Bloodstock Agent Chris Richner Dies At 68

Chris Richner, a popular face on the French sales circuit who combined his bloodstock agency with being a longtime representative of the Agence Francaise and Arqana, has died at the age of 68 from Covid-19.

The Swiss-born horseman worked in banking in England and Switzerland before putting his equine knowledge to good use in his role as an agent particularly focused on assisting Eastern European clients. 

Among the Classic winners purchased by Richner for Hungary, Serbia, Slovakia and the Czech Republic are Border War (Fr), Czech Chardonney (Fr), Eminens (Fr) and Magnas (Fr), while Autor (Ire) won the G3 St Leger Italiano. He was also responsible for buying Tzigane Du Berlais (Fr) (Poliglote {GB}), winner of the famous Velka Pardubice steeplechase, as a yearling from Arqana for €26,000.

Two of Richner's best known purchases were Subway Dancer (Ire), a dual Group winner in France who was also third in the G1 Champion S on British Champions Day, and the G2 Prix du Gros Chene winner Tour To Paris (Fr).

Acknowledging his contribution to the sales company, a statement released by Arqana said, “We sincerely thank [Chris] for all these years spent at our side. Always a friendly face at the sales, his joie de vivre and kindness will be missed by all.”

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Joe Migliore Goes All In as Bloodstock Agent

Joe Migliore never really considered a career outside of racing. With an Eclipse Award-winning jockey as a father and a mother who worked as an assistant trainer, to him, the sport was always more than just a popular topic at the dinner table.

“I think it was pretty much ingrained from day one that this is the place I wanted to be,” Migliore said. “It definitely started at the racetrack. I rarely had a day where I thought of anything else.”

Migliore first developed his passion for the sport by following his father, now-retired jockey and current America's Day at the Races analyst Richard Migliore, around the New York racing circuit.

“It was special because you're so invested in a specific athlete's performance, and it's your father so it's obviously someone you idolize and it kind of heightens everything about each race,” he explained. “Each high and low was a little bit more amplified because, you know, it's your dad out there. I learned about horses from him, but also my mother, Carmela, was an assistant trainer for two decades. So having two parents that were both racetrackers definitely accelerated the learning process.”

As a child, the younger Migliore dreamed of following the “The Mig” in becoming a top jockey, but after surpassing six feet in height, he turned his attention toward other career options.

This year, Migliore is setting out to form his own bloodstock agency, a dream he has had for years.

“I remember pretty early on as a teenager being able to shadow a couple of bloodstock agents at Saratoga's Select Sale and feeling the electricity at that sale,” he said. “Each sales ground has a little bit of a different vibe, but it's the same process being employed at each sale. For me, there was always a big draw to the electricity of finding the next very talented horse.”

As a teenager, Migliore walked hots for Mike Hushion and John Kimmel at Saratoga while working in NYRA's Communications Department in the afternoons. After college, he graduated from the Irish National Stud Breeding Course.

“That was a great chance for me to widen my perspective on the industry and really get into more of the breeding elements and the global aspects of what our industry is about,” he explained. “I met a lot of great friends there and was able to parlay that into working down in Australia after I finished the course.”

Following his return to the States, Migliore worked as a sales associate for West Point Thoroughbreds for six years.

“West Point is such a tremendous team and there's such a family atmosphere there,” Migliore said. “I learned so much about syndications and partnerships, but specifically, you're dealing with a variety of owners and when you have a partnership the size of West Point, that really accelerates the number of people that you deal with and the number of reactions you see.”

Migliore said a milestone this year was the push he needed to set off on his own.

“I'd gotten to a point where I felt I had seen everything I wanted to experience from the syndication side of the game and I've started to really make some strong connections with owners that were willing to give me an opportunity,” he said. “I just turned 30 and it felt like the timing was right. I felt like I had done everything I needed to prepare myself for this next step and with the support of some great owners, I'm hoping that I can turn this into a bloodstock agency that flourishes.”

One important connection made at West Point was with owner Robert Masiello.

Last summer, Migliore unearthed Fiya (Friesan Fire) on the Wanamaker's online auction.

Coming off a three-length win over allowance company in July as a 3-year-old, the gelding was purchased by Masiello for $400,000.

“We watched his replays and immediately said this was a horse we needed to learn more about,” Migliore recalled. “We paid a lot of money for him, but I think at the end of the day, when good horses show themselves on the racetrack, you're going to have to pay a lot of money for them.”

The duo was rewarded when Fiya went on to stay undefeated as a sophomore last year, taking an allowance at Belmont before stepping up to stakes company to win the Maryland Million Turf Sprint H. and the Claiming Crown Canterbury S.

“He's heading into 2021 with a big head of steam,” Migliore reported. “Hopefully you'll see him in the GI Jaipur S. on Belmont Day. That's kind of our big, early-summer goal.”

When the 2-year-old sales season kicked off this year at the OBS March Sale, Migliore was active on the grounds.

