Month: September 2020

Mr. BIg News ‘Full Of Energy’ In Workout Toward Preakness Stakes

Even though Kentucky Derby (G1) third-place finisher Mr. Big News earned a free roll in the 145th Preakness Stakes (G1) by virtue of winning Oaklawn Park's $200,000 Oaklawn Stakes, owner Chester Thomas and trainer Bret Calhoun said that has no bearing on their decision to run in Pimlico's famed 1 3/16-mile classic.

What does have bearing is a workout Mr. Big News had Friday at Churchill Downs, where he cruised a half-mile in 48 4/5 seconds under regular exercise rider Tony Quinones, registering the 22nd fastest of 76 works at the distance. Calhoun said he's seeing all the right signs.

“He was very sharp this morning,” he said. “I know it was cool. He went a little quicker than we wanted, but did it very easy, well within himself. He was full of energy, kind of what we wanted to see. It was what we wanted or better.

Calhoun said Mr. Big News will have a final workout on Saturday, Sept. 26. If all continues to go well, the Giant's Causeway colt will be heading to Baltimore. Yet to be determined is if he'll fly or van, he said.

“He's a fit horse; he doesn't need a lot,” Calhoun said of next week's work. “I'm not looking for fitness. Just maintain what we've got and hold his edge.”

Mr. Big News needed the sort of performance he displayed in the Kentucky Derby for his team to consider the Preakness.

“Absolutely,” Calhoun said. “The free ride in the Preakness was there, but he needed to prove that he belonged with that group of horses.”

Mr. Big News required four races before winning, then was fifth in the Fair Grounds' Risen Star (G2). The victory at 46-1 odds in the April 11 Oaklawn Stakes followed before Kentucky Derby aspirations were dashed — temporarily, as it turned out — by a disappointing sixth in Keeneland's rescheduled Toyota Blue Grass (G2) in July. Next on the agenda was to try grass, for which Mr. Big News is well-bred.

But rain left the Churchill Downs turf course too soft for Calhoun to feel they could get a true reading on the colt's affinity for the weeds. About the same time, it became clear that Churchill's new 20-stall starting gate would not be filled this Derby. And Calhoun loved how Mr. Big News was training.

As entry day for the Kentucky Derby approached, Thomas drew up a list of pros and cons on running.

“I had this long sales pitch I was going to give Bret,” Thomas said. “I didn't get very far into it when he said, 'Dude, you want to run in the Derby; we're going to run in the Derby.' I didn't even get to go through my list.”

“The closer we got to the Derby, knowing we could probably get in, I started really dialing in on the Derby in the back of my mind,” Calhoun said. “The weather forecast for Derby Week looked like more rain, so we thought the turf course would remain soft. And the horse was doing really, really good, and we knew he'd love the mile and a quarter.”

Off at 46-1, Mr. Big News was one of the longest shots in the Derby field of 15. He was in 10th early as Authentic was ripping off fractions of 22.91 seconds for the first quarter-mile, 46.41 for the half, 1:10.23 for six furlongs and 1:35.02 for the mile. Favored Tiz the Law hooked Authentic out of the turn for home but Authentic pulled clear lead, winning by 1 1/4 lengths, with Mr. Big News another two lengths back in third.

“There was no question in our mind that we'd be running for sure at the end of the race,” Thomas said of the Derby. “He made that move at the three-eighths pole, honestly, we thought we were going to win that thing for a second. Talk about a thrill. I'd like to say it was a cheap thrill, but it wasn't cheap because it's a lot of money to run in the Derby. But it was a heck of a thrill. But those horses dug in. Just give Authentic all the credit. I mean, what a horse. Those fractions, we're thinking we're sitting on a winner. I'm looking at those fractions and going, 'Yeah, yeah. All right! Time to go!' He made that move; it was so exciting. You never heard anyone scream louder for finishing third.

“So we're excited. This Preakness looks like it's going to shape up to be one of the tougher Preaknesses. And that's OK.”

The post Mr. BIg News ‘Full Of Energy’ In Workout Toward Preakness Stakes appeared first on Horse Racing News | Paulick Report.

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Keeneland and TCA Team on Sales Initiative to Help Essential Workers

Keeneland and Thoroughbred Charities of America have launched an initiative to provide September Yearling and November Breeding Stock Sales buyers the opportunity to make a voluntary contribution to TCA to assist our industry’s backstretch and farm workers. The voluntary donation will be included in the buyers invoice and equate to .05% of the hammer price of their purchase.

“This partnership with TCA reflects Keeneland’s mission to support worthy causes, and during this time of great need it’s even more important that we take care of our front-line heroes,” Keeneland President and CEO Bill Thomason said. “Keeneland is grateful for the tremendous work done by the TCA, and we are pleased to include this donation opportunity on our buyer forms this fall alongside the Thoroughbred Aftercare Alliance and National Thoroughbred Racing Association.”

