The Parting Gift of Don Bernardo

So just what are those Derby gods up to now? What seeds of comfort, of commemoration, did they sow in the grief of last summer?

Bernardo Alvarez Calderon was not just patriarch of a large and loving family, but something of a godfather for the entire Thoroughbred racing and breeding community of Peru. Its esteem was palpable after his loss last August, aged 78, following a fall. The president of the national breeders' association described him as “a horseman par excellence, whose contribution to our breed will last forever; an example for us all, both in his knowledge and his passion.” Another leading breeder suggested the ultimate tribute lay in their own hands: “Someday, I hope, we can all arrive at his type of horse; can all do things the way Don Bernardo did them.”

Nor should that ambition be confined to his countrymen. Don Bernardo–who excelled in show jumping in his younger days, but whose goatee and spectacles ultimately gave him rather a professorial air–was also much respected in the U.S. It was here that Teneri Stable, a small satellite of his Haras La Qallana, produced no less a horse than GI Pegasus World Cup winner Mucho Gusto (Mucho Macho Man).

And now his family and friends, approaching a first spring without Don Bernardo, find themselves wondering whether the first flowers of consolation, in the garland draped over the GII Tampa Bay Derby winner last Saturday, could yet bloom into a blanket of roses on the first Saturday in May. For Helium (Ironicus), now unbeaten in three starts, traces four generations to Don Bernardo's very first American purchase, a pregnant mare named Redwing Blackbird acquired for $9,600 at Fasig-Tipton in January 1986.

Don Bernardo's family with Stella Thayer and the Tampa Bay Derby garland | Courtesy of Gabriela Alvarez Calderon

In gratefully accepting the Tampa Bay garland, on behalf of Helium's owners D.J. Stable, Don Bernardo's daughter Gabriela could not help sensing that the colt's GI Kentucky Derby candidature has a unique benediction. On the way home she rang Jon Green, manager of D.J. Stable. “I just want to let you know that my dad is looking down on us and smiling,” she said. “I really appreciate the fact that you've allowed me and my family to stay involved in this horse, because he belongs to the last group that my dad actually bred.”

She told Green that she had been holding back tears in the winner's circle. “Because she knew it was all about her father,” Green explains. “It was her father that had gone against conventional wisdom, breeding to this $5,000 stallion.”

“It was so special,” assents Gabriela. “I don't even have words for it. I was there with my brother and his children, and we just feel like we're receiving so many incredible gifts. My father was a genius with horses. When he started breeding, he came up with a [Peruvian] Triple Crown winner within four years. He breathed, dreamed, talked of nothing but horses. And such a horseman: he could get on anything and a minute later it would be like he had been riding that horse all his life. And when he planned a mating, he would already be thinking ahead to three generations on.”

Don Barnardo had a sixth sense for horses. At Keeneland November in 2006, for instance, he bought a Rahy mare for $16,000 and a daughter of Sadler's Wells for $60,000. The foals they had respectively delivered the previous year turned out to be dual Grade I winner Life At Ten (Malibu Moon) and four-time Group 1 winner Campanologist (Kingmambo). In the same ring, a couple of months previously, he had bought a Touch Gold yearling for $7,000. The following year her half-sister Ginger Punch (Awesome Again) won the GI Breeders' Cup Distaff.

Don Bernardo with Emilia's Moon, Helium's half-sister | Courtesy of Gabriela Alvarez Calderon

It tells you everything about the wholesome nature of Don Bernardo's bequest to the breed that he named Teneri for the example of Federico Tesio and his iconic champions, Nearco (Ity) and Ribot (GB). (Each donated the first two letters of his name to form the composite Te-ne-ri.) Similarly, his choice of Shawhan Place as nursery for his U.S. stock–where their supervision includes two sons of that doyen of Kentucky horsemen, Gus Koch–attested to his faith in the best principles of the old school. (How typical of this up-and-down business that the Shawhan team, derailed from the Derby trail by a setback for graduate Senor Buscador (Mineshaft), should find themselves back with a rooting interest just days later.)

As such, it's not hard to imagine what appealed to Don Bernardo about Redwing Blackbird. Her sire Bold Favorite was admittedly not one of Bold Ruler's significant sons, but represented a fine Argentinian family. More importantly, her own maternal line brought into play trademark Tesio influences and, in turn, the stud of the 17th Earl of Derby–itself so key to the Italian's work. (Redwing Blackbird's second dam was by Bold Ruler's sire Nasrullah, duly securing a 3×3 foothold to this great conduit of Nearco.)

