‘Top Strong But Everything Else Was Tough This Year’ – Breeze-Up Market Reflections

Alice Haynes and Ado McGuinness, who have emblazoned the value on offer at the breeze-up sales by hitting the ground running with their respective purchases this season, have described shopping in that market as a hugely important aspect of their business. 

Well-known breeze-up consignor Eddie Linehan of Lackendarra Stables agrees with Haynes and McGuinness that the value has favoured the buyer when it has come to shopping at the middle to lower tiers of the market due to the amount of choice in that sector.

However, Linehan, who admitted that a lot of consignors were forced to overspend on yearlings last year, reported the top end of the European breeze-up market to be as lucrative as it ever has been after selling a Land Force (Ire) colt at Arqana for €250,000.

Eddie Linehan | Tattersalls 

He said, “The top end was good but everything else was tough this year. The middle to lower end of the market is very selective because buyers have so much choice and people are gone so time-based that, if you are not in the top 20 times, it's very difficult to get paid for a horse no matter how well you recommend it or like it.”

Linehan added, “We'd a couple of nice sales, sold some nice horses and horses who I think will turn out to be nice for small money, and then we'd a couple in between. But from our perspective, it's definitely a numbers game. I worked it out, four horses have basically paid for our year. Four out of 14 made a profit so far.”

There have been eight juvenile winners in Britain and Ireland who have been sourced at the breeze-ups already this season. Of the eight, Haynes has been responsible for three, including her Royal Ascot bound Golden Arrow (Ire) (Havana Grey {GB}) and Majestic Beauty (GB) (Havana Grey {GB}). 

McGuinness is the sole Irish trainer to have registered a winner with a juvenile purchased at the breeze-ups this season with Tiger Belle (Ire) (Cotai Glory {GB}) successful on debut at Cork last week. 

One of three juveniles that McGuinness picked up along with his nephew and assistant trainer Stephen Thorne for a new commercial arm of the Shamrock Thoroughbreds syndicate, the £70,000 purchase from Con Marnane's Bansha House Stables will run at Royal Ascot if she's not sold beforehand. 

McGuinness said, “We've had someone come to look at her already and, if we can sell her to keep her in the yard, that would be brilliant. We also had a call about the Goffs London Sale before Ascot, and that's a great sale, so all options are open at the minute. 

“Stephen runs the Shamrock Thoroughbreds syndicate and it was his idea to set up an investments syndicate to target the breeze-up sales. We didn't buy many yearlings last year, purely because we haven't had much luck at that down through the years, whereas we were very lucky with the few breezers we bought last year. So there has been a bit of a change of plan.

“Out of the three breezers we bought last year, we won with two and got one [Ti Sento (Ire) (Invincible Spirit {Ire})] away for an awful lot of money within a very short space of time.”

Ado McGuinness (left) and Stephen Thorne (right) | Tattersalls

He added, “We are looking for the very sharp two-year-olds and Donny and the Craven is where you'll find them. Everybody has the Ascot dream in their heads when they go to these sales and we're the same. 

“But we have a limit on what we are going to spend–like, €300,000 on a breeze-up horse, sure if he wins a maiden he might not be worth that. We haven't got the clients who are going to give that type of money for a horse where, win, lose or draw, it makes no difference to them. 

“We have to try and buy the horse that will be a realistic price and one we can sell on afterwards. When you set up an investment syndicate, you have to sell when the money is on the table and, if the next person makes more money than you afterwards, the best of luck to them.

“It's important for business because, say if you win a premier handicap worth €100,000, the trainer's share is only about €7,000. Then you have to go and pay tax on that. There's not a lot of money left over. We will still have our premier handicap horses and they are extremely important for our yard but selling is where it's at.”

While McGuinness admits that the backward three-year-old type is a much more valuable prospect in the long run, he described the earlier and speedier two-year-olds who are ready to rock and roll a much easier sell to owners.

He said, “In our situation, we want to get in and get out. That's our angle and it seems to be working so far. Don't get me wrong, I'd love a nice big immature horse for the backend, and you'd get well-rewarded if you can produce a nice horse that way, but it will take time. A lot of owners are not prepared to put in that time and money into a later developing type of horse and the Ascot dream is a much easier sell.”

