B. Wayne Hughes | Horse Racing Free Tips

Trio Of Kentucky Farms To Sue Jockey Club, Kentucky Horse Racing Commission Over Stud Book Cap

Following is a press release sent on behalf of Spendthrift Farm, Ashford Stud, and Three Chimneys Farm. This is a developing story, and we will be updating as more information, including court filings, is made available.

Three of Kentucky's biggest stud farms have filed a lawsuit challenging The Jockey Club's rule to restrict Thoroughbred stallions from breeding with more than 140 mares each year – the so-called “stallion cap.” The complaint argues that the Kentucky Horse Racing Commission (KHRC) has unlawfully delegated power to The Jockey Club, and that the new rule breaches the Constitutions of Kentucky and the United States as well as federal and state antitrust laws.

The plaintiffs in the complaint are Spendthrift Farm, Ashford Stud and Three Chimneys Farm, who say the stallion cap is a “blatant abuse of power” by The Jockey Club. The suit argues that the rule change is “arbitrary” and “anti-competitive” and will reduce access or drive up prices for many owners of mares looking to access top stallions. The rule also risks driving the best stallions overseas, as no other country with a Thoroughbred stud book imposes a cap.

The plaintiffs believe The Jockey Club's action will have a significant impact on the entire economic structure of the industry by undermining the value of Thoroughbreds throughout the United States, with a consequent impact on jobs and livelihoods. In addition, it places artificial restrictions on breeders' abilities to decide for themselves the best course of action for their stables.

The plaintiffs state there is “no scientific basis” to support The Jockey Club's argument that the rule change is necessary for the health of the Thoroughbred breed or to promote genetic diversity. There are only 42 stallions in the 2020 season who were bred to over 140 mares, and the cap simply means excess demand will move on to the less desirable, less commercial stallions, making it more difficult for breeders to be profitable. Some breeders have stated the new rule will lead them to simply get out of the business rather than tolerate it. No other country has seen a basis for introducing a cap, and the plaintiffs believe such a fundamental change cannot be taken unless supported by robust scientific evidence.

Membership of The Jockey Club is by invitation only, and the decision was made by its Board of Stewards without discussion or a vote at the Club's annual general meeting. The Jockey Club stewards making the decision had clear conflicts of interest, given they also represent or own various breeding and racing entities who stand to benefit now that owners of mares are being denied their first-choice stallion.

Commenting on behalf of the plaintiffs, B. Wayne Hughes of Spendthrift Farm said:

“The introduction of the stallion cap by The Jockey Club is a blatant abuse of power that is bad law, bad science and bad business. A handful of individuals from a private club in New York have been allowed to make a decision that will negatively impact the future of Thoroughbred racing and breeding both in Kentucky and the whole country.

“We have filed this complaint to defend the industry from anti-competitive, un-American and arbitrary decision making that is not based on scientific evidence.

“If they can limit the number to 140, what's to stop them from limiting it to 100 or 80 or any other number down the road? What if your mare isn't one of the 140? We are really concerned about the small breeder's ability to survive this.”

The Jockey Club announced the rule 14c amendment on May 7, 2020, which, beginning with stallions foaled in 2020, limits the number of mares which can be bred to a stallion in a calendar year to 140. The lawsuit was filed in the United States District Court, Eastern District of Kentucky, Central Division.

It argues that the actions of The Jockey Club and KHRC breach sections 1, 2, 3, 8 and 29 of the Constitution of the Commonwealth of Kentucky, which are designed to protect property rights and limit delegations of power by governmental bodies to private entities. In addition, it says the stallion cap violates the due process and equal protection rights of the three stud farms as guaranteed by the 5th and the 14th Amendments to the United States Constitution. The suit also argues the rule violates the Sherman Antitrust Act and suppresses competition.

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Spendthrift Acquires interest in Keepmeinmind

B. Wayne Hughes's Spendthrift Farm has acquired a 50% ownership interest in graded stakes winner Keepmeinmind (Laoban). The 3-year-old colt was second behind Essential Quality (Tapit) in the GI Claiborne Breeders' Futurity and third behind that subsequent champion in the GI Breeders' Cup Juvenile before concluding his 2-year-old campaign with a win in the GII Kentucky Jockey Club S. He currently sits second on the GI Kentucky Derby leaderboard with 18 points.

“We are delighted to be a part of such an exciting young racehorse as Keepmeinmind, and thankful to Cypress Creek and Arnold Bennewith for the opportunity to join the team,” said Ned Toffey, Spendthrift general manager. “We believe Keepmeinmind is poised for a big 3-year-old year. He demonstrated tremendous talent as a 2-year-old, placing twice in Grade Is, including the Breeders' Cup Juvenile and finishing up the year in style with a convincing win in the Kentucky Jockey Club S. at Churchill.”

Campaigned by Cypress Creek LLC and Arnold Bennewith, Keepmeinmind is entered in next Saturday's GII Risen Star S. at Fair Grounds and will make his seasonal debut either there or in the Feb. 15 GIII Southwest S. at Oaklawn Park.

Trained by Robertino Diodoro, the bay colt is expected to work at Oaklawn Monday morning before a decision is made on his next start.

“There's a couple of variables,” Diodoro told the Oaklawn communications department on a decision between the two races. “I think we're going to wait and see the next 72 hours. The short field here is a little bit of a concern with his running style. If you've got a speed horse, like a couple of guys do in the race, perfect having five, six horses. But when you have a come from behinder, that's not the most ideal thing.”