Redwing Blackbird was carrying a Proud Appeal filly, who became the graded stakes-placed Proud Emilia. Bred to Saint Ballado a couple of times before being sent to her owner's homeland, she produced a Peruvian champion miler, Domingo, who eventually stood at Haras La Qallana; and Saint Emilia (Per), a local Grade III winner/Grade I runner-up who made the reverse migration for her own breeding career, joining the Teneri broodmare band. (This has never exceeded nine mares, compared with around 40 on the Peruvian farm.)

“She was only 440, 460 kilos but beat the colts many times,” Gabriela says. “When people at the sales said her foals were little, I would tell them that this was a family of small horses that could run big.” Four of Saint Emilia's daughters have duly become stakes producers, mostly in Peru though the most accomplished, Thundering Emilia, did transfer to the U.S. to win an 8 1/2-furlong turf stake for Michael Matz.

Helium is Thundering Emilia's fourth foal. A couple of her previous ones have already excelled: Emilia's Moon (Malibu Moon), as a Peruvian Classic winner; and graded-stakes placed Mighty Scarlett (Scat Daddy). Despite their contributions to his page, Helium was by a sire struggling for commercial traction and the $55,000 given by Cool Hill Farm at Fasig-Tipton October made him the most expensive yearling of that debut crop.

“Matt Koch at Shawhan had said that he was an incredible colt from the moment he was born,” Gabriela remembers. “We were there with Dad, at the sale, and those Ironicus babies weren't selling. So we said we would keep him if he didn't make more than $50,000. Unfortunately he did, just!”

Helium had been bought as a pinhooking project for Bo Hunt, but fell into the juvenile auction cycle that was so disrupted by the onset of the pandemic last year.

“My parents are in their 80s, it wasn't on the cards to travel down there to the sales,” Green recalls. “But we've known Bo for 15, 20 years, and knew we could trust him enough to ask: 'Out of the 70-something you have, who are your top three or four candidates?'”

Hunt came up with a shortlist, and trainer Mark Casse went over to see them gallop. He didn't take to one; they couldn't quite agree on a price for another, who turned out to be Miss Brazil (Palace Malice), an excellent second in the Busher S. last weekend; and two that D.J. Stable did buy. One of those was Helium.

Helium ran to a 4 1/4-length triumph in Woodbine's Display S. last year | Michael Burns

Though he won on debut at Woodbine in late September and then followed up in a stake over the same seven furlongs of Tapeta, things then started to conspire against the colt. Woodbine suspended first for snow; then for the pandemic. Shipped to Fair Grounds, Helium was nearing a return when he wrenched an ankle. In the circumstances, then, nobody should underestimate the talent underpinning a pretty extraordinary performance last weekend.

This was Helium's first start in nearly five months; and his first ever on dirt, or round a second turn. The idea had been that if he was going to experiment on the surface, he might as well stay local to Palm Meadows; and they could get a seasoned reading from Jose Ferrer, who actually won a race in these silks as long ago as 1987. They told him simply to keep out of the kickback, and not to punish him if the wheels were spinning. Sure enough, Helium raced wide the whole way until sweeping round the field on the far turn and grabbing the rail into the stretch. Understandably, that big move seemed to tell, and he was headed around the eighth pole. Outrageously, however, he then rallied to win going away.

Len and Jon Green | Fasig-Tipton photo

“He literally had a half a dozen excuses not to hit the wire first,” Green says. “We were asking him to do so many things that were out of his wheelhouse. But when Jose asked him, he just exploded. And then to see him put the other horse away, that's what got us really excited. We would have been very satisfied to run second, and have something to build upon. The fact that he had something left in the tank, and also had the interest to continue to run, is frankly mind-boggling.”

Training up to the Derby is obviously a bold move, but Helium has himself a gate and has shown that he excels when fresh. The other obvious reservation, to conventional thinking, will be his pedigree. We've already seen how Don Bernardo rooted this family in Classic influences, but Helium remains one of just four winners to this point by his young sire.

These, however, remain the earliest of days for a stallion certain to advance his stock with maturity; and one who simply doesn't have the numbers behind him to permit standard commercial comparisons.

