Eric Gustavson | Horse Racing Free Tips

Breeders’ Cup Announces Election Results to its Board of Directors

The election results for the Breeders' Cup Board of Directors have been announced.

William S. Farish, Jr. (Lane's End Farm), Eric Gustavson (Spendthrift Farm), and Alex Solis, II (Solis/Litt Bloodstock) were each elected to serve a four-year term. Farish and Solis were re-elected as Directors.

Gustavson, who joined Spendthrift in 2006, has overseen the farm's extensive growth rising from one homebred stallion to currently having the largest roster in North America. Gustavson also has led the team that brought the “Share the Upside Program” and making racehorse ownership available to the masses through its investment in the micro-share start up “MyRacehorse.”

Gustavson succeeds Anthony Manganaro, who served on the Board for four years.

“Eric has a proven record as a leader and innovator in many facets of our industry,” said Fred Hertrich III, Breeders' Cup Chairman. “We look forward to Eric's conscientious and thought-provoking approach in supporting our initiatives, and enhancing our mission and vision of the Breeders' Cup as one of the most distinctive and respected brands in Thoroughbred racing.

“We also extend our sincere thanks for the contributions that Anthony Manganaro has given to our Board over the past several years. Anthony has been an important source of guidance and inspiration to the Breeders' Cup and to our sport.”

The Breeders' Cup Board of Directors also includes: Fred W. Hertrich III, Bret Jones, Barbara Banke, Antony Beck, Jimmy Bell, Alan Cooper, Drew Fleming, Walker Hancock, Clem Murphy, Gavin Murphy and Elliott Walden.

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Cornerstone Spendthrift Farm Sire Malibu Moon Dies At Age 24

Malibu Moon, the foundation sire of B. Wayne Hughes' Spendthrift Farm, died suddenly on Tuesday in his paddock of an apparent heart attack. The distinguished son of A.P. Indy was 24.

“He started Spendthrift for us,” said Hughes, founder of the modern-era Spendthrift. “Without Malibu Moon, we are not where we are today. It takes a special horse, and he was just that. This is a sad day.”

A perennial leading sire in North America, Malibu Moon has been a staple of the Thoroughbred industry for the better part of this century, significantly influencing the breed through his sons and daughters on both the racetrack and in the breeding shed.

Malibu Moon has sired 126 black type winners and 51 graded winners – including 17 Grade 1 winners – to date. His progeny are led by 2013 Kentucky Derby winner Orb, 2004 Champion 2-Year-Old Declan's Moon, and Grade 1-winning millionaires over the last dozen years that include Gormley, Magnum Moon, Life At Ten, Carina Mia and Come Dancing.

“It's a sad day for us. This is our first loss of this kind. It's tough,” said Spendthrift owner and president, Eric Gustavson. “You really develop a love for these beautiful, majestic animals. Even with Into Mischief taking over the mantle as 'top stallion' at the farm, Malibu Moon has always been 'the man' among our stallions. It can't be overstated how important he has been to the development of our farm. To say he will be missed just doesn't cover it. It's hard to imagine Spendthrift Farm without Malibu Moon.”

Malibu Moon's 17 Grade 1 winners all came on dirt, representing the second most by a modern-day sire on that surface only to Tapit. Malibu Moon perhaps made his greatest impact on the Kentucky Derby trail, siring winners of the Kentucky Derby (Orb), Florida Derby (Orb), Santa Anita Derby (Gormley), and Arkansas Derby (Magnum Moon), among other key “prep” races.

He has also been a highly influential broodmare sire in recent years, with his daughters producing the likes of champion Stellar Wind, Grade 1 winners Girvin, By the Moon, Bellafina and recent Preakness runner-up Midnight Bourbon, among others.

Malibu Moon was owned by Spendthrift, Castleton Lyons and Country Life Farm.

“Malibu Moon did so many things for so many people,” said Ned Toffey, Spendthrift general manager. “Our partners, Castleton Lyons and the Pons family, were so instrumental in helping develop his career and he rewarded them, and us, handsomely for it. He has truly been the horse of a lifetime.”

Country Life Farm's Josh Pons added: “Malibu Moon was a friend. He had a special presence and was such a playful horse. When I would come visit him at Spendthrift, he always recognized me and my voice. Malibu Moon improved the lives of all the people he touched. He paid tuitions for the next generations of Pons family – he put five kids through college. Malibu Moon moved up everything he touched.”

Bred and raced by Hughes, Malibu Moon was second on debut before breaking his maiden in his second start going five furlongs on the dirt at Hollywood Park as a 2-year-old for the late trainer Melvin Stute. It would be his only two starts, as Malibu Moon came out of his maiden victory with a significant knee injury that would end his racing career.

Malibu Moon took up stud in 2000 at Country Life Farm in Maryland, where he stood for a modest $3,000 fee and quickly became a smash from his initial crops of offspring to hit the racetrack. Declan's Moon was a member of his second crop, helping ascend Malibu Moon's young stud career to the next level. He moved to Kentucky to stand his first season at the Ryan family's Castleton Lyons in 2004 for a fee of $10,000. That was the same year Hughes purchased Spendthrift Farm.

In late 2007, Malibu Moon was moved to Spendthrift after Hughes had spent the previous few years restoring the farm to be able to stand stallions again. With the continued success of his progeny on the track, Malibu Moon stood his first season at Spendthrift in 2008 for a fee of $40,000. As he continued to reach new heights, his fee would climb to a high of $95,000 in 2014 following Orb's historic Derby triumph the season prior.

Since arriving in Kentucky in 2003, Malibu Moon has been cared for and overseen daily by Wayne Howard, the current Spendthrift stallion manager who was at Castleton Lyons until he and Malibu Moon both moved to Spendthrift.