Keepmeinmind recently breezed a bullet five furlongs in :59 flat (1/17) Feb. 2 at Oaklawn.

Autrey Bloodstock brokered the deal for Spendthrift to join the current ownership group.

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Spendthrift Farm Acquires Half Interest In Kentucky Jockey Club Winner Keepmeinmind

B. Wayne Hughes' Spendthrift Farm has acquired 50% ownership interest in the 3-year-old colt Keepmeinmind, winner of the Kentucky Jockey Club Stakes (G2) last fall at Churchill Downs and currently second on the Kentucky Derby leaderboard with 18 points.

“We are delighted to be a part of such an exciting young racehorse as Keepmeinmind, and thankful to Cypress Creek and Arnold Bennewith for the opportunity to join the team,” said Ned Toffey, Spendthrift general manager. “We believe Keepmeinmind is poised for a big 3-year-old year. He demonstrated tremendous talent as a 2-year-old, placing twice in Grade Ones including the Breeders' Cup Juvenile and finishing up the year in style with a convincing win in the Kentucky Jockey Club Stakes at Churchill.”

Campaigned by Cypress Creek LLC and Arnold Bennewith, Keepmeinmind will either make his seasonal debut in the $400,000 Risen Star Stakes (G2) next Saturday at Fair Grounds – where he is entered in post 12 with jockey David Cohen – or the $750,000 Southwest Stakes (G3) at Oaklawn Park two days later on Presidents' Day.

Trained by Robertino Diodoro, the bay colt by Laoban most recently breezed a bullet five furlongs in :59 flat on Feb. 2 at Oaklawn. Autrey Bloodstock brokered the deal for Spendthrift to join the current ownership group.

As a 2-year-old, Keepmeinmind finished runner-up to champion Essential Quality in the Breeders' Futurity (G1) at Keeneland in just his second start. He was also a fast-closing third to that colt in the Breeders' Cup Juvenile a month later, before breaking his maiden against stakes company in the Kentucky Jockey Club to close out a successful juvenile campaign.

An earner of $394,320 to date, Keepmeinmind is out of the Victory Gallop mare Inclination. He was bred in Kentucky by Southern Equine Stables.

Keepmeinmind's final workout for his 3-year-old debut is scheduled for Monday at Oaklawn.

“There's a couple of variables,” Diodoro said concerning whether the colt goes in the Risen Star or Southwest. “I think we're going to wait and see the next 72 hours.”

Diodoro said the potential of bad weather and a compact Southwest field make the Risen Star an option for Keepmeinmind, who has been based at Oaklawn since late December.

“The short field here is a little bit of a concern with his running style,” said Diodoro, Oaklawn's leading trainer in 2020. “If you've got a speed horse, like a couple of guys do in the race, perfect having five, six horses. But when you have a come from behinder, that's not the most ideal thing.”

Diodoro said he plans to breeze Keepmeinmind at 10 a.m. (Central), following Monday's second surface renovation break. Keepmeinmind has had five published works this season at Oaklawn, including a five-furlong bullet move (:59) after the second break last Tuesday under regular rider David Cohen.

“Just a little quieter out there,” Diodoro said, referring to the late time.

Unbeaten Eclipse Award winner Essential Quality is scheduled to make his 3-year-old debut in the Southwest, trainer Brad Cox said. Essential Quality (3 for 3) was the country's champion 2-year-old male after winning the Breeders' Futurity and Breeders' Cup Juvenile. Essential Quality has been based this winter at Fair Grounds.

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Thousand Words Retired to Spendthrift

Thousand Words (Pioneerof the Nile–Pomeroy’s Pistol, by Pomeroy) has been retired from racing and will begin stud duties this year at B. Wayne Hughes’s Spendthrift Farm. The 4-year-old, a $1-million Keeneland September purchase, was campaigned by Spendthrift and Albaugh Family Stables and was trained by Bob Baffert. He won the 2019 GII Los Alamitos Futurity and 2020 GIII Robert B. Lewis S. and Shared Belief S. He was also second in the GIII Los Alamitos Derby.

Thousand Words retires with four wins and a second from nine starts and earnings of $327,500.

“Thousand Words is a horse we have been high on since the day we partnered with the Albaugh family to buy him at the Keeneland September sale,” said Ned Toffey, Spendthrift general manager. “We believed he was one of the best combinations of pedigree and physical we saw that year, which is why he commanded a million dollars. He was forward from the day he started training in Ocala, and Bob Baffert told us pretty early on that Thousand Words was a Derby horse. He was an undefeated Los Al Futurity winner at two and beat Honor A. P. in a final Derby prep race at three. Thousand Words is a terrific package and will greatly complement our stallion roster, especially at his price point. We think breeders are really going to like everything he has to offer as an exciting young stallion prospect.”

Thousand Words will be part of Spendthrift’s “Share the Upside” program. The Share The Upside fee for Thousand Words will be $10,000 for one year. Breeders must breed a mare in 2022 on a complimentary basis. After the breeder has a live foal in 2022, pays the stud fee, and breeds a mare back, he or she will earn a lifetime breeding right beginning in 2023. For breeders not interested in the Share The Upside program, Thousand Words will be offered for $7,500 on a standard stands and nurses contract.

Thousand Words is now available for inspection at Spendthrift by appointment only.

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