‘Plain Ben’ Jones: The Hard-Knock Horseman Behind A Historic Derby Reign

This year, as last year, much will likely be made of trainer Bob Baffert's quest to keep up with the Joneses – specifically trainer Ben A. Jones. Last year, Baffert tied Jones' record for the number of Kentucky Derbies won by a single trainer with six, and this year, he will be hoping Medina Spirit will break that record.

For those who came to racing after Jones' death in 1961, however, his exemplary career as a horseman may be largely lost in the history books. Who was this Derby king whose reign seems to be coming to a close?

Firstly, it's clear that any mention of Ben A. Jones is followed immediately by a reference to his son Horace A. “Jimmy” Jones. For much of Ben's career, Jimmy was his assistant, and it's not always entirely clear where one man's contributions to a horse ended and the other's began. After Ben had died, many writers claimed it was really Jimmy who trained several of Ben's most prominent runners, but it's unclear if this was speculation or the word of Jimmy himself. (Either way, between the Jones barn and the Baffert barn, it does make one wonder if all really excellent assistants must be named Jimmy.) It does seem that at least one of Ben's six Derby winners – Citation in 1948 – was primarily trained by Jimmy, who gave the reins to Ben, who by then had transitioned to general manager at Calumet, in order to allow him the chance at equaling the record of Herbert J. “Derby Dick” Thompson, who had four. Ben would later resume training and win two more.

By all accounts, Ben was one of those people born with an uncanny eye for horses – spotting a good one that could be improved, and figuring out what that horse needed, free of any obligation to conventional ideas. Often called “Plain Ben,” Jones had the look of a cowboy. He went everywhere in a white Stetson and boots, a hulking man who walked with a slight limp due to a football injury he got at Colorado Agriculture College. In the indomitable volume 'Wild Ride,' author Ann Hagedorn Auerbach described him as a man who could clear a bar with his fists but chose instead to live by his wits.

Jones had been born to a banker whose primary agricultural interest was in cattle. He had been expected to take over the bank, but preferred the allure of the racetrack – the thrill of the racing, but also the gambling and ensuing fistfights. The family cattle farm had a rough track on it, which enabled locals to run match races and gave Jones a venue to ease into training. Jones often bet heavily on his own horses, which may have been part of the reason he spent his early years living hand to mouth.

Jones became a tough old horseman, taking the only horses he could get in those days – cheap stock – and making them work for him in dusty bull ring tracks. Writing in his book, 'Masters of the Turf,' Ed Bowen described a legend that seemed to sum up the epitome of a hardboot horseman. A horse trader came through the small Missouri town where Jones lived with a lame horse and told Jones he'd sell the horse for $100 with the condition that whenever he next passed through town, he had the option of buying the horse back for $150. Jones got the mare, who was called Black Beauty, well again and when he heard the trader was headed back for town, he drove a nail slightly into one of her hooves to create a temporary lameness. The trader moved on, and Jones got to keep the horse.

Print accounts mention Jones' propensity for gambling – he had to be called out of a dice game to be informed his wife was in labor to deliver Jimmy – but speculate little on how much of an impact it may have had on his business. By the time the Great Depression hit, hard times got harder for “the Jones boys.” When department store owner Herbert Woolf offered Ben a private training job for his Woolford Farm, the stability was too good to pass up. Ben appointed Jimmy, then 26, to disperse the stable and join him as his assistant.

With his own stock and with his clients' stock, Jones found success dealing in families. He was skilled (or possibly very lucky) at hitching his prospects to a stallion who would go on to produce subsequent generations of successful runners or working his way through a series of siblings and half-siblings. Before Jones became an in-house trainer, that stallion had been Seth, who kept Jones among the nation's top breeders through the 1920s. At Woolford, that horse was Insco, who sired Lawrin, Unerring, and Inscoelda. Lawrin was the first horse to take Jones to the big time, but he was unfazed, keeping the horse taped together through an intense 2-year-old campaign and a sophomore season that saw him beat older rivals before he won the 1938 Kentucky Derby.

Lawrin struggled with his feet, and Jones described a regimen of soaking the foot to draw out an abscess, followed by treatments of iodine and turpentine to harden the hoof again. Jones swapped Lawrin between a bar shoe and running barefoot.

