Posts Tagged ‘gainesway’
Tuesday, February 9th, 2010
Four American-based stallions-Cuvee, Yonaguska, Lion Heart and Dehere–and Irish-based Powerscourt are scheduled to arrive in Turkey this week to stand at stud as the property of the Turkish Jockey Club.
According to Kentucky-based bloodstock agent Ric Waldman, who advised and assisted the Turkish Jockey Club in the acquisitions, Dehere is being leased while the other four stallions have been purchased by the Turkish Jockey Club. Dehere and Lion Heart previously stood at Coolmore/Ashford Stud in Kentucky, while Powerscourt was scheduled to stand at Coolmore in Ireland after beginning his career at Ashford. Cuvee was at Gainesway, while Yonaguska stood at Elite Thoroughbreds in Louisiana after previously standing at Vinery in Kentucky. The American-based horses are expected to arrive Wednesday with Powerscourt due later in the week.
"All stallions are already extremely popular with Turkish bfreeders and are expected to stand to full books of mares," Waldman said.
Tags: ashford stud, Breeding, coolmore, Cuvee, Dehere, Elite Thoroughbreds, gainesway, Lion Heart, Powerscourt, Ric Waldman, thoroughbred stallions, Turkish Jockey Club, Yonaguska
Posted in Breeding, Stallions | 3 Comments »
Wednesday, February 3rd, 2010
We are pleased to introduce a new weekly feature today, the Paulick Report Forum brought to you by Breeders’ Cup. Every Wednesday, we’ll talk with a Thoroughbred industry player about the game we all love, trying to get a better understanding of where we’ve been and where we may be headed. One thing I’ve learned throughout my years in this industry is that nothing comes easy. We are a sport and a business fraught with divisiveness, incoherence and confusion. But at the same time we are blessed to have many participants with great intelligence, insights and dedication. In short, we never know where the next good idea may come from.
We hope you will read each week’s Forum, offer your thoughts on the subject being discussed, and suggest to us other areas where we can advance the discussions that need to take place to get our industry moving in the right direction once again. Thanks to the Breeders’ Cup for their sponsorship of this process.
It surprised me when Christophe Clement said that he has spent half of his 44 years in the United States. Maybe it’s the heavy French accent he still retains, or simply the blur of the years going by so quickly. But the third-generation horseman has made America his permanent home since 1991. He’d spent a couple of years here in the 1980s, working for Taylor Made Farm and trainer Shug McGaughey, before returning to Europe, where he served for four years as assistant to Luca Cumani in Newmarket, England. Earlier in his life, he had apprenticed for the master horseman Alec Head in Chantilly.
Clement, coming off an outstanding year when Gio Ponti won two Eclipse Awards for the Ryan family’s Castleton Lyons as turf male and older male champion, is preparing the 5-year-old son of Tale of the Cat for a possible run at the $10-million Dubai World Cup. He’s looking at a prep race at Tampa Bay Downs on turf in February prior to taking on the world’s best over the Tapeta Footings surface at the new Meydan racetrack in Dubai. Gio Ponti is coming off a second-place finish to Zenyatta in the Breeders’ Cup Classic over the Pro-Ride synthetic track at Santa Anita.
In this, our first Paulick Report Forum brought to you by Breeders’ Cup, Clement provided some insights about the sport of Thoroughbred racing and how it’s changed during his lifetime.
What is it about international racing that is important to you?
First of all, with the Dubai race I can give you 10 million reasons. If it was a million-dollar race, I wouldn’t be going. I would be going instead to the Santa Anita Handicap. In the case of the Dubai World Cup, the purse has a lot to do with it.
But international racing is important. I’m just a trainer, but if I was a breeder or an owner, I would say it is very important for the breed to know which horse is the best and which sires are better. I saw an article in the TDN that said, as recently as 20 years ago, 80% of the world’s leading stallions stood in the United States. Today that number is 50%. The United States does not permeate world breeding the way it was 20 years ago.
From a personal standpoint, I don’t get as many fillies or mares sent from Europe to race here and then be bred to American stallions. Their owners are keeping them in Europe.
Why the shift?
