Hennessy Brothers Making Their Mark

Shane and Josh Hennessy grew up in an Ohio family whose only connection to horse racing was a yearly tradition of watching the Kentucky Derby on television, but the two brothers are more than making up for lost time. Both now serve as managers at Kentucky farms which enjoyed strong results at the recently concluded Keeneland September Yearling Sale. Josh is in his third year at the Knelman family's Farfellow Farms, while Shane joined forces with Robbie and Susie Lyons's Hartwell Farm last December.

“I came down to University of Kentucky and started working at Chesapeake Farm part-time and just kind of fell in love with it,” Josh Hennessy said of his first involvement in the industry. “I switched my major to equine science and management and ever since then, it's been no turning back.”

Shane Hennessy followed in his brother's footsteps to the Bluegrass.

“I was in school and I needed a job to help pay the bills really,” Shane explained. “I started at Chesapeake Farm just as a farm hand. My brother was sort of doing the same thing and kind of linked me in.”

But it took him a little longer to decide the industry would be his future.

“I was happy doing the job, but it took me a while to get the wheels spinning and connect things and see how it played out–to see the horses grow up and get to that age where they run,” he continued. “I ended up working full time there for two to three years and then I switched my major over to equine management.”

Both brothers also worked at Tom Evans's Trackside Farm.

“Tom really played a huge part in our involvement in the industry,” Shane, who spent three years working with Evans, said.

Following his stint at Trackside, Shane spent time at Stonestreet before settling in at Calumet Farm.

The 27-year-old decided to make the move to Hartwell Farm last winter.

“I was just sort of looking to do more,” he said of the transition. “I had been the assistant broodmare manager at Calumet for the last two years and before that I was in the stallion division over there. So they kind of made a spot for me to move up. But I wanted to be in every aspect of it, more than just the broodmares. Over there, we would just foal them, then wean them and then that was it. I really like to be a part of the sales prep process–from the day they are born to the day they move on to their next career. That's sort of what I was looking to do.”

That all-inclusive attitude was exactly what the Lyonses were looking for for their farm.

“Our hope with having Shane come on board is to be able to bring in a few more clients that want to board and sell with us and race as well,” Robbie Lyons said. “We are fairly skinny on mares going into the season this year. We truly love what we do and enjoy the actual work, and having Shane be a part of it has added not only value to our business, but has made it a lot more fun for us.”

Lyons continued, “In hiring Shane as a working farm manager, he certainly had the experience to do the job having worked at Calumet, Stonestreet and Trackside under Tom Evans. What you don't see on a resume or in a recommendation is passion. And Shane has this in abundance.”

This year's September sale was Shane's first with Hartwell and the operation sold all 13 to go through the ring.

“I think it went great,” Shane said of the farm's sales results, which included a $310,000 son of American Pharoah (hip 1122) and a $200,000 colt by Hard Spun (hip 1370). “I had a lot of fun, met a lot of people that I didn't know. And we got everything sold, so I think that's a successful sale.”

As his brother was working his way from Calumet to Hartwell, Josh Hennessy was putting in the time at the Cleary family's Clearsky Farm. He joined Farfellow Farms three years ago, a time he measures in foal crops.

“I started around the Derby, there was a group of yearlings and group of foals when I started, a crop of foals that made it to the yearling sales this year and a group of weanlings on the ground now. So, this was my third yearling sale with Farfellow,” he explained.

Farfellow Farms knocked it out of the park at Keeneland with a $1-million son of Street Sense and followed up with a $700,000 session-topping son of City of Light.

“It was very rewarding,” Josh said. “The results exceeded our expectations, but we knew we had a good group of horses and we put a lot of hard work into them. It was just great for the farm–they were very deserving. We put a lot of hard work in all year, so when you can see those types of results, it's very gratifying.”

In addition to the success of their respective farms, the Hennessy brothers also enjoyed their own victory in the sales ring. They purchased a colt by Maclean's Music privately last year and sold him for $95,000 at the September sale (hip 2195).

“We've been doing it for probably the last five years or so, buying a horse and trying to improve him and move him on,” Shane said. “[Hip 2195] was a pretty good one for us.”

The colt's success in the sales ring may have had a lot to do with good word of mouth, according to Robbie Lyons.

“Everyday the staff at Hartwell had to listen to the virtues…success..and the plain 'awesomeness' of Maclean's Music. Any stallion manager ought to make sure the Hennessy  brothers buy one of their stallion's offspring, just for the PR alone.”

While working with family can sometimes be stressful, Josh said the brothers pinhooking ventures work because they come into them with similar mind sets.

