How Much Do Trainers Really Make?

Depending on where you sit, racing trainers either appear to be poor as church mice or living in luxury. The Racing Post's Stuart Riley embarked on a project earlier this year to learn more about what British trainers can actually expect to take home each month. As it turns out, there is no one solid answer that applies to all trainers and a lot of it comes down to their training fees.

There are four main categories of costs that trainers incur. The first, and most costly, is staff, which Riley estimates accounts for more than 40% of running costs for most trainers in the UK. The other three categories include variables such as feed, hay, bedding and medication; fixed overheads such as rent or mortgage repayments; and incidentals.

“I provide free accommodation and pay my lads £500 ($676.65) a week,” A Newmarket trainer said to Riley. “They start at 6am and finish at 11.20am. They come back for an hour and three-quarters in the afternoon and are done in the yard by 6pm. I've got 30 horses and six full-time staff, the rest are part-timers. It's £20 ($27.07) a lot for a good part-time rider, so if they do three lots that's £60 ($81.20).”

that trainer's estimated monthly costs for his 30-horse yard are £35,000 ($47,365.47), which doesn't account for travel or extra staffing costs to races.

The four main ways a trainer makes money are prize money shares, training fees, buying and selling horses, and transportation.

Many people think that most of a trainer's earnings comes from the prize money since race purses are known for getting into the millions, but that's not the reality for most trainers. Most trainers in the UK get a little less than 10% of winning prize money and only a little under 6% of placing prize money in a country where most races have purses closer to five figures. This amount alone would not be enough to keep an operation afloat.

There are trainers who can make a decent amount of their income from buying and selling horses as well as having a small transportation business on the side, but Riley found the biggest part of a trainer's bottom line is their training fees. These can range anywhere from £30 ($40.60) a day per horse up to £90 ($121.80), but the most trainers do not advertise what they charge. For a 30-horse yard, A trainer charging £40 ($54.13) a day, would make a £8,000 ($10,826.39) monthly profit, but on ly on the cost of basic daily operations – racing costs and incidentals eat into that quickly.

Read more at racingpost.com.

The Paulick Report examined business models for U.S. trainers in 2019 and found that for many, day rates don't carry much profit margin thanks to workman's comp insurance, payroll costs and startup costs for new trainers. Read that story here.

 

 

 

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Meet Shortened By Nearly One Third, Woodbine Handle Drops Only 10.5 Percent

Woodbine Entertainment announced Friday that the shortened 2020 Thoroughbred meet produced an all-sources handle of $462,041,545.76, down more than $50 million compared to 2019 ($516,189,419.44).

The 2020 Thoroughbred meet at Woodbine Racetrack included 96 race days as a result of starting late and finishing early. The COVID-19 pandemic postponed the start of the season from April 18 until June 6 and forced it to finish prematurely on Nov. 22, instead of Dec. 13 as scheduled. The shortened season included 35 less race days and 305 less races than in 2019.

“Like many businesses, the COVID-19 pandemic significantly impacted our business and the entire horse racing industry in Ontario,” said Jim Lawson, CEO, Woodbine Entertainment. “However, I am very proud of how we responded and look forward to working with all of our stakeholders as we continue to manage the ongoing impacts caused by the pandemic.”

The shortened season, which had 28 percent less race dates than scheduled (133 race days were originally scheduled), was a primary contributor to a 10.5 percent decrease in all-sources handle. The closure of Woodbine Racetrack and Woodbine Mohawk Park to the public, and the closure of Woodbine Entertainment's Champions' Teletheatre Network, were also significant contributors to the decrease in handle.

“The fact that we were able to limit the decrease in handle to 10.5 percent despite losing nearly a third of our scheduled race dates speaks to the strength of our Thoroughbred racing product and our extensive efforts and focus on our wagering business in response to the pandemic,” said Lawson.