A couple of things. First there is medication. People refuse to talk about it, but a lot of people in Europe still don’t want to breed to U.S. sires because those horses raced on medication. A lot of Europeans do not understand why we continue to allow medication while the rest of the world is doing OK without it.
That’s one of the factors. It is an issue for some people. There are two things I would like to see changed. I am convinced Grade 1 races should not be handicaps. It’s not healthy to use weight to try and beat the best horses. Allowance conditions are fine. This is something Bobby Frankel and I talked about, and Bobby was against handicaps in Grade 1s. I also believe there should be no medication in Grade 1s because we use these races to improve the breed.
So why do we continue to permit it?
I don’t know. Every track is different. There is no federal authority. No racing commissioner. The Graded Stakes Committee took grades away from Pennsylvania because they failed to do the proper testing, but there is limited means to enforce national rules. I’m just a trainer. These are some of my thoughts. I’m trying to win a race tomorrow.
You said there were two major reasons for the shift in stallion power away from the U.S.
Right. Secondly, the two groups, the Maktoums and Coolmore, have given European breeders access to some very good stallions because they are retaining some of the best racehorses. Twenty or 30 years ago the world’s best horses came to Gainesway—horses like Lyphard, Riverman, and Blushing Groom. This year, apparently no American farms bid for Sea the Stars. 20 years ago an American farm would have. Aside from Giant’s Causeway and Kingmambo, it’s been quite a while since an exciting European horse came to the United States as a sire. The top milers in Europe are no longer coming here, either.
What training methods have you adapted from your European background?
I am more American than European. I’m 44 and have spent more time in this country than anywhere else. But I’ll say this. When Sir Michael Stoute or Andre Fabre wake up in the morning they have a choice of tracks on which to train their horses. Here it’s the main track or the training track. Those guys have a much wider choice for their horses.
We should have access to all surfaces: dirt, turf and Polytrack. If you have a good dirt track, like in New York, a good turf course, and a good Polytrack surface to race or train over on days when it’s very wet, it would be very popular. But the problem is who pays? It would be very expensive. In an ideal world, that’s the way it would be. A dirt track should be safe if maintained the right way. Turf is safe, and off the turf races could be run on a Polytrack.
You recently cut back on the number of horses you have in California. Is it because of the problems with Santa Anita’s surface?
It’s Mother Nature. I’m not against Santa Anita. They did everything they could. Wherever you are, you have to deal with Mother Nature. It’s been very wet out there. One reason Gio Ponti came back East is I found that the flight to Dubai will be easier from Florida than California.
In the United States all trainers think they are track superintendents, but the track superintendents know their job. There is no ideal surface 365 days a year. Bob Baffert was really negative on Polytrack, but he’s such a smart guy and a good trainer he’s really adapted. He’s doing great on that surface.
What can American trainers learn from others around the world?
When you work for the people I’ve worked for, you learn that change is not always negative. People in racing don’t like change. Change is not always a bad thing. We should be more open minded about change. A typical thing is the synthetic tracks: trainers should be more open minded. Of course it will not be perfect from day one, but it is ridiculous to be so against it, just as it is ridiculous to be against dirt racing. It doesn’t have to be one or the other. The Kentucky Derby is on dirt and should remain on dirt, and the Belmont Stakes is on dirt and should remain on dirt. But we shouldn’t exclude Polytrack from our racing because it represents change.
Finally, how do you feel about Rachel Alexandra’s owner Jess Jackson’s recent comments that the field for the 2009 Breeders’ Cup Classic was not nearly as good as the 2008 race when his Curlin was defeated?
I think it’s just another reason that he should have participated in the race.