“In terms of what we are looking for, we both have a similar type of horse that we look for,” Josh said. “So that makes it easy to work together. We are looking for a certain type of horse and we've been able to do well with what we've done so far. We've been fortunate to do well with a few of them.”

Of the Maclean's Music colt, Josh said, “We knew the stallion had some good horses running and I think what we saw in him was a horse who just needed some time and some TLC and a little time to grow up. He just had an athletic frame to him and that's kind of what we like to look for, just an athletic-framed horse who is maybe a little immature, but one that we know we can try to improve on. At the end of the day, you're trying to improve the horses so you can have a successful pinhook.”

Looking ahead to the upcoming breeding stock sales, Josh said, “I think our goal this year is to try to buy three weanlings. We will see. I think the market is going to be really strong, so that's our goal at this point in time. We may be fighting and scrapping to get some bought, but if you look in the right places, you can always find a good deal.”

While the brothers have enjoyed success, Josh is quick to give credit to the many people who have helped them along the way.

“We bring a strong work ethic and passion for the horses to our jobs, but we've also had a lot of mentors along the way,” he said.

The list starts with then-Chesapeake Farm owner Drew Nardiello and includes Tom Evans, Bernard and Eamonn Cleary and Clearsky manager Barry Robinette, Calumet manager Eddie Kane, and the Knelman family.

Also getting a mention is Brenda Stewart, the grandmother of Josh's wife Kelsey, who helped jump start the brothers' pinhooking operation.

“We were living on her farm and managing her horses,” Josh said of Stewart. “In exchange, she gave us the option to keep a horse there, so that's when we started trying to pinhook.”

As for future plans, Shane said, “I plan on pinhooking being my future. Hopefully.”

Josh added, “We would like to keep growing the pinhooking and we'd like to grow our business in the long-term. But short-term, I think we want to just keep on having our business on the side and putting in the work on the farms that we work for. And I think we are in really good spots. We've been really fortunate to be in the positions we are in. I think our goal right now is to keep working hard and hopefully be able to grow as the years go by.”

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Letruska Tops Nominees To Keeneland’s Fall Stars Weekend

St. George Stable's Letruska, a three-time Grade 1 winner in 2021, plus defending race champions Ivar (BRZ), Diamond Oops and Inthemidstofbiz are among the standouts who have been nominated to race at Keeneland during Fall Stars Weekend on Oct. 8-10, opening weekend of the 17-day Fall Meet that marks the track's 85th anniversary. First post each day of the season, which runs through Oct. 30, is 1 p.m. ET.

Featuring horses from the nation's leading owners, trainers and jockeys, Fall Stars Weekend consists of 10 stakes, nine of which are graded, worth $3.65 million. Five of those races are Grade 1 events, and nine of them are Breeders' Cup Challenge races that are “Win and You're In” contests that award the winners fees-paid berths into corresponding races for the World Championships at Del Mar on Nov. 4-5.

Click here for the lists of horses nominated to Fall Stars Weekend stakes and their past performances. Here is a look at those nominations:

Opening day, Friday, Oct. 8 – Entries taken Oct. 5

Darley Alcibiades (G1): The 70th running of the $400,000 race for 2-year-old fillies going 1 1/16 miles on dirt is a “Win and You're In” race for the $2 million Breeders' Cup Juvenile Fillies (G1) to be run Nov. 5.

The Darley Alcibiades attracted 39 nominees headlined by LBD Stable, Manganaro Bloodstock and David Ingordo's Tarabi and James McIngvale's homebred Runup.

Trained by Cherie DeVaux, Tarabi won her debut and in her most recent start was second in the 7-furlong Spinaway (G1) at Saratoga.

Runup, trained by Laura Wohlers, posted a 3-length victory in Monmouth's Sorority, which was contested around two turns going a mile. She has won two of three starts.

Among other nominees are Harold Lerner, AWC Stables, Nehoc Stables, Scott Akman and Paul Braverman et al's Mama Rina, trained by Kenny McPeek, and Red Oak Stable's Goddess of Fire, trained by Todd Pletcher. The fillies are the 2-3 finishers in the Pocahontas (G3) run at 1 1/16 miles at Churchill on Sept. 18.

Stoll Keenon Ogden Phoenix (G2): A total of 22 sprinters have been nominated to the 169th running of the $250,000, 6-furlong test for 3-year-olds and up on dirt, which is a “Win and You're In” race for the $2 million Breeders' Cup Sprint (G1) to be run Nov. 6.