Despite the success he found at Woolford, Jones parted ways with Woolf in 1939. Although Jones would publicly say the split was amiable, a feature in Turf and Sport Digest suggested there was some practical animosity there.

“…Woolf was really not happy with him, probably because it was a combination of two heavy gamblers,” wrote Tom Shehan. “Under the arrangement Ben's money was automatically down whenever he recommended Woolf bet.”

Auerbach would write that the offer from Warren Wright to become the private trainer for Calumet came almost immediately, but Jones took some time to think about it. Woolf may have been a difficult client, but Wright had a reputation for going through trainers and for being something of a backseat driver. Wright doubled his initial offer and agreed to bring Jimmy on as well.

When the Joneses arrived, the remnants of Wright's program were still in full force. He was ordering quantities of vitamins for the horses, which he insisted be given to them. Jones kept throwing them in the muck heap and eventually ran a sales rep for the vitamin company out of his barn. Wright had also required previous trainers not to break horses until they were three, with the belief it would make them stronger runners. Wright, who earlier in his career had specialized in bringing on 2-year-olds, put an end to that.

Jones' instincts would prove right of course, as he brought Calumet into its golden age on the racetrack. Five of his Derby wins – Whirlaway ('41), Pensive ('44), Citation ('48), Ponder ('49), and Hill Gail came for the devil red Calumet silks. There were other legendary names on his resume who too didn't win the Derby, including Twilight Tear. He was leading trainer in North America by earnings in 1941, 1943, 1944, and 1952.

But behind all those successes was the same hard knock horseman's mind – practical and practiced – that had gotten him his start on the bush tracks. At a time when many Thoroughbreds got the winter off, Jones horses raced through the year and took long, slow gallops. They took the long route to the track for work, and exercise riders were instructed to let them graze along the way home, adding flesh to runners that many considered a little rotund for racehorses already.

The best-known Ben Jones story seems to be his work with Whirlaway, who seems to have been deemed semi-psychotic by the people who dealt with him in his early career. “Wacky Whiry” had a habit of bolting to the outside of the racetrack, seemingly at random. He had had a stone kicked into one eye during the Hopeful Stakes when he was a 2-year-old, but Jones mostly dismissed his antics as a lack of intelligence. Jones fashioned a one-eyed blinker for the colt, reasoning that he wouldn't go where he couldn't see. He cut a very small hole in the right eye cover and asked jockey Eddie Arcaro to climb aboard for a test during a morning workout. Jones sat on his palomino pony several feet off the rail in the homestretch, forcing Arcaro to take Whirlaway through a narrow gap at full speed to ensure he really wouldn't react to anything on his outside. The moment the chestnut sailed between Jones and the rail proved the equipment worked, but certainly took a few years off the two men's lives.

In his Turf and Sport profile, Shehan recalled Jones' patience with Coaltown, who he also saddled in the 1948 Kentucky Derby. After the colt collapsed in a workout as a 2-year-old, veterinarians discovered he had some sort of issue caused by swollen glands around his chin which impeded his breathing. Jones fashioned a piece of equipment he called a “Throttle Hood” which wrapped around the glands in question, much like a bandage, to trap in heat and try to reduce swelling. He also showed Coaltown's exercise rider how to change his riding style to lengthen Coaltown's head and neck carriage, reducing pressure on the glands. Shehan also alleged that Coaltown may have been more talented than Citation (a theory with which the Joneses did not agree) and that his loss to Citation in the Derby was not a coincidence, but rather driven by Jones' suspicions that he couldn't stay healthy throughout a Triple Crown campaign like his stablemate or that he may pass on his respiratory issues in the breeding shed.

Ponder was another triumph because the Jones boys had to nurse him back to health after he was stabbed in the chest with a pitchfork as a 2-year-old with the help of well-known veterinarian Dr. Alex Harthill.

Ben Jones died in 1961 due to complications from diabetes. Jimmy departed Calumet in 1964, the same year as the death of Bull Lea, knowing that the sun had mostly set on the farm's golden era. Both men would be inducted into the Hall of Fame in back-to-back years in 1958 and 1959. Jimmy spent time as the director of racing at Monmouth Park for a time, before heading back to the family homeplace in Parnell, Missouri. He died in 2001, the winner of two Derbies himself and champion trainer by earnings for five seasons.

