Few in our community knows all this better than Craig Bandoroff. His whole life has turned on fleeting episodes of good and bad luck, from the terrible spill that ended his career as a jockey to the serendipitous encounters at university-with a professor from another program, for instance, who reconciled him to a changed relationship with horses; and, above all, with his future wife-that ultimately adapted his gifts to the foundation of Denali Stud. At the same time, Bandoroff and his wife Holly have had many years to think about and plan for the transfer of responsibility for the business they built from scratch to their son Conrad.

As has quickly become apparent in this series, there's seldom a formal and specific moment of transition. But for the past couple of years Bandoroff has progressively backed into semi-retirement, with the combined benefit of expert counsel and his own reflection.

“I think the one thing I've learned in the process is that there's a reason a lot of successions don't work out,” he says. “And the reason is…because it's really hard to do! You need the right balance on both sides. The father has to be of the right mindset. And the son or daughter a) has to be capable; and b) has to be given the time to come into the position and become ready to take over. It's like a relay race. When you're starting out, the successor is the one waiting in the block. And eventually you get there and hand on the baton, and first they're one step away, then they're 10 steps away, and then they're gone.”

In the meantime, however, there's that critical moment when you might easily drop the baton and, to avoid that, for a few strides you both have to be flat out and in step.

“Exactly,” agrees Bandoroff. “Now we did hire a family consultant, to help us through it, and that was invaluable. But at the end of the day you have to do it your way because everybody's different, and every successor is different. So you just figure out the balance. But there are some real caveats. Really everybody says the same thing: at some point you have to give up the control, you can't hover over them. And the ones that don't make it are the fathers that didn't get out of the way, that just wouldn't vacate.”

Bandoroff didn't really have that problem, in that he was positively eager to gear down.

“What happened with me I've learned to be very common,” he says. “You just hit a wall. I was doing it all myself, there are a lot of moving parts, and you just reach the point where you say, 'Man, I'm not 40 anymore, I just can't keep going at the same pace.'”

Again, they were lucky in that Conrad had long manifested both desire and eligibility to take the legacy forward. Neither of those, of course, are ever guaranteed. Neither of Conrad's sisters had ever evinced any interest, instead discovering vocations that put the horse business in due perspective. One, for instance, is nursing at the prestigious Cincinnati Children's Hospital.

“Like I say: we sell horses, she saves lives,” Bandoroff says proudly. “And the other daughter works in government policy for an investment bank, really keeping track of the political stream. We joke that the girls obviously got the brains. But they didn't get the horse gene, and Conrad definitely did.”

And what if he hadn't?

“I guess then you just sell, you take the money and move on,” Bandoroff says with a shrug. “And, in all honesty, that's pretty much what I always expected to happen. But at a pretty early age Conrad showed that this was the direction he wanted to go. And after urging, pleading, begging him to do something else, once we made the commitment to him, it was, 'Okay, if you want to do this, then let's see if you can jump through all the hoops.”

Craig and Conrad Bandoroff | Keeneland

Over the years Bandoroff has seen plenty of people fail to meet this kind of challenge, and he put corresponding groundwork into the succession.

“I took it on with a sense that I had to do this right,” he says. “I was dealing with something that took Holly and me 30-plus years to build. That's a lot of sweat equity. And I'm dealing with my son. So we set out on a plan to give him the tools we thought he'd need to be successful. And he embraced everything we ever suggested.”

Both father and son acknowledge a huge debt to the Godolphin Flying Start program, which broadened Conrad's horizons so generously. Even those raised to the best standards at home can only benefit from seeing how other horsemen, in other environments, meet the universal challenges of the Thoroughbred. And Bandoroff, for his own part, not only consulted esteemed peers to borrow lessons learned in parallel situations; he even took a course at Harvard that included a module on succession and family business.

“Thirty years might not be nearly as long as some, but it's still a long time, especially when you've started from ground zero,” he says. “I think if you make the judgment that the successor is not capable, then you need a Plan B. But in our case I saw very clearly that the successor had all the tools. That doesn't mean it's easy. And of course you can think that, and then it doesn't happen. But in this case I feel it's happening. I see it.”

So how about those moments, in the transition, when there were the inevitable disagreements? You've renounced control, but this could be some question of strategy vital to the future of a business that involves everybody in the clan.

“Honestly, or maybe remarkably, Conrad and I have had very few lock-horn moments,” Bandoroff says. “But, yes, that's where you say to yourself, 'Look, I can't screw this up. Because if I do, not only am I screwing up the business that we built, but I'm screwing up my family.' I was never one to sit there and say, 'Oh gosh, look what I did and how wonderful it is.' But you want to keep this thing going. Which is harder: to build the business, or to keep it up there? And the answer is that both are hard. No question, whether it's Conrad or Walker Hancock or Bret Jones, they definitely had a big head start-but it's still really hard.”

The privileges of succession certainly come with commensurate burdens. The clients who lose their favorite mare, for instance: that call is now Conrad's to make.

“Yes it is!” Bandoroff exclaims with relief. “After a storm last year, we had a real bad call that had to be made. And I just sat there and said to myself, 'Well, I'm glad I don't have to pick up that phone.' I still have clients I'm closely involved with. But I've told Conrad, 'Look, you have to be the rainmaker now. I never enjoyed that part of it and I'm not going to do it anymore.' And he gets that. But that's where the pressure comes.

“Every once in a while there'll be something where you say to yourself, 'Hey, this is going to be a bumpy landing.' There was one time I could see from a distance it probably wasn't going to end well. But I made some big mistakes along the way, that cost me a lot, and I know that you don't forget those. The good news is that you're only ever a phone call away. There's going to be a day, hopefully quite a few years from now, where you're not. But at this stage I think we just try not to let the boat drift too far off course at any point. You're never going to let it crash, obviously. But in the end it's going to be harder for them to learn from mistakes, if you're not going to let them make any.”