In Woodbine Entertainment's Home Market Area, wagering on Woodbine Thoroughbred racing was $54,810,867.06, down 41 percent compared to last year. In 2019, Woodbine Racetrack contributed $28 million to the all-sources handle on Thoroughbred racing. This year, Woodbine Racetrack only contributed $124,000 to the overall handle due to being closed to the public for most of the year.

However, wagering on Woodbine Thoroughbred racing continued to be strong in Foreign Markets, generating $391,395,974.30 in all-sources handle, which is down less than three percent, despite running 27 percent fewer race cards.

Handle per race was also strong at $509,417.36, up 19.6 percent year over year.

Field size per race was 8.9, up from 8.2 the year prior. The eight and a half percent growth in field size was believed to be a result of the postponed start.

“With the start of the season being postponed more than a month, this allowed more horses to be ready for the start of the season which resulted in increased field sizes,” said Lawson. “While any growth in field size is always encouraging, it continues to be a focus for us as it is impacting our ability to maximize our wagering handle and support the purse payments.”

Although The 161st Queen's Plate was not able to welcome spectators this year, it generated the third highest handle in its history. The 13-race card generated a total of $14,532,678, including $3,494,496 on The Queen's Plate race that saw one-eyed Mighty Heart live up to his name, defeating his 13 rivals after going off at 13-1.

“Overall, we will reflect back on this season as a year of overcoming many challenges that will only strengthen and benefit our industry moving forward,” said Lawson.

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‘No One Else Like Him’: Cigar Remains Invincible For Jerry Bailey

Consistent success is a good way to earn sports immortality.

Consider the University of Miami Hurricanes' football team winning 34 straight games from 2000-03; the 2003-04 New England Patriots capturing 21 consecutive games over a span of two seasons; or the UCLA Bruins winning 88 straight games for the late John Wooden.

The ability to consistently remain victorious is the tallest of asks for any athlete.

When Allen Paulson's Hall of Famer Cigar won 16 straight races against the best horses of his generation, which at the time tied the all-time win streak set by Citation, he was cemented as an all-time great.

A total of 11 Grade 1 victories across six racetracks, a perfect 1995 season with ten victories [eight of which were Grade 1 wins], and a record-breaking lifetime bankroll of $9,999,815 highlight Cigar's long resume as one of the most noteworthy lists of accomplishments in horse racing history.

But the collection of trophies wasn't the primary factor in Hall of Fame jockey Jerry Bailey forming such a close bond with the two-time Horse of the Year.

“It was his personality. He was just so cool,” Bailey said. “Early on after his first two or three races, I knew he was something special.”

Bailey had been a household name in the racing world prior to Cigar's campaign, having ridden for 19 years at that point. A 56-time Grade 1-winning rider before becoming the regular rider of Cigar, Bailey had piloted 1993 Kentucky Derby winner Sea Hero, 1991 Preakness and Belmont winner Hansel as well as multiple Grade 1-winning millionaire Fit to Fight.

Yet, Bailey's connection with Cigar was not what one might imagine. In his words, it was very similar to the relationship between a doctor and a patient.

“It was difficult to form relationships with the horses, because you either get taken off a horse or take off to ride a different horse,” Bailey said. “There were few long-lasting relationships with the horses, so it was hard to have close relationships with them. That's how I looked at it. I liked horses a lot, but I didn't have relationships with them. I would go to work, do my job, ride the horses and then go home.”

But along came Cigar, and Bailey's love and appreciation for the horse saw new heights.

It didn't happen overnight, however.

Cigar broke his maiden on dirt at Hollywood Park in May 1993 for West Coast-based trainer Alex Hassinger, Jr., but raced on grass in each of his next seven starts. He was then transferred to the care of Hall of Fame trainer Bill Mott, who gave Bailey the leg up in Cigar's third start for new connections, finishing seventh on the grass in September 1994 at Belmont Park.

Hall of Fame riders Julie Krone and Mike Smith had a turn aboard Cigar for his next two starts before Bailey returned to the saddle.

“It was a case of musical jockeys,” Bailey said. “We all knew Bill thought that he was a better horse than he was showing.”

