Partnerships, Presented By Taylor Made: A Taste of Victory

The exhilarating rush of adrenaline created when seeing your Thoroughbred soar across the finish line creates a sweet taste of victory that brings a sense of satisfaction and a touch of disbelief.

That often-elusive flavor remains on one's tongue in a constant search for more. Taste of Victory Stable's founders Kyle Yost and Brian Richardson have reveled in that sensation, knowing it can be interspersed with bitter moments that only life and owning Thoroughbred racehorses can produce.

The seeds of Thoroughbred ownership are typically planted by family and/or friends. Yost, a graduate of Penn State University, grew up on a small South Central Pennsylvania farm where his parents raised and brokered livestock. “My dad raised some mid-level Thoroughbreds on the farm which attracted me to the sport, almost by osmosis,” reflected Yost. “We would take in days at Penn National and Pimlico. There was just something about a Thoroughbred that drew me in.”

Richardson, on the other hand, and on the other side of the country, grew up just 20 minutes from Los Alamitos Race Course in Huntington Beach, California. “Aside from the early trips to Los Al, I will always remember my days at USC and making trips to Santa Anita with friends. On one occasion I hit an exacta for $680 and I was hooked as a horseplayer. As a fan, attending the races in Southern California was something special for our family.”

The road to ownership for Richardson began while on a fishing trip with his dad and his dad's best friend Gene Ward, who was affectionately nicknamed “Cherry.” “Cherry offered up what he called the idea of all ideas to my dad who they called `Hawk,' Richardson said. “Why don't we gather friends and family and rent out a luxury suite at Del Mar to take in the races and put Brian in charge?” It became an annual event, titled the Del Mar Cherry-Hawk event.”

The Partners | courtesy of Taste of Victory Stables

After a number of years enjoying Mexican buffets and drinks at Del Mar, it was another genius idea from `Cherry' who figured since they enjoyed going to Del Mar so much each year, it was time to buy a Thoroughbred and race themselves. So, 20 friends and family members got together, including Hawk, Cherry and Yost, who was a business associate and friend, and they started Cherry Hawk Stables.

The partnership's first horse was a yearling who the 20 partners opted to name Twenty Hawks (Unusual Heat). “We didn't think the name Twenty Cherries would provide the intimidating aura we wanted in our first racehorse,” quipped Richardson.

Twenty Hawks would go on to earn over $338,000 for the group of first timers, but sadly Brian's father passed away prior to the horse moving out to Charles Town and finding success. Twenty Hawks broke his maiden in his fifth lifetime start. “It was bittersweet considering my dad inspired us, along with Cherry, to start going to Del Mar and purchase a racehorse. I knew Twenty Hawks was wearing angel wings when he first scored for us. It was an emotional moment for me,” said Richardson.

Twenty Hawks: The Life-Changing Story of “The Iron Horse”

The concept of Taste of Victory Stables was amalgamated over multiple conversations between Yost and Richardson. “It was about 10 years ago, and we both wanted to somehow elevate the popularity of the sport,” said Yost. “There were other groups out there like West Point and Dogwood, but buying shares with them was out of reach for most people. We wanted to make it affordable for the average fan.”

Richardson concurs. “We had the ability to attract new owners from coast to coast and at a level that wasn't going to break the bank,” he said. “Giving people a `behind the ropes' experience that most racing fans have never been a part of was something we were committed to providing. The partners in Cherry Hawk Stables were also looking for more action and more horses so we launched Taste of Victory Stables in 2015.”

Partner Jeff Guffey and wife Nancy with Marley's Ghost at Saratoga | courtesy of Taste of Victory Stables

Current partner Dan Filipek recounted his initial connection to horse racing and Kyle Yost. “I let him know that I had been going to the racetrack with my father since I was a young boy,” said Filipek. “I had great memories of watching the Michigan Mile at Detroit Race Course and watching the Trotters at Northville Downs. I was sad that both of those tracks closed along with Hazel Park Raceway. I mentioned to Kyle that the three things my father and I did most together were go to the racetrack, work on cars and go hunting. But since my dad passed, my passion for working on cars and hunting faded, but not my love for horse racing. It was then that Kyle told me about the partnership group that Taste of Victory offered, and I thought what better way to rekindle my memories of watching horse racing with my dad then getting truly involved in the sport, so I joined.”

