there have been in the Classic, the 2000 holds up remarkably well. Tiznow edged a determined Giant’s Causeway by a neck. Fusaichi Pegasus failed to fire and finished sixth. Tiznow would, of course, do one better the following year at Belmont—within sight of a smoldering downtown Manhattan—winning the Classic for a second time in dramatic fashion, helping a nation to begin to heal from 9/11 in the process.

Fusaichi Pegasus, syndicated for a reported $60 million, stood at Ashford Stud for $150,000 in 2001 and later shuttled to Coolmore Australia and Haras Don Alberto in Chile. Tiznow entered stud for the 2002 season at WinStar at $30,000, in partnership with the Taylor family’s Taylor Made Farm.

Fusaichi Pegasus had major winner Roman Ruler in his initial crop and has gone on to sire 86 stakes winners.

Despite not racing at 2, Tiznow was an instant hit, getting Folklore, winner of the Alberto VO5 Breeders’ Cup Juvenile Fillies (G1) and an Eclipse Award in his first crop. As of Oct. 26 he is the sire of 90 stakes winners.

As a broodmare sire, Tiznow is represented by Tiz the Law, who is looking to make his own mark on the 2020 Classic at 3.

Pandemic Pricing - By Evan Hammonds

2020-10-21T13:30:00Z

Not everyone likes to be first out of the box. Being first sometimes has its advantages while introducing a new product line or setting pricing, but being in front can also leave a business out in the cold.

Back in the formative days of the commercial bloodstock world, “Cousin” Leslie Combs II, master of Spendthrift Farm, wanted to be out front. James E. “Ted” Bassett told the tale several years ago of Combs’ not liking his spot in one year’s yearling catalog of the old Breeders’ Sales Co.

“All the consignors would draw straws to see who was going to sell on Monday, Tuesday, Wednesday, Thursday, or Friday,” Bassett regaled. “I think one year Les drew Friday, and he didn’t like it. Well, nobody liked it that drew on Friday. But he got up and said, ‘Just give me Monday. I want to sell the first day because I want to set the tone of this sale.’ And he did.”

More than a half-century later Spendthrift Farm has continued to push the industry forward while under the stewardship of B. Wayne Hughes. Hughes’ success in developing Public Storage gave him the wherewithal to purchase Spendthrift in 2004. Applying his aggressive business tactics to the Thoroughbred market through “Breed Secure” and “Share The Upside” programs he pushed the industry forward as it was coming out of the Great Recession.

The farm, having returned to a spot as a sizable stallion operation, has been out front in setting stud fees for the coming season. While usually setting prices in August in front of the Fasig-Tipton sales in upstate New York, this year it waited until last week, but was still the first in announcing its pricing.

“With the way things were going this year, with no Saratoga sale and not being sure how the September sale was going to go, it was a very odd year for us,” said Mark Toothaker, Spendthrift Farm’s stallion sales manager. “We would have already been hot and heavy into selling seasons, but we waited. We wanted to see what was going on—September is the barometer for the whole season.

“It was very unusual for us to wait that long. By waiting we didn’t know if we would be the first, but maybe some other farms were waiting to see what we were doing as well.”

Spendthrift’s roster sees lower fees for 15 of 21 stallions. Reduced revenues for 2021 places pressure on the farm and other stallion stations; however, it also offers a balm for breeders who have seen reduced revenues from the sale of their yearlings earlier this year.

The reductions, which have been echoed by many other farms as well, came from the Spendthrift team but were led by Hughes.

“We actually had three different prices as we went along,” Toothaker said. “We sat down and thought we had some good pricing. We talked to some of our breeders and got some feedback that we needed to be more aggressive than we were, so we sat down again and were trying to come up with a game plan to take to Wayne. He wants to go over every stallion, one by one, to make sure that we are getting where we need to be mare-wise. We told him we were going over it one more time before we got with him. He made our job easier, saying, ‘Listen, if you can go in there and set prices how you think I would want to set them, being as aggressive as possible, that is what I want you to do.’