Cigar made a triumphant return to dirt under Smith in October 1994 and displayed astronomically different dimensions, garnering a 104 Beyer Speed Figure going a one-turn mile at Aqueduct. It would be the last time Cigar would race without Bailey on his back.

“I was riding at the Meadowlands that night when Mike called me up and said, 'He ran off the TV screen',” Bailey recalled. “Mike had committed to riding Devil His Due in the NYRA Mile. Ten days to two weeks before the they took entries for the race, I called up my agent [Bob Freize] and said, 'Make sure you talk to Bill Mott and tell him that we're available'. He won the NYRA Mile and that performance confirmed what Mike said to be true.”

Cigar strolled home a seven-length winner over Devil His Due in the 1994 NYRA Mile.

In January 1995, Cigar picked up where he left off with a Gulfstream allowance win and solidified his legitimacy with a 2 ½-length score in the Grade 1 Donn Handicap the next month.

After another Gulfstream Park triumph in the track's Grade 1 namesake race, Cigar took his show on the road, winning five more Grade 1s over four different tracks.

The ultimate test awaited Cigar in the year-end Grade 1 Breeders' Cup Classic, where he would put an 11-race win streak on the line over his home track of Belmont Park.

There were still several obstacles against him, however. He drew post 10 in the 11-horse field, which included accomplished runners Unaccounted For, Star Standard, defending champion Concern, Tinners Way, as well as Group 1 winner Halling from Europe. Cigar would also be asked to contest over a muddy main track, which he had never done before. All of his victories on the main track had been over fast going.

Cigar broke sharply from his outside post, and Bailey let him do a little running to secure a favorable position.

“From the ten post, I had to let him run a little bit to be four wide and not seven wide,” Bailey said.

But while Bailey wanted to save ground, Cigar had different plans. Bailey tried as hard as he could to keep him in behind horses, but Cigar was moving so aggressively that he had no choice but to let him make a premature move around the far turn.

“The feeling was going out of my fingers, they were completely numb. He was pulling that hard,” Bailey said. “From the gate, he had the idea, 'You said go, now let's go'. I saw Unaccounted For and just like that he went from the four-path to the rail.

“He beat most horses by the time the field approached the far turn,” Bailey added. “When you're out on the track, you just know. They were struggling to keep up and my horse is going 80 percent. Most horses he ran against he had beat by the time they got to the far turn. He was just so good and so talented. He had a high cruising speed. He wanted to be on the lead in every jump of the race and every point of call. He was basically a brilliant miler that Bill got to go a mile and a quarter.”

Cigar proved victorious by 2 1/2-lengths over L'Carriere in the Breeders' Cup Classic and was dubbed by NYRA track announcer Tom Durkin as the, “unconquerable, invincible, unbeatable Cigar” in one of the most iconic race calls of all time.

With 1995 Horse of the Year honors wrapped up, Cigar proved himself the best horse in the country. But Cigar was much more than that for Bailey. The newly minted Hall of Fame jockey found himself going above and beyond the “doctor-patient” type of relationship he had with previous horses, even taking his 3-year-old son Justin to visit the champion the morning after the Classic.

“I wanted to spend as much time with him as I could. I would go back to the barn just to be around him and just to watch him graze,” Bailey said. “I took Justin back to the barn the morning after and that was a special moment. He was so gentle and calm when he wasn't on the track.”

Despite the perfect 10-for-10 season, there were still some who doubted Cigar.

“There were naysayers,” Bailey said. “Some people thought, 'Okay, Cigar is legit, but what happens when another horse looks him in the eye?'”

Cigar answered that question with authority when he travelled to the Middle East for the inaugural running of the $4 million Dubai World Cup in March 1996. Cigar established clear command at the top of the stretch, but Soul of the Matter loomed large and powered his way to even terms.

But Bailey said he wasn't fazed, knowing how much his horse had left.