“OBS ended up being a very solid market,” he said. “It was very hard to buy the obvious good works or the obvious strong physicals. Those horses were making far greater than fair value and I think it's a market the sellers should be happy with. It made it a challenge from my perspective as the first sale working on my own, but I was happy to come away with one.”

Fiya goes wire-to-wire in the Claiming Crown Canterbury S. | Lauren King

On the second day at OBS, Migliore went to $145,000 to purchase Hip 365, a More Than Ready colt from the Niall Brennan consignment, for owner Glenn Del Russo.

“The way the sale went, I think this horse was really well bought for the money,” Migliore noted. “He has a strong female family and with More Than Ready being a sire that puts great versatility into them, I think we bargain-hunted very well.”

Migliore said he plans to be back in action next week at the Fasig-Tipton Gulfstream Sale.

“It's obviously a high-end, boutique sale so you're going to have all the heavy hitters there as well,” Migliore said. “I'm hopeful that I can find something for Rob Masiello, but at the same time, neither of us are looking at it like it's do or die. If something falls to what we think is the right price, you'll see our name on the ticket, but if not we still have April and further sales down the road. In this market, it's more challenging now as a buyer, but that just means we're going have to go out there and do work that's twice as good.”

When shopping at the sales, there are certain characteristic Migliore looks for in his prospects.

“For me, there's a lot weighted on their hind end,” he said. “You need to see a lot of strength there. For U.S. dirt racing, that's the key element of a horse's conformation that I would look for. I think first impressions are something I've been trying to lean on, you know, that horse that really catches your eye almost instantly. That's the horse I hope to gravitate towards and not get too into the nitty gritty of trying to fault them rather than trying to find something you like about them.”

While in Ocala for the OBS Sale, Migliore's mother Carmela tagged along to watch her son in action.

Carmela said her son's attention to detail is one reason why she believes he will be successful in this new venture.

“Even just from spending the last few days with him, I'm very impressed,” she said. “I love the fact that he has so many different levels of exposure. He totally encompasses everything about the game. Of course, we all want to make money in this business, but he really, truly enjoys it. It's in his blood and he was really made for this.”

Asked about his long-term goals as an agent, Migliore replied, “I'll be really happy if I can service each individual owner to create an experience for them that is as close to exactly what they were looking for when they got into this industry as possible. I think it's my job and my role to get them to the place they want to be, and not really tell them what they should be doing. If I can fulfill that experience and make some lifetime memories at the racetrack for people, I think I've done my job.”

To be a successful agent, Migliore knows he must rely on his people skills just as much as his horse sense. He credits West Point's Chief Operating Officer Tom Bellhouse for helping him develop such an aptitude.

“Tom is a guy that really taught me not so much about horses specifically, but how to deal with people and conduct myself in the industry,” he said. “Tom and I have a great friendship and if I hadn't learned some of the things I learned from Tom, I definitely would not be ready for what I'm trying to do now.”

Later this summer, Migliore's work will come full circle as he returns to Fasig-Tipton's Saratoga location, where he first discovered his passion for the sales.

“The one sale that I'm really excited to work this year and I'm going to have a big focus on is the Fasig-Tipton New York-bred Yearling Sale,” he said. “It's a sale that I've really enjoyed in the past and I've been able to find some nice New York-breds there.”

When he's not studying pedigrees and past performances, Migliore enjoys playing a game of poker, once placing 97th overall in the World Series of Poker. Quite the feat for someone who was in their twenties at the time, but compared to picking out the next GI Kentucky Derby winner, making a run in a poker tournament seems relatively simple.

“Looking at horses is a subjective process, right?” Migliore questioned. “Yes, there are conformation elements that you need to know, but at the end of the day, we all have a certain taste or a certain opinion of what a horse may or may not be. To me, that's one of the most exciting parts of our industry, is that it's not a game that can be solved. The sales are kind of where everybody lets their chips fall and we find out years down the line who made the right decision.”

For Joe Migliore, that just adds to the appeal.

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TDN Q & A With Nicolas de Watrigant

With the yearling sales now in full swing TDN quizzes industry figures on past purchases, life during lockdown and gets their perspective on the sales for the next few weeks. Nicolas de Watrigant answers our questions today.

TDN:  What was your best yearling purchase over the last few years? And your favourite?

NDW: From the 2014 Arqana August sale, Qemah (Ire) (Danehill Dancer {Ire}) was definitely one of the very best horses I have purchased. Winning both the Prix Rothschild G1 at Deauville and the G1 Coronation S. during Royal Ascot, in front of Her Majesty The Queen, is one of my fondest racing memories and it was an amazing moment for H.E Sheikh Joaan Al Thani and all of the filly’s connections.

TDN: Is there any positive you have taken from how the sales have been conducted this year?

NDW: Absolutely, I think the different sales companies in the world have managed to adapt really well to the problem, whether with re-arranging sales dates and locations, but also giving more information to the buyers online and the opportunity to buy online. This is a great step for the future. The sales companies who have combined their efforts and worked together, have in my opinion, shown true intelligence in a difficult moment.