“He took all of that pressure off of us,” he continued. “He said, ‘We have to keep our breeders in the game. If you think you are being aggressive, you are not being aggressive enough.’ When we did that and went through them one by one, he was happy, and we felt like our breeders would be happy with what we were doing.”

While every business is competitive, one of the many marvelous things about the Thoroughbred industry is that there is a collective spirit. After all, we’re all in the same game and have the same love of the horse. Our hopes and dreams offer a beacon in the dark—be it recession, depression, or even a pandemic.

“We have to be optimistic in this business or we wouldn’t be in it. This whole thing is about trying to keep our breeders in the game,” Toothaker said. “Our hope is we can get through the COVID situation, get through the election; let things settle into next year.

“By the time September rolls around next year, we’re hoping things have ‘normaled’ back out.”

That’s a tall order for sure…regardless of who goes first.

Oh Happy Day - By Evan Hammonds

2020-10-14T13:30:00Z

There are few mountains left for trainer Todd Pletcher to scale. While the veteran horseman is not yet in the Hall of Fame—he’s sure to be a first-ballot entrant when he becomes eligible in 2021—he ranks first among trainers all-time with more than $395 million in earnings. He’s won two Kentucky Derbys (G1): Super Saver (2010) and Always Dreaming (2017) and 11 Breeders’ Cup races.

So it was of interest following Wertheimer and Frere’s Happy Saver’s rail-skimming victory in the Oct. 10 Jockey Club Gold Cup (G1) that the New York-based Pletcher was part of the post-race festivities for the first time. After all, the Gold Cup victory was Pletcher’s career win number 4,989.

“It’s been a difficult race for us to conquer. We thought we had done it last year with Vino Rosso and got disqualified, so that one was a difficult one to take,” Pletcher said the following morning. “We also had some other ones that were pretty tight finishes.”

A pair of his seven runner-up finishes in the Gold Cup also stung in the mind of the 53-year-old conditioner. In 2007, eventual champion older male Lawyer Ron had the lead in the lane but fell a neck shy of the 3-year-old Curlin at the wire at Belmont. Four years later the Pletcher-trained Stay Thirsty had a one-length lead at the eighth pole but relinquished the lead late to Flat Out at the end of 1 1/4 miles.

However, Pletcher was able to bask in the glow of this year’s win with a 3-year-old making just his fourth career start.

“I thought it was a big performance from Happy Saver. It was his first time against older horses; his first time in a grade 1; first time at a mile and a quarter, and he delivered a very professional performance,” the trainer said. “He’s come a long way in a short period of time from breaking his maiden on June 20 to winning the Jockey Club Gold Cup on Oct. 10. He’s just a quality horse.”

We’ll say.

“The Wertheimers have been great supporters for many years, and I am so happy to win a grade 1 for them,” he said. “Also, he’s a son of Super Saver, our first Derby winner, and we also trained the mare, so it was a fun win all the way around.”

The Gold Cup is the Gold Cup, but it has lost a bit of sheen in the last few decades. Once a championship-defining race at season’s end, it’s generally been reduced to a prep for the Longines Breeders’ Cup Classic (G1) since the World Championships inception in 1984. Also, with COVID-19-reduced purses at the New York Racing Association this year, the Gold Cup’s purse, $250,000, was the lowest since 1976.

“That’s a race that was $750,000 last year. That’s what I said yesterday…now that it’s $250,000, now I get to win it,” Pletcher joked.

However COVID-19 has not been a joke for breeders, owners, or trainers.

“The COVID situation has affected everyone, and owners are certainly no exception,” Pletcher said. “One thing we feel good about is we’ve been able to continue racing. There was a hiatus in New York for a little while, but the bulk of our horses were in Florida at the time, and we were able to race there and shift to Oaklawn and Churchill Downs, but it’s been difficult. The purse structure has had to have some adjustments. The significant reductions in purses have affected everyone’s bottom line.