“I was trying to save as much as I could for as long as I could. When Soul of the Matter came right up to Cigar, I was still in reserve mode,” Bailey recalled. “I could feel that motor get going again. I knew that he might get by me, but he wasn't going to beat me. He might have gotten a head in front of me for a jump or two, but I could feel Cigar reengaging and I knew he had enough to do it.”

After a repeat win in the Massachusetts Handicap and a 3 ½-length victory in the specially-designed Arlington Citation Challenge at Arlington Park, Cigar tied the 16 consecutive win record of 1948 Triple Crown winner Citation. But Cigar's memorable run came to an end after shipping to California for the Grade 1 Pacific Classic when second to longshot Dare and Go.

“At that point, he had some miles in him. He went from Florida, to Dubai, to Massachusetts, to Chicago and now Del Mar,” Bailey said.

Bailey said his plan in the Pacific Classic was to keep Cigar in striking range to that year's Grade 1 Hollywood Gold Cup winner Siphon, who was sure to be the pacesetter.

But it was a little too close for comfort as Cigar gave way in mid-stretch, thus putting an end to his winning streak.

“I asked him more than he could do,” Bailey said. “For the next two to three years, I ran that race in my mind a hundred times a year.

“I rode a horse named Geri for Mott and Paulson in the Hollywood Gold Cup that year and lost to Siphon,” Bailey added. “Siphon got away early that day and it was my intention to not let him get away. In the Pacific Classic, Corey Nakatani was on Dramatic Gold and he was intent on trying to lock me in behind Siphon. I thought that at some point he would back off, but he didn't.”

Even 25 years later, Cigar holds the highest sentimental value of any horse Bailey has ridden throughout his 30-year career.

“I wasn't ever really all that nervous when I was on him before a race because he was just that good,” Bailey said. “Not only was he good, he was consistent. His style of running was the most you could ask for. He had great speed, acceleration, and there wasn't a situation in a race that he couldn't get you out of. He had so many tools and gears. Good horses can win over broken glass and he didn't care. I don't think he liked Suffolk all that well, but he still won over the surface twice.”

When Cigar retired at the end of 1996 following a third to Alphabet Soup in the Breeders' Cup Classic at Woodbine, Bailey had piloted the horse to 16 of his 19 lifetime victories.

“They just wound up being a good fit,” Mott said of Bailey and Cigar. “It seemed like he always put him in a position to win.”

Mott said Cigar's talent was a combination of both physical as and mental superiority.

“He had the ability, but he also had the mindset to do it,” said Mott. “He showed up every time. If he had any issues or he wasn't feeling good, he ran through it anyway. As Allen Jerkens said, 'the very good ones will win, even when it's not their best day.'”

But what resonated the most for Bailey was Cigar's gentle demeanor around the barn.

“The only other horse I've seen that was like that was [2015 Triple Crown winner] American Pharoah,” Bailey said. “He loved being showed off and being with people.”

After proving infertile as a stallion, Cigar spent the rest of his days being shown off to fans visiting the Hall of Champions at the Kentucky Horse Park, where he was stabled alongside all-time greats such as John Henry and Da Hoss until he passed in October 2014 at the age of 24.

“There really was no one else like him,” Bailey said.

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Weekend Lineup: Cigar Mile Featured At Aqueduct

The 32nd running of the Grade 1 Cigar Mile is the headliner of Saturday's card at Aqueduct which includes a pair of Grade 2, $150,000 nine-furlong events for juveniles in the Remsen and its filly counterpart, the Demoiselle which will offer 10-4-2-1 qualifying points to the top-four finishers towards the 2021 Kentucky Derby and Kentucky Oaks, respectively.

Live coverage of Cigar Mile Day will be available with America's Day at the Races on FS2 from 3:30 – 4:30 p.m. ET.