Topping the nominees is defending champion Diamond Oops, owned by Diamond 100 Racing Club, Amy Dunne, D.P. Racing and trainer Patrick Biancone. Six horses have won this race in consecutive years, most recently Sum of the Parts in 2012-2013.

Diamond Oops prevailed in last year's Stoll Keenon Ogden Phoenix by three-quarters of a length over 51-1 longshot Empire of Gold, who is nominated to the 2021 renewal for Johnny Evans and trainer Terry Eoff.

Also nominated are Lane's End Racing and Hronis Racing's Flagstaff and Paradise Farms Corp. and David Staudacher's Special Reserve, the 1-2 finishers in this spring's Commonwealth (G3) at Keeneland.

John Sadler trains Flagstaff, who won the Churchill Downs (G1) on Kentucky Derby Day. Mike Maker trains Special Reserve, who was second in the Alfred G. Vanderbilt (G1) at Saratoga in his most recent start.

Wagers: $200,000 Guaranteed Pick 4 Presented by TVG.

Saturday, Oct. 9 – Entries taken Oct. 6

Keeneland Turf Mile (G1): The $750,000 test for 3-year-olds and up attracted 33 nominees for the “Win and You're In” race for the $2 million FanDuel Breeders' Cup Mile (G1) presented by PDJF to be run Nov. 6.

Topping the roster of nominees for the 36th running of the race is defending champion Ivar (BRZ).

Owned by Bonne Chance Farm and Stud R D I and trained by Paulo Lobo, Ivar has raced only once in 2021, finishing sixth when beaten 2 lengths in the Turf Classic (G1) at Churchill on Kentucky Derby Day.

Ivar closed 2020 by finishing fourth in the Breeders' Cup Mile at Keeneland, chasing fellow Keeneland Turf Mile nominees Order of Australia (IRE) and Lope Y Fernandez (IRE), both trained by Aidan O'Brien.

Order of Australia, who won the Breeders' Cup Mile at 73-1 odds, is owned by Derrick Smith, Mrs. John Magnier, Michael Tabor and Anne Marie O'Brien. In his most recent start, Order of Australia was second in the Prix du Moulin de Longchamp (G1).

Lope Y Fernandez, owned by the partnership of Tabor, Smith and Magnier, has won one of six starts in 2021 since his third-place Breeders' Cup finish.

Claiborne Breeders' Futurity (G1): Two-turn stakes winners Major General and Double Thunder, both trained by Todd Pletcher, top a total of 44 nominees for the 108th running of the 1 1/16-mile dirt test for 2-year-olds.

The $500,000 Claiborne Breeders' Futurity is a “Win and You're In” race for the $2 million TVG Breeders' Cup Juvenile (G1) Presented by Thoroughbred Aftercare Alliance to be run Nov. 5.

WinStar Farm and Siena Farm's Major General is undefeated in his two career starts with a narrow victory in the 1 1/16-mile Iroquois (G3) in his most recent outing Sept. 18 at Churchill.

Phoenix Thoroughbreds' Double Thunder won the 1-mile Sapling at Monmouth on Sept. 5 in his most recent start. Double Thunder has won three of his four starts, including the Bashford Manor (G3) this summer at Churchill.

Pletcher, who has won the Claiborne Breeders' Futurity twice, has seven other youngsters nominated to this year's race headlined by Runhappy Hopeful (G1) runner-up Wit, owned by Repole Stable, St. Elias Stable and Gainesway Stable.

Also nominated are the 2-3 Iroquois finishers Tough to Tame, owned by Rittdiculous Gazmanian Stables and trained by Chris Davis, and Jim Bakke and Gerry Isbister's Red Knobs, trained by Dale Romans.

First Lady (G1) Presented by UK HealthCare: Godolphin's homebred Althiqa (GB), winner of the Just a Game (G1) and Diana (G1) in her two ventures to North America this year, headlines a roster of 25 nominees for the 24th running of the $400,000 race for fillies and mares to be contested over a mile on the Keeneland turf course.

The First Lady is a “Win and You're In” race for the $2 million Maker's Mark Breeders' Cup Filly and Mare Turf (G1) to be run Nov. 6.

Never worse than third in 11 career starts, Althiqa is trained by Charlie Appleby.

Trainer Chad Brown, who has saddled the First Lady winner the past three years and four times overall, has three mares nominated to this year's renewal.

Heading that trio is Juddmonte's Viadera (GB). Winner of the Ballston Spa (G2) in her most recent start, Viadera won last year's Matriarch (G1) at Del Mar.

Brown's other nominees are multiple stakes winners Regal Glory and Blowout (GB). Both are owned by Peter Brant.