Another partner who said he was glad Taste of Victory started to expand is Larry Hopkins. “I have met some incredible people through TOV,” he said. “I have been on a few road trips to see our horses including our annual pilgrimage to Pimlico for Black-Eyed Susan day. It is interesting getting to mingle with more experienced horsemen and also meeting some of the trainers.  It has really opened my eyes to what a great sport Thoroughbred racing is.”

As the partnership expanded so did the management group. In 2016, while attending an owners' conference at Keeneland, Yost and Richardson met Russ Sapienza on a tour of Adena Springs. Originally from Pennsylvania like Yost, Sapienza would eventually make his way to Saratoga Springs where the former senior partner at PricewaterhouseCoopers currently resides. “I was first introduced to horse racing in high school when I went to Brandywine Raceway in Delaware to see the Stanley Cup, which was on tour after being won by the Flyers,” said Sapienza. “But I looked around and my attention turned to the horses. That experience and years of going to Saratoga and Belmont with my wife and her dad turned me into a hardcore fan of the sport and the horses. I enjoy handicapping and even participated in the 2020 NHC in Las Vegas and continue to play in tournaments today. I hope I bring a bit of the 'business of Thoroughbred ownership' in my role as an advisor to Kyle and Brian.”

Sapienza has focused on New York-breds and racing at Belmont, Aqueduct, and Saratoga for Taste of Victory. “New York has a friendly condition book for New York-breds, and the purse structure is extremely competitive. They also have a strong aftercare program which is important to our partners. When you race at places like Saratoga, you get to compete at an elite level in sport while still being part of a small barn or group. You can't do that in any other sport.”

Taste of Victory provides a variety of opportunities that can include young horses or claimers. Their groups are also regionally diverse with groups competing in California, the Mid-Atlantic, New York, and recently Ohio. “We like to keep the investment levels between $1,500 and $7,500 and want people to have at least a three percent interest in any group,” said Yost. “Each group has multiple horses to provide plenty of action and we don't mark up any of our purchases. Each group starts off with a budget that includes estimated expenditures for a year in advance, assuming no purse earnings. We don't want to be reaching out and making cash calls every month.”

The lower starting investment level was a key for partner Doug Shepherd. “The idea of purchasing a horse on my own was too daunting and expensive for a hobby, so the concept of an ownership group was perfect for me,” he said. “I have now been a part of numerous TOV groups that race in various parts of the United States. My wife and son have also become interested in horse racing and my son has recently joined a group with TOV.”

Hit the Road | Lauren King

Filipek agreed and aptly summed it up. “The cost of entry is affordable, but the thrills are priceless!”

Taste of Victory does reserve $300 per month for administrative expenses that go to cover professional fees and the services of their trusted bookkeeper Cara Thomas. The group has begun retaining 5% of purse earnings for new groups to provide funding for expansion and offering more social events. The trio of experienced managers has recently begun offering private management for individuals or groups that want to own horses on their own but need some additional guidance and support.

“Private management is great for families, poker or golfing groups, fraternity brothers and sorority sisters, corporate groups–essentially any individuals or groups that want a program customized to provide maximum enjoyment and flexibility,” said Yost.

Jeff Guffey is one partner who enjoys the events and access. “On race days, they are always willing to host owners at the track, and even set up barn tours for up-close access to the horses and the trainers. It really makes you feel like a true owner and horseman. I think that is what differentiates a group like Taste of Victory from other ownership groups that are less hands on, and more crowd-sourced.”

Taste of Victory Stables has sent two horses to the Breeders' Cup since its inception. GISW/GSW What a View (Vronsky) was the first in 2016, but success arrived in a big way when Taste of Victory Stables bought into Hit the Road in 2019. The More Than Ready colt won the GIII Thunder Road S. and the GI Frank E. Kilroe Mile in 2020.