Copyright © 2010, The Paulick Report
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Tags: Alec Head, andre fabre, Blushing Groom, bobby frankel, Breeders' Cup, breeders' cup classic, castleton lyons, Christophe Clement, coolmore, Curlin, dubai, dubai world cup, European racing, gainesway, giant's causeway, gio ponti, Graded Stakes Committee, jess jackson, kentucky derby, kingmambo, Luca Cumani, Lyphard, Maktoum, Meydan, Newmarket, Paulick Report, Paulick Report Forum, polytrack, pro-ride, Rachel Alexandra, Ray Paulick, Riverman, santa anita, santa anita handicap, shug mcgaughey, Sire Michael Stoute, Tale of the Cat, tampa bay downs, taylor made farm, tdn, zenyatta
Posted in Paulick Report Forum, dubai world cup | 76 Comments »
Tuesday, February 3rd, 2009
By Ray Paulick
President Barack Obama, on his first full day in office, called for higher standards in transparency and accountability for his administration. While there already have been some bumps on that road, our new president’s demands are in line with a broader movement toward greater transparency, accountability and openness, not only in government but in private enterprise as well.
A recent scandal in Lexington, Ky., involving the executive director of Blue Grass Airport and several of his key staff was uncovered only after the local newspaper, the Herald-Leader, filed an open records request and examined travel and expense reports of airport executives. What the paper found was shocking: thousands of dollars of taxpayer’s money spent on a night of partying at a Texas strip club, airport credit card purchases of a shotgun, audio systems, DVDs and other items seemingly unrelated to the operation, including scalped tickets to a Hannah Montana concert at Rupp Arena.
The airport’s oversight board at first dismissed the newspaper’s charges that the executive director’s travel and entertainment expenses were exorbitant, but after conducting an internal audit discovered numerous irregularities and suspended him. Shortly thereafter he resigned.
The episode teaches us several valuable lessons, including the importance of a free press, open records law, and vigilance by members of oversight boards. Without transparency or sunshine laws, it’s likely the airport scandal never would have been uncovered and taxpayers would continue to be abused by officials entrusted to serve them.
While I am by no means suggesting similar transgressions are taking place, a call for greater transparency and accountability is also at the heart of Thoroughbred owner and breeder Peter Blum’s recent criticisms of the Breeders’ Cup – a non-profit company funded in part through stallion and foal nominations by thousands of breeders. Following a guest commentary he wrote for the Jan. 10 edition of the Thoroughbred Times and a follow-up letter to the editor published in both the Jan. 31 Thoroughbred Times and Feb. 2 Paulick Report, Blum has heard from a number of fellow horsemen who are in philosophical agreement.
“As a result of my willingness to speak out, many people have contacted me and have expressed their concerns and serious reservations about Breeders’ Cup management,” Blum told the Paulick Report. “One theme that continually comes up when people share their thoughts with me is, ‘What are they trying to cover up?’ Have there been any bonuses recently paid, particularly in this troubling economy when (President Obama) in the last few days referred to bonuses paid to bankers as shameful, outrageous and the height of irresponsibility? If there have been any bonuses, who got them, when they did get them, and how much did they get? And if they were given, why were they given, especially in light of the Breeders’ Cup announcement to cut off supplemental funding for 121 races throughout the year? (That decision was quickly reversed.) Furthermore, have there been any recent senior management contract extensions. If so, who got them, and when and why were they given?”
Blum sees things only getting worse unless there are changes in how the Breeders’ Cup operates. “There is very little transparency and it is apparent that is the core of all major issues,” he said. “Does the Breeders’ Cup management not understand how angry its members are? Unless transparency soon occurs, the Breeders’ Cup cannot succeed in its present form. And has there been any disclosure to membership of an agenda of board member meetings, votes, and minutes? If not, why not?”
The Breeders’ Cup moved toward a democratically elected board in 2006 after complaints from some breeders that it had been run for too long by a handful of people selected by a self-perpetuating board of directors. But as Blum pointed out in his letter to the editor, there are flaws in the revised bylaws that appear to stack the election process in favor of the status quo.
Thirty-nine individuals are elected to the board of members and trustees by stallion and foal nominators (each year, 13 of the 39 seats are up for election to three-year terms). Those members and trustees are responsible for electing the 13-member operating board of directors. However, in addition to the 39 elected members and trustees who vote for the smaller board, also given votes in the small board election are six “founding fathers” of the Breeders’ Cup: Brownell Combs, formerly of Spendthrift Farm; William S. Farish of Lane’s End; Seth Hancock of Claiborne Farm (whose proxy has been permanently bestowed upon farm executive Jim Friess); Brereton Jones of Airdrie Stud, John T. L. Jones, director emeritus of Walmac Farm; and James Philpott, an attorney who has served as Breeders’ Cup secretary. Two former Breeders’ Cup presidents, James E. (Ted) Bassett III and D.G. Van Clief Jr., also are entitled to vote in the small board election, as are four current officers of the Breeders’ Cup, including CEO Greg Avioli.