Another nominee is the Estate of Harvey A. Clarke and Paul Braverman's Harvey's Lil Goil, winner of last year's Queen Elizabeth II Challenge Cup (G1) Presented by Dixiana at Keeneland. She is trained by Bill Mott.

Thoroughbred Club of America (G2): Contreras Stable and Andrew Knapczyk's Inthemidstofbiz, upset winner of the 2020 TCA, is among 23 fillies and mares nominated to the 41st running of the $250,000 sprint at 6 furlongs on dirt.

The Thoroughbred Club of America is a “Win and You're In” race for the $1 million Breeders' Cup Filly and Mare Sprint (G1) to be run Nov. 6.

Trained by Cipriano Contreras, Inthemidstofbiz has run twice in 2021. In her most recent start, she was fourth in the Satin and Lace Stakes at Presque Isle Downs. She used that race as a prep for the 2020 TCA.

Only one horse has won the TCA in consecutive years: Excitable Lady in 1982-1983.

Other nominees include multiple graded stakes winners Bell's the One, owned by Lothenbach Stables and trained by Neil Pessin; Lloyd Madison Farms IV's Sconsin, trained by Greg Foley, and Frank Fletcher Racing Operations' Frank's Rockette, trained by Bill Mott.

Woodford (G2) Presented by TVG: Ranlo Investment's Golden Pal, winner of last year's Breeders' Cup Juvenile Turf Sprint (G2) at Keeneland, and stablemate Campanelle (IRE), a two-time Group 1 winner owned by Stonestreet Stables, highlight a roster of 20 turf sprinters nominated to the 25th running of the $200,000 race for 3-year-olds and up going 5½ furlongs over the Keeneland grass course. Both are trained by Wesley Ward.

Golden Pal won the Quick Call (G3) at Saratoga in July and was seventh in the Coolmore Wootton Bassett Nunthorpe (G1) last month at York in England.

Campanelle captured the Commonwealth Cup (G1) at Royal Ascot in England in July. Last year at 2, she won the Queen Mary (G2) at Royal Ascot and the Darley Prix Morny (G1) at Deauville in France.

Trainer Brendan Walsh has two nominees: DARRS Inc.'s $1.6 million earner Extravagant Kid, winner of the Al Quoz Sprint (G1) at Meydan, and Qatar Racing Limited and RacehorseClub's The Lir Jet (IRE), winner of the Franklin-Simpson (G2) at Kentucky Downs in his U.S. debut. The Lir Jet defeated Golden Pal in the Norfolk (G2) at Royal Ascot last year.

Wagers: $400,000 Guaranteed All-Stakes Pick 4 and $300,000 Guaranteed All-Stakes Pick 5.

Sunday, Oct. 10 – Entries taken Oct. 7

Juddmonte Spinster (G1): St. George Stable's Letruska, winner of five of six starts in 2021 and the front-runner for an Eclipse Award as champion older dirt female, tops a list of 26 fillies and mares nominated to the 66th running of the 1 1/8-mile, $500,000 stakes.

The Juddmonte Spinster is a “Win and You're In” race for the $2 million Breeders' Cup Distaff (G1) to be run Nov. 6.

Trained by Fausto Gutierrez, Letruska has won her past four races with Grade 1 scores in the Apple Blossom, Ogden Phipps and Personal Ensign Presented by Lia Infinity.

Other nominees include multiple Grade 1 winner Shedaresthedevil. Owned by Qatar Racing, Flurry Racing Stables and Big Aut Farms, Shedaresthedevil edged Letruska by a head in the Azeri (G2) in March at Oaklawn Park. Brad Cox trains Shedaresthedevil along with Juddmonte's Bonny South, who came up a half-length shy of catching Letruska in the Personal Ensign. Bonny South won the 1 1/16-mile Baird Doubledogdare (G3) during Keeneland's 2021 Spring Meet.

Castle & Key Bourbon (G2): Phoenix Thoroughbreds' Tiz the Bomb, winner of the Kentucky Downs Juvenile Mile, tops a list of 52 nominees to the 31st running of the 1 1/16-mile grass test for 2-year-olds worth $200,000.

The Castle & Key Bourbon is a “Win and You're In” race for the $1 million Breeders' Cup Juvenile Turf (G1) to be run Nov. 5.

Trained by Kenny McPeek, Tiz the Bomb is undefeated in two grass starts.

Other notable nominees are Klaravich Stables' Portfolio Company, trained by Chad Brown, and Stuart Janney III's Limited Liability, trained by Shug McGaughey. Those two runners finished 2-3, respectively, in Saratoga's With Anticipation (G3).