“Hit the Road made it to the Breeders' Cup Juvenile Turf in 2019. Even though he didn't hit the board, it was such a joy to be able to host our partners and family at one of our home tracks,” Richardson said.

Hit the Road will be starting his stud career in South Africa this year.

Hit the Road | Benoit

The sweet taste of success was less palatable for Yost though. His wife of 15 years was also immersed in a cancer battle, which sadly she lost in June 2021.

“The horses, including Hit the Road, helped divert my mind for a bit and provide some positivity to the situation, but it was difficult for everyone,” said Yost. “I couldn't get over the outpouring of support from our partners and all the people in the horse racing industry we work with. From sending food for my family to simple notes of support, it was unbelievable.”

Shepherd reflected on the sentiment. “Sure, we love to win stakes races, but that is not what drives everyone. I have learned so much about the sport and the people involved, that it has made me love and appreciate the sport so much more than I ever imagined.”

As Taste of Victory Stables continues to welcome new partners, one thing will continue to hold true: The flavor of life and owning Thoroughbreds is a complex blend of sweet successes, bitter disappointments, and the savory experiences that linger in between.

The post Partnerships, Presented By Taylor Made: A Taste of Victory appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

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Finding The Right Syndicate For You-Part 2, Presented By Taylor Made Partnerships

The Midwestern sage, Mark Twain espoused, “The secret of getting ahead is getting started.” Nothing could be more apropos when considering joining a Thoroughbred racehorse partnership.

Getting started is the hardest part for most prospective owners. The world of Thoroughbred racing can seem as inaccessible as the Churchill Down's Turf Club on Derby Day. The good news is joining a partnership makes getting started easier.

In the first part of this series, we provided basic information such as investment levels, tax considerations and the entertainment value partnerships offer.

In Part 2, we will provide insights into the experiential considerations that can make your personal journey into ownership more valuable.

Owning More That 5%

You should always begin by considering what is going to be financially comfortable for you. If your investment level is below $1,000, your focus should be directed toward micro-share opportunities like MyRacehorse, Wasabi Venture Stables, or a racing club at your local racetrack. These vehicles offer participation for as little as a couple hundred dollars and generally offer less than 1% interest in a horse. Micro-share partnerships rarely present any financial windfalls, but do give you the excitement of participation and a friendly conversation starter at your next social event. They also make great gifts for a horse lover in your life.

If you are comfortable in investing $1,000 or more, look for an opportunity where you can buy in for at least 5%. Truth be told, percentages have their privilege in Thoroughbred ownership. We all know that 5% of a $10,000 claimer is quite a bit less than 5% of a $1 million yearling.

What you may not know, there are significant benefits of being at least a 5% partner. Owning 5% means that most racing jurisdictions will require you to become a licensed owner. Once you are licensed, you now have access, and access is where the real fun begins.

Trainer observing morning workouts | Coady Photography

With a state-issued owner's license, you typically will have access to the stable area and your horse. Watching morning workouts, spending time in and around a functioning training operation, and gaining insight into how the stable area operates are a handful of the most fascinating activities an owner can experience. Feeding carrots and treats to your horse can be worth the price of your investment alone.

On race day, you will have access to the paddock area to see your horse prepare to head out to the racetrack. The paddock is where you can interact with your jockey, trainer and other partners. Most racetracks also offer owner privileges like free admission, free programs, reserved seating areas and invitations to special events. These perks are part of your return on investment and an enticing incentive to own at least 5% of a racehorse and becoming a licensed owner.

The Partnership Personality

You are now at the point where you are hungry to get started. Do not make the mistake of buying the proverbial sizzle of a partnership… you want the steak. What a partnership portrays in advertising or by the general partner may not be what is served. You need to learn about the partnership's personality, in other words, where the meat is. How does the partnership communicate with its owners? How often does the partnership send out updates on horses? Do they use social media, e-mail, or other platforms? What level of input will you have?