Ironicus was homebred by Claiborne's longstanding client, Stuart S. Janney III, and returned to his native farm after maturing at four and five into one of the better turf runners in North America, just missing his Grade I by a head in the Shadwell Turf Mile. The son of Distorted Humor had the page, for sure: four siblings had won graded stakes (divided between turf and dirt), while his third dam is second dam of Flatter (A.P. Indy) (therefore also the family of Sea Hero, Roar, Congrats, etc).

Sadly the commercial market's puerile terror of slower-maturing/turf horses means that Ironicus covered only a couple of dozen mares last spring–but he's absolutely entitled to breed a Classic racehorse, on any surface, granted the support of breeders as far-sighted as Don Bernardo. It goes without saying that he is on the right farm for that, so perhaps Helium is about to reward those who persevered through a phase of his sire's career that was always going to require patience.

“I guess people will say it's a question mark on Helium's resume, that he's not by Tapit or Into Mischief,” Green acknowledges. “But if you look at his pedigree and race record, Ironicus checks a lot of boxes; while the female family brings in very respected broodmare sires.”

Mighty Scarlett | Sarah Andrew

D.J. Stable has duly doubled down on those genes. Helium's half-sister Mighty Scarlett, now a 6-year-old, was acquired for $240,000 at the Keeneland November Sale and sent to Uncle Mo, while a foal-sharing agreement has been negotiated on Helium's dam Thundering Emilia, with an American Pharoah covering. (Teneri, by the way, offered the dam of Mucho Gusto at the same November Sale but retained her at $500,000. She has since delivered a Medaglia d'Oro filly at Shawhan, and was this week covered by Uncle Mo.)

“My dad has an accounting firm that has 750-something Thoroughbred-related clients, so we're able to drill down on a lot of questions with people that have even more experience than we do,” Green says. “And this is something I noticed that Darby Dan would do, years ago, and Claiborne: collect family members when they felt like they had a good runner. That way, a positive change in a family would appear on three or four or five different assets. We've tried to replicate that.”

Whatever Helium can still do for the pedigree, the one guarantee is that the whole team will enjoy the ride.

“My dad said to me this morning: 'There are only a couple of things that got me more excited than this race–and those were meeting your mother, and when your sisters were born!'” says Green with a chuckle. “So yeah, this is a highlight in our 40 years in the business. We've been very fortunate: we've won a Breeders' Cup, we campaigned a champion, bred a champion. Years ago we even ran a horse in the Kentucky Derby, Songandaprayer [Unbridled's Song]. So we've had a great run in this wonderful business. But this is the first time I can remember having a horse that just checks all the boxes.”

One of those, of course, is a Hall of Fame trainer–something that heightens confidence in the unorthodoxy of the strategy now. Green knew not to expect big speed figures out of Saturday: the performance was all about context, and the eyeball test. “I honestly don't know if he's good enough to beat Life Is Good [Into Mischief] or those other top horses,” he says. “But I know that we're giving him the best chance possible.”

And it's not just his own family's long commitment to the game that could be consummated here. Another lifetime of study, patience and skill is dovetailing with their own cause. The Greens are delighted, then, to be sharing with his family this posthumous flourish from Don Bernardo.

“Gabriela is such a wonderful, kind individual,” Green says. “She's modest and humble, and just feels that this horse is carrying the banner for her late father, and for his family's love for him. So we just feel like everything's falling into place. It's a tremendous gift that we have, with this horse. So yes, maybe there are some racing gods smiling on us.”

“I really feel that with all these incredible things happening, it's one of those things in life that makes sense,” Gabriela says. “I feel Dad knows; I feel he's close to us. I know the passion he had, all his life, and this is the reward for that dedication.”

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D J Stable, Green Group’s Len Green Talks Making the Horse Business Profitable On Writers’ Room

It’s no secret that the horse business is a tough one if your primary goal is to make money. But your chances are better the more experience and expertise you accrue, and The Green Group’s Len Green has decades of both. Wednesday, the tax, accounting and consulting firm’s founder and principal of successful racing outfit D J Stable joined the TDN Writers’ Room presented by Keeneland to impart his advice on turning a profit in racing, discuss what tax changes could be coming down the pike with a new presidential administration in 2021 and reminisce on some of his favorite memories in racing.