Indian Summer (L) Presented by Keeneland Select: Silverton Hill's Red Danger, winner of the Global Tote Juvenile Sprint Stakes (L) at Kentucky Downs, headlines the 37 nominees to the fourth running of the $200,000 race for 2-year-olds going 5½ furlongs on the grass.

The Indian Summer is a “Win and You're In” race for the $1 million Breeders' Cup Juvenile Turf Sprint (G2) to be run Nov. 5.

Trained by Brian Lynch, Red Danger is perfect in his two grass starts.

Trainer Wesley Ward, whose filly Kimari beat males in the 2019 Indian Summer, has six fillies nominated to this year's race. They include Hat Creek Racing's stakes winner Averly Jane, Castleton Lyons' Chi Town Lady and Stonestreet Stables' Twilight Gleaming (IRE). Twilight Gleaming, second in the Queen Mary (G2) at Royal Ascot, most recently won a listed stakes in France.

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Dixiana-Breds Hit the Right Notes for Ingordo

The silks of Lee and Susan Searing's CRK Stable have been a formidable presence in California in recent years thanks in large part to MGSWs Express Train (Union Rags) and Midcourt (Midnight Lute). Both stable stars have excelled in their division for trainer John Shirreffs with Midcourt taking last year's GII San Pasqual S. and Express Train claiming winning honors in the same race this year before also adding the GII San Diego H. to his growing resume.

While separated by two years in age, the stablemates also share the same breeder. Dixiana Farm sold Midcourt to David Ingordo, who signed on behalf of Mayberry Farm, for $450,000 at the 2016 Keeneland September Sale. Two years later, Express Train was purchased by the same connections for $500,000.

This year, Ingordo went back to the well for another Dixiana-bred to send on to Shirreffs for CRK Stable. During the second session of the Keeneland September Sale, he purchased Dixiana's Quality Road colt out of their stakes-placed homebred Brielle's Appeal (English Channel) for $1.15 million.

Steve Cauthen, who serves as Dixiana's racing manager, said their team was thrilled with the final hammer price.

“By the time we led him up into the ring, we knew he was a very popular horse and that we were going to be well-paid for him, but I don't think we were thinking he was going to pass the million-dollar mark,” he admitted. “But it was a good sale and he was a good horse out of a young mare and Quality Road is about as hot as any stallion on the market. So all the stars came together and worked for us.”

The successful sale was significant for the colt's breeders as it was the first million-dollar yearling produced by the farm's current owners, William and Donna Shively.

“The great thing that made Mr. Shively very happy was the fact that we bred and raced the dam and now we bred this horse,” Cauthen explained. “That's what you do this for. When you lead them up into that ring, it's like you're watching your kid playing soccer. When they do well, you're very proud about it.”

It was a symbolic purchase for Ingordo as well, as it marked the longstanding connection he shares with Dixiana Farm and the colt's female family.

Brielle's Appeal takes an allowance at Keeneland by over five lengths in 2018 | Coady

“When I was about 21, I worked at Walmac Farm under Johnny Jones,” Ingordo recalled. “One weekend, I had forgotten that there was an appointment and I had gone out on the farm jogging with my dog. Then this appointment showed up and it was Bill Shively. That was about 24 years ago, but it was one of those things that was probably fate because I hit it off with Bill immediately and he has been a good friend of mine since. He's given me a lot of good advice about life and business, and hopefully I've given him some good horse advice.”

One important tip that Ingordo offered to Shively came a few years later in 2006, when Ingordo recommended the purchase of an unraced 3-year-old named Court of Appeal (Deputy Minister). Dixiana Stables purchased the mare, who was in foal to Quiet American, for $335,000.

Two years later, Court of Appeal's Quiet American filly was offered at the Keeneland September Sale and Ingordo signed the $250,000 ticket on the yearling for Padua Stables..

“My arrangement with Padua was that I owned part of every horse,” Ingordo said. “She was kind of a start-and-stop filly, but we finally got her to Todd Pletcher.”

The filly, named Authenticity, didn't make her first start until she was four, but would eventually claim the GII La Troienne S. and GIII Shuvee H. while also running second in three Grade I contests. Sold for $1.2 million to Stonestreet Thoroughbred Holdings in 2013, she is now responsible for recently-retired MGISW 'TDN Rising Star' Charlatan (Speightstown).