It strikes me as unfair to “grandfather” any founding fathers onto the board of members and trustees. When the U.S. Constitution was written, individuals who signed the Declaration of Independence were not given a lifetime seat in Congress. Representatives of farms like Coolmore, Darley and Three Chimneys, among many others that have been major financial contributors to the Breeders’ Cup, are forced to actively run for a board seat while those farms associated with founding members get an automatic seat. Furthermore, at least two of the founding Breeders’ Cup members are no longer actively engaged in the business. Doesn’t seem right.
It also seems downright scandalous to allow paid staff, including CEO Avioli, to vote for who their bosses will be on the operating board of directors. Human nature suggests they will always favor those who butter their bread.
Blum also takes issue with how votes are allocated to those farms with stallions (stallion owners are entitled to one vote for each $500 of a stallion’s stud fee).
“It appears that large farms standing stallions may control the outcome of the election of inner and outer board members,” Blum said. “For example, if Gainesway stands a syndicated stallion like Tapit or Mr. Greeley, the farm is given all of the votes, not the actual owners or shareholders of the stallion. If this is true, won’t this inequity come as a surprise to most breeders?” (Editor’s note: It is believed that some stallion syndicate agreements may convey Breeders’ Cup votes to majority shareholders.)
As a result of the inequities he sees in the bylaws, Blum calls for widespread change in the election process.
“In view of the existing controversy, will management agree to submit to membership the right to hold a new election for board members under a more democratic process sooner rather than later?” he asked. “When will the BC provide an accounting of all the nomination fees paid in, and why have we not received them to date?”
Breeders’ Cup board member Satish Sanan wrote a rebuttal to Blum’s commentary that was published in the Thoroughbred Times of Jan. 24. Sanan later spoke with the Paulick Report about some of the issues raised by Blum, along with his own role as chairman of a Breeders’ Cup strategic planning committee.
“Mr. Sanan appears to be a constructive voice at the Breeders’ Cup and I hope his efforts bring much needed changes in transparency and benefits to breeders,” said Blum.
Blum said he hopes his decision to speak out on the management and direction of the Breeders’ Cup is not misinterpreted
“My remarks were intended as constructive criticism of Breeders’ Cup management and recommendations for change,” he said. “In no way were they made to be personal in nature or an attack on the Breeders’ Cup concept or festival of racing. On the contrary, my remarks were intended to encourage needed change and redirection of management.”
Copyright © 2009, The Paulick Report
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Tags: airdrie stud, barack obama, blue grass airport, blue grass airport scandal, Breeders' Cup, Breeders' Cup board of directors, brereton jones, brownell combs, Claiborne Farm, coolmore, D.G. Van Clief, darley, gainesway, Greg Avioli, James E. Bassett, james philpoptt, jim friess, John T.L. Jones Jr., Lane's End, Paulick Report, peter blum, Ray Paulick, satish sanan, Seth Hancock, spendthrift farm, Ted Bassett, Three Chimneys, walmac farm, Will Farish, William S. Farish
Posted in Breeders' Cup, Industry Organizations | 21 Comments »
Wednesday, November 19th, 2008
By Ray Paulick
Lane’s End Farm is expected to announce that reigning Horse of the Year Curlin will enter stud at the Versailles, Ky., farm in 2009 for a live foal stud fee of $75,000, the Paulick Report has learned. Lane’s End is owned by William S. Farish, vice chairman of the Jockey Club and former ambassador to Great Britain for President George W. Bush.
Jess Jackson owns 80% of the son of Smart Strike—Sherriffs Deputy, by Deputy Minister, with the other 20% owned by the Midnight Cry Stable of disbarred attorneys Shirley Cunningham and William Gallion. That share has been the focus of a complicated legal battle resulting from a $42-million judgment against Cunningham and Gallion in a civil case. The two also face criminal charges.