All that said, when your life and your work have so long been conflated, you can't just sever yourself from decades of routine overnight. Bandoroff still starts every day with TDN, albeit nowadays a winter sanctuary in Bald Head Island, N.C., is embraced with a clearer conscience.

The Bandoroff men at Keeneland November | Keeneland

“At first, this word 'retirement' is out there like some panacea or some oasis in the desert,” he says. “And then you get there and, well, there's lots that's great, but you also realize how some of the stuff you're leaving behind is really important to you, too. So what makes handing off nice is that I had the opportunity to say, 'Look, I still do want to be involved in certain things and not in others.' I get to do what I want to do, when I want to do it; or what I have to do, when I have to do it. The good part is when the 'have to' is over, I go back to the 'want to' and that's the whole key. But as opposed to a CEO who retires from some company and it's over, I was able to do it on my terms. And that's working out great. That's still being able to go into the ring and buy a mare that could down the line maybe become a foundation type for us.”

Certainly Bandoroff is at pains to keep looking forward, and not to dwell on his own past, remarkable as it has been.

“Look, I think everybody knows the story about how my arm was paralyzed,” he says. “And yeah, there were a couple of years after that happened, it was a tough road and a long one. And thank God I had family to support me and help me get through it. And then by happenstance, at the University of Virginia I met this couple who had a farm and hunters and went out to visit them one day. And they said, 'Oh, come on, why don't you get on a horse?' And I did. That gene had gone dormant, but they got it reignited and then it all went in a different direction. And it's a crazy thing to say, but maybe it was the best thing that ever happened to me.”

Having glimpsed a path, he came to Kentucky for direction. His first mentor here was the “awesome” Fred Seitz; and then the man who was transforming the whole business, Lee Eaton. On top of that, it was transferring to college here that had enabled him to meet Holly.

“I always said that for me it was love at first sight, it just took her a little longer to be convinced,” he says with a grin. “If you don't like Holly, you don't like human beings. She's one of those angels without wings. But once we started our own operation, she had to learn the horse business or she was going to be a very lonely woman. Because it is all-consuming: not a lifestyle, but a life. So Holly embraced that, and became integral to everything that we were able to do. I can tell you, without Holly, there wouldn't have been a Denali Stud to hand off because I would just have just pissed somebody off and that would have been the end of it!”

Apart from anything else, of course, Holly has been a priceless pivot between her husband and son during this whole process of transition; and, moreover, she never let them forget that Conrad also has sisters.

“And rightly so,” Bandoroff says. “Conrad and I spend a lot of time together, do a lot of things together, but his sisters obviously have to be part of the equation. And we're very fortunate that the accountant that set it all up did so in such a way that everybody in the family was tied to the success of Denali Stud.”

One way or another, then, that split-second of disaster at Garden State Park in 1974 ultimately opened the door to a whole new life. Bandoroff impatiently dismisses pointless retrospection. What would have happened, had he renounced horses as intended when going to the University of Virginia? Or, before that, how far might he have gone as a jockey but for what happened?

“Who knows? Who cares, right?” he says with a shrug. “People said I had talent and, looking at the pictures, I look pretty good on a horse. Doesn't matter. Look, it's a good story and it turned out good.

“I'm not going to be arrogant and say we have pulled this off, but I will say that I couldn't be happier with where we are. Conrad has grown into the role as the leader of the company in every way I could hope. That gives me a sense of pride I can't really describe.”

That was enhanced by a note Bandoroff received from one of the great achievers of the global business, remarking that Conrad had clearly inherited his values.

“It's always been really important to me to raise horses in the manner that they have a chance to go on and be good horses,” he reflects. “And I think when people think of us, they associate us with quality. We've always wanted a person to walk up to that barn and say, 'I really like this horse-and these people have sold good horses before.'”

Bandoroff feels that our walk of life makes a rather better job of succession than most others.

“The statistics tell you that in the 'real' world a large percentage fail,” he says. “I think the success rate in our cottage population is very high. I think what makes it different, for us, is the land. There's something about both the land and the horse that's a little different from inheriting machines that push out widgets.

“One of the real joys now is that we can both be at the barn and, instead of somebody coming up to me, they go up to Conrad. Maybe for some people that would hurt their feelings. But, to me, it's the greatest feeling in the world. It took a long time to get to that spot.

“Conrad started with me eight years ago, which is honestly hard to believe. In many ways, he has the baton now and he's moving farther away on his own. I feel like he and Claire are the faces of Denali Stud now. It's their company. As I look out at the ocean, that's a wonderful thing to be able to say.”

The post ‘Succession’ Presented by Neuman Equine Insurance: Craig Bandoroff, Denali Stud appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

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FLAG DAY (8, Giant's Causeway–Sense  to Compete, by Street Sense) to be bred to Good Magic.

This mare's first foal, Hall of Fame, broke his maiden in very impressive fashion and was tabbed a 'TDN Rising Star' for his effort. The son of Gun Runner and Flag Day's first foal has been a special horse from the day he was born. He was just one of those foals that, when they stand for the first time, you find yourself saying, “We might have something here.” He was nice from day one and turned into a $1.4-million Saratoga yearling.

Flag Day is a fourth-generation homebred for Ambassador Earle Mack. She is a big, scopey daughter of Giant's Causeway that imparts a lot of size, bone and leg into her foals. This year she goes to a stallion that is rapidly rising through the ranks and looks to be a force to be reckoned with for years to come in Good Magic. I love the balance and athleticism Good Magic imparts in his progeny and this is a mating that works really well physically with the mare. The Smart Strike-Giant's Causeway cross is a good one, producing the likes of Grade I-winning Tom's d'Etat.

FLOWERING PEACH (8, Galileo {Ire}–Naples Bay, by Giant's Causeway) to be bred to Justify.