Like McGuinness, Haynes goes looking for the horses who are ready to run at the breeze-ups. She also buys at every level and is therefore in the unique position to comment on the overall strength of the market this year. 

“It was nice to get Golden Arrow, who was an expensive breezer at Goffs UK for £200,000,” the trainer said. “You're not always that fortunate to get that type of an order. Normally I try to look at horses who haven't breezed as well as that because of the ground, or maybe they finished a little jarred up from the breeze, so I am usually finding a way in to secure a better price. 

“I find buying from the breeze-ups relatively straightforward and I like to buy the horses who are ready to go. That's been our policy and we've definitely done that this year, especially with our horses from Doncaster, with Hala Emaraaty (Ire) (Kodiac {GB}) winning as well. 

“He was the opposite end of the spectrum to Golden Arrow given he cost just £14,000 and then we had one in the middle in Majestic Beauty, who cost £90,000 from that same sale.”

Alice Haynes | Tattersalls

She added, “Day one at the Craven felt like a good time to be buying. There were also a few bargains to be had in the first few hours of the Guineas Sale as well. I know that a few consignors were at a loss because they had spent so much money on the yearlings that the value probably was with the buyers. Looking back now, I think there were too many horses in the Craven and it was the nice horses who made the money.”

Given the success Linehan enjoyed at Arqana, the Cork native admitted that he would love nothing more than to recruit a team of Arqana-type horses, but he knows that is an unrealistic business model. However, Linehan has vowed to be more selective at the yearling sales this year.

He said, “We were happy with the year as a whole. Having said that, I was banking on Arqana going well for us. Whether we were to finish up or down for the year, it all depended on the Arqana horses selling well, and I was just lucky that one of them clicked. 

“But, to be honest, the Land Force was as good a horse as I've ever had anything to do with. He breezed well and he's a gorgeous-looking horse. I'd say he's very good.”

Linehan added, “You'd love to be buying Arqana types at the yearling sales every year but, if you did that, you'd have some amount of money on the line and it would only take one bad year to break you. 

“But looking back on last year, I think everyone overpaid a little for yearlings. We probably gave 10 or 15 grand for too much for some horses last year but, at the time, you probably thought that they were worth it because everyone else was doing the same. 

“The main thing I have in my head going forward with the yearlings is that you have to be very selective. You have to really want the horse and pay as little as you can for it. That's the basic law of it all.”

The year is far from over for a lot of buyers and consignors with the Tattersalls Ireland Goresbridge Breeze-Up Sale taking place at Fairyhouse this week and Linehan is expecting a good trade. McGuinness and Haynes also reported that they plan on being active.

Linehan said, “I think Goresbridge will be a good sale. I was speaking with Paul Harley, who works for Tattersalls Ireland, and he said that there will be a lot of buyers from Scandinavia at the sales. 

“They played at that sale last year, so hopefully they will be back again, and that should help the middle to lower level and ensure a good clearance rate, which is needed. 

“A few very good horses have come out of Goresbridge and we sold a very nice filly called Coralillo (Ire) (Havana Grey {GB}) so hopefully it goes well. I'm looking forward to it.”

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New American Owners of Porta Fortuna Happy to Be Ascot-Bound

When Porta Fortuna (Ire) (Caravaggio {Ire}) won the G3 Coolmore Stud Irish EBF Fillies Sprint S. at Naas on Sunday, there was a collective cheer from her new partners across the pond.

Medallion Racing, a racing partnership put together by Taylor Made Farm, bought the two-year-old filly after her five-furlong win at the Curragh in April with partners Barry Fowler, Steve Weston and Dean Reeves. She took the Sunday stakes at Naas in just her second start, her first for the new partners, and now will head to Royal Ascot.

“We traditionally try to buy one to two horses a cycle from Europe,” said Medallion's Phillip Shelton. “We find that the prices are a little more reasonable, and you can find a horse with Grade I potential. We bought a filly named Papilio (Ire) (Starspangledbanner {Aus}) last year from Europe who won the Grade II Appalachian at Keeneland in April.”

“We loved the way this filly quickened on debut,” Shelton continued. “She was a bit green and never looked like she was going to win until she made up a couple of lengths in what felt like a few strides. The group stakes schedule gives you an immediate shot at group black type. In America there isn't a graded stakes for two-year-old fillies on grass until September.”