“One, you really have to learn about setting [your horse investment] up so it looks, sounds and smells like a business,” Green said when asked for his advice for new owners. “Instead of writing checks out of your own regular checking account, which has personal deductions on it, etc., set up an LLC. It gives you protection in terms of liability, but it also gives you the appearance that you’re running it as a business. Two, you have to have some strategy. Three, you’ve got to keep on changing that strategy every couple of years.”

Elaborating on the last point, Green talked about making the eventual move from strictly racing claiming horses to the substantial owning and breeding program he now oversees, one that included champion 2-year-old filly Jaywalk (Cross Traffic) in 2018.

“You get used to a particular pattern of doing business and it really takes a shock sometimes to get you out of your comfort zone,” he said. “Our comfort zone was winning races. It was great, winning 30% of the time, but you were losing the horse because if the horse won for $25,000 our trainer would drop it down to 20. It would win at 20, but by that point, someone would claim the horse from you, and that horse may have originally cost you 100 [thousand]. His theory was, you run it where it belongs, which is correct, but that’s a great pattern to lose money with. So at a certain point in time, we said, ‘Hey, let’s get out of this claiming game. It’s too difficult to make money.'”

Elsewhere in the show, the writers reacted to an intriguing weekend of racing across the globe and, in the West Point Thoroughbreds news segment, lamented the slap-on-wrist punishments trainers continue to receive despite overall positive movement on drug issues in the sport. Click here to watch the podcast; click here for the audio-only version.

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Proven Strategies: End-of-Year Tax-Saving Tips

In horse racing, the contest is not over until the horse crosses the finish line.

The same is true with maximizing your tax deductions and minimizing your taxes.

For those who think it is too late to save on your 2020 taxes, we are here to tell you, it is not!

With over 40 years’ experience saving our clients taxes along with our knowledge of the new tax laws, we are confident the following information will help you as you approach the 2020 home stretch and allow you to hit the wire a winner.

Current Tax Act and What it Means to The Horse Industry

The Current Tax Act contains favorable developments for depreciating and expensing yearlings, breeding stock, farm equipment and other property.

Bonus Depreciation: An increase in bonus depreciation allows a write-off to increase from 50% to 100%. Accordingly, you are now permitted to fully expense purchases in the first year for yearlings, breeding stock and farm equipment. Used property can now qualify also. A few weeks still remain for 2020 asset additions with the potential benefit of a full tax write-off.

IRC&179 Deduction: The maximum amount that may be expensed has been increased from $500,000 to $1 million. The phase-out threshold has been increased from $2 million to $2.5 million.

Farm Equipment: The useful life has been reduced from seven years to five years and the 200% declining balance method can now be used.

Racehorses: Certain Thoroughbreds can still be depreciated as three-year property.

Even if business equipment (or horses) is purchased before year-end, they still qualify for these tax benefits.

2020 Year-End Tax Planning Strategies

Due to the transition of administration in our nation’s capital and the uncertainty of whether or not proposed tax law changes will be forthcoming, year-end tax planning for 2020 is more important than ever.

Steps Available for Individual Taxpayers

  1. Capital Gains: President-elect Biden is proposing an increase from 20% to 39.6% on capital gains for taxpayers with income above $1 million. Accordingly, if you are contemplating a sale of horses or real estate, you should consider accelerating the transaction into 2020 rather than waiting until 2021.

Even for taxpayers with income below the $1-million threshold, if you have realized capital gains in 2020, along with unrealized losses, you might want to trigger those losses before year-end to offset your gains, thereby reducing your tax liability.

On the flip side, if you have realized losses, consider taking some gains, as the deduction for capital losses is limited to $3,000 in any given year.

  1. Retirement Plan Alerts: Several relief measures are included in recent tax legislation to help individuals who are approaching retirement or facing financial concerns.

First, required minimum distributions are suspended for Year 2020. As a result, if you do not have a financial need to take a distribution in 2020, you do not need to do so. Leave the money in the Pension Plan and continue to have it accumulate value, tax free.

Second, plan participants who turn 70 1/2 in 2020 or later do not need to take required distributions until the year in which they turn 72.

Third, you are now permitted to contribute to a traditional IRA after age 70 1/2 as long as you have earned income.