This is a young mare that has gotten off to a great start in her broodmare career. Her first foal, Buchu (Justify), won the GII Jessamine S. at two and we hope she will have a big year for owner/breeder Richard Rigney and trainer Phil Bauer.

Flowering Peach has an Uncle Mo yearling colt this year that we like a lot. This was as easy a mating as it comes and unsurprisingly Flowering Peach returns to Justify this year–the magic Justify/Galileo cross! Justify's two Breeders' Cup-winning 2-year-olds, as well as City of Troy in Europe and Storm Boy in Australia, capitalized his sensational run and what an important stallion he looks to be.

 LIAM'S PROMENADE (5, Liam's Map–Promenade Girl, by Carson City) to be bred to Nyquist.

Liam's Promenade is a young mare that we have high hopes for. She is a half-sister to the MGISW Cavorting (Bernardini), who is the dam of over $3 million-earning MGISW Clairiere (Curlin). She is currently in foal to Curlin and we cannot wait to see the foal that is produced as it is a cross that has proven to be so prolific in the family.

We have chosen to breed her to Nyquist, who we think was tremendous value this year. Nyquist was on a tear at the end of the year and has some seriously talented horses working for him for this year. He has a loaded pipeline and a lot of momentum behind him. It is a cross that has worked well in the family before, producing GII Penn Mile S. winner Moon Colony (Uncle Mo).

HARD NOT TO LIKE (15, Hard Spun–Like a Gem, by Tactical Cat) to be bred to Cody's Wish.

Hard Not to Like is awaiting the arrival of a Life Is Good foal any day now–a mating that we highlighted last year. The multiple Grade I-winning mare will visit Cody's Wish this year. Hard Not to Like's 4-year-old son Faustin (Curlin) has returned to the worktab for Bob Baffert and Michael Lund Peterson. He was second in the GII San Vincente S. and we hope to see him back competing at the graded stakes level this year.

Cody's Wish is a horse we are so excited to breed to for many reasons, but he just pulls on your heartstrings in so many ways with his fantastic, fairytale-esque story. He also happens to be a very good physical match for Hard Not to Like, who benefits from some size and scope which Cody should provide. It repeats the Curlin cross that produced Faustin as well as the Curlin-Hard Spun cross that is responsible for the likes of Good Magic. We also love that it inbreeds back to Ruby Slippers (Nijinsky II) deeper in the pedigree.

PLAYED HARD (6, Into Mischief–Well Lived, by Tiznow) to be bred to Gun Runner.

We are very excited to welcome Played Hard to Denali Stud to begin the next chapter of her career. It was an incredible Oaks Day watching her hold off Secret Oath (Arrogate) to win the GI La Troienne S. and become the first Grade I winner for trainer Phil Bauer in the Rigney Racing colors.

Played Hard is a gorgeous mare with a deep family. She has all the credentials to become a foundation mare. We will start her off strongly by sending her to Gun Runner. It's a great physical match and we love the pedigree blend. Gun Runner over Storm Cat-line mares has proven to be one of his most productive crosses. Gun Runner over Tiznow has produced the likes of Early Voting, and you also have MGISW Cyberknife under the second dam.

LOVE THEWAY YOUARE (16, Arch–Diversa, by Tabasco Cat) to be bred to Elite Power.

Love Theway Youare is a Grade I-winning, graded-stakes producing mare that we own with our good friend Lincoln Collins. This mating goes by the old adage of breed your proven mare to an unproven stallion and your unproven mare to a proven stallion. Love Theway Youare is the dam of Grade III winner Summer in Saratoga (Hard Spun). She is a big, pretty Arch mare who throws nice, leggy, good-looking foals. She goes to one of the most visually impressive stallions retiring to stud this year in Elite Power. He looks like what a $900,000 yearling should look like and we thought that at $50,000, he still was one of the best values in town for this year.

DREAM TREE (9, Uncle Mo–Afleet Maggi, by Afleet Alex) to be bred to Constitution.

Dream Tree is a young, Grade I-winning mare that we have high hopes for. Her first three foals have been striking individuals that have all looked the part. Her newly turned 3-year-old first foal, Wimberly (Curlin), was a $700,000 yearling purchase by David Ingordo and is in training with John Sadler out in California. Her 2-year-old son of Into Mischief is doing very well in his early paces at Payton Training Center in Ocala, and she has a very promising Gun Runner yearling filly that has been nice since day one.

Dream Tree will go to a stallion we are big believers in: Constitution. We think you will be reading his name a lot this year and he is currently represented by three colts in the TDN's Top 12 Derby List. Tapit over Indian Charlie is the cross that produced generational talent Flightline.

NICKEL (11, Unbridled's Song–Consider It Done, by Green Dancer) to be bred to Twirling Candy.

This mare is a favorite of ours–I know we aren't supposed to say that but she is just one of those mares that you have a soft spot for. She is a gorgeous Unbridled's Song mare and the expression black cats throw black kittens could not be more appropriate when it comes to her foals. All of them are big, pretty and athletic.

She visits Twirling Candy this year–a horse we feel is great value and such a solid, consistent, proven stallion. This is such a good cross. Candy Ride and Twirling Candy over Unbridled's Song have produced seven stakes winners including Gift Box, Leofric, and Fore Left.

Interested in sharing your own mating plans? Email garyking@thetdn.com.

The post Mating Plans, Presented by Spendthrift: Denali Stud appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

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“It was a very successful 2023 Fasig-Tipton October sale,” Fasig-Tipton President Boyd Browning, Jr. said after the last horse went through the ring Thursday evening. “The results were very similar to last year and very similar to the 2021 results, which is pretty remarkable when you consider everything that is happening in the world that we live in, from the economy to some of the challenges our industry has faced. To have 1,600 horses on offer the last four days and to be standing in the back walking ring with five horses to go and it is full of people and there is enthusiasm and activity, it shows the resiliency of our industry.”