In 2014, Court of Appeal produced a filly by English Channel. Dixiana sent the homebred to trainer Albert Stall. Named Brielle's Appeal, the filly won on debut at Kentucky Downs at three before later adding an allowance win at Keeneland to her resume and running third in the GIII Kentucky Downs Ladies Sprint S. Retired to the farm where she was foaled in 2019, her first foal was the million-dollar Quality Road colt.

“I've been following [this colt] for almost a year,” Ingordo said. “On my internal notes that I made for myself and for the farm, he always scored very, very highly. Because I knew his pedigree so well, it all added up to a million-dollar plus sale.”

“There are two kinds of people in this business,” he continued. “There are the ones that let the horses do the talking and the ones that the humans do the talking for. Mr. Shively is one that lets his horses do the talking. I think it was a great honor for him to sell a horse like this. He's been a big supporter of racing for a very long time, but he's only getting started in a lot of ways. His family is involved and he's setting up for the long run.”

Dixiana Farm, a historic landmark in Lexington for well over a century, was purchased by Bill and Donna Shively in 2004. Cauthen, who has been on the farm's team for six years, spoke on the relationship Dixiana holds with Ingordo.

“David is obviously a good horseman and he likes the way Dixiana breeds and raises their horses,” he said. “He's around the farm a lot and gets to watch the horses as they're growing and maturing. We're happy to have the association with David. He's been a big part of helping our farm continue to succeed and grow.”

Dixiana Farm's Bill Shively | Keeneland

“Mr. Shively does such a good job of raising them,” Ingordo said. “No expense is spared for the horses and it gives you confidence to go and buy them and try to develop them. A rising tide lifts all boats, so these pedigrees continue to improve and it's a symbiotic relationship. My clients asks to buy Dixiana-breds because we've had such good luck with them.”

In addition to purchasing the $1.15 million Quality Road colt at the September Sale, Ingordo also went to $300,000 for the Accelerate half-brother to CRK Stable's Express Train–the goal being that this pair of youngsters can follow the same path as their two Dixiana-bred predecessors

“It's fine to sell a horse for a lot of money, but how many Express Trains and Midcourts are there that people give $450,000 and $500,000 for, but they never run,” Ingordo said. “It's a really positive thing for Dixiana that their horses sell for top dollar and then they go on and perform. That's something we don't always see. One of the great things about Dixiana is that they raise their horses really organically. They have good land and do everything right.”

While Brielle's Appeal did not produce a foal this year, she is now in foal to Speightstown. The closely-related cross to the speedy Charlatan could be an exciting sales prospect in just a few years.

“We're thinking maybe a champion in the Breeders' Cup Mile,” Cauthen said with a laugh, then added that Shively has expressed an interest in putting more focus on producing quality turf runners.

“[Shively] is a big fan of turf racing,” he said. “Compared to back when I was riding, there are at least twice as many turf races and turf stakes races, so I'm all for it. That's one of his main focuses, but obviously the goal is to raise good horses. Raise them healthy and do it the right way. We race a few, but mainly we breed for the sales. I think we're starting to really find our footing in the sales arena and hopefully now on the racetrack as well.”

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Keeneland September Yearling Sale Post Record Average, Median Prices

Keeneland's September Yearling Sale, a bellwether event for the Thoroughbred industry, concluded Friday with gross sales of $352 million, sixth-highest in sale history, and record cumulative average and median prices. Large crowds of enthusiastic buyers and buoyant trade from start to finish of the 11-day auction drove a record high clearance rate of just over 80 percent that reflected a confident market and an excitement for owning racehorses.

Vibrant pace throughout the sale, held Sept. 13-24, produced gross receipts of $352,823,000, a 47.96 percent rebound from last year's gross of $238,454,300 when the 12-day sale was impacted by the uncertainty of the COVID-19 pandemic. This year's gross is just shy of the $359,787,700 realized in 2019 to signal a resumption of the bull markets of previous years. A total of 2,672 yearlings sold through the ring this year compared to 2,346 in 2020.

Records were established for both cumulative average and median prices. Average price of $132,045 represents a 29.91 percent increase over last year's $101,643 and surpasses the previous record of $129,331 set in 2018. Median price rose 75.68 percent from $37,000 to $65,000 and smashes the record of $57,000 set in 2017.

Fifteen yearlings sold for $1 million or more, led by a colt from the first crop of City of Light who brought $1.7 million.