Fourth, the 10% early withdrawal penalty for distributions of up to $100,000 from workplace retirement plans will be waived for individuals who either become ill or lose their employment. These distributions can be spread over three years, and individuals can recontribute all, or a portion, to avoid a penalty.

Fifth, contributions to a Keogh plan or a one-person 401(k) plan can be significant and save you substantial 2020 tax dollars if set up before Dec. 31, 2020.

A SEP-IRA is another flexible alternative. A SEP can be set up before the filling date of your 2020 tax return, yet still provide you with a 2020 deduction.

  1. Avoid the Underpayment of Estimated Tax Penalty: If you have not prepared a 2020 income tax projection, you should have your advisor do so. If your 2020 projection shows a balance due, request that a disproportionate amount of withholding be taken from your December paychecks, year-end bonus, or retirement plan distribution, rather than paying a comparable significant amount with a fourth-quarter estimated tax voucher.

This withholding approach is more favorable than writing a check because taxes that are withheld in December are deemed to be “thrown back” and treated as evenly spread through the calendar year. This enables you to catch up on any shortfall and still avoid a penalty for the first three quarters.

  1. Net Operating Losses (NOLs): Recent tax legislation temporarily reverses the rules enacted in 2017 which preclude the carryback of NOLs. Individuals with NOLs arising in 2018, 2019 and 2020 can now carry back their NOLs five years.

Of great importance, business losses, which had been capped at $250,000 for single taxpayers and $500,00 for joint returns, can be deducted without limitation through 2020!

  1. Maximize the Pass-Through Business Income Deduction: This tax-saving deduction allows certain taxpayers to deduct 20% of their qualified business income. To maximize the deduction, you should take action steps to qualify your taxable income so it is below this new provision’s phase-out thresholds.

Steps Available for Business Taxpayers

  1. Tax Treatment of Losses: Corporations can once again carry back NOLs, at least for losses arising in 2018 through 2020. Tax rule changes in December of 2017 had put a stop to this practice. Recent tax legislation reinstates this benefit and the carryback period is five years. Another temporary change is that corporations can now use NOLs to offset their entire taxable income through the 2020 tax year. The 2017 Tax Act’s 80% limitation has been temporarily removed.
  2. Maximize Available Depreciation: Businesses should consider making expenditures that qualify for 100% first-year bonus depreciation. Generally, both new and used depreciable assets are eligible. The full first-year write-off is allowed even if the asset is purchased late in the year and even if the deduction gives rise to a taxable loss.

Also, make sure you are taking bonus depreciation on all assets that are eligible. Many times assets are missed as to leasehold improvements on horses purchased in overseas sales or horses put into training but not yet raced.

An alternative is Section 179 depreciation, where for 2020 the expense limit has been raised to $1,040,000 if the investment purchases do not exceed $2,590,000. Keep in mind that Section 179 expensing cannot give rise to a loss.

  1. Qualified Business Income (QBI) Deduction: Certain business owners may be entitled to a deduction of up to 20% of their qualified business income. You should take whatever steps are possible to keep your taxable income below the phase-out thresholds. The rules are complex, so contact your tax advisor so they can help you maximize the use of the QBI deduction.

Possible Tax Law Changes Proposed by the Biden Administration

The best way to sum up President-elect Joe Biden’s tax plan would be to say he wants to raise taxes on high-income households and corporations.

  • Increase the corporate tax rate: The existing tax plan lowered the corporate rate from 35% to 21%. While Biden’s camp generally agrees 35% was too high, their proposal is to raise it to 28%.
  • Increase taxes on high earners: Biden would restore the 39.6% top marginal tax rate that was in effect prior to the 2018 tax year.
  • Phase out the pass-through deduction: Biden would phase out the 20% Qualified Business Income (QBI) deduction for taxpayers earning $400,000 or more.
  • Increase capital gains tax on high earners: Currently capital gains enjoy lower tax rates than ordinary income, but Biden’s proposal would change this for taxpayers earning more than $1 million.
  • Increase Social Security taxes: Biden would increase revenue to Social Security by imposing the 12.4% payroll tax (half of which is paid by the taxpayer) on all income above $400,000 in addition to the current structure of the tax.
  • Changes in estate planning: This portion of the proposed plan is less straightforward. On the one hand, you have the estate tax exemption of $11.58 million being reduced by 50%. On the other hand, there is less clarity regarding important items such as step-up in basis, business asset exemptions, capital gains, etc.