Originally owned by Annemarie O'Brien, Porta Fortuna stayed with her son, trainer Donnacha, despite the switch in owners.

“We work with Mark McStay of Avenue Bloodstock and we started discussing if there was a deal to be done. Luckily, we were able to get a deal done, and were happy to keep the filly with Donnacha,” said Shelton. “We couldn't do any of it without our partners who trust us to put them in on the right horses. Our Medallion partners have been great, as well as Steve Weston and Barry Fowler, who are two of our biggest supporters, and partners on Papilio as well. This is the first horse we have had with Dean Reeves, but he has been a Taylor Made customer in the past. All of our yearlings are broken at Two Springs Farm, of Chetley and Nellie Breeden's. Dean owns the farm and we got to spend some time together this winter talking about trying to find the right horse to partner on.”

“We thought she was a nice filly, but obviously you never expect to win a Group race with a filly that's had just one run,” O'Brien said. “It's nice to see her handle the step up in class well. She has a really good pedigree; back along there are a lot of good horses in it.”

As to which race they'll target at Ascot, “We'll leave that up to Donnacha,” said Shelton. “The race today was a stiff six furlongs and she quickened really well, so the Group 3 Albany could suit. She probably has enough pace for the Group 2 Queen Mary if we wanted to drop her back, but we will let Donnacha guide us on the best spot.”

Said O'Brien, “If she goes it will probably be for the Albany as she looked to get a stiff six furlongs here well. She handles all kinds of ground, so I wouldn't be worried either way. The American partners, they liked her, they invested in her and they were dead right. She's a valuable filly now.”

Added Shelton, “We are very excited. Royal Ascot is such a special meeting, and should be on everyone's racing bucket list. We'll be going this year with a filly we think has a shot to run very well.”

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Caravel Continues Training Towards Royal Ascot

Two-time Pennsylvania-bred Horse of the Year and GI Breeders' Cup Turf Sprint winner Caravel (Mizzen Mast) continues to train at Churchill Downs following her victory in the $300,000 Unbridled Sidney S. on Kentucky Oaks Day. Owned in partnership by Qatar Racing, Marc Detampel and Madaket Stables, Caravel is likely to make her next start at Royal Ascot in the G1 King's Stand S. Tuesday, June 20.

The Brad Cox-trainee galloped about 1 3/8 miles Friday under exercise rider Fernando Espinoza. Caravel would be Cox's first starter at Royal Ascot.

“One of the reasons we brought her back at the age of six was to point towards Royal Ascot,” Cox said. “She was in the November Sale at Keeneland and we took her out. We'll see how Royal Ascot goes and hope to get her back to the Breeders' Cup.”

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London Calling Weaver Pair

When the market determines the value of something, they call it “the going rate.” In the case of George Weaver's two juvenile winners at Gulfstream last Saturday, however, a recent pricing had meant that neither was going anywhere. No Nay Mets (Ire) (No Nay Never) was staying in the same ownership; and Crimson Advocate (Nyquist) was staying in the same barn. And now both, from going nowhere, are on their way to Royal Ascot next month.

No Nay Mets, in particular, has had an extraordinary month. On Apr. 17, he posted the fastest two-furlong work at the OBS Spring Sale, blitzing :20 4/5 for Ciaran Dunne. It looked very much as though a pinhooking experiment for Houston Astros third-baseman Alex Bregman, looking to finance his nascent program with a few colt sales, was going to prove a rewarding experience. The Bregman family, through agent Mike Akers, had exported this one for €180,000 from Arqana last August, as the first foal of Group-winning juvenile Etoile (War Front), herself out of a Classic-placed sibling to G1 Derby winner Pour Moi (Ire). In the event, however, bidding in Ocala stalled at $335,000. Dunne called Weaver and asked whether he could turn the horse round in time for the Royal Palm Juvenile S., a Royal Ascot qualifier carrying a $25,000 travel bursary.