Though their careers were certainly bigger than a handful of May Saturdays, Jimmy said he never forgot how meaningful those days were to him and his father.

“I'll tell you what the Derby meant to us,” Jimmy said to the Louisville Courier-Journal's Jennie Rees in 1995. “When I was a little kid and we raced around the fairs and little meetings, we talked about the Derby all the time … that was the subject of conversation day in and day out. I was just a kid; my father was about 30. We didn't have any money much … But that was our main hope in life. Just automatic. Kentucky Derby. Then to have it come up like it did was unbelievable.”

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‘Maybe It’s A Good Thing’: Derby Trainers Unconcerned About This Year’s Lasix Rules

The general consensus around the Churchill Downs backstretch this week has been that requiring hopefuls on the Road to the Kentucky Derby to race without Lasix has not been a major hindrance for the year's 3-year-old crop. 

Precisely half of this year's Kentucky Derby field has never raced on Lasix, while all 20 entrants completed their final prep without the diuretic medication, which aids in preventing exercise-induced pulmonary hemorrhage (EIPH) in racehorses. 

“This may not be a popular opinion,” warned David Carroll, assistant to dual Hall of Fame trainer Mark Casse. “I was pro-Lasix, but having seen that now, you know what, maybe it's a good thing. Maybe no race-day medication is a good thing. I think a lot of things we do, we're creatures of habit, and we have a tendency to do things because that's the way we've always done it, not the way it's meant to be, and not what's best for the horse.”

“I would say it's an individual thing,” said two-time Kentucky Derby-winning trainer Doug O'Neill. “And in an ideal world, if the horse doesn't have any kind of tendency to have any kind of nosebleed, running without Lasix, they do seem to come out of the races with more energy, and they get back to their normal exercise energy quicker. So they recover quicker, I think, without Lasix.”

Many trainers spoke out against the restriction of Lasix use for years before a ban was implemented for 2-year-old runners in many jurisdictions last year. Now, both the Triple Crown series and the Breeders' Cup Challenge series, as well as the World Championship races themselves, are all scheduled to be conducted without race-day Lasix. In several jurisdictions, all graded stakes races will be held Lasix-free.

“It's something, I think, we all in this sport kind of knew it was coming,” O'Neill said. “Just – if you look around the world, most of the big races around the world are run Lasix-free. So as much as I was apprehensive, like I think a lot of horsemen were and are, I think the longer we've done it, the more able to – I've been able to adjust.”

Some trainers have altered their pre-race and pre-workout regimens, while others say they have not.

“Obviously last year we started with the 2-year-olds not being on Lasix, so we really didn't do anything particularly different with them at all,” said Carroll. “From a personal perspective, we had a few that showed some traces (of EIPH), but no bad cases.”

“We have a little bit different diet leading up to works and races,” O'Neill said. “Just, we're more thoughtful of not having much in their stomach for exercise, which probably, we should have been thinking of that. Anyways, so just try to have them a little bit more light going into their works and races. It's definitely been something that we've been more conscientious of with no Lasix.”

While the majority of this year's Kentucky Derby trainers agreed that the Lasix ban wasn't harmful to the current 3-year-old crop, they remain concerned about requiring older horses, those who are used to running with Lasix, to now race without it.

“I think with this particular crop, for my cohort, it's not been an issue,” said Hall of Fame nominee Todd Pletcher. “I can't speak for everyone else, but I think some of the bigger concerns are around older horses that maybe have been running on Lasix for three, four, five years and then have to come off with it. But bleeding can be an issue for horses, with or without Lasix.”

“You have some horses that struggle with that,” echoed John Sadler. “I've had some older horses, and I have to say no more stakes for them. They've got to run in the easier races. They weren't capable of running without Lasix.”

“I do feel bad for the horses who have been racing on it for years, and now have to stop,” Carroll concluded. “For older horses now that have been racing on it for the last three to four years, I think that's really hard. I wish they'd made it more of a progression.”