“The thing about it from a trainer’s perspective is that nothing has changed with our overhead,” he continued. “Our wages are still the same and, in fact, because we weren’t able to get quite a few of our visa workers, it created a situation where we were lighter on staff and had to have the employees we do have working extra hours and overtime. From an expense standpoint, it’s quite costly, especially in New York, but you do the best you can.”

Pletcher noted his payroll includes some 125 employees in multiple locations.

“We are fortunate enough to keep training and keep racing and, hopefully, there will be light at the end of the tunnel. We hope that once we approach the fall and the winter and the flu season we don’t see a re-spike in the situation. Ultimately we are dealing with this for the first time and learning as we go.”

And dealing with winning the Gold Cup for the first time.

Not So Fast - By Evan Hammonds

2020-10-07T13:30:00Z

Racing has continued amid a pandemic, and for that we have a great many thanks. In Maryland, hopeful horsemen declared last week: “Hey, they’re running the Preakness Saturday…it’s like we’re alive in the double.”

The Maryland Jockey Club did present the Preakness Stakes (G1) in front of a very select, very socially distanced live audience at Pimlico Race Course, which held up remarkably well without 100,000-plus trying to use its facilities.

While the industry can make it through a summer/fall Triple Crown series once—hopefully once is enough for most things that have happened so far in 2020—the sport needs to see the series return to tradition.

“I can’t wait until we get back to the original schedule,” trainer Bob Baffert opined Preakness week. “It needs to be in May. We need to keep the same schedule. We’ve always thought, ‘If we spread it out, what would it be like?’ Well, people lose interest. People don’t even know the race is going on this week. But we’re fortunate to run it.”

The Thoroughbred industry hasn’t lost interest in Maryland racing, or more specifically in Pimlico. The rusty, musty facility—given up for dead more than once—has a new lease on life after the state legislature passed the Racing and Community Development Act of 2020 on March 18. The bill is for refurbishing Laurel Park and constructing a new facility for racing on Old Hilltop, with other projects to help raise the profile of the surrounding Park Heights
neighborhood.

Many said it couldn’t be done, but at the right moment the stars aligned with the city of Baltimore, Anne Arundel County, the state of Maryland, The Stronach Group (which owns Pimlico and Laurel), and local horsemen.

The project is continuing to move forward despite COVID-19.

“It’s a rather substantial series of developments, and they are progressing, and the plans are in the very good hands, and very competent hands, of the Maryland Stadium Authority, which, is fair to say is the best business in developing sports venues, not only in Maryland but I’d suggest the country,” said Maryland Jockey Club attorney Alan Rifkin.

“It really took Belinda Stronach’s leadership to make transformational plans come to be,” he continued. “Part of what made it work was the Maryland Jockey Club agreed to essentially give the property in and around Pimlico to the city for the development of the out parcels that will really transform the Park Heights community. That took a lot of vision.

“It was a struggle. Nobody can tell you we had a crystal ball and thought we could achieve what we’ve been able to achieve. Many, many people made that happen. In so many respects this is a transformational moment in time for the Maryland industry and maybe in the industry around the country.”

Gary McGuigan, a senior vice president with the Maryland Stadium Authority, agreed.

“It’s a major endeavor on a very complex subject with a lot of stakeholders. We are having some very productive meetings. I would say it’s off to a great start,” McGuigan said. “The way the relationships were earlier, it’s incredible how far they have come.”

The bill authorizes the ability to offer $375 million in bonds; however, it requires numerous agreements to be signed off on.

“There are 10-15 agreements, and I’m still trying to figure out if there are more…it speaks to the complexity of this whole thing,” McGuigan said. “Those bonds cannot be issued until all of those agreements are in place.

“The transition and all of the agreements are a lot to think about. You only get one shot at this. This is a lot of state money being invested, and it’s going to last for 30-50 years, so let’s get it right.”

Cutting to the chase for most everybody is when the reclamation of beloved Pimlico will occur. As with all good things, they take time.

According to McGuigan, proposals from architects and engineering teams were received Preakness week and are expected to be “on board” by the end of the year.