Through four sessions, 1,064 yearlings grossed $51,120,000. The average of $48,045 dipped 4.6% from last year's record figure and the median of $24,000 was down 4.0% from another 2022 record.

The buy-back rate was 21.5%. It was 18.7% a year ago.

“The good news for all consignors is that, if you have a late-maturing horse, or a horse that has a little bit of an issue, you can bring that horse here. Can this sale support a very good horse? The answer is absolutely, positively, yes. I think this sale has established itself on the calendar as a very legit sale, one that you have to attend and participate in, whether you are a buyer or a seller. We look forward to continued growth and continued great graduates coming from this sale.”

Ocala horseman Karl Keegan made the highest bid of Thursday's final session of the auction, going to $330,000 to acquire a colt by Bolt d'Oro from the Knockgriffin Farm consignment.

Denali Stud consigned the second and third highest prices of the session, with Mike Ryan going to $310,000 for a son of Into Mischief and Jacob West going to $275,000 on behalf of Mike Repole for a daughter of Curlin.

Hip 1441, the Curlin filly bought for Mike Repole | Fasig-Tipton

The auction was a case of feast or famine, according to Denali's Conrad Bandoroff.

“When you lead a horse up here, you are in one of two positions,” Bandoroff said. “You are either coming up for a horse sale or you are coming up for a funeral. I think this market is highlighting the polarization. If you have one that is a quality individual who vets, there is a good market for it. If you have a horse that doesn't vet or doesn't have the commercial physical, it's going to be a difficult market and you've got to be realistic about it. But that could also be the definition of a fair market as well. We are having a good sale. We've been fortunate that we've had some good horses here and the good horses are selling well.”

Ryan, who purchased 10 yearlings for $2,195,000 during the auction, found plenty of competition for the yearlings he followed up to the ring.

“We were runner-up quite a bit, too,” Ryan said. “We were getting hammered. But we do feel like we got some quality at good value. It is the last stop and there are a lot of horses here. You have to look at a lot of horses to find the ones you want. But there are some nice pedigrees here. And obviously there is money here for the good ones. It's a solid sale and it's getting better every year.”

Keegan Stretches for Bolt d'Oro Colt

Looking to play at the upper echelon of the pinhooking game, Karl Keegan of Lucan Bloodstock stretched to $310,000 to acquire a colt by Bolt d'Oro (hip 1575) late in Thursday's final session of the Fasig-Tipton October sale.

Karl Keegan | Fasig-Tipton

“We are going to pinhook the horse,” Keegan said after signing the ticket on the bay colt. “It seems like all of these sales–especially the 2-year-old sales–are going to the upper end of the market, so we are trying to buy really, really good physicals by good stallions and hopefully it works out back in the springtime.”

The colt is out of Whirl (Curlin), a full-sister to graded winner Pacific Wind and a half to multiple graded winner Strike a Deal (Smart Strike). Consigned by Jim FitzGerald's Knockgriffin Farm, he was purchased for $145,000 at last year's Keeneland November sale and RNA'd for $240,000 at the Fasig-Tipton Saratoga sale in August.

“He was an outstanding physical,” Keegan said of the yearling. “He was at Saratoga and it looked like he went through a bad patch there. They took him back and gave him some time. And he really blossomed and showed himself well here. He's an exciting prospect for Lucan Bloodstock.”

Keegan admitted he had gone past his initial budget for the youngster.

“We were at $150,000 to $175,000, but my guy stretched,” Keegan said. “This was the only horse I wanted to walk away from the sale with. And my guy stood in and supported me.”

Lucan Bloodstock also purchased a colt by Tom's d'Etat (hip 1332) for $80,000 and a colt by Outwork (hip 1573) for $15,000.

Keegan said there was plenty of competition for the pinhooking prospects he was shopping for.

“It was very strong for the horses I was on,” Keegan said. “I came up here trying to buy these physicals to be in the upper echelon of the market at the 2-year-old sales. Those horses were really hard to buy.”

Ryan Strikes for Into Mischief Colt

Bloodstock agent Mike Ryan, busy all week at the Fasig-Tipton October sale, made his highest-priced purchase of the four-day auction Thursday, going to $320,000 to acquire a colt by Into Mischief (hip 1482).

Mike Ryan | Fasig-Tipton

“He's a beautifully bred horse,” Ryan said of the yearling. “He's going to be a two-turn horse. He has plenty of size and stretch and scope for an Into Mischief. He's got a serious pedigree. If he can perform on the racetrack, he's got a lot of appeal as a stallion.”

The bay colt, bred by My Meadowview and consigned by Denali Stud, is out of multiple graded stakes winner Tin Type Gal (Tapit), who is a daughter of Grade I winner Miss Shop (Deputy Minister).

“They are averaging $750,000 for the yearlings,” Ryan said of Into Mischief's knockout season at the sales this fall. “The median is $525,000. So this [final price of $320,000] is less than half the average. Of course it's the end of the year, but this horse has a lot of upside if he can perform.”

Curlin Filly to Repole

Mike Repole, who along with his partners will send champion Nest (Curlin) through the sales ring at Fasig-Tipton in a week and a half, restocked with another filly by Curlin Thursday at Newtown Paddocks when bloodstock agent Jacob West made a final bid of $275,000 to acquire hip 1441. The gray filly was consigned by Denali Stud on behalf of Stonestreet Thoroughbred Holdings.

Jacob West | Fasig-Tipton

“Mike has had a little bit of success with Curlin through the years,” West said after signing the ticket on the yearling. “It's the old saying, if it's not broke, don't fix it. She was just a beautiful filly and has the pedigree, through and through.”

The yearling is out of Tapping Pearl (Tapit), a daughter of Cat Dancer (Storm Cat) and a half-sister to Grade I winner Drill (Lawyer Ron).

