Month: March 2023

Trainers Speak Out on HISA at HBPA Conference

Edited Press Release

The 2023 National HBPA Annual Conference closed with a lively discussion with three prominent horsemen who questioned the need, validity and overreach of federal legislation pitched as the so-called savior of racing while the industry heads into a challenging economic and logistical future.

Bret Calhoun, Ron Faucheux and Jason Barkley participated in the Trainer's Talk panel moderated by multiple Eclipse Award-winning journalist and media specialist Jennie Rees and talked about everything from the Horseracing Integrity and Safety Authority, challenges facing small to mid-sized stables, finding and keeping help and what gives them motivation in spite of all of racing's uncertainties.

HISA dominated the discussion–as it did much of the conference this week at The Hotel Monteleone in New Orleans–and the trio pulled no punches when it came to the controversial entity.

“The whole thing is a façade. It's been all smoke and mirrors,” said Calhoun, a member of the Louisiana HBPA board who also maintains strings in Kentucky and Texas. “They sold this thing as the safety of the horse. It's absolutely not about safety of horse. It's a few people, with self-interest and they have their own personal agenda.”

Faucheux, also a member of the Louisiana HBPA board and just two back of the leader on the Fair Grounds' leading trainer's list that he topped for the 2021-22 meeting, conditions a stable of about 60 horses and hasn't left his native state since HISA rules went into effect last summer.

“I haven't signed up and I won't sign up. I'll get out of training if I have to sign up,” Faucheux said. “A stable like mine, 55-, 60-horse stable, I couldn't afford the cost of having to hire somebody to do the paperwork for me. The added expenses of it all, it wouldn't work financially for me. It's a struggle to get by the last couple years. Feed costs have gone up 50 percent, hay, shavings, it doesn't make financial sense for a trainer in Louisiana year-round to sign up and have to take on all those added fees because right now we're barely making it as it is.”

Barkley maintains a stable of about 30 horses based at Fair Grounds and Oaklawn Park in the winter and in Kentucky the majority of the year. A member of the Kentucky HBPA board and a third-generation horseman, Barkley said he feels the impact of the regulations already and only sees them as potential obstacles for trainers hoping to grow their stables.

“A lot of my smaller clients they don't want to pay the added cost of a per-start fee, the extra vet checks, and all the added fees they want to put on us,” Barkley said. “There's added costs and the time to do all the work. Between me and my main assistant, who is my wife, Shelbi, we do the extra paperwork, keeping track of everything. We already kept track of what every horse got every day but to then have to put it into files, that doubles the workload. That is time taken away from actually working with your horses, which is what you should really be focused on.”

Fixed-Odds Wagering…

Fixed-odds wagering on horse racing is coming to America and should be embraced as well as understood by horsemen.

That was the advice of two heads of major horse-racing content distributors and two executive directors of horsemen's associations. They spoke on a closing-day panel at the National Horsemen's Benevolent & Protective Association conference.

The panelists addressed both the growth of U.S. tracks sending their race product to legal bookmakers overseas and the possibilities and challenges of introducing bookmaker-style fixed odds as a wagering option at U.S. tracks, whether at the actual track, another bricks-and-mortar facility or online.

“We've really had a mantra to educate our members on what's coming,” said National HBPA CEO Eric Hamelback. “Whatever you decide as a state–to bring it in, not to bring it in, or if you're fortunate enough to have a sports-wagering license–I believe sports wagering and fixed odds are in our future. But it's up to us to continue to educate everyone properly on the pros, the cons and the nuances of what's going on.”

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Dual Champion Heart’s Cry Dies At 22

Japanese and UAE champion and top sire Heart's Cry (Jpn) (Sunday Silence–Irish Dance {Jpn}, by Tony Bin {Ire}) died on Mar. 9, the Japanese Racing Association (JRA) announced on Friday. The 22-year-old was in good health until he passed, due to a sudden inability to stand.

Teruya Yoshida, CEO of Shadai Farm, said in a statement, “Hearts Cry ran out of steam last night [Thursday]. I heard from the person in charge of the Shadai Stallion that he left nobly and without showing any weakness until the very end.

“When training, he had a unique gait, but the difference in the springs shown on the training course was obvious. I had worked on many Sunday Silence progeny before, but the way they bounced, agility, and propulsion were so different that I handed them over to trainer Kojiro Hashiguchi with great confidence.”

Bred by Shadai Farm, the April foal went into training with Hashiguchi and carried the Shadai Racing Horse silks with honour in three countries. Best known for his defeat of paternal half-brother Deep Impact (Jpn) in the 2005 Arima Kinen (video), he showcased his quality on the world stage, taking the 2006 G1 Dubai Sheema Classic at Nad Al Sheba Racecourse in Dubai, and finished a respectable third in the G1 King George VI And Queen Elizabeth Diamond S. later that year.