Saturday, Dec. 5

1:00 p.m.—$150,000 Grade 2 Remsen Stakes at Aqueduct on TVG

Already a winner at the nine-furlong distance, Known Agenda will attempt to give trainer Todd Pletcher a third Remsen triumph when heads up the five-horse field. Owned and bred by Vincent Viola's St. Elias Stable, Known Agenda rose to the occasion at second asking, breaking his maiden on Nov. 8 at Aqueduct over a fast main track. The chestnut son of Curlin and second offspring out of Grade 1-winner Byrama finished second to eventual stakes-winner Highly Motivated in his career debut on Sept. 27, going 6 ½ furlongs at Belmont Park.

Entries: https://www.equibase.com/static/entry/AQU120520USA4-EQB.html

2:07 p.m.—$100,000 Grade 3 Go for Wand Handicap at Aqueduct on TVG

Teresa Viola Racing Stables and St. Elias Stable's Nonna Madeline cuts back to one mile for the Go for Wand Handicap. Trained by Todd Pletcher, Nonna Madeline boasts a consistent record of 13-4-3-2 with purse earnings of $275,128. The 4-year-old Candy Ride (ARG) bay, bred in Kentucky by WinStar Farm, broke through in stakes company this summer when capturing the restricted Summer Colony at nine furlongs on the Saratoga Race Course main track.

Entries: https://www.equibase.com/static/entry/AQU120520USA6-EQB.html

3:44 p.m.—$150,000 Grade 2 Demoiselle Stakes at Aqueduct on FS2

Shadwell Stable's Malathaat, undefeated in two starts for trainer Todd Pletcher, will look to make the grade in Saturday's Demoiselle. Out of the Pletcher-trained Dreaming of Julia, who captured the 2012 Grade 1 Frizette at Belmont Park, Malathaat boasts a golden pedigree that saw the filly purchased for $1.05 million at the Keeneland September Yearling Sale. The precocious bay drew off to a 1 3/4-length score when sprinting seven furlongs in her Oct. 9 debut at Belmont Park and followed last out with a 7 3/4-length win in the Tempted at one mile.

Entries: https://www.equibase.com/static/entry/AQU120520USA9-EQB.html

4:13 p.m.—$250,000 Grade 1 Cigar Mile Handicap at Aqueduct on FS2

Performer has checked a lot of boxes while forging a five-race winning streak. Owned by Phipps Stable and Claiborne Farm, the 4-year-old son of Speightstown will face Grade 1 competition for the first time as part of a competitive nine-horse field in the Cigar Mile Handicap. Performer went 4-for-4 as a sophomore in 2019, including a victory in the Grade 3 Discovery going 1 1/8 miles last November at Aqueduct. Off an 11-month layoff, Performer picked up where he left off, registering a 1 3/4-length win over optional claimers in a one-turn mile on Oct. 17 at Belmont Park.

Entries: https://www.equibase.com/static/entry/AQU120520USA10-EQB.html

5:28 p.m.—$300,000 Grade 1 Starlet Stakes at Los Alamitos on TVG

Hall of Fame trainer Richard Mandella will seek his first win in the $300,000 Starlet Stakes at Los Alamitos when he sends out the undefeated Astute in the final Grade 1 of 2020 for 2-year-old fillies. Owned by LNJ Foxwoods, Astute, a daughter of Speightstown and the Langfuhr mare Discerning, went gate-to-wire in her Oct. 12 debut on turf, then moved to dirt and stretched out an extra eighth of a mile to win the 6 ½ furlong Desi Arnaz Stakes by 7 ½ lengths Nov. 14 at Del Mar.

Entries: https://www.equibase.com/static/entry/LRC120520USA5-EQB.html

Sunday, Dec. 6

5:30 p.m.—$100,000 Grade 3 Bayakoa Stakes at Los Alamitos on TVG

Having finished in a dead-heat for the win in the Tranquility Lake Stakes on August 28, Proud Emma and Message meet again in the Bayakoa Stakes going 1 1/16-miles. Trained by Bob Baffert, Message will be making her first start since that dead-heat triumph while Proud Emma enters off a seventh-place run in the Kathryn Crosby Stakes at Del Mar on Oct. 31.

Entries: https://www.equibase.com/static/entry/LRC120620USA5-EQB.html

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