West, on behalf of Repole, as well as other clients, has purchased six yearlings this week in Lexington.

“The market is incredibly harsh right now,” West said. “If you don't have the pedigree and the physical and the vetting, you get crucified. I feel bad for the breeders because I know how much work it takes to get them up to this ring. That's the unfortunate side of our business right now. It's incredibly polarizing. I don't see it changing for the foreseeable future.”

The polarized market has allowed him to find some bargains this week, West agreed.

“The first day of the sale, we bought a Quality Road filly for $3,000 and we bought a Gun Runner colt for $42,000,” he said. “They were just horses that the market didn't perceive to be what they wanted and they fell through the cracks. We had done our homework and due diligence and picked them up.

“The Quality Road filly had some significant vet issues, but $3,000 for a Quality Road filly, you're going to take a chance. The Gun Runner colt was just a backward horse. He didn't have the physical that everyone was looking for here. But for all of Mike's purposes, he will be patient on a horse like that, let him grow up and fill out. If he goes on and wins a big race, everybody will say, 'How the hell did they buy him for $42,000?' If you are willing to sacrifice on one of those things, you can find some bargains here.”

West concluded, “I'd say there are going to be some really good runners that come out of this sale. There are every year. It doesn't always have to be the sale topper that you land on.”

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A common refrain from consignors heading into the one-session auction was timeliness, as the sale's place on the calendar puts it right in front of a busy summer of racing, both regionally and at boutique meets on both coasts at Saratoga and Del Mar.

“I think this sale is an extremely useful sale on the calendar because of the timing,” said Conrad Bandoroff of Denali Stud, which will offer 11 horses Monday afternoon. “It gives both buyers and sellers the option to bring in-form horses to the market and to really help to satisfy the demand for horses that have form and are running well. It is also potentially an avenue for horses that don't quite fit that mold–horses that need to be moved on and go to maybe a more regional or a softer circuit.”

The Seitz family's Brookdale Sales has been represented at every July Horses of Racing Age sale since its inaugural edition in 2013 and the consignment returns with 14 head on offer this year.

“It's a great outlet for people,” said Joe Seitz. “It is like two worlds coming together with people maybe offloading a horse that is still very raceable  and that gives people the opportunity to take advantage of this regional circuit which is so hot right now. It's a great opportunity for buying and selling.”

The horses of racing age sale can provide buyers with immediate access to success on the track.

“It's about as turnkey as you can get,” Seitz said. “When you bring a horse out here that is fit and has good form and with all the X-rays and physical information someone might need when they are trying to pick out a horse, what you're doing is presenting them something they can turn around with immediately and try to have some fun with, especially with these purses.”

Nowhere in the catalogue is that current form more noticeable than in the last offering in the catalogue, Crypto Mo (Mohaymen) (hip 645). Consigned by Taylor Made Sales Agency, the 3-year-old filly captured the GIII Iowa Oaks Saturday and comes into the auction on a three-race win streak.

“Crypto Mo is a very exciting addition to the catalogue,” said Fasig-Tipton President Boyd Browning. “She is a ready-to-go graded stakes-winning 3-year-old filly with a lot of racing opportunities ahead of her. She has a similar profile to Stiletto Boy, who came into this sale off a win in the Iowa Derby a couple years back and is now a Grade I winner of $1.8 million.”

Stilleto Boy (Shackleford) sold for $420,000 at the 2021 July Horses of Racing Age sale and went on to capture this year's GI Santa Anita H. and has hit the board in five additional Grade I races.

John Ennis has made a habit of bringing in-form juveniles to the July Horses of Racing Age sale. The trainer topped the 2020 auction with County Final (Oxbow), who came into the auction off a runner-up effort in the GIII Bashford Manor S. and sold for $475,000. Ennis brings five juveniles into the 2023 auction and all are coming off maiden special weight victories.

“I usually bring 2-year-olds with form that are pretty commercial to the buyer,” Ennis said. “And the timing is great. Being in July, they can take them anywhere, Saratoga or Del Mar.”

Buying inexpensive yearlings and getting them success on the racetrack before re-offering them in July provides clients with the thrill of racing and potential profit in the sales ring, according to Ennis.

“It's enjoyable to the owners to get to go racing and hopefully be in the winner's circle and then come to the sale and hopefully make a profit,” Ennis said. “Everybody is looking for horses at the moment, so the timing is perfect. All of the horses have been really well-received so far and all of the right people have come to see them.”

Monday's Horses of Racing Age sale will be followed by the Fasig-Tipton July Sale of Selected Yearlings, which will be held Tuesday beginning at 10 a.m.

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LIAM'S PROMENADE (m, 4, Liam's Map – Promenade Girl, by Carson City) to be bred to Curlin

We just purchased this mare with some partners in the January Sale and are very excited to have her. She hails from the family of MGISW Cavorting (Bernardini), who has of course produced MGISW Clairiere (Curlin). She is an attractive mare with a lot of quality and will suit Curlin quite well. It has worked in the family before!

HARD NOT TO LIKE (m, 14, Hard Spun – Like a Gem, by Tactical Cat) to be bred to Life Is Good

A multiple Grade I winner, this is a mare that we have always believed in. Her newly-turned 3-year-old colt Faustin (Curlin) was named a 'TDN Rising Star' after winning on debut sprinting. He has a ways to go, but looks like he could be a proper Saturday Afternoon Horse.

I have always wanted to breed her to the Into Mischief line and Life Is Good is a perfect physical match for her. She is a strong, powerful mare and needs a bit of size and scope from the stallion. This is the same cross that produced GSW Gerrymander (Into Mischief).