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‘Always Bet the Gray:’ The History Behind Derby Favorite Essential Quality’s Silver Coat

A gray Thoroughbred is often a head-turner, not only for its sterling coat but for its relative rarity. Comprising only a small percentage of the breed, they are outnumbered by their bay, brown and chestnut stablemates.

This year, though, you might just see a garland of roses placed around a gray colt's neck.

Kentucky Derby favorite Essential Quality has passed every test given to him so far, from winning the championship race for 2-year-old colts to securing victories in both his prep races for the Derby this spring. He stands above all the rest, and though anything might happen in the Run for the Roses, he looks to have the best chance of anyone to win.

But of 146 victors of the Kentucky Derby, only eight have been gray, and it's been some years since a gray was even favored in the race. Could Essential Quality become winner number nine?

Gray horses are so infrequent in fields that the superstition “Always bet the gray” has been whispered for decades, and those following this wisdom on the first Saturday in May may just reap the rewards.

What's in a gray?

Different breeds of horses have different varieties and proportions of coat colors. There are some breeds, like the famous Lipizzaners of Austria, that are dominated by gray horses.

In order to breed a gray horse, however, you need at least one gray parent. A gray horse won't just pop up seemingly out of nowhere, even if a grandparent or great-grandparent was that color.

There's a lot more science to it — a matter of dominant and recessive genes — but suffice it to say that every gray Thoroughbred has an unbroken gray lineage that can be traced back through their pedigree through one or both parents.

The Thoroughbred was created in England in the late 17th Century as a cross between imported stallions from the Middle East and North Africa and local broodmare stock. The endurance of these desert stallions, combined with the speed of the mares, created a horse that could carry its speed over a distance.

There are three “foundation sires” of the breed often cited – the Darley Arabian, the Godolphin Arabian, and the Byerley Turk. But these are merely the three whose direct male lines still live on. There were other stallions, too, that shaped the breed – and some of them were gray.

The Alcock Arabian is chief among these early silver horses. He got his color from his mother, who in turn received the gray gene from her father, Hautboy, and his father, an imported stallion from Turkey. The famous breeder Federico Tesio called him the “fourth foundation sire” due to his immense influence on the Thoroughbred.

Of course, Tesio also compared the inheritance of the gray coat in Thoroughbreds to a “disease.” And thanks to Alcock's Arabian, that disease keeps on spreading.

His son, Crab, is responsible for much of that success. Crab was a nice racehorse who won a pair of prestigious races and then took his prowess to stud. He went on to sire daughters that produced the gray lines which lead us to the present day.

We're not quite there yet, though. Before Essential Quality, there were other gray superstars, and many of them owe their gray coat to perhaps the greatest of them all – The Tetrarch.

The Tetrarch, King for a Gray 

Bred in Ireland and raced there and in England, The Tetrarch was a phenom on the track, winning all seven of his races and claiming the title of champion 2-year-old colt. His racing career was cut short due to leg problems, but luckily for his legacy, there was the breeding shed.

The colt was nicknamed “The Spotted Wonder,” for the black and white dapples that peppered his silver coat. The black spots were inherited from Bend Or, grandsire of his dam. The emergence of white dapples, though, was somewhat of a surprise. Even today, gray horses exhibiting these white dapples are said to have “Tetrarch spots.”

The Tetrarch was the product of a line of gray stallions from France, son of Roi Herode, who in turn was son of Le Samaritain, son of Le Sancy. They are the preeminent gray Thoroughbreds found in pedigrees at the turn of the century. If a silver horse isn't descended from The Tetrarch, they are, in all likelihood, descended from Roi Herode.

Keeping in mind Thoroughbred coat color dynamics, these horses were always products of at least one gray parent. And if you trace The Tetrarch's pedigree back through the generations, you'll wind up at Crab – and more than once, at that.

So the Tetrarch went to stud, and just as he was brilliant as a racehorse, he was brilliant as a sire, too. His sons and daughters won many stakes races, but the most influential in the long run was the “Flying Filly,” Mumtaz Mahal. Like her father, she, too, was a champion 2-year-old — and she, too, was gray.

She's the tail-female ancestor of several of the breed's most influential horses, including Nasrullah and Mahmoud, and it's because of the latter that we can finally turn our attention to the United States and the Kentucky Derby.

