Pegasus Playbook: Deal Done

by | 01.10.2017 | 3:27pm
Dean Reeves
Dean Reeves

Reeves Thoroughbred Racing, a private racing stable owned by Dean and Patti Reeves of Atlanta, GA., is one of a dozen stakeholders in the $12 million Pegasus World Cup Invitational, the world's richest horse race to be run Saturday, Jan. 28 at Gulfstream Park.

The Reeves, who formed their stable in 2009 with trainer Kathy Ritvo and campaigned 2013 Breeders' Cup Classic winner Mucho Macho Man, are currently searching for a horse to contest the 1 1/8-mile Pegasus. Dean Reeves has agreed to occasionally share his thoughts on the process of acquiring a participant for the world's richest horse race as well as participating in this unique and innovative event.           

I have been working on trying to get a horse to run in our position in the Pegasus World Cup for over 6 weeks now, and I must say I'm worn out!  Here are some of the results of discussions over the past 6 weeks.

I thought I had Connect but the decision was made not run him. Then I thought I had Midnight Storm and the decision was made not to run him either. Then I thought I might have a shot at Arrogate but that chance went up in flames pretty quickly. I missed on Keen Ice and Gun Runner so things were beginning to look dim. I thought maybe Conquest Enforcer would be a nice candidate, but as it turns out it was best to run him in California for now.

In the end many of the owners and trainers made the decision not to run because they were doing what was best for their horse, so I have the utmost respect for those decisions and always applaud putting the horses' best interest first in any situation.

As I sat at the barn Sunday afternoon contemplating the dire situation I looked down the shed row and there was “BG.”  Now BG is a goat Kathy Ritvo got to be our night time security guard to save money.  BG (Baby Goat) does a great job, but he is a little tough on the kids that come by the barn because he is sort of a bully. BG is tough and fast but I'm just not sure if he can get a mile and an eighth.

My phone suddenly rang and awoke me from my stupor. I thought it might have been good news on an offer, but instead it was a reporter wanting to know if I had a deal done on a horse yet.

It was then off to the airport and back to Atlanta. During the flight I thought of a saying we have in Georgia when things can't seem to get done.  The saying is:  “It's time to get the Ox out of the ditch”.

So I became determined to get a deal done on Monday as we are less than three weeks from race day.

By Monday afternoon I had a deal done!

Which horse is it you ask?

Well that info will be out shortly in a press release. I am excited to partner with this horse's connections and I do like our chances!

Thanks for riding along with me on this journey. I must give a lot of credit to Jay Stone, who has been instrumental in helping me navigate through the many horses we discussed along the way. Jay was a big help in analyzing the horses and making contacts to many of the horse owners around the country. Couldn't have done it without his help.

See you at Gulfstream.

Cheers

Dean

  • Five

    Get out the DNA test kit……he’s gotta be Nick Zito’s brother.

    • David Juffet

      Lol! Great mouth piece huh?

      • I’m watching

        What ? Pervert.

        • David Juffet

          What? I was referring to Nick’s ability to communicate. What’s your problem?

        • David Juffet

          By the way who the hell are you?

  • LongTimeEconomist

    Wanna bet that he’s not getting anywhere near a million for his stake?

    • Will Styles

      He’s leasing a horse, and that horse is? First word begins with a B and second word begins with and L. Can you guess who?

      • LongTimeEconomist

        Leasing a horse will probably just add to his loss. A more sensible deal would be to get some front money from the horse’s owner and a piece of the purse.

        I expect that their will be some so-called stake owners who have to eat their million dollar “wager”.

        • Will Styles

          My bad, I shouldn’t say lease. It’s a split on the purse. He’s not fronting any money. I like the horse he used his entry on. Ill like it even more if Arrogate doesn’t run.

        • Lawrence R

          Not one single stake holder will eat his entire Million $. Read the contract.

          • LongTimeEconomist

            Where can one see the contract?

          • Lawrence R

            I found the particulars somewhere on the internet. I don’t remember where. Every entrant shares equally in net profits {includes race pool }.
            Stronach puts up $ for TV this year. Next years TV revenue distribution will be decided in time. Every entrant gets apiece of the 12 mill. purse.
            7 mill,2mill,1 mill.and the rest 250k each. Now that does not add up to
            12 million I know , but those are the figures I read. In addition the original share holders will be first in line to buy in again.{if there is a next year.

          • LongTimeEconomist

            Thanks for that. This put things in a different light. The $250,000 starter money means there will be a full field, including several no-hopers, which could affect the pace and racing luck. Either way, several people who put up a million are going to take a big bath with those no-hopers.

      • Decimus_D

        Breaking Lucky? That’s all I got.

  • lastromantibune

    at this point in time here is what I think happened when the PEG. WC was announced….people thought they could buy a spot and get a good return on reselling it…..they were wrong as we have seen it all play out….not enough good healthy horses that could be competitive….or just two simply dominate ones are scaring the rest away….either way….it was a risky play at best.

    • Figless

      Exactly the point of this race, its a huge gambling event for wealthy owners. Another factor is that some purchased their slot because they had promising horses that either didnt live up to expectations or were injured. That’s part of the risk, same as an old fashioned Futurity system but much higher stakes.

      The good news for this event going forward is its very unlikely there will be two superior horses aimed at it in any given year in the future. While its great publicity and will be a great race for the ages if both start, it has impacted the second tier. In future years it may be wide open making these slots valuable.

      • Will Styles

        What do you have to say when arrogate scratches?

        • Lawrence R

          I m going to say ,” Will Styles is a genius , an absolute seer of the future”
          OK Will?

          • Will Styles

            I’ll take that as a compliment. Seeing how I’m pretty sure Arrogate has and ankle or quarter crack in his right front. Do I get any points for saying Mr. Jordan will be the next horse entered in the Pegasus cup.

  • Lawrence R

    Ah!! But Mr. Reeves gets first dibs on a spot next year also. So the game goes on…..

    • Jay

      What is the over/under on the number of original participants returning next year?

      • Lawrence R

        My guess is that next year all the whales will want in and demand will be high.
        Let me make the odds 1/20 that your reply will be “there will be no next year.”

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