The post Keeneland and TCA Team on Sales Initiative to Help Essential Workers appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

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November Auction Anticipated for Zayat Horses Under Receivership

Attorneys representing MGG Investment Group, LP, which is the plaintiff in a $24.5 million Kentucky civil lawsuit alleging fraud and loan defaults against Ahmed Zayat and his family’s Zayat Stables, LLC, disclosed in a legal document filed Sept. 18 that the court-appointed receiver in that case intends to hold a November auction to sell off horses that are being held as collateral against the unpaid debts.

News about this anticipated November auction was made public in the form of a letter dated Friday and filed in United States Bankruptcy Court, District of New Jersey (Newark) by MGG’s counsel.

That letter pertains to a separate court proceeding initiated Sept. 14 by three other creditors who are attempting to force an “involuntary bankruptcy” petition against Zayat Stables. If the forced bankruptcy moves forward, it could keep MGG (and other creditors who are not part of either court action) from collecting on debts that MGG claims are backed by its own “first priority perfected security interest in all of Zayat Stables’ personal property, equine collateral, accounts and proceeds.”

Complicating matters further, Zayat himself (as an individual, not as his racing stable) filed for Chapter 7 protection Sept. 8 in a federal bankruptcy court in New Jersey, claiming to be $19 million in debt. And within that filing, the insolvent 2015 Triple Crown-winning breeder and owner disclosed that he is a party to three other active lawsuits involving money woes.

So right now the tangled financial mess involves numerous creditors jockeying for position to secure spots in a disputed pecking order that could determine which might be first to recoup proceeds from the Zayat horses held in the Kentucky receivership.

That’s important, because the federal court with jurisdiction in Zayat’s personal bankruptcy has already notified the 132 non-priority, unsecured-claim creditors in that case that “no property appears to be available to pay creditors.” So reaping proceeds from the sale of Zayat Stables’ horses appears to be the only means for some of the creditors to get paid.

The Sept. 18 letter from MGG’s attorneys was an attempt to slow down the process in the forced bankruptcy attempt. The day before, the three petitioning creditors in that involuntary bankruptcy case (Zayat’s former financial advisor is one of the parties) filed an Application for Order Shortening Time, in which they requested that an expedited hearing be set for Sept. 22.

“We are writing to request that any hearing on the Motion be scheduled for no earlier than Sept. 29 as the Petitioning Creditors have not presented any emergent circumstances that would require a hearing to be held as quickly as Sept. 22,” the MGG counsel wrote.

“The underlying premise of the Motion appears to be the Petitioning Creditors’ dissatisfaction with a Kentucky State Court receivership proceeding commenced by MGG on January 22, 2020 in the Fayette Circuit Court, in which Elizabeth Z. Woodward has been appointed receiver. The Receivership proceeding, which has been pending for almost eight months, has been heavily contested by Zayat Stables, which has not only failed in its efforts to date to get the Receivership dismissed, but has suffered the entry of judgment against it in the amount of $24,534,166.13.

“Substantially all of the ‘issues’ raised by the Petitioning Creditors in support of their Motion have already been advanced in the Receivership by Zayat Stables, to no avail.

The Receiver and her retained professionals have, under contentious circumstances, made substantial progress in monetizing Zayat Stables’ assets in a manner typical for the liquidation of equine collateral and consistent with accepted industry practices.”

The letter continued: “We are informed that the Receiver does not anticipate selling any of the horses or other components of MGG’s Collateral until a scheduled auction in November 2020, to be conducted by a recognized Thoroughbred auction house, such as Keeneland; nor will any of the proceeds of the MGG Collateral being held or to be collected by the Receiver be disbursed other than for the ordinary course care and maintenance of the Zayat Stables’ horses.

“Notwithstanding that MGG has a first priority security interest in all of the assets that the Receiver is charged with liquidating, and notwithstanding the fact that MGG has made substantial protective advances to the Receiver to preserve the MGG Collateral, MGG will not seek the Receiver make any distributions to MGG until there has been a disposition of the Motion or a further order of this Court,” the letter concluded.

The post November Auction Anticipated for Zayat Horses Under Receivership appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

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Twice Ain’t Nice: Charles Town Bars Horse After Pair Of Mid-Race Incidents

River Crossroad RVF became an internet sensation the first time on July 10, when the 3-year-old gelding ran in Charles Town's seventh race. He was in the lead but made a sudden right-hand turn at the top of the stretch, heading back toward the stable area, reports beyondtheflag.org.

The Jeff Runco trainee made it onto SVP's Bad Beats with Scott Van Pelt and Stanford Steve on ESPN. Though River Crosroad RVF broke his maiden in his next start, he pulled his signature stunt once again on Sept. 10. Charles Town stewards have now barred the horse from competing at the West Virginia track.

The post Twice Ain’t Nice: Charles Town Bars Horse After Pair Of Mid-Race Incidents appeared first on Horse Racing News | Paulick Report.

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