Star-Spangled grays – from revolution to Roses

Thoroughbred horses first came to America in the colonial era, and the breed began to take shape after the American Revolution and throughout the 19th Century. One of the first leading sires in the United States was Medley, a son of silver stallion Gimcrack, with the blood of Crab and Hautboy in his veins.

Medley was a successful racehorse in England, and in 1784, he was sent to Virginia to stand at stud. There, he produced many winners — some gray, some not — and left a considerable mark on early American bloodlines.

But that influence waned in the wake of bay and chestnut stallions to come. Diomed soon became preeminent sire in America, followed by horses like Leviathan, Glencoe, and the dominant Lexington, whose bay portrait still graces the cover of the Blood-Horse's Stallion Register. Medley's blood lived on, but his silver coat did not.

In fact, it wasn't until 1946 that a gray horse was again top sire in the United States. That just happened to be Mahmoud, grandson of Mumtaz Mahal and great-grandson of The Tetrarch. Ten years earlier, he had won the Derby at Epsom Downs, and was purchased to stand at stud in America in 1940.

He went on to sire numerous stakes winners, and his daughter Almahmoud is the direct female ancestor of Derby winners Northern Dancer and Sunday Silence. (They're not gray, but they're still quite important.)

Even considering Mahmoud's success at stud, a gray horse had still never won the Kentucky Derby. That would change soon enough, when Determine won the race in 1954. It nearly came a year sooner, when the legendary Native Dancer went to post.

Native Dancer

Native Dancer had raced eleven times prior to the Derby and had never been defeated. In a sea of bays and chestnuts, he stood mostly alone. He was one of those that didn't get his gray gene from The Tetrarch; his female line consisted of silver mares all the way back to his great-great-grandmother La Grisette, a daughter of Roi Herode.

While Mahmoud was making a name for himself as a sire, Native Dancer was leaving it all on the track. He broke from the gate as the favorite in the Kentucky Derby, and nearing the finish line, he was making up considerable ground on 25-1 shot Dark Star. Surely he'd get up in time?

It was not to be. Native Dancer lost the roses by a head. He went on to add the Preakness and Belmont, among other prestigious races, to his list of victories; the Derby was the only race he ever lost.

The next year, Determine won the Kentucky Derby. This gray colt's mother was a daughter of Mahmoud. In 1962, his son Decidedly became a Derby winner, too, and they remain one of the few father-son pairs to both win the race.

Despite the Derby loss, Native Dancer achieved racing immortality through not only his track record but his sons and daughters as well. You'd be hard-pressed not to find him in a modern racehorse's pedigree — gray or not.

Caro, Tapit, and the gray-volution 

Mahmoud's influence lived on in subsequent gray Kentucky Derby winners Spectacular Bid (1979) and Gato Del Sol (1982). The former even came close to winning the Triple Crown, coming up short in the final race, the Belmont Stakes. Lady's Secret, a daughter of Secretariat, was a gray champion who traced her bloodlines back to Native Dancer.

But Mahmoud and Native Dancer were only two stallions. Even with their great influence, along with other descendants of The Tetrarch and Mumtaz Mahal, gray horses were still vastly outnumbered in the United States.

The color received a boost in the form of Caro, an Irish-bred, French-raced stallion who was sent to stand at stud in America in 1979. The move paid off nearly immediately. His first American crop boasted the gray Cozzene, Breeders' Cup Mile winner and breed-shaper in his own right. Other stakes winners soon followed.

His greatest claim to fame, though, came perhaps in 1988, when Winning Colors won the Kentucky Derby. Winning Colors was not only a gray horse, but a female horse – only the third filly to win the Derby in its storied history. A gray filly winning the Run for the Roses was the statistical equivalent of finding a needle in a haystack, and yet, she beat the odds.

Holy Bull won the FSS In Reality as a 2-year-old, shown here with Mike Smith and his trainer Warren A. Croll, Jr.

From there, more and more grays shone on the national racing stage. Holy Bull, who was descended from Mahmoud not once but twice, didn't win the Derby but won pretty much everything else. Silver Charm, another descendant of Mahmoud, nearly claimed the Triple Crown.