Clearly there will be changes, adjustments and alterations during the negotiation period prior to any changes being implemented. Also note that it is highly unlikely that any new laws will be made retroactively to 2020. Our best advice is to keep an open line of communication with your tax and financial advisors prior to making any updates to your estate planning.

The Green Group welcomes the opportunity to discuss your 2020 year-end tax-saving strategies with you by phone at 732.634.5100. In the meantime, stay well.

The post Proven Strategies: End-of-Year Tax-Saving Tips appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

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Helium Floats Away from Them at Woodbine to Become First Stakes Winner for Ironicus

Helium backed up a sharp and fast track-and-trip debut score Sept. 27 to dominate Sunday’s Display S. at Woodbine and become the first black-type winner for his freshman sire (by Distorted Humor). Off as the narrow 7-5 favorite over fellow impressive debut winner Maclean’s Posse, the bay broke well and took up a stalking spot off the inside as his chief market rival took heat from two foes through splits of :23.65 and :46.40. Helium advanced ominously while out wide heading for home, and found another gear when called upon in the stretch to float away from his foes at will while capping a huge weekend North of the border for his trainer.

For the racing week at Woodbine, Casse sent out one winner each on Thursday and Friday; five on Saturday including dominant ‘TDN Rising Star’ Souper Sensational (Curlin) in the filly equivalent of the Display, the Glorious Song S.; and three on Sunday. He now boasts more than triple as many wins as the next trainer in the Woodbine meet standings.

“He’s a pro, this horse is like an old soul,” said pilot Emma-Jayne Wilson, who was celebrating a three-win day of her own that also included a victory in the GI Northern Dancer Turf S. “First time he ran, we wanted to just get his legs and come running. He was up near the point and when I asked him to quicken, he quickened… So today, I was pretty confident. They set some decent fractions in front of him and he wasn’t fazed. Even the horse on the outside moved up and he was like ‘Oh, can I go now?’ I said ‘No, we’ll just wait.’… And sure enough, when I pulled the trigger–you’ve heard this said time and time again when you’re standing in this winner’s enclosure…when you pull the trigger and they go, they’re good horses. Well, that’s what got me here today.”

Helium’s dam produced a Classic Empire maker colt in 2019 and an Accelerate colt this term before being bred back to American Pharoah. Sire Ironicus, now a Claiborne resident, blossomed at ages four and five, annexing a trio of graded races on the grass for Shug McGaughey and Stuart Janney III before just missing in the 2016 GI Shadwell Turf Mile S.

DISPLAY S., C$101,600, Woodbine, 10-18, 2yo, 7f (AWT), 1:22.62, ft.
1–HELIUM, 120, c, 2, by Ironicus
                1st Dam: Thundering Emilia, by Thunder Gulch
                2nd Dam: Saint Emilia (Per), by Saint Ballado
                3rd Dam: Proud Emilia, by Proud Appeal
($55,000 Ylg ’19 FTKOCT). 1ST BLACK TYPE WIN. O-D. J. Stable
LLC; B-Teneri Farm Inc & Bernardo Alvarez Calderon (KY);
T-Mark E. Casse; J-Emma-Jayne Wilson. C$60,000. Lifetime
Record: 2-2-0-0, $77,763. *1/2 to Mighty Scarlett (Scat
Daddy), GSP, $225,860; Emilia’s Moon (Malibu Moon),
G1SW-Per.
2–Gospel Way, 120, g, 2, Brody’s Cause–Bible Belt, by Pulpit.
O-William B. Thompson, Jr.; B-William B. Thompson (VA);
T-Nathan Squires. C$20,000.
3–Decimator, 118, g, 2, The Big Beast–Ragtime Road, by
Dixieland Band. ($40,000 Ylg ’19 OBSOCT). O-Colebrook Farms;
B-Jimmie Ballinger (FL); T-Ashlee Brnjas. C$11,000.
Margins: 4 1/4, NK, 4. Odds: 1.40, 5.35, 56.85.
Also Ran: Exceed, Maclean’s Posse, Knight Kingdom, Souper Classy. Scratched: Rocket Reload. Click for the Equibase.com chart or VIDEO, sponsored by Fasig-Tipton.

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