Yoshida added of the dark bay's racing career, “The highlight of my racing life is probably his three races from the end of [his] 4-year-old year to early in his 5-year-old season, especially when he defeated Deep Impact in the Arima Kinen. I was worried that the opponent would be the only rival and Heart's Cry would have a dirty image after that, but the overwhelming victory in the next round of the Dubai Sheema Classic proved that the level of horse racing in Japan has progressed to a tremendous level, and it has been a great opportunity for the officials, fans and media. Everyone was happy.”

Retired to stand at Shadai Stallion Station in 2007 after five wins from 19 starts and over $8 million in earnings, Heart's Cry would spend his entire stallion career there. The sire of 63 black-type winners (44 group), his best runner was versatile mare Lys Gracieux (Jpn), who won the Arima Kinen in 2019, as well as the G1 Cox Plate, G1 Takarazuka Kinen, and G1 Queen Elizabeth II Cup. Of his 11 top-tier winners, G1 Tenno Sho (Autumn) and G1 Yasuda Kinen hero Just A Way (Jpn) also traveled to the deserts of Dubai, and left with a victory in the G1 Dubai Duty Free.

Stateside, his son Yoshida (Jpn) is one of two stakes winners from just four to race. An ¥94,000,000 (£578,299/€653,571/ $696,836) purchase out of the JRHA Select Yearling Sale, the young sire won the GI Woodward S. on dirt and the GI Turf Classic S. on turf. Currently a resident of WinStar Farm, his first 2-year-olds run this year.

Added Yoshida after Heart's Cry was pensioned in 2020, “After retiring as a stallion, he spent his time comfortably on the pasture. I wanted you to enjoy this comfortable life for a longer time, and I wanted you to live forever, but I am sorry that it was a sudden parting. I hope you rest in peace.

“I would like to take this opportunity to express my sincere gratitude to all the people involved in his life, the fans who supported us, and the breeders who chose us as our compounding partners. Thank you very much for your help so far. Thank you.”

As a broodmare sire, Heart's Cry is responsible for seven stakes winners anchored by Japanese Horse of the Year Efforia (Jpn) (Epiphaneia {Jpn}) and G1 Blue Diamond S. winner Tagaloa (Aus) (Lord Kanaloa {Jpn}).

Heart's Cry with jockey Christophe Lemaire win the Arima Kinen | Horsephotos

 

 

Regular rider Christophe Lemaire tweeted, “Very sad to hear [of] the passing of my champ. It all started with him for me in Japan. Big thoughts to Teruya Yoshida and Shadai Farm staff. Legends never die.”

Out of the dual Japanese stakes winner Irish Dance, Heart's Cry was the best foal of his dam. A half-sister by El Condor Pasa produced G3 Fairy S. heroine Omega Heart Rock (Jpn) (Neo Universe {Jpn}). Eclipse Champion Sprinter My Juliet (Gallant Romeo) is under the third dam, as is four-time Grade I winner Stella Madrid (Alydar), GI Ashland S. winner Lilacs And Lace (Flower Alley) and GI Shuvee H. scorer Tis Juliet (Alydar) while his extended family features G1 February S. hero Nonkono Yume (Jpn) (Twining), G1 Irish Oaks victress Winona (Ire) (Alzao), and dual Grade I winner Super Quercus (Fr) (Hero's Honor).

 

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Thoroughbred Owner Conference Virtual Series Begins With Panel On Accounting, Tax Considerations

The 2023 Thoroughbred Owner Conference streamed its first panel Tuesday, March 7, with a dive into accounting and tax considerations for Thoroughbred owners. The conference is hosted by The Jockey Club and the Thoroughbred Owners and Breeders Association and presented by Bessemer Trust, Stoll Keenon Ogden, and The Green Group. The panel was sponsored by Mersant International.

The panel was moderated by Gary Falter, project manager for OwnerView, and the panelists were Len Green, founder and chairman of The Green Group; Jonathan Green, a certified financial planner and manager of D.J. Stable; and Aron Yagoda, Thoroughbred owner and a board member of the New York Thoroughbred Horsemen's Association.

The panel covered a broad range of topics, including understanding the cost of ownership, principles of accounting, tracking revenues and expenses, tax considerations, sales, and giving back to the industry.

Attendees were able to ask questions through the Q&A link toward the beginning of the discussion and again at the end of the panel.

The panel began with a discussion on the general costs of owning racehorses and how to budget.

According to Yagoda, to begin you must hire a trainer and understand training costs, which can be about three-quarters to 80% of your monthly bill.

“They [training costs] range from $65 a day to $125 a day depending on where you're racing and what circuit you are racing in, and there are other costs associated with that that you have to take into consideration.” he said.

“You are talking about another anywhere from $1,000 to $3,000 a month that constitutes veterinary bills, vanning, blacksmith, travel, and race expenses,” Jon Green said.