Jackson and wife Barbara Banke have offered to buy Midnight Cry’s 20% for $4 million, based on an appraisal by bloodstock expert Ric Waldman that set a $20-million fair market value on Curlin. While Curlin may have been insured for an amount in excess of $40 million, Waldman’s appraisal took into account the current global economic crisis and recent trends in the bloodstock market. The just-concluded November breeding stock sale at Keeneland resulted in a 46% decline in gross revenues.
Jackson announced Nov. 15 that Curlin would enter stud in Kentucky in 2009, though he did not name a farm. At the time, he said various offers were being considered, and also indicated Curlin could become the first stallion to stand at the Stonestreet Farms in Lexington that he owns. The late-season announcement, made after matings for many broodmares already have been planned, may also have contributed to Waldman’s appraisal, which Andre Regard, an attorney for Gallion and Cunningham, said was below the horse’s true value.
No decision is expected on the Midnight Cry share of Curlin prior to a Dec. 1 court date in Franklin County, Ky. If a judge rules that the share should be sold to Jackson for $4 million, an appeal could extend the legal battle well into 2009.
It is believed Gainesway Farm was a “finalist” in the bidding for Curlin’s stud services. Jackson owns a large share of dual 2005 Classic winner Afleet Alex, who stands at Gainesway, owned by South African Graham Beck and run by his son, Antony. Jackson and the Beck family are both involved in the wine business, Jackson in California as the owner of Kendall-Jackson vineyards and the Becks primarily in South Africa. Jackson sells many of his horses through Gainesway and Taylor Made Sales Agency, which is also believed to have been a finalist to stand Curlin. Jackson also is part owner of 2004 Horse of the Year Ghostzapper, who stands at Adena Springs. It isn’t known whether Adena Springs, owned by Frank Stronach, actively recruited Curlin.
With a fee of $75,000, Curlin would be the highest-priced first-year stallion entering stud in Kentucky in 2009. Kentucky Derby and Preakness winner Big Brown will stand at Three Chimneys Farm for $65,000, the same amount as Coolmore/Ashford’s multiple European Group 1 winner Henrythenavigator, who finished second to Raven’s Pass in the Breeders’ Cup Classic in which Curlin was fourth.
“Curlin has proven himself across two continents with 16 starts, the honor of 2007 Horse of the Year and the greatest North American money-earner in racing history,” Jackson said in the Nov. 15 announcement that Curlin would enter stud in 2009. “He always gave it his all and has done everything we have asked of him. I am proud to announce that he will start a new career in 2009 and contribute his soundness, stamina, durability and athleticism to the breed. I am looking forward to seeing his foals compete and possibly exceed his unequaled racing record.”
At the time of the announcement, Jackson said he would consider one more race in 2008 for Curlin if “an appropriate venue and purse are offered.” Curlin has been ruled out of the Clark Handicap at Churchill and Cigar Mile at Aqueduct, the two most likely races for him, so it’s extremely doubtful he will run again.
Curlin, who began his career under the care of Helen Pitts and was transferred to trainer Steve Asmussen after breaking his maiden at Gulfstream Park early in 2007, retires with record earnings of $10,501,800. He won 11 of 16 starts, with two seconds and two thirds. He won seven Grade 1 races: the Breeders’ Cup Classic, Dubai World Cup, consecutive runnings of the Jockey Club Gold Cup, Woodward, Preakness and Stephen Foster Handicap. Bred in Kentucky by Fares Farm, he sold for $57,000 at the Keeneland September yearling sale. Jackson, Satish Sanan and George Bolton bought at 80% interest in Curlin through bloodstock agent John Moynihan for about $3 million after the colt’s maiden win. Jackson eventually bought Sanan and Bolton’s interests.
Curlin’s sire, Smart Strike, stands at Lane’s End for $150,000. Also joining the 2009 roster at Lane’s End is War Pass, the 2007 2-year-old male champion and winner of the Breeders’ Cup Juvenile who will stand for $30,000 live foal.