LADY APPLE (m, 7, Curlin – Miss Mary Apples, by Clever Trick) to be bred to Gun Runner

Last year Lady Apple delivered her first foal, a filly by Quality Road, that we like a lot. She's everything you look for in a first foal– good leg, and nice strength and substance to her. She is carrying and will soon foal an Into Mischief, so she is getting started with every chance. She is a multiple graded stakes winner who placed in the GI Kentucky Oaks. Her pedigree continues to blossom under Larry Doyle of KatieRich's management with her newly-turned 3-year-old half-sister American Apple (American Pharoah), a graded stakes winner at two.

Gun Runner needs no introduction and you just have to consider yourself fortunate to have a mare that can warrants a visit to him. This could get you a serious racehorse.

Dream Tree's Into Mischief yearling colt | Patrycja Szpyra

DREAM TREE (m, 8, Uncle Mo – Afleet Maggi, by Afleet Alex) to be bred to Flightline

The winner of the GI Starlet S. at two, Dream Tree is off to a good start in her broodmare career. Her first foal, a Curlin filly, sold for $700,000 to David Ingordo at last year's Keeneland September Sale. She has a highly promising Into Mischief yearling colt and is expecting a Gun Runner for this year. She is a beautiful, powerful mare.

This is a mating we are very excited about. Tapit has done very well over Indian Charlie-line mares. Flightline himself is a prime example. We are intrigued by this 3×3 to Indian Charlie and think it could produce a tremendous amount of speed. A generational talent in Flightline paired with a fast, precocious mare–a promising and potent mix, we hope!

PATHETIQUE (m, 5, Uncle Mo – Dothraki Queen, by Pure Prize) to be bred to Into Mischief

She is an Uncle Mo daughter of GII Pocahontas S. winner and GI Breeders' Cup Juvenile Fillies-placed Dothraki Queen. Pathetique herself had a ton of ability. She broke her maiden second time out at Saratoga for owner Richard Rigney and trainer Phil Bauer and was a stakes-caliber filly, but unfortunately got hurt. She was fast. Really fast.

We decided to breed her to Into Mischief because we think this could produce a freaky fast horse.

STOP SHOPPIN TAMMY (m, 6, Tapit – Miss Shop, by Deputy Minister) to be bred to Curlin

This is a daughter of Tapit that we have high hopes for. She is out of Grade I winner Miss Shop and is a full-sister to the graded stakes-winning Tin Type Gal. She is a gorgeous mare that physically suits Curlin really well. On paper, it is highly productive cross and is responsible for MGISW Cody's Wish (Curlin), not to mention that it goes back to A.P. Indy, which has been the magic Curlin cross.

WINE PRINCESS (m, 14, Ghostzapper – Azeri, by Jade Hunter) to be bred to Constitution

She is a Grade II and Grade III stakes winner by a Horse of the Year and out of a Horse of the Year. Now 14, what we like about her is that four of her five foals of racing age have made it to the races, won in New York, showed promise, have been sound and have earned over $100,000.

We still feel she can produce a good horse. Her 4-year-old Smokin' T (War Front) has shown signs of being one and is stakes placed. He's due to start what we hope will be a good campaign this year.

We rate Constitution as an emerging top stallion. We really like the momentum that he has in some really well-bred crops in the waves. We chose Constitution because Ashiham and Felix the Fox, her two sons by Tapit, had talent and we wanted to send her back to the Tapit line.

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That dispersal, of which the first nine racing or broodmare prospects sell Monday at Keeneland, totals 43 entered at the Keeneland January sale sold under the Denali Stud banner.

Massachusetts natives, Generazio and her husband Frank got their racing start in New England, where Frank ran the family owned New England Sand and Gravel Company. He fell in love with Thoroughbred racing and was very involved in the sport for 50 years, serving as the president of the New England HBPA for almost a decade, and training his own horses for a time. In New England, the Generazios campaigned the graded stakes winner Concorde Bound. In later years, they moved their string to New York, New Jersey and Florida, racing horses with trainer Christophe Clement, among others. Trainer Mary Hartman campaigned their multiple Grade I winner Presious Passion, who ran over a remarkable eight seasons, earning over $2.5 million. They also campaigned graded stakes winners Disco Partner, Pure Sensation and Discreet Marq. Frank Generazio died in November, 2020, at the age of 91.

“Patricia and Frank have had tremendous success in the game,” said Bandoroff. “They enjoyed it thoroughly for many years, and there are generations of families that they've cultivated. But she has gotten to a point where I think the operation has grown to be almost overwhelming, and she felt that it was perhaps the right time to close it down. She had accumulated a lot of horses and I think from her perspective, it was the right time to kind of say, `okay, let's wrap this up.'”

Among those on offer Monday is the 5-year-old mare Mischievous Dream (Into Mischief), who sells as hip 98 as a racing or broodmare prospect. “She won the Sorority S. at Monmouth at two, and was stakes-placed at three,” said Bandoroff. “She won on debut for the Clements in Saratoga. She is just coming off her career-best Beyer in a race at the end of October up in New York and she's a big, pretty filly, very attractive, very clean-legged, and vets well. She's got a nice broodmare pedigree underneath her with her stakes performances, but has some run left if someone wanted to keep going with her.”

Denali will also offer Pure Bode (Bodemeister) on their behalf, a 6-year-old broodmare prospect who sells as hip 147.

“She has been very productive on the track,” said Bandoroff. “She is a hard-knocking filly who has won $180,000 and is a half to their multiple-graded stakes winner Pure Sensation (Zensational), from their broodmare Pure Disco. She comes from one of these multi-generational Generazio families. She really exemplifies what their program has been: these hard-knocking mares, really limited opportunities in terms of the stud fees and the stallions they've been bred to, but tremendous success getting the results on the racetrack and producing high-quality graded stakes horses.”

The genesis of the dispersal started with the idea of selling a few broodmares, but soon blossomed into the entire operation. “We have sold some horses that she had in training with the Clements and Christophe and Miguel have always been good friends of ours, and they're the ones who made the introduction,” Bandoroff said. “The dispersal started with three racing or broodmare prospects that the Clements had for Mrs .Generazio that we entered and then Mrs. Generazio said, `actually, you know, I think I want to sell everything.'”