“There is really not much price difference between campaigning a $5,000 claiming horse or campaigning a graded stakes winner,” he continued. “The expenses are all almost the same. The fixed costs are almost the same. The only difference is if you have a better horse you are going to spend a little more on investing in stakes nominations and maybe a little bit less in vet fees, but otherwise it costs almost the same amount of money.”

With regard to tax considerations, Len Green explained some of the differences between owning racehorses and other assets, and some of the different types of deductions and expenses associated with horse ownership.

“People who specialize in the business really know how to save your taxes and maximize your deductions, and you really want to be active enough to do each of these things,” Len Green said. “The key to having a chance to make money is to be active and keep records and see where you are and if necessary, pivot and change the way you are doing things.”

The session concluded with a discussion about how owners can give back to the industry.

“The way that we look at it and try to promote it to our clients is that when you buy a horse, you are buying a horse for that horse's lifetime. You are not just buying it for that horse's racing career,” Jon Green said. “If you have an opportunity to repurpose that horse and retrain it to have a second career, we really feel like that's what you should be doing.”

The replay of Tuesday's panel and previous Thoroughbred Owner Conference panels is available at bit.ly/OVVideos.

Nine additional Thoroughbred Owner Conference virtual panels are scheduled for 2023.

The next session will be held April 4 at 2 p.m. ET and will feature expert handicappers discussing the details of a variety of betting options and handicapping your horse's race. A full schedule can be found here: bit.ly/OVSchedule.

There is no registration fee for the 2023 virtual conference series, but registration is required. For more information about the owner conference series, including the schedule of panels and registration, please visit ownerview.com/event/conference or contact Gary Falter at 859.224.2803 or gfalter@jockeyclub.com.

OwnerView is a joint effort spearheaded by The Jockey Club and the Thoroughbred Owners and Breeders Association to encourage ownership of Thoroughbreds and provide accurate information on aspects of ownership such as trainers, public racing syndicates, the process of purchasing and owning a Thoroughbred, racehorse retirement, and owner licensing.

The need for a central resource to encourage Thoroughbred ownership was identified in the comprehensive economic study of the sport that was commissioned by The Jockey Club and conducted by McKinsey & Company in 2011. The OwnerView site was launched in May 2012.

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Cody’s Wish Aiming for Derby Day Return

Cody's Wish (Curlin), last seen capturing the GI Breeders' Cup Dirt Mile in dramatic fashion at Keeneland Nov. 5, is targeting the GI Churchill Downs S. on the GI Kentucky Derby undercard for his 2023 lidlifter.

The Godolphin homebred returned to the worktab with a three-furlong breeze in :38.80 (2/3) at Hall of Famer Bill Mott's Payson Park base Mar. 1. He breezed four furlongs in :51.80 (32/33) Friday.

“He is doing very well,” Godolphin USA Director of Bloodstock Michael Banahan said. “He looks in fantastic shape. After the Breeders' Cup, he probably needed a little bit of a break, and it did him well. He's a big horse already and he filled out and got even stronger. Bill is very happy with him. He's just stepping it up a little bit now.”

Cody's Wish, an Eclipse Award finalist for champion sprinter, capped his 4-year-old campaign riding a four-race winning streak. He punched his ticket to Lexington with a breakthrough victory over champion sprinter Jackie's Warrior (Maclean's Music) with a career-best 112 Beyer Speed Figure in the GI Forego S. at Saratoga Aug. 27.

The bay is a perfect four-for-four at the site of his intended seven-furlong comebacker, all going a one-turn mile, led by last summer's Hanshin S.

Looking further ahead in 2023, races like the prestigious GI Hill 'n' Dale Metropolitan H. on the loaded GI Belmont S. program could be on the radar for Cody's Wish as well.

“You hate to get too far ahead of yourself, but if he's doing well, we'll certainly be looking in that direction for sure,” Banahan said.

Cody's Wish, one of 20 Grade I winners for leading sire and two-time Horse of the Year Curlin, was produced by GI Gazelle S. heroine and late-running GI Breeders' Cup Filly & Mare Sprint third-place finisher Dance Card (Tapit). His 7-year-old half-brother Endorsed (Medaglia d'Oro) is currently on a three-race winning streak of his own, including wins this winter for trainer Mike Maker in the GIII Fred W. Hooper S. and GII WinStar Gulfstream Park Mile S., respectively.

With G1 Dubai World Cup winner and 'TDN Rising Star' Mystic Guide (Ghostzapper) and GI Carter H. winner Speaker's Corner (Street Sense) already set to join the stallion roster at Jonabell Farm in 2023, the decision was made to have Cody's Wish remain in training for his 5-year-old season.

“We debated it extensively internally,” Banahan said. “After he beat Jackie's Warrior in the Forego, we thought we could go wherever we wanted with him as far as a stallion prospect. Probably what made it a little bit easier, we had two new stallions coming in already and we felt that there was still plenty to achieve with Cody's Wish. We're hoping to have a really big year with him.”

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