Kevin McGee, legal counsel for Jackson’s Kendall-Jackson Vineyards in California, would neither confirm nor deny that a deal with Lane’s End was imminent. Attempts to reach Will Farish were unsuccessful. Bill Farish, son of the Lane’s End owner, said he could not comment on the matter.
Copyright © 2008, The Paulick Report
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Tags: adena springs, afleet alex, andre regard, ashford, barbara banke, Big Brown, Bill Farish, cigar mile, clark handicap, coolmore, coolmore/ashford, Curlin, dubai world cup, fares farm, Frank Stronach, gainesway, gainesway farm, george bolton, ghostzapper, helen pitts, henrythenavigator, horse of the year, horse of the year curlin, Horse Racing, jess jackson, jockey club gold cup, john moynihan, Keeneland, keeneland november breeding stock sale, kevin mcgee, Lane's End, midnight cry stable, Paulick Report, Ray Paulick, Ric Waldman, satish sanan, shirley cunningham, smart strike, steve asmussen, stonestreet farms, taylor made farm, taylor made sales agency, Thoroughbred industry, thoroughbred stallions, war pass, Will Farish, william gallion, William S. Farish
Posted in Breeding, Curlin, Horse Racing, Racing Greats, Stallions | 10 Comments »
Monday, September 8th, 2008
By Ray Paulick
The Paulick Report will be live blogging and/or providing frequent updates from Monday’s first session of the Keeneland September Yearling Sale from Lexington, Ky. The sale is scheduled to kick off at 10 a.m. EDT, but as most auction viewers know sessions do not begin on time.
First, a bit of news from John Ferguson, chief bloodstock adviser to Sheikh Mohammed, who is expected to again pace all buyers in expenditures. Ferguson told the Paulick Report that Dubai’s ruler is "here," meaning the United States, though he wasn’t sure when he was expected to arrive in Lexington or on the sale grounds.
Ferguson also said the purchase of Keeneland’s rival sale company, Fasig-Tipton, by an associate of Sheikh Mohammed would have "absolutely" no bearing on his spending decisions at Keeneland. He said he is excited about what Fasig-Tipton will be doing to promote horse racing internationally. "We want a lot of speed boats out there promoting the sport" — as opposed to cruise ships, said Ferguson, who alluded to the numerous slow-moving organizations that can’t seem to get things done. Looking ahead to future sales at Fasg-Tipton, that should be exciting news for breeders. But first, there is this little business of getting some horses sold at Keeneland.
11:30 update… First chuckle of the day when the initial result sheets come out with Morning Wood Farm listed as the buyer of Hip 5, a Ghostzapper filly consigned by Four Star Sales, agent, that brought $185,000. That’s the same "business entity" that purchased Silverbulletday for Mike Pegram for $155,000 at the 1998 Fasig-Tipton July Kentucky yearling sale. Bob Baffert picked out and trained Silverbulletday.
11:;45 update…John Ferguson makes his first purchase of the Keeneland sale, Hip 38, a Storm Cat colt out of Runway Model, by Petionville, sold by Taylor Made Sales Agency for $700,000. Among Runway Model’s racing wins was the Grade 2 Darley Alcibiades at Keeneland. This colt is her first foal.
Looks like the first seven-figure yearling is in the ring, Hip 56, an Unbridled’s Song filly. Hammer price is $1.7 million for the Taylor Made consigned filly on behalf of Aaron and Marie Jones. She is half to champion Speightstown.
Judging by the size of the crowd in the back ring area, Sheikh Mohammed has arrived. Sure enough, he has, and he’s bought the half sister to Speightstown. Sheikh Mohammed assumed his customary bidding spot along the wall with his advisors nearby. The Coolmore outfit, including Demi O’Byrne, is situated less than 25 feet behind the sheikh.
2:20 update…Alaska had its chance for a "Bridge to Nowhere," and Keeneland looks like it just produced a $7.7-million "Bid to Nowhere." Hip 127, a chestnut colt by A.P. Indy out of Horse of the Year Azeri (by Jade Hunter) has a prolonged bidding battle that finally ends up with a $7.7 million hammer price. The auctioneer says the final bid came from bidspotter Pete’s area right in the front of the press box, but no live bidder can be found by the press horde that snakes down the aisle in search of a buyer. Turns out the buyer’s initials are "R.N.A.," or reserve not attained. Sheikh Mohammed’s camp was bidding on the horse but dropped out (see 3:05 update). There are instant rumors that the colt was purchased privately beforehand, but that’s the nature of the business. Rumors abound, and there is seldom any substantiation. The colt is consigned by Hill ‘n’ Dale Sales Agency, agent.