Monarchos, with Caro in his pedigree, took the roses in 2001, and Holy Bull's gray son Giacomo won the race at gargantuan odds of 50-1 in 2005.

That was the last time a gray horse won the Derby, but in the years since, the tide has turned even further in favor of the color. A year before, the silver Tapit finished a distant ninth on the first Saturday in May, but he's been nearly unbeatable as a stallion.

Since Mahmoud in 1946, just a few gray horses have been named leading sires in the United States – the aforementioned Cozzene in 1996, and El Prado in 2002. Tapit, meanwhile, was leading sire in 2014 … and 2015 … and 2016, too. Unbridled's Song, another gray, followed him up in 2017.

Like Native Dancer, Tapit's female line is all gray. In fact, you have to go back nine generations of silver mares before you get to Silver Beauty, a granddaughter of The Tetrarch. Back from The Tetrarch, you get to the French gray stallions. And from them, you get back to Crab, and the Alcock Arabian.

And that's where this story comes full circle, because Tapit is the father of 2021 Kentucky Derby favorite Essential Quality.

The historic odds may be stacked against the silver colt, but the betting odds sure won't be. And it's not as if gray horses have been completely absent from contention in the Run for the Roses in recent years. Since Giacomo, they have finished second, third or fourth on several occasions.

The genetic legacy that Essential Quality brings to his Derby favoritism is beyond compelling. When he enters the starting gate, the blood of Mahmoud and Mumtaz Mahal and Roi Herode will course through his veins, and perhaps the ghosts of Native Dancer and Winning Colors will be at his side, too.

But maybe that's getting too philosophical.

Maybe we should keep it simple, follow track superstition, and just bet the gray.

Emily White is a writer and photographer in the Philadelphia area with racing and breeding interests in the Mid-Atlantic region.

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View From The Eighth Pole: Ownership Of Oaks Contender Crazy Beautiful Has Horse Industry Looking The Other Way

When post positions are drawn Monday for the 147th running of the Grade 1 Kentucky Oaks, one of the leading contenders will be Grade 2 Gulfstream Park Oaks winner Crazy Beautiful, a Liam's Map filly trained by Kenny McPeek, who bought her as agent for $250,000 at the 2019 Fasig-Tipton Kentucky October Yearling Sale.

Within weeks of that sale, the man who would become Crazy Beautiful's owner – Amer Abdulaziz of Phoenix Thoroughbred III – would be identified under sworn testimony in federal court as a conspirator to launder some of the estimated $4 billion scammed from people around the globe in a cryptocurrency ponzi scheme known as OneCoin.

Dubai-based Abdulaziz was named by Konstantin Ignatov, whose sister, Ruja Ignatova, is said to be the mastermind behind OneCoin (she has disappeared but the story of her and OneCoin is told in the BBC podcast The Missing CryptoQueen). Konstanin Ignatov pleaded guilty to charges of fraud and money laundering and is now cooperating with the U.S. attorney for the Southern District of New York that is prosecuting several cases related to OneCoin.

Ignatov said that not only was the Phoenix Thoroughbred founder laundering OneCoin funds, Abdulaziz stole 100 million euros from the operation and spent the money on racehorses, according to investigative journalist Matthew Russell Lee, who reports on courtroom activities at the Southern District of New York.

Ignatov testified in the trial of attorney Mark Scott, who was convicted of money laundering and bank fraud in connection with OneCoin and like Ignatov is awaiting sentencing.

When Scott was arrested and interviewed by the FBI in September 2018, he admitted to closing a OneCoin fund in Ireland and wiring the money to a “financial adviser” in Dubai named “Amar something” who ran the Phoenix Investment Fund.

The government showed that more than 185 million euros were transferred to Phoenix between February and April 2017. In a forfeiture letter to the judge in the Mark Scott trial in which the government is seeking $393 million in funds from Scott, acting U.S. Attorney Audrey Strauss could not have been more clear in her assessment of Abdulaziz.

She wrote: “Scott subsequently transferred approximately 185,000,000 euros from the Bank of Ireland to the accounts of another one of Ruja's money launderers named Aamer Abdulaziz.”