Some general partners are great at taking input, others prefer to remain focused and rely on their own experience and skills. If you are a person that likes to socialize, do not hesitate to ask what events, or get togethers, are typically planned. Talk to current partners and get their feedback while simultaneously gaining a sense of whom you will be sharing the experience. Part of your return on investment are the relationships you develop. Simply make sure you get the steak and not just a bunch of sizzling mushrooms.*

Geography

Most partnerships run their horses at specific racetracks or on a circuit. You need to determine if you are ok with watching your horse race on the computer or if you want to go to the racetrack and enjoy watching your horse race live. There are racetracks that are great for bringing friends and family with you and others that do not make the greatest first impressions.

California racing | Benoit

Where you live or where you are willing to travel is important in how immersed you can get into ownership. Living in Missouri does not mean you should not own a racehorse, it just means you may have to travel more vs. someone that lives in Southern California. Conversely, if you are solely interested in a financial return on your investment or are allergic to hay and hate the smell of manure, seeing your horse in person may not matter. The bottom line is: know where your horses are most apt to race and determine it if falls in line with what you are seeking.

The Mission

There are partnerships for breeding, buying yearlings, pinhooking, buying two-year-olds, claiming, and everything in-between. What is best for you is a choice. Start by asking yourself if you like action or if you are willing to be patient and potentially end up with a Kentucky Derby horse. Most new owners benefit from getting involved in a claiming partnership first.

With these partnerships, you can make your investment one day and be at the races to watch your horse run within weeks. Typically, new owners start in a claiming partnership, move to buying into unraced younger horses, then yearlings and down the road becoming part of a breeding opportunity. All are available to you with partnerships and you will be learning and becoming more adept along the way.

The Cherry On Top

An area that has become especially important to new owners coming into the sport, and rightfully so, is aftercare. Prospective new partners should ask, “What will happen once our horse is done racing? Can we still follow our horse after it retires?” Do not hesitate to ask these questions about any partnership you are looking to get involved in.

Some partnerships have aftercare programs in place, some have aftercare organizations they work with, and others unfortunately have no answer to this question. When you buy a Thoroughbred racehorse, you will discover an intrinsic connection to the horse, it is inevitable. Making sure you participate in a partnership that cares for their horses after their racing career is over is to be applauded and supported.

Wonder Wheel | Sara Gordon

The path to becoming a Thoroughbred racehorse owner has never been easier. Partnerships have led the way in making ownership more accessible to everyone that loves horse racing or horses.

Finding the right partnership for you is a process, a process that hopefully has been made simpler by knowing what to ask, what to look for, and what really matters to you personally.

Note: a mushroom is a term in racing is often referred to an owner who is kept in the dark and fed manure.

The post Finding The Right Syndicate For You-Part 2, Presented By Taylor Made Partnerships appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

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Partnerships: In Front Racing Stables Personifies Integrity Through Partnerships

In Yiddish, a mensch is a person who personifies integrity, morality, dignity and a sense of what is right and responsible. But mensch is more than just an old Yiddish adage, it is a word that best describes the managing partner of In Front Racing Stables, Howie Heiberger.

Heiberger was born and raised in Brooklyn, New York and that meant having Aqueduct as a beacon of fun and excitement just a few miles away. As a teenager in the late 70s, he and his friends would put forward the $1 it cost to take the Express Bus east to Queens to take in an afternoon at the races. The gang of wide-eyed neophyte gamblers would pool their money in the hope of making a score just like their seasoned counterparts. However, more often than not, Heiberger and his young Brooklynites would end up having to take the subway home, which only cost 35 cents since the bus fare was long gone.

Heiberger has spent the last 20 years building a successful catering and event center business in Freehold, New Jersey. The success of his Aurum Events and Exquisite Caterers now means he doesn't need to take the bus any more, but the memories of Aqueduct have never left. Always a casual horseplayer, Heiberger decided to dip his toe into the ownership game and began buying into partnerships about 10 years ago. Owning 3% to 5% of different horses made it clear to him that you did not have to own the whole horse to enjoy the total experience. That revelation inspired him to start In Front Racing Stables in June 2021.

