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The Jockey Club President Jim Gagliano Joins TDN Writers’ Room

There are few positions more prominent or scrutinized in racing than president of The Jockey Club, and that goes double for years as tumultuous for the sport as 2019 and 2020 were. With a plethora of game-changing topics to discuss, The Jockey Club’s president and chief operations office Jim Gagliano joined the TDN Writers’ Room presented by Keeneland Wednesday in the show’s first episode of 2021. Appearing as the Green Group Guest of the Week, Gagliano discussed how the industry can potentially pay for the Horseracing Integrity and Safety Act, the rationale behind a 140-mare cap for stallions, racing’s inability to permanently do away with repeat-offender trainers and more.

“I don’t think it should come out of the horseplayers’ pockets,” Gagliano said of the HISA cost. “Every state funds its regulation differently. The problem that we faced when we were considering that matter, is there’s really no one-size-fits-all that we could push down to the states. The most important thing we want to do is make sure we capture first the current expenses, and then that those were brought forward. After that, the Authority will work with each state and through its racing commission to determine what the number is. I suggest the simplest way is to share [the costs] between the tracks and the horsemen. But honestly, there’s a lot of details to be considered.”

Now that the HISA is a reality, Gagliano was asked what else The Jockey Club will focus on in the coming years.

“There’s plenty,” he said. “How we market the sport. The opportunity of television, which thank goodness, during this pandemic, to see the amount of live televised hours of horse racing has been a godsend. We’ve talked about scheduling. We need to put the product in a place where it can have the best showcase. Other areas: HISA is going to put USADA into a role and there are now rules that will be in place that will change the sport, we believe. Investigations, that’s something that racing has not done very well over the last bunch of years. I anticipate The Jockey Club will continue to invest in those kinds of resources to make sure that things we don’t want to happen in our sport, don’t happen.”

Elsewhere on the show, in the West Point Thoroughbreds news segment, the crew reacted to some huge performances on the track over the past few weeks and the surprisingly positive handle numbers in 2020, plus host Joe Bianca announces that he and producer Patty Wolfe have won an Eclipse Award. Click here to watch the podcast; click here for the audio-only version.

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Brendan Walsh Joins Writers’ Room 2020 Wrap-Up Show

It’s been an eventful year to say the least, and Wednesday morning, the crew of the TDN Writers’ Room presented by Keeneland wrapped up the biggest stories of 2020 and looked forward to the promise of a new year with an assist from trainer Brendan Walsh. Calling in via Zoom as the Green Group Guest of the Week for the second time, Walsh talked about the highly-anticipated return of barn star Maxfield (Street Sense), what his hopes are for the implementation of the Horseracing Integrity and Safety Act and trainees he’s excited about sending out in 2021.

Maxfield, a blowout victor of the 2019 GI Claiborne Breeders’ Futurity, missed the rest of his 2-year-old season with an ankle injury and, after a victory in the GIII Matt Winn S. in his sophomore debut, had to be taken off the GI Kentucky Derby trail soon after with a condylar fracture. Returning to training in late September, he’s set to run for just the fourth time in Saturday’s Tenacious S. at Fair Grounds.

Asked about how he manages the mental toll of conditioning the talented but oft-injured Maxfield, Walsh said, “It’s been disappointing and frustrating each time [he’s gotten hurt], but the saving grace of it all is the fact that the horse could come back from when he’s gotten inured. There was always something in the future. As far as fractures go, it was non-displaced and a pretty easy fix. I’ve had lots of horses with fractures like this and the recovery rate is actually very high for them. So yeah, it was disappointing, especially this year, because it meant missing a potential chance for the Derby, but we always knew that eventually we were going to get another crack at it late in the game.”

The conversation turned to the expected passage of the HISA in 2021 and how important it would be to establish the kind of centralized regulatory body that the Irish-born Walsh dealt with in the British Horseracing Authority.

“I think we’ve made big, big leaps forward this year,” he said. “Last time I was on the show, we touched on this and I wasn’t totally confident about it happening. But it looks now like there’s a very good chance it will happen. I think it’s highly essential that it happens for racing here. We’ve made a lot of advances in various states with medication policies, etc. but it’s very important to have a uniform policy all over the country. It’s going to make it easier on everybody because people will have a clearer picture on medications we are and aren’t allowed to use. That’s what we’d all like to have.”

Elsewhere on the show, the writers assessed where the industry stands with its most pressing issues such as the FBI indictments, HISA, equine safety and handle trends and how they expect and want those stories to develop in 2021. In the West Point Thoroughbreds news segment, they talked about the demise of greyhound racing and how horse racing’s powers that be may be finally acting just in time to save their industry. Then they discussed what horses they’re most looking forward to seeing next year and relived the best of host Joe Bianca’s 2020 rants. Click here to watch the podcast; click here for the audio-only version.

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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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West Point Founder Terry Finley Joins TDN Writers’ Room

Founder, president and CEO of West Point Thoroughbreds Terry Finley joined the TDN Writers’ Room presented by Keeneland Wednesday to discuss an array of industry issues and potential solutions. Calling in via Zoom as the Green Group Guest of the Week, Finley provided his insights on how the game can better attract new customers, whether or not racing’s drug problem is finally going to be cleaned up, the evolution of the owner partnership and much more.

Asked about how his friends who are casual observers of racing view the sport, Finley said he thinks the perception is improving thanks to the industry’s belated but united response to its equine safety and drug crises.

“The people we want to influence and impact are, by and large, reasonable, and all they want is for us to take these things that we’re not proud of as an industry seriously,” he said. “And I think we’ve shown over the last two years that we get it. We got our heads picked up. So I think they appreciate that. People come into the business and give us all a chance to show that we’re doing everything we can to give them a fair shot. I think we’re really starting to catch their attention in a sensible way and I’d like to think that we’re on the way to continuing to grow. I’m optimistic that we’re on the right track. I appreciate that a number of people and organizations have come to the table and compromised. When we’ve done that in the past, good things have happened, and I really think good things are on the way for us if we stay at the table and don’t get mad at each other. We all get frustrated at the pace of change in our business, but it’s all about an evolution.”

The discussion then turned to March’s FBI indictments and how Finley thinks the alleged cheating scandals have affected participation in the sport.

“I really hope that there are some trainers and vets and other people in our industry who haven’t slept in the last eight months because they’re waiting for that phone call,” he said. “We’ve got to take our medicine as an industry, because we let it happen. I think we got beat in seven graded stakes races by those two turkeys, where we finished second or third behind Jason Servis or Jorge Navarro. So when I’ve talked to people in the last eight months about the Horseracing Integrity and Safety Act, I’ve said, ‘Listen, they’ve taken money out of my pocket and my partners’ pockets.’ We’ve lost partners in the last eight months because they said the industry has had a long time to clean this up. Now we finally did it and I was very proud of the job that The Jockey Club did. We’re going to keep after this. That’s the only thing I can see that’s going to be effective long term, is to just stay vigilant and try to identify the guys who are taking an edge and cheating.”

Elsewhere on the show, the writers talked about the latest coronavirus-related interruptions to the racing calendar, previewed a big holiday weekend of graded stakes, and in the spirit of Thanksgiving, revealed what they’re thankful for in racing. Click here to watch the podcast, click here for the audio-only version.

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