A government exhibit in the Mark Scott trial showed the various wire transfers involving OneCoin funds

Through an agent, Abdulaziz first starting buying high-priced horses in early 2017 at the Fasig-Tipton Florida Sale of 2-year-olds in training. By year's end he had spent more than $20 million and was building a massive worldwide portfolio of bloodstock holdings that included horses for both racing and breeding.

That spending continued into 2018 when Abdulaziz' profile was elevated beyond the insular world of bloodstock sales. Phoenix Thoroughbred struck a deal to have NFL star tight end Rob Gronkowski take part ownership of a namesake colt, Gronkowski, running in that year's Belmont Stakes won by Triple Crown winner Justify.

 

By now, nearly everyone in racing had heard of the big-spending Phoenix operation, which Abdulaziz had hailed as the “world's first regulated Thoroughbred fund” that was designed to show a profitable return to its investors. Except no one seemed to have any idea who the actual investors were or why they would put their trust in someone who was a relative unknown until he started spending tens of millions of dollars to buy horses.

The following March while in Dubai for the World Cup, British television host Nick Luck conducted an interview with Abdulaziz, who directed some comments to skeptics.

“People are always asking, 'Who are these guys? Are they serious? Are they going to be there next year?'” Abdulaziz said. “I can tell you now, on your show, we are here to stay.”

Luck responded: “The other question they always ask is, 'Where's the money coming from?'”

“It's a registered fund,” said Abdulaziz. “Transparency is very important. If anyone has any doubt we are more than happy to have them come and sit with us in our office. … There are third party regulators.”

It has since been reported that Phoenix was not regulated in Luxembourg, as Abdulaziz has said.

“Most of the people we have managed to bring to the fund so far are pension funds, insurance companies or high net worth individuals from Europe, America or Australia,” Abdulaziz told Luck. “We would like to give our investors the opportunity to come to the races, network with a lot of people, open doors for them.”

Yet those investors were never identified or seen at major racing events where Phoenix horses competed. When Crazy Beautiful won the Gulfstream Park Oaks, trainer McPeek confirmed, none of the people in the crowded winner's circle were affiliated with Phoenix Thoroughbred.

None of the people in the crowded winner's circle after Crazy Beautiful's Gulfstream Park Oaks victory was affiliated with Phoenix Thoroughbred, according to trainer Kenny McPeek

Abdulaziz told Luck in 2019 that Phoenix has a half dozen other funds, including a hospitality fund worth “about a billion dollars.” He said that he has another fund “where I have all the basketball players involved with me in the U.S.”

Since the initial revelations about Phoenix and Abdulaziz were first made in United States federal court proceedings, horse racing regulators around the world have begun to restrict the operation's activities. According to published reports, authorities in France, the United Kingdom and even his home country, the United Arab Emirates, have said Phoenix can not race horses there. Most recently, Australian authorities said they will freeze any prize money won by Phoenix out of concerns over where its funds came from. Sources have said several horse sales in Europe will no longer accept Abdulaziz' money.

No U.S. racing regulators or racetracks have yet banned Phoenix and major sales companies Fasig-Tipton and Keeneland have not said Abdulaziz and his money are not welcome.

The standard answer from these organizations is: Amer Abdulaziz has not been indicted or convicted of any crime.

And that is true. It is also true that Abdulaziz has vehemently denied any illegal activity and has threatened to take legal action against anyone who says otherwise.

It is also true that Amer Abdulaziz, who once was so prominent at American racetracks and sales grounds, has not traveled to the United States since these OneCoin money laundering revelations were made in federal court. He knows the fate that very likely awaits him. If federal charges were to be filed against Abdulaziz, there is no extradition treaty between the United Arab Emirates and the United States, so Dubai serves as a safe haven for him.

Class-action suits have been filed against OneCoin and more criminal cases are pending. This case is not going anywhere soon. Will Phoenix Thoroughbred assets get dragged into the case? That's anyone's guess.

American regulators and Thoroughbred industry businesses have been looking the other way ever since the money laundering allegations were first made against Abdulaziz and Phoenix in November 2019. It's not a good look for an industry that routinely seems to value money over ethics.

That's my view from the eighth pole.

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