Crimson Advocate | Ryan Thompson

Wavertree Stables had also overseen the education of Crimson Advocate, after her acquisition by a pinhooking partnership for $100,000 at the OBS October Yearling Sale. Weaver was asked to put her in the shop window on the racetrack, and she duly shaped with abundant promise when a green third in a dirt sprint at the Keeneland spring meet. At the price they were asking, however, Weaver put together a syndicate of his own patrons-for whom she then switched to turf, for the fillies' equivalent stake at Gulfstream.

Both horses broke fast and never looked back. Wesley Ward had the odds-on favorite in each race, and now Weaver is hoping to emulate his colleague's pathfinding success at Ascot.

“Ciaran called after the colt didn't make his reserve and asked if I thought I could get him ready for the stake,” Weaver recalls. “I quickly glanced at the calendar and saw I had about 15 days to get it done, but I said yes. It wasn't going to be a matter of physical fitness. Those 2-year-olds at the sales, they work the quarter in 20-and-change and gallop out strong. It was mostly just a matter of getting him educated at the gate.

“And he adapted very well. Every horse has their own personality and make-up, and he's just very classy and smart and willing. Every time we asked him to do something, he did it. The gate can be a little stressful for a lot of racehorses and many of them wouldn't handle an accelerated program. But I took him five or six times, and he never batted an eye.”

That reflects well both on this particular colt but also on Dunne, who like all 2-year-old consignors must strike that difficult balance between satisfying the market's addiction to a “bullet” and keeping a horse confident and progressive.

“But Ciaran's just an all-round horseman,” Weaver says. “He could train at the track if he wanted to. He's one of many that do a great job over there. I'm sure some people perhaps don't pay as much attention to the horse's mental wellbeing, and do the crazier stuff, but Ciaran's horses are well educated and ready to go on when he's done with them.”

Crimson Advocate has been in the barn rather longer, since around March 20. She was part of a package assembled with an eye on precocity and private resale, with the Horses of Racing Age Sale in July as safety barrier.

“She trained like she had some early speed and kind of shocked me at Keeneland, where I really expected her to be up on the pace,” Weaver says. “But in a 12-horse field, going four and half furlongs, she just got a bit scared and backed off the bridle for a moment. A couple of offers came in, and from my standpoint I thought, 'Hell, at that price I'd like to buy her for my own people.'

“I hadn't really seen the bottom of her in the morning, and hadn't breezed her on turf, so there was some guessing involved. But she'd shown me enough that, if they were going to sell, I'd rather keep her in the barn than not. It was a good deal for both sides. Luckily, these guys stepped up and got paid back pretty quickly.”

Weaver has made one previous foray to Ascot, sophomore sprinter Cyclogenesis (Stormy Atlantic) finishing down the field in 2015. While that horse proved not to be the right fit, the experience certainly left his trainer eager to try again.

“He was undefeated at the time,” Weaver reflects. “But just looking back-and hindsight's always 20-20-he was a big, heavy horse that was hard to keep fit. He needed company to breeze, and not really sound enough to take the kind of training he needed anyway. But I did think, 'Man, wouldn't it be cool to come back over here with something that had a good chance!' We went to Dubai early in my career, when I won the [G1] Golden Shaheen [with Saratoga County (Valid Expectations)] in 2005, and obviously had fun on that trip. But I'd never been to England and, while I'd heard about Ascot, there's just no way to explain it unless you can be there and take in the pageantry, the whole experience.”

Ward's best Ascot raiders have tended to leave the home defense standing at the gate, which obviously augurs well for the dash shown by Weaver's pair at Gulfstream. But he is under no illusions that any single dimension will suffice on its own.

George Weaver | Ryan Thompson

“They do have a great first gear and that gives them a little bit of an advantage, particularly with the 2-year-olds,” Weaver acknowledges. “But look, you need to bring a good horse there, whether they're quick out of the gate or not. A lot will also depend on the conditions, but we're hoping they get a fair chance to show what they can do because I think they've both earned a shot.”

The whole enterprise promises to be a stimulating new chapter for the respective owners-whether for Bregman, whose Turf adventure began only a year ago, or for the Crimson Adventure partnership, which features several barn stalwarts.

Some of those, in fact, are also involved in Pass The Champagne (Flatter), who finally nailed her graded stakes in the GII Ruffian S. two years after running Malathaat (Curlin) to a head in the GI Ashland S.