In addition to Mischievous Dream and Pure Bode, more than 40 others will be offered over the course of the rest of the sale, and several more at Fasig-Tipton February.

Bandoroff said that dissolution of a life's work was a responsibility he didn't take lightly.

“It's something we take very seriously, because it encompassed a good portion of a lifetime, of cultivating these families,” he said. “Mrs. Generazio was very involved in mating the mares and she deserves a lot of credit for the success that the program has had. I think that it is certainly going to be hard for her over the next couple of days to watch some of these horses be sold, but that's the cycle of life, isn't it? But there are going to be plenty of opportunities from people who respect the program the Generazios put together over the years and recognize that they have done well.”

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Among the horses that will be sold are racing/broodmare prospects SW Mischievous Dream (Into Mischief), Pure Bode (Bodemeister), and Marquet Legacy (Gio Ponti), all from the families of some of the most popular graded winners developed by the Generazio operation. Among the horses campaigned by Generazio and her late husband, Frank, are GISWs Presious Passion (Royal Anthem) and Discreet Marq (Discreet Cat), as well as MGSWs Pure Sensation (Zensational) and Disco Partner (Disco Rico). The latter three were all homebreds. The Generazio operation has tallied over $32 million in earnings and was awarded the Lifetime Achievement Award for excellence in the New York-bred program in 2020.

“We are grateful that Mrs. Generazio has entrusted us to handle this dispersal,” said Denali's Conrad Bandoroff. “For buyers, this is an incredibly exciting opportunity to tap into these black-type families that have never been offered at auction.”

Christophe Clement, who has trained for Generazio for the last decade, added: “The quality of their program is in the strength of their mares and their ability to produce high-caliber racehorses with limited opportunity in terms of the stallions that they were bred to. You can really see this with how many successful homebreds they have campaigned over the years. What they've accomplished is extraordinary.”

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“Wicked Whisper has every ingredient to be a foundation mare for somebody,” said Conrad Bandoroff, whose Denali Stud will consign the 5-year-old. “There are no limits to what her offspring could achieve. She has so many traits that we feel not only American buyers, but also an international audience, will appreciate.”

A $500,000 yearling purchase for Alex and JoAnn Lieblong, Wicked Whisper was the priciest yearling to sell from the first crop of Liam's Map. Bandoroff said her physical is just as stunning today.

“Wicked Whisper is drop dead gorgeous,” he said. “She's big, she's pretty and she has an unbelievable shoulder and a great hind leg. Alex buys tremendous physicals and this has been a special filly for them.”

The Steve Asmussen trainee followed her Rising Star-worthy debut with a win in the GI Frizette S., where she established control early and made easy work of the one-mile contest to win by almost three lengths over future MGSW Frank's Rockette (Into Mischief).

“It was a commanding performance,” Bandoroff said. “I think that 2-year-old form and that level of precocity is rare and it's a great quality when you're looking at a broodmare prospect. So many good mares showed ability and precocity at two. She looked like a winner throughout that race and she carried that confidence into a lot of her races.”

Wicked Whisper continued to excel at three, taking the GIII Miss Preakness S. and running second in the GIII Charles Town Oaks.

Meanwhile her half-sister Point of Honor (Curlin) was building up her own resume, winning the 2019 GII Black-Eyed Susan S. at three and placing in a trio of Grade I starts in 2020.

Their dam Zayanna, a daughter of successful broodmare sire Bernardini, is a half-sister to three graded stakes winners. Zayanna has produced four stakes performers in total including Velvet Mood (Lonhro {Aus}), who was a stakes winner at two, sold for $1 million in 2020 and now has two foals on her own produce record.

Fasig-Tipton's Boyd Browning said he believes that Wicked Whisper's young family has all the potential to become even more active.

“The depth of her pedigree is sensational,” Browning said. “She has some high-quality sisters that are producing and will be producing for many, many years. So you have this pedigree that is really strong and really deep, but it has the opportunity to explode and expand exponentially over the next decade as well.”

Bandoroff explained that after Wicked Whisper retired from racing last year, the Denali team put their heads together with the Lieblongs to decide on her first mating. It was an easy consensuses when they landed on Curlin.  The mating replicates the cross that produced Wicked Whisper's Curlin sister Point of Honor.

“We thought it was a perfect mating to get a Grade I-winning mare like Wicked Whisper started,” he said. “Curlin is having arguably his best year ever with the likes of Clairiere, Nest and Malathaat. The cross that we've replicated with Wicked Whisper and Curlin is a similar cross to GISW Clairiere (Curlin), who is out of the Bernardini mare Cavorting. Not only has this cross worked directly in the family with Point of Honor, but it's a cross that has proven to be gold time and time again.”

Wicked Whisper will sells as Hip 253 at the Fasig-Tipton Night of the Stars Sale. Bandoroff said he expects the young mare to be popular as buyers are scouting out broodmare prospects.

“I think Wicked Whisper has a very wide and varying appeal,” he noted. “If you're shopping for top-quality, high-end mares, she has to be on your list.”

“To me it's the complete package,” added Browning. “She's a young, Grade I winner in foal to the leading sire of Grade I stakes winners this year in Curlin, plus she's a beautiful physical and has an unbelievable pedigree. I think she gives you the opportunity, based on her 2-year-old ability, to dream early. But also based on her pedigree and the way she is bred, she gives you the opportunity to dream big in terms of being able to compete successfully at Classic-type distances. She has all the attributes to be a game changer from a broodmare perspective.”

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A colt by Army Mule brought the second-highest price of $200,000 from Manfred and Penny Conrad, the owners of champion female sprinter Shamrock Rose (First Dude). Hip 3152 was consigned by Denali stud on behalf of Ontario breeder Yvonne Schwabe.