A $7.7-million buyback certainly figures to be a record, but we’ll let the trade reporters answer that question officially.
2:45 update…(Bloodhorse reports it is indeed a record, besting by $200,000 the previous high RNA established in 1985 at the now-defunct Keeneland July yearling sale for Ajdal, who went on to become a champion sprinter in England.)
3:05 update…Turns out Sheikh Mohammed and John Ferguson were not bidding on the $7.7 million buy-back, Ferguson tells the Paulick Report. Demi O’Byrne of Coolmore also said he wasn’t involved. So the question is, was any live money on the A.P. Indy colt? Michael Paulson was in attendance, but one back-ring source said he left the area immediately after the colt went through the ring.
A short time later, Gainesway, agent for Jess Jackson’s Stonestreet, sells an A.P. Indy filly out of graded stakes winner Chimichurri for $3.1 million, with Ferguson signing the ticket for Sheikh Mohammed.
5:35 update….The first session is about to wrap up and it will be interesting to see the final numbers from the day. Anecdotally, it seemed to lack any buzz, and several consignors described the action as "spotty" or "uneven." Going into the day, several leading buyers shared the observation that the 2008 yearling crop wasn’t vintage, at least at the top of the market. Combine that with the worldwide economic slump and the negative publicity that has surrounded horse racing in the United States this year, and it wouldn’t be surprising to see a fairly steep decline in the average.
"This is an emotional business," one consignor said. "You can’t really put a tangible value on an unraced yearling, so we are depending on emotions to drive prices. The emotions surrounding the sport right now are not very good."
One final note. John Sikura, whose Hill ‘n’ Dale Sales Agency consigned the A.P. Indy-Azeri colt Michael Paulson bought back for $7.7 million, spoke briefly about the deal. It seemed clear he wasn’t thrilled being the consignor of a record-priced buyback and insisted there was live money on the colt up the end. "I still don’t know who it was," he said. "We came very close to having the horse sold." Bloodhorse got ahold of Michael Paulson, who said he wants to find a partner and keep a piece of the horse.
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Tags: a.p. indy, azeri, chimichurri, dubai, gainesway, jess jackson, john ferguson, John Sikura, Keeneland, keeneland record, keeneland september yearling sale, Paulick Report, Ray Paulick, record RNA, reserve not attained, RNA, sheikh mohammed, stonestreet, storm cat, Thoroughbred Auctions, yearlings
Posted in Keeneland, Thoroughbred Auctions | 11 Comments »
Monday, August 4th, 2008
John Ferguson, bloodstock advisor to Sheikh Mohammed and responsible for putting the deal together for Dubai-based Synergy Investments to purchase Fasig-Tipton earlier this year, led the way among buyers — signing five tickets for a total of $3,100,000 — at Monday night’s opening session of the company’s two day-select yearling sale at the Humphrey S. Finney Pavilion in Saratoga Springs, N.Y.
The final numbers sent a mixed message to the market, as the gross receipts declined by 9.8% but average rose 16.2% and median price increased by 10.8% from last year’s opening session. Most troublesome was the steep buyback rate of 30.6%, a sharp rise from last year’s 21.9% not sold on the first night.
Though Ferguson was the night’s leading buyer, the highest priced offering Monday, a Storm Cat filly from the Hill ‘n’ Dale Sales Agency consignment, was purchased by Team Valor International for $1,500,000. The Vanlandingham mare Totemic, a graded stakes winner and dam of three stakes winners, including Fountain of Youth Stakes winner Lil’s Lad, produced the filly.
The only other $1-million yearling on the night was an A.P. Indy colt out of the Broad Brush mare Pyramid Lake, purchased for $1,200,000 by William Farish of Lane’s End Farm, where A.P. Indy stands at stud. The colt is out of a half-sister to European Horse of the Year Peintre Celebre and was consigned by Hunter Valley Farm, agent.