“We have a selection committee that includes all of the partners: the city, Anne Arundel County, The Stronach Group, and the horsemen,” he said.

Our issue of interest is which project goes first: Laurel or Pimlico. There are arguments for both. Regardless, McGuigan notes the timetable is approximately two years from this December for the planning and design. Construction will start soon after that, likely in the first quarter of 2023.

For some, the wrecking ball can’t come soon enough for the aging plant. However, for those of us who still adore the present Pimlico, there are a few afternoons left to savor. Let’s hope the rest of them are in May.

The Cat in the Picture - By Evan Hammonds

2020-09-30T13:30:00Z

Commerce is key to any industry, and thankfully the folks at Fasig-Tipton and the Keeneland Association did a yeoman’s job in just being able to conduct yearling sales amid the COVID-19 pandemic.

Thoroughbred breeders and consignors have to be most grateful for all of the hard work behind bringing in more than $300 million through the auction houses in Central Kentucky (Fasig-Tipton recorded more than $61 million in receipts and Keeneland nearly $249 million).

The Keeneland sale, with nearly 2,500 yearlings sold, is the bellwether sale of the industry. There from day one, Book 1, Sept. 13, and offering two hips on the last day, Sept. 25, was E. Beau Lane. The Virginian-turned-Kentucky hardboot has been at this business for around 30 years, so his perception on this year’s market is worth a listen.

“We’re surviving, and people are going through the yearlings and picking out the ones they think they’ll do the best with,” he said as he prepped his last pair. “They are leaving a lot of them…the ones that have anything on their repository sheet. They’ve got to be almost clean…that knocks a lot of them out. I’ve only got seven or eight (yearlings) out of 28 that were ‘clean.’ It’s hard to raise these things in a big field with 12-14 others and not come up with a little ding…but that’s just the way to get a racehorse.”

For the record Beau Lane Bloodstock sold 16 of 20 hips for $1,595,000 at Keeneland. On day 1 he was bold when he RNA’d a yearling for $430,000 and on the last day he moved one of two for $31,000.

“It’s not as bad as 2009 (Great Recession) when the bottom fell out,” he said. “And when the planes flew into the towers (2001), people just left town, and there was nobody here to buy horses. I was here with Deheres with a $15,000 stud fee selling for $3,000. I don’t think this is near as bad as those two years. I don’t think this could have been any better than it’s been.

“I’m really happy to have had this good of a sale…people are still up here looking…like D. Wayne Lukas used to say, ‘There are people still trying to find the cat in the picture.’ ”

The cat in the picture might be a lot harder to find in the future. Yearling buyers need to have confidence in racing’s purse structure before being asked to pony up on investments that need a year or two to mature.

Purses at the New York Racing Association, which have soared in recent years, have been crimped by the closure of casinos in the state due to the pandemic. The picture on a full return to that type of revenue is murky at best. Soaring purses in Kentucky might be in jeopardy with the ruling by the Kentucky Supreme Court Sept. 24 that one brand of historical racing in the state is not pari-mutuel (see page 12). Thankfully that decision came down on the next-to-last day of the sale.

The yearling sale results, essentially $100 million less than a year ago, are sure to have an effect on the November sales in the breeding stock market. In examining sale results from 2000-02 and 2007-09, the late fall markets basically mirror the yearling sale results…and not to be a downer, but in both instances the market took an even more precipitous drop during the second year of the downturn. One thing to keep in mind is from 2000-02 there was also a double-down effect with the events of Sept. 11 and Central Kentucky’s Mare Reproductive Loss Syndrome. But who is to guess what will be the continuing effects from COVID-19?

We’re pleased that some people were happy with the monetary results from September, but as Lane said, “This whole thing…it is a piece of what it was. This is not the normal Keeneland sale.”

We’ve been wrong many times—and hope we are here—but we expect that there will be more sellers than buyers come November.

If it adds any solace, Lane left the sale with one more pearl of wisdom in preparation of the breeding stock market: “When the tide goes out, you can see who’s wearing the swim trunks.”