“This colt was a very nice profiled horse and good mover,” said Denali's Conrad Bandoroff. “He came in and showed himself well. He is owned by a dear friend and client in Yvonne Schwabe and we are thrilled for her to get this kind of result. It's always great to have a session topper and even better when you can do it for a really nice person”

The session totals remained on par with last year with 329 head bringing $12,969,000 Wednesday with an average of $39,419 and median of $30,000. The median is equal to the same session last year and average less than 1% higher than the 2021 average of $39,783. During last term's Book 5 opener 325 yearlings grossed $12,929,500. The RNA rates were also pretty equal at 9.2% last year and 9.8% this term.

The cumulative numbers were up with 2180 yearlings selling thus far for $389,605,000 compared to last year when 2125 youngsters brought $339,691,500. Average increased 11.8% from $159,855 to $178,718 and median was up 11.1% from $90,000 to $100,000. The RNA rate was down slightly from 21.2% to 20.18%.

“I think the trade today still remains competitive,” Bandoroff said. “If you came in here with realistic expectations and a willingness to set a reasonable reserve and put your horse on the market, there was a lot of turnover. We had a very good clearance rate today. It is great to see the back ring full and people having an appetite to try and buy horses.”

Gainesway was Wednesday's leading seller by gross with 23 yearlings bringing $1.166 million. Grassroots Training & Sales led all buyers, taking home 10 head for $375,000. Meanwhile, Kantharos led all sires for the session with 11 of his offspring summoning $472,500.

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The Saratoga Sale is known for offering some of the country's top yearlings, many of whom have quite the star-studded pedigrees. The 2022 catalogue, which features 216 yearlings, is no exception.

“It's just a fantastic collection of yearlings, both in terms of pedigree and the physical conformation,” Fasig-Tipton President Boyd Browning said. “We were excited all spring when we were going to the farms with the interest and the enthusiasm we were getting from folks with top quality yearlings. I think it's just as exciting of a group of yearlings that we've ever had the opportunity to offer. It's truly is a special catalogue and we couldn't be any more excited or optimistic about the 2022 Saratoga edition.”

The Saratoga Sale is just the second yearling auction of the season, following Fasig-Tipton's July Sale in Lexington. The July Sale featured a very strong market, giving sellers plenty to be optimistic about heading into this premier boutique auction.

“I think there's always a little bit of, you know, anticipation, anxiety, hesitation to see what the markets going to be,” Browning said. “July starts the yearling sales and we've seen a little bit of change in the worldwide economy. There's been a little bit of downturn in the financial markets and there was a little concern, but it was really encouraging to see positive signs in terms of the statistical performance of the sale. But even more than the statistical performance, was just the level of interest and the activity that took place before the sale and on the sales grounds. I think that we've seen strong, strong interest pre-sale here for the Saratoga Sale and I expect a very healthy market.”

Gainesway sold the topper at last month's July Sale and were also responsible for the sale-topper at Saratoga last year, an Into Mischief colt out of GI Test S. winner Paola Queen. They offer that colt's full-sister here this year. The operation's General Manager Brian Graves agreed with Browning's thoughts on the momentum from the July Sale carrying into Saratoga.   “The first sale of the year, July, was a really good sale,” Graves said. “Averages were up and medians were up. There was competition for all of the horses. I think the economy has improved since then. I don't see any reason this won't carry the momentum. The quality horses are here. I feel very good about our group. I am confident it will be a good sale.”

With one of the world's top race meets being held right across the street from the Humphrey S. Finney Pavilion, it makes Saratoga the ideal place to sell horses.

“There's always a lot of excitement and anticipation when we when we come up to Saratoga,” said Denali Stud's Conrad Bandoroff. “We've been very fortunate to catch some great results up here and have clients that give us some very nice horses to sell. We always target a couple of what we think are some of our nicest yearlings from the farm to come up here. It's just a great environment to sell horses.”

He continued, “It's a world-class race meet and a world-class boutique sale. The buyers and owners are up here. People just love to buy a nice yearling in Saratoga. We're very, very lucky that we have one of the best show areas on the ground, where our horses can really present themselves and showcase their best physical attributes. We call it the Saratoga magic. It can work the right way and the stars align and it can just be a really magical place to sell horses.”

Graves expressed similar sentiments, saying, “It feels energetic. It looks like all the usual buyers are here and even a few new ones. There is plenty of activity. Being centered around one of the best race meets in the world in a small town, the environment gets pretty electric during these night sessions.”

While Gainesway and Denali are familiar faces at the Saratoga Sale, Jill Gordon and Jacob West's Highgate Sales, which debuted at Fasig's February Sale, hangs its shingle up at the Spa for the first time.

“Saratoga is a sale both buyers and sellers look forward to each year and naturally has great energy,” Gordon said. “Bringing a draft here was one of our first short term goals when we launched Highgate earlier this year and we are grateful to our clients supporting us with two quality offerings. We are excited to be here for what is hopefully the first of many Saratoga drafts for Highgate.”

In addition to the perfect setting, the auction has produced some high-class racehorses. Its top graduates include unbeaten MGISW Flightline (Tapit), who brought $1-million at the Spa; MGISW Rushing Fall (More Than Ready); GI Florida Derby hero Known Agenda (Curlin); GI Santa Anita Derby winner Honor A.P. (Honor Code); GI Breeders' Cup Juvenile Fillies Turf winner Sharing (Speightstown); and many more.

The 2020 Saratoga Sale was canceled due to the COVID-19 pandemic, but the auction came back strong in 2021 with 135 yearlings summoning $55.155 million. The average was $408,556 and the median was $350,000.

Bidding gets underway at 6:30 p.m. Monday evening at the Humphrey S. Finney Pavilion and continues Tuesday with a second session starting at the same time.

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