Following Ferguson as the first session’s top buyer was Team Valor, the partnership run by Barry Irwin that has been very active at this sale in recent years. Team Valor bought three yearlings for $2,120,000. Third-leading buyer was Legends Racing, a newly formed partnership that is teaming with trainers D. Wayne Lukas, Nick Zito and Bob Baffert to pick out and train its horses, which bought three for $1,205,000, including a $700,000 colt by first-year sire Rock Hard Ten out of Tapstress, a Desert Wine mare. The colt was consigned by Gainesway, agent. The only other yearling by Rock Hard Ten offered Monday night was a colt out of Serena’s Sister, by Rahy, that Maverick Racing bought for $450,000 from Bridlewood Farm, with Denali Stud as agent.
Missing from the list of buyers on the first night was Demi O’Byrne, agent for the Coolmore operation of John Magnier.
Totals for Monday were 59 head sold from 85 offered (with 30.6% not sold) for $17,915,000, an average price of $303,644 and median of $230,000. Last year’s numbers from the first night were 76 sold from 96 offered (21.9% RNA) for $19,867,000, an average of $261,408 and median of $207,500.
(Note: The statistics reported above were amended by Fasig-Tipton to reflect an additional sale of Hip 93, originally listed as RNA but changed to sold for $245,000 to BTA Stable. The adjusted final figures are 60 sold for $18,160,000; $302,667 average and $235,000 median.)
Copyright © 2008, The Paulick Report
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Tags: a.p. indy, Bob Baffert, d. wayne lukas, demi o'byrne, fasig-tipton, fasig-tipton saratoga, gainesway, hill 'n' dale sales, john ferguson, Lane's End, legends racing, nick zito, Paulick Report, Ray Paulick, rock hard ten, sheikh mohammed, synergy investments, team valor, william farish
Posted in Thoroughbred Auctions | Comments Off
Tuesday, July 8th, 2008
Tommy Simon’s Vinery Stable has moved 21 horses from the barn of trainer Steve Asmussen, not long after an allegation of a positive test for traces of the therapeutic anesthetic lidocaine from an Asmussen-trained horse that won a maiden race at Lone Star Park in Texas May 10.
Tom Ludt, general manager of Vinery, confirmed the move to the Paulick Report but would not comment on why the change was made. Ludt said the horses have been distributed among the half-dozen other trainers Vinery employs: Josie Carroll, Larry Jones, Doug O’Neill, Todd Pletcher, Michael Stidham and Michael Trombetta.
Jones is currently awaiting results of a split sample in the wake of an alleged positive test in one of his horses that raced in Delaware for the therapeutic bronchodilator clenbuterol, a Class 3 drug according to the Association of Racing Commissioners International.
Asmussen received notice from the Texas Racing Commission late last month that Timber Trick, a 2-year-old filly owned by Gainesway Stable, tested positive for lidocaine, a Class 2 drug that can be used as a “blocker” but also is found in many non-pharmaceutical products. Texas prohibits any trace of the drug in test samples and is classified as a "zero tolerance" state. Asmussen has retained the legal services of prominent owner Maggi Moss, a trial attorney who put her law practice on hold several years ago to concentrate on her racing stable.
According to the Association of Racing Commissioners International database, Asmussen has a total of 74 rulings involving him, including a number of medication violations, dating back to 1990. He served a six-month suspension in late 2006-early 2007 for a mepivacaine positive in one of his horses racing in Louisiana.
Asmussen, the leading North American trainer by wins and earnings in 2008, is also the conditioner for 2007 Horse of the Year Curlin.
By Ray Paulick
Copyright ©2008, The Paulick Report
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Tags: association of racing commissioners international, clenbuterol, Curlin, doug o'neill, gainesway, Horse Racing, josie carroll, larry jones, lidocaine, maggi moss, mepivacaine, michael stidham, michael trombetta, Paulick Report, Ray Paulick, RCI, steve asmussen, texas racing commission, todd pletcher, tom ludt, tommy simon, vinery
Posted in Curlin, Medication, People | 9 Comments »
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