Howie Heiberger | Howie Heiberger

Within weeks of getting the stable set up, Heiberger, some family and a few close friends dropped a claim slip on a 4-year-old mare named Tenderness (Medal Count). The $20,000 claimer would be the start of a long eight months of frustration for the new partnership group. In Front Racing Stables had 14 starts and waited eight months before they finally visited the winner's circle with one of their horses. Not everything was dark clouds for the new stable though, prior to their first win they were able to hit the board with their horses 50% of the time, so money was coming in and the bills were getting paid. With exactly 100 starts, as of the writing of this article, you can now find 15 winning photos on the wall and the group sporting an in-the-money strike rate of 46%. The success of the stable is a team effort. In Front Racing Stables currently employees the services of trainers Linda Rice, Jose DeAngelo and John Toscano to train and race their horses.

Heiberger also works with Larry Kaufman who is on the ground at the NYRA tracks to find the right horses to claim and add to their stable. Claiming is the name of the game with In Front and it has become their bread and butter.

In Front Racing Stable offers a unique proposition to its current and future partners: No bills. Once a partner decides to invest in a racehorse, there are no cash calls for training, vet work, transportation, etc. The ability to offer partners this unique opportunity is achieved through a formula that gives trainers 60% of the In Front horse's net purses earned and the partners 35%. Heiberger retains 5% of the net purses to cover the costs of running the operation. As the general partner, Heiberger also marks up all claims 15%. “Our partners really like the model we have established because they know what they want to invest and that is it,” he said. “No cash calls or bills. I have been in business a long time and you have to believe in the product that you are selling. I believe in this model.”

So do his partners, who now exceed 75 participants. Active partners number around 45 and 25 partners are in on almost every horse claimed. Most are from the East Coast, but In Front has partners that live in Arkansas, Oklahoma and as far away as Arizona. “We primarily race in New York and Florida, but I have the Oaklawn Park condition book in my hands now, so we may be expanding west,” he added.

In Front Racing Stable | Howie Heiberger

In Front partner Michele Farina had the same experience of sneaking off to the track while still in school. “We talked about experiences having grown up around the game and had things in common,” said Farina. “Besides being such a nice man, I respect how he has established and grown the stable. Also, meeting the other partners has been great and we basically all hang out together when we're at the track whether we're running a horse or not and that is what I really enjoy.”

One of those other partners Farina referred is Joey Zayas. “Howie ensures you are part of everything, from your thoughts on the horses they select as a possible claim to the race selections when that flexibility arises. I started with MyRacehorse, and even though they provide a great experience for the new, perhaps inexperienced horse owners, you are not that engaged with the day-to-day operations like In Front.”

In Front partner Steven Rapoport also has had experience with other partnerships. “I was a member of Karakorum Farms, Drawing Away Stables and Top Hat Thoroughbreds in the past,” he said.

“We have a group of 60 or so partners here who can look at claims. evaluate horses and try to make intelligent claims. The no-bills aspect makes it affordable.”

Heiberger is appreciative of the owner perks NYRA offers and one of the reasons he strongly recommends partners own at least five percent or more, so they can get licensed. “When you are a New York licensed owner, you get free admission for yourself and immediate family, free programs and owner's parking,” he said. “They even have an owner's lounge area. These things bring value to horse ownership.”

Teaching novices about ownership, introducing them to trainers, jockeys and others in the game is what drives Heiberger to grow In Front Racing Stables. “I want to give our partners a great experience just like with my businesses,” he said. “I also want them to learn, and interact with all aspects of the game, and most of all I want them to have a shot at making some money.”

This may seem like a lot to offer to small percentage owners, but that is simply what a mensch, like Howie Heiberger, does.

Joe Scurto is the principal at Horseshoe Marketing. His Twitter is @RacingHorseshoe.

Editor's Note: Partnerships, presented by Taylor Made Partnerships, is a new TDN feature which explores different partnership groups at different investment levels across the country. Each month, we will choose a different group to profile.

The post Partnerships: In Front Racing Stables Personifies Integrity Through Partnerships appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

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