“Malibu Moon – 'Boo Boo' to me – will be sadly missed by all of us at Spendthrift. Personally, the 18 years I had the pleasure to care and work with Malibu Moon have been a journey I believe we both enjoyed immensely. He was most definitely the boss, I just followed his lead,” said Howard.

Malibu Moon represented genetic royalty. He was the most prolific son of the breed-shaping A.P. Indy, who himself was the most prolific son of the legendary sire and 1977 Triple Crown winner Seattle Slew. Malibu Moon is the only son of A.P. Indy to sire a Kentucky Derby winner – matching Seattle Slew with one.

Always known for his strong physical stature and good looks, the bay Malibu Moon was out of the Mr. Prospector mare Macoumba, whom Hughes purchased and imported from France following her successful Group 1-winning racing career. Malibu Moon is a half-brother to Parker's Storm Cat – another stallion bred by Hughes – and his half-sister Curriculum is the dam of Spendthrift homebred runner and sire, Temple City.

Malibu Moon was standing stud for his 22nd breeding season in 2021 at a fee of $35,000 at his passing.

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Beholder’s Yearling Filly Gets A Name: Karin With An I

The second foal out of four-time Eclipse Award winner Beholder, a filly by Curlin, has been given the name Karin With An I, owner Spendthrift Farm announced on Monday.

The name was chosen in honor of the later mother of Spendthrift president Eric Gustavson.

”My mom died the same year the filly was born,” Gustavson said. “Wayne (Hughes) so graciously suggested we name the filly after my mom. I tried her name, which is Karin, with the Jockey Club. There was already a Caren (Canada's 2016 Horse of the Year), so they rejected it. That's how I chose 'Karin With An I.”'

The name follows in the footsteps of Beholder's first foal, an Uncle Mo colt named Q B One who is training toward his debut start in Southern California. Beholder delivered her third foal, a War Front filly, on Jan. 12 at Spendthrift Farm, where the 10-year-old Henny Hughes mare resides, and she visited fellow Spendthrift resident Bolt d'Oro during the 2020 breeding season.

Curlin, a 16-year-old son of Smart Strike, stands at Hill 'n' Dale Farms in Lexington, Ky., for an advertised fee of $175,000. The two-time Horse of the Year is the sire of Breeders' Cup Classic winner Vino Rosso, Preakness Stakes winner Exaggerator, and Belmont Stakes winner Palace Malice, among many others.

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Diversity in Racing: Eric Gustavson

As many people in the United States and around the world question their personal views on diversity and racial inclusion, we decided to look inwardly on our industry, and we found it wanting. So we asked a tough question to several industry members: How do we make racing at its highest level more diverse?

ERIC GUSTAVSON, President of Spendthrift Farm

As we all know, diversity comes in many shapes and sizes. And the question, ‘how do we make racing at its highest level more diverse?’ is locked and loaded for controversy- which makes it a good question I guess.

Financial Diversity:

First of all, racing is known as “the sport of kings.” You don’t see too much financial diversity among kings. A skeptic might call it “the sport of rich white guys.” That would be pretty much spot on. Racing is, and has been, run BY rich white guys, FOR rich white guys, for a long, long time. Full disclosure: I happen to be a rich white guy, but I will try to be objective nonetheless.

The only way to make the actual racing experience more financially diverse at the highest level is to make racing more affordable to a broader group of people. Equine microshare companies like MyRacehorse do just that by offering affordable horse ownership, allowing the owner to buy into top level racehorses for often less than $100. This also has the diversification bonus of drawing more women and minorities into the game. Win-win-win. Full disclosure #2: This may come off as self-serving as Spendthrift is invested in MyRacehorse, but I think it’s true nonetheless.

Gender Diversity:

There are women participating at every level, and in every aspect of our sport, and that’s great. There are relatively few women owners at the highest level of racing. Maybe that’s because they, as a gender, are too smart and pragmatic to be willing to lose so much money (ha ha).

As for positions of leadership, maybe The Jockey Clubs and Breeders’ Cups, et. al. of the world should work to have women in leadership as more of a representation of the population, or closer to a 50-50 split. Maybe that means a certain number of seats HAVE to be filled by women. This old boys’ club stuff has got to go. Full disclosure #3: I’m an old boy, albeit never part of the club. I’m also a newly-elected member of the Breeders’ Cup Board, who may have lost out to a woman had the above been implemented. I’m okay with that.

Racial Diversity:

Ah, the hot button issue of the day. Of our time really. If you are like me, you are wondering how long can this be an issue of our time. Aren’t we supposed to be better than this by now? I mean seriously…what the hell? It’s exasperating. People go through tough times all the time-at every level of race, gender, and wealth. But dang, those times are sure easier if you are a man. And even easier if you are white. The system is rigged, and racing is just as guilty as every other subset of our society. If we can’t get our crap together enough to implement a centralized racing authority, to develop uniform drug rules, to better weed out drug cheaters, to increase sales transparency, to make more advances in aftercare, to etc., etc., etc….can we at least be part of the 21st century solution to diversity?

Mandate a certain number of the above referenced seats be allocated to minorities you say? Why not? Because it’s not democratic you say? Bullsh-t, I say. That attitude has gotten us where we are. Without the mandates it doesn’t happen. Look around. Last time I checked, our industry wasn’t booming. The excuses rich white men make to maintain the status quo don’t work anymore. Full disclosure one last time: I used to do that. I’m done with it.

Do you have an idea that you would be willing to share for this series? Email the TDN’s Katie Ritz at katieritz@tdn.com.

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