“Thanks to all our breeders, consignors and buyers, whose passion for racing clearly showed through these past two weeks,” Keeneland President and CEO Shannon Arvin said. “This September Sale felt completely different from any other in recent memory – lots of hustle and bustle. We elevated our hospitality throughout the sale, with a particular focus on the first two days, to create excitement and anticipation. We worked to set the tone and stage. Our breeders and consignors delivered high-quality bloodstock, and the buyers responded fervently. People are emerging from the pandemic with a renewed sense of vitality, and they are ready to have fun. That positivity, coupled with the increased prize money available at tracks around the country, created a pent-up demand for racehorses coming into the sale. We were thrilled to see lots of happy buyers and consignors.”

“This sale exceeded expectations in nearly every measure,” Keeneland Vice President of Sales Tony Lacy said. “The positive takeaways are very encouraging. The level of confidence across the spectrum of the industry is extremely high. The clearance rate has been very healthy, especially in the middle market. The strength of the young sires has been remarkable and shows excitement for the next generation. The diversity of buyers and the spread of equity among them are broad and deep. We're seeing a lot of new faces and new money, and these people are excited about their participation.”

Brian Graves, General Manager of Gainesway, the sale's second-leading consignor that sold 131 horses for $30,120,000 concurred.

“I thought (the sale) would pick up steam as the books went, and it did,” Graves said. “The middle market has been the strongest part of the market for horses all year long, and (the September Sale) just proved that there's a lot of people in the middle. There's a good stable, solid domestic market out there right now, and that's good for all of us.”

The strong demand for horses was borne out in the record clearance rate, the highest for the September Sale since 2012. Records were twice set for number of horses sold through the ring during a single session: 319 in session seven followed by 325 in session nine. Keeneland officials noted the clearance rate is higher than the published figure since a large number of horses sold privately after not meeting their reserves in the sale ring.

“It's been a great sale – nobody can deny that. Every indicator tells us as much. Such a low RNA rate yesterday (session nine); nine percent is remarkable,” said Peter O'Callaghan of Woods Edge Farm, who sold all but one horse in his consignment, which was highlighted by a $1.05 million colt by City of Light purchased by West Bloodstock, agent for Repole Stable and St. Elias.

“(The sale is) the best it's been in quite some time. I don't think it's an accident, either,” O'Callaghan added. “Horse racing did a great job going through COVID and got a lot of new eyes on the game, a lot of new bettors in the game. Handles were going up everywhere. Prize money is exploding. People are recognizing that. They know it really makes sense to own a racehorse in this country. You can make money, you can pay your way. If you win a nice race at a prominent track, you can almost pay your training fees for the year. It's great, and long may it continue.”

Several days prior to the sale, Keeneland announced an innovative venture with Kentucky Downs aimed at further strengthening racing opportunities for this year's September Sale graduates. They are eligible to run in a pair of $250,000 allowance races – one for fillies and one for colts and geldings – at the 2022 FanDuel Meet at Kentucky Downs.

The optimistic outlook for racing contributed to a deep buying bench at the September Sale, consisting of domestic buyers along with returning international buyers from 27 countries such as  England, Ireland, France, Japan, China, Australia, Hong Kong, Peru, Argentina, United Arab Emirates, Russia and Singapore. The sale's 15 seven-figure horses were bought by 13 distinct buyers.

From the outset, major buyers packed the sales pavilion and back show rings and competed with waves of new buyers who arrived daily as the sale moved into Week 2.

Domestic buyers, particularly end users, drove the market.

“The domestic end-user activity was sensational,” Keeneland Director of Sales Operations Cormac Breathnach said. “It's been great to see them step up in such a big way. It's encouraging that as an industry we're able to maintain strong growth while we're missing some historically significant players.”

The sale also benefited from the increased participation of partnerships and syndicates. Partnerships comprising West Point Thoroughbreds, Woodford Racing and Talla Racing purchased the top three highest-priced horses: a City of Light colt from the family of Grade 2 winner and sire Broken Vow for $1.7 million, a Quality Road colt who is a half-brother to Grade 1 winner Girvin and classic-placed Midnight Bourbon for $1.6 million and a Justify colt from the family of champion Wait a While for $1.55 million.

Jacob West's West Bloodstock, agent for Repole Stable and St. Elias, was the sale's leading buyer, purchasing 43 yearlings for $16,045,000. They included a son of City of Light for $1.05 million. West acquired horses for Repole and St. Elias as late as the eighth session.

Other leading buyers who represented partnerships were Donato Lanni, agent for SF Bloodstock/Starlight/Madaket, who spent $10,590,000 for 24 colts, and BSW/Crow Colts Group, a new entity that acquired 20 colts for $6,805,000.

“Partnerships were very dominant in the market, and they hugely benefited this sale,” Lacy said. “While they may take away the $3-$4 million horse, partnerships spread the money among buyers and allows investors to spread their risk. They also enable people to have fun in a more affordable way. And by bringing more people into the sport, they create a fan base.”