“She really deserved that,” Weaver says. “I'm ashamed it's taken me this long to get her to win one of those races, but after the [GI Kentucky] Oaks she needed time and then she only got back for one race last year before going back to the shelf. Now she's finally been able to put some races together in a row, and learned how to use her acceleration at the right time. I think that's the key. She's got a burst of speed that has to be timed correctly. But she's always been a really talented filly and we'll put her in a position to win some big races this year.”

The obvious next assignment is a return to Belmont for the GI Ogden Phipps S. With luck, perhaps, Pass The Champagne can take up the baton of Vekoma, who has naturally been greatly missed since his departure for Spendthrift. For now, however, it remains too early to know whether these Ascot raiders can build sufficiently on their promising foundations to help fill the void left by the GI Carter H. and GI Met Mile winner.

“At the very least, they're going to be nice 2-year-olds,” Weaver says. “Whether they go on, after five-eighths of a mile, we'll have to see. Not many horses that are so speedy and precocious do you see running a mile and a quarter the next year. But every horse is different. More Than Ready won at Keeneland as a 2-year-old and went on to a very prolific career.”

That was a horse Weaver saw develop at close quarters during six years as assistant to Todd Pletcher. Both men, of course, had previously been with D. Wayne Lukas. That Hall of Fame grounding means that Weaver was always going to feel comfortable with the kind of opportunity he seized, among 929 winners since 2002, with Vekoma.

“It does help to have that experience,” he accepts. “Being in Wayne's barn, initially, and then with Todd was certainly a blueprint. You recognize those horses when you get them, and know what to do. I'm forever grateful for the education I had, from [walking hots for] John Hennig right through to when I went out on my own.”

Like so many other graduates of the Lukas academy, Weaver has exulted in the rejuvenation of the old master at 87.

“I pull for him every time he runs that good mare,” he says of Secret Oath (Arrogate). “Wayne was a great coach and role model and obviously a lot of great trainers worked underneath him. I look back on those days fondly and I'm amazed and so proud that he's still doing it like he always has.”

The elixir, plainly, never loses its hold. So Vekoma has gone? You just go out and seek another one.

“You want horses in your barn that take you to those great races,” Weaver says. “As a trainer, when you get your hands on an elite racehorse, it's a whole different feel you get. They start to amaze you. It almost feels like it doesn't matter what you do: breeze once or twice, half-mile or mile. That's the type of horse Vekoma was. He was so determined, I'm not sure I know a horse that would beat him around one turn as a 4-year-old, when he was right.”

Yet there are times when even this all-consuming obsession is placed in chastening perspective; when even training a Vekoma is no more than getting one quadruped to run a circle faster than another. Last summer at Saratoga, a meet full of great memories for the couple, Weaver's wife and assistant Cindy suffered a serious brain injury in a training accident. Her ongoing rehabilitation has demanded immense fortitude and patience. There have been times when everything else has seemed trivial; but there have been times, too, when the horses have offered not just distraction but purpose.

“Initially, when she was unconscious-for a little over three weeks-it was hard to get through [the meet],” Weaver admits. “But at the same time I needed to focus on keeping the business going, keeping the pace going. And she moved on from there, she emerged, and she's slowly but surely getting better and better as time goes by. She's put a lot of work into it and, yes, the whole experience has put a lot of perspective on everything. You just can't help but be a changed person, both of us.

“We're sad that she can't go out to the barn and do what she's always done, which is love those horses and teach them their job and make them happy. She's just a terrific horse person. Luckily, a lot of her inspiration and lessons had rubbed off, on me and all our staff, and we try to carry that on while she's not there. And we always hope for the best. You never know what's going to happen in life, so you try to take whatever silver lining you can.”

And those consolations can abide, whether you win a maiden claimer or, indeed, find a couple of horses for Royal Ascot.

“I don't know,” Weaver says. “It's so hard to get to that winner's circle, sometimes it feels like at any level. And I think that that's part of the satisfaction. Because, man, you know how much goes into it, how much can go wrong. In that moment, watching your horse, there's just such majesty in the way they go out there and do what they know to do. It's something really rare to be a part of. Obviously I made a life out of that, and I can't imagine doing anything else.”

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