TDN: How has your business adapted?

NDW: As we couldn’t move from home during lockdown, it gave me the opportunity to spend time with my family while I was getting news on the phone from the different trainers that we’re working with. It enabled me to continue reporting to our clients. As soon as lockdown was over we got back to a nearly normal life, on mornings going to the various training centers in France to check clients’ horses and sourcing new horses for others clients. We realized that, in France, we were lucky that racing resumed shortly after, even though we weren’t able to attend racing.

TDN: In general what are your thoughts on the 2020 yearling catalogues? And what progeny of new stallions are you most looking forward to?

NDW: The 2020 Arqana Select Sale catalogue appears to be a very good vintage with the offspring of many proven stallions such as Galileo (Ire), Dubawi (Ire), Sea the Stars (Ire), Frankel (GB), Kingman (GB), Lope de Vega (Ire), Invincible Spirit (Ire), Le Havre (Ire), Siyouni (Fr), Kodiac (GB), Wootton Bassett (GB), Dark Angel (Ire), etc. I believe that it really is a year of opportunities, and the chance for owner/breeders to get into big European families from England, Ireland, Germany and Italy at more reasoned prices.

The Arqana Select Sale has proved over the years that it is a great source of top class horses, more recently with G1 horses like Sottsass (Fr) (Siyouni {Fr}) who won the French Derby for Peter Brandt, or with Uni (GB) (More Than Ready) who is a Breeders’ Cup Mile & triple Grade I winner in the USA, which I was lucky to purchase in association with Bradley Weisbord for Madaket and their partners.

As for the new stallions, I am naturally looking forward to see the first yearlings of Al Wukair (Ire), whom I purchased as a yearling for Al Shaqab Racing. Al Wukair won the G1 Jacques le Marois as a 3-year-old just like Kingman and Dubawi, and was a close third in the G1 2000 Guineas to another young and talented horse, Churchill (Ire) (Galileo {Ire}).

TDN: Did you develop any new interests or hobbies during lockdown?

NDW: I think my wife, Meryl, was hoping for me to improve my cooking skills during that time, but it didn’t happen. I love gardening, during lockdown it was a great excuse for me to exercise this passion with my kids.

TDN: Who’s the most interesting person you know?

NDW: Without hesitation I would say Mrs. Tsui, the owner of Sea The Stars, who I am lucky to work with. I have a lot of admiration for what she has achieved in her life. Mrs. Tsui won the Arc twice with both the incredible mare Urban Sea (Miswaki) and her son Sea The Stars, nearly three times with Sea Of Class (Ire) (Sea The Stars {Ire}) beaten a nose by Enable (GB) (Nathaniel {Ire}). She is a women who is very knowledgeable in many sectors of many industries.

TDN: What’s one mistake (if any) you made in your career, and what did you learn from it?

NDW: I am always following my instinct to make the right decision but not listening to my wife was my mistake in the past, as she is great adviser. I now make sure I listen to her.

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Hernon Launches Bloodstock Agency

Michael Hernon, who served as Gainesway Farm’s Director of Sales for the past 24 years, has launched his own bloodstock agency, Michael Hernon Bloodstock LLC. Starting in the mid-1990s, Hernon managed the stallion books of sires including Broad Brush, Cozzene and Mt. Livermore. More recently, he oversaw the books of leading sires Tapit and Empire Maker, as well as the emerging young sire Karakontie (Jpn).

“Two decades of selling at the highest level of the stallion market was a rare experience, but as Gainesway expanded their bloodstock sales agency, I worked on the farm consignment and

started helping our outside clients with everything they needed to be successful at the sales. We enjoyed a lot of success,” said Hernon.

“Before Michael took over, we were breeding for the top of the market, but not always succeeding at the sales,” said Waymore LLC’s Tom Conway. “He put us on the right track, from sales prep to setting reserves, and suddenly we were on fire with two yearlings selling for $800,000 and another for $700,000. We became fast friends and last year I was proud to attend when Michael became a U.S. Citizen.”

Additionally, Hernon is the co-breeder of champion 3-year-old filly Monomoy Girl, winner of the GI Kentucky Oaks and

GI Breeders Cup Distaff. From a small broodmare band, Hernon also co-bred two-time Grade I-winner Zazu, and graded-stakes winner Flashback, sire of champion British Idiom. This year in the U.S., he co-owns stakes-winning 2-year-old Spanish Loveaffair and while in his native Ireland, Hernon campaigned group-placed juvenile Sussex Garden. Prior to his tenure at Gainesway, Hernon served stints at Pedigree Associates, Fasig-Tipton and Walnut Green.

“I feel everything I have done in this industry has brought me to this new position. Helping people find the right horses and succeed in sales and racing is very satisfying. I look forward to

operating as a bloodstock agent and attending Thoroughbred racing and sales both in the U.S. and in Europe,” Hernon said.

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