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Established sires continued to be highly prized with American Pharoah, Curlin, Into Mischief,  Quality Road, Street Sense, Tapit, Uncle Mo and War Front represented by yearlings who brought seven figures. Into Mischief was the leading sire by total sales with 62 colts and fillies grossing $25,967,000.

American Pharoah sired the auction's highest-priced filly, who sold for $1.4 million to Northshore Bloodstock, agent. Consigned by Betz Thoroughbreds, agent, the filly is a half-sister to undefeated Echo Zulu, who captured Saratoga's Grade 1 Spinaway Stakes eight days prior to the sale.

Yearlings from the first crops of Triple Crown winner Justify and Grade 1 winner City of Light fetched some of the sale's top prices to rank the stallions second and third, respectively, on the September Sale's leading sire list in terms of gross sales. Justify was represented by 61 yearlings sold for $22,431,000, led by a colt for $1.55 million. City of Light grossed $17,525,000 for 47 yearlings, including the $1.7 million sale-topping colt and a $1.05 million colt. He sired the highest-priced horses in two sessions.

“The market is probably the strongest we've seen here in the last 15, 20 years – just in depth of the buying bench and quality of the prices,” said Aidan O'Meara, Director of Bloodstock and Client Development at Stonehaven Steadings, consignor of a $1.55 million Justify colt. “We've never been as busy at the barns with the number and intensity of the buyers and the number of shows. The amount of back ring action in the past couple of days has been astonishing. We were very fortunate with a couple of big touches, but the market held all the way through until the last one we just sold.”

Among the other young stallions to rank among the sale's leaders were Horse of the Year Gun Runner, champion Good Magic and Grade 1 winners Mendelssohn and Practical Joke.

“There was exceptional quality in this yearling crop that extended into Week 2,” Keeneland Director of Sales Development Mark Maronde said. “The quality of this crop, the variety of stallions represented and the professionalism of our breeders and sellers made this sale a success.”

Small, family-run farms made a splash this September by consigning homebreds that sold for seven figures. The sale-topping colt by City of Light was consigned by Rosilyn Polan's Sunday Morning Farm. The Knelman family's Farfellow Farms sold a $1 million colt by Street Sense to BSW/Crow Colts Group and a $700,000 colt by City of Light to West Bloodstock, agent for Repole Stable and St. Elias.

“The sale has been extremely strong,” said Jak Knelman. “It's pretty amazing walking to the back ring and seeing everybody who is looking at horses in the barns and just purely waiting for them to come to the back ring. Purses in Kentucky and across the nation in the big markets are really exploding, and it affects the people who are raising horses. For (us with) a small band of broodmares and (being) commercial breeders, the yearling sales are really what we target. This is what makes or breaks the year. You're sure to be looked at by everyone when you come here, and that's all you can ask as a seller.”

Keeneland made several adjustments to the format this September that were well received by consignors and buyers. Week 1 was structured so Books 1 and 2, which consisted of two sessions each, were held on four consecutive days before the sale took a one-day hiatus. As a result, 1,102 yearlings were cataloged to be presented to buyers. Keeneland also combined the final two sessions (those horses originally cataloged to Sessions 11 and 12) into a single session on today's final day to conclude the sale during a three-day Book 5. Both changes were made to present a critical mass of horses to buyers.

For the first time, Keeneland offered an RNA Reoffer program that allowed consignors to reoffer horses not sold on Day 1 at the conclusion of the second session. Four horses that did not meet their reserves on opening day went through the RNA Reoffer at the close the second session and one of those sold.

“The RNA Reoffer served its purpose in that it incentivized a lot of post-sale transactions,” Lacy said.

Keeneland once again offered tools such as online and phone bidding to facilitate buying. Online bidding resulted in the sale of 135 horses for a total of $19,206,500.

Taylor Made Sales Agency, agent, led all consignors at the September Sale for the seventh consecutive year and the 23rd year overall since 1988. Taylor Made sold 304 yearlings for $37,306,500.

During Friday's final session, 244 yearlings sold for $3,937,500, for an average of $16,137 and a median of $12,000.

Bill and Anne Scott purchased a Silent Name (JPN) filly for $120,000 to be the highest priced yearling sold Friday. Consigned by Hidden Brook, agent, the filly is out of the graded stakes-winning Awesome Again mare Ice Festival.

The post Keeneland September Yearling Sale Post Record Average, Median Prices appeared first on Horse Racing News | Paulick Report.

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