Churchill Purses Get $3.1M Boost From HHR Revenue

Before the first race is run Saturday on Opening Night of its 38-day Spring Meet, Churchill Downs Racetrack announced that purses will be raised an additional $3.1 million thanks to revenue from the historical racing machines at Derby City Gaming.

Total purses offered in the first condition book for horsemen, which covers 190 races over 19 dates through Thursday, May 27, have grown to $22,822,100 for a daily average of $1,201,163. That represents a 5.9% increase from the previously published $21,544,000.

Maiden special weight races are now worth $115,000 during Kentucky Derby Week and $100,000 post-Derby, which is up from the previously published $106,000 and $91,000, respectively. Kentucky Derby Week allowance races will range from $118,000 to $125,000 and $102,000 to $109,000 after Derby. They were $109,000 to $116,000 and $93,000 to $100,000, respectively.

Additionally, the purses for 25 stakes races were boosted. A trio of stakes received $50,000 increases: the $150,000 Audubon for 3-year-olds at 1 1/8 miles on turf on May 29; Grade II, $300,000 Fleur de Lis for fillies and mares at 1 1/8 miles on June 26; and Grade II, $300,000 Wise Dan for 4-year-olds and up at 1 1/16 miles on turf June 26. Fourteen stakes originally worth $125,000 were boosted $25,000 to $150,000 and eight overnight stakes races received $10,000 increases.

The 40-race Spring Meet stakes schedule now totals $14.02 million.

The growth has been driven by handle on historical racing machines at Derby City Gaming, which is located at 4520 Poplar Level Road.

“Over the last 10 years, historical horse racing has allowed our equine industry to flourish, increasing purses and creating a more competitive racing circuit,” said Churchill Downs Racetrack President Mike Anderson. “It has led to new jobs, economic growth and tourism.”

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De Meric, Finley, Miles, Eisaman Join TDN Writers’ Room On Scene at OBS

OCALA, FL–There's been a palpable good feeling all week at OBS for the auction house's marquee Spring 2-Year-Old Sale, and you need look no further than the full parking lot to explain why. Business is booming, but perhaps equally responsible for the positive vibes is the easing of coronavirus restrictions as the country rapidly becomes vaccinated, which means old friends seeing and hugging each other for the first time in a long time. Wednesday morning, Joe Bianca and Jon Green talked about that and much more with four consignors and buyers in the first on-scene episode of TDN Writers' Room presented by Keeneland.

Joining the set, posted up at the tiki bar near the walking ring, were Green Group Guests of the Week Barry “Doc” Eisaman, Randy Miles, Nick de Meric and Terry Finley, all of whom exuded the optimism felt from economic and personal standpoints on the grounds compared to last year's delayed, angst-filled sale.

“The weight is just lifted off our back,” said Miles, whose six-horse consignment includes Hip 1099, an Into Mischief filly expected to bring a large return on the sale's final day after breezing a furlong in :9 4/5. “We had no idea what was going to happen last year. We were trying to sell horses privately because we didn't know what the market was going to be like. And a big part of this business is not about the money, it's about all of our friends. It's just so nice to be out here for this two-week period and all of our friends are here. It's like a big party. Everybody is in a great mood, and it's just refreshing. If we can get the racetracks back to this, it'll be so much fun. The financial stuff always takes care of itself. But the people are what makes it fun.”

Nick de Meric's de Meric Sales has come to OBS typically loaded with promising juveniles, which bore out later Wednesday in the ring when a Quality Road colt (hip 381, :10 flat breeze) from his shedrow hammered to Speedway Stable for a thus-far sale-topping $1.5 million.

“As we all know, if this business teaches you nothing else it teaches you to be humble, but we do have a couple of potential stars,” de Meric said. “We have a fabulous Quality Road, we have a couple of Into Mischiefs that we think an awful lot of. Curlin, Candy Ride, we've got some names represented in the consignment and the horses performed well and vetted well after their performance, and people seem to be lining up well in a few spots.”

de Meric also commented on the good feeling around the grounds, saying, “I think the atmosphere is diametrically opposed to last year. People have been on lockdown so long and had restricted travel so long, they're just ready to come out and play. And what better place to play than a 2-year-old sale? There is definitely a feeling of optimism in the air.”

The proximity to next Saturday's GI Kentucky Derby, also back on its normal calendar spot this year, also helped that optimism. West Point Thoroughbreds' CEO Finley bought a pair of babies Tuesday and spoke about the motivation of the impending Derby to find the next star.

“You look at the top 25 horses that are in contention for the Derby and they don't all come from day one in September, they don't all cost $600,000,” he said. “They come from all over the spectrum. So I think that's what keeps everybody [motivated]. The fact that you can come here and get a great athlete to take a shot with to try to get to the big races.”

Eisaman was this week's Minnesota Racehorse Engagement Project Story of the Week after he and wife Shari's Eisaman Equine sold a homebred colt by Gun Runner (Hip 118, :10 flat breeze) for an easily session-topping $850,000 to Michael Lund Petersen in Tuesday's sale opener.

“My wife is the brains behind the management of our mares and it's extremely rewarding for her,” he said. “She picked Gun Runner, she helped select that mare, so to have one we raised from a little puppy to yesterday was very good. Every year when we leave the farm and go into the sale, there are young horses who are doing everything quite well and he was one of them. But you can never really predict at that point that he'd catch on with the right buyers and be that successful. After he got here, trained here, the breeze show happened and he galloped out so well, showed so much poise, you begin to evolve into understanding this, but our expectations were never in the range that he brought [Tuesday]. So it was a good day for us, our family, my wife and our broodmares.”

Elsewhere on the show, Bianca and Green reacted to the outstanding battle in the GI Apple Blossom H., talked about the reversal of disqualifications for Bob Baffert trainees Charlatan (Speightstown) and Gamine (Into Mischief) and, in the West Point Thoroughbreds news segment, broke down the implications of New Jersey's strict new whip rules. Click here to watch the podcast; click here for the audio-only version.

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‘Ruth’-Like Performance: Ribchester 2yo Filly a Rising Star for Wesley Ward at Keeneland

Ruthin (GB) (f, 2, Ribchester {Ire}–Selinka {GB}, by Selkirk), a 350,000gns TATOCT yearling purchase, kicked off her career with a 'TDN Rising Star' performance sprinting on the Keeneland lawn for Wesley Ward Thursday.

The rail-drawn, 3-5 favorite shot out to the front and sped through an opening quarter in :21.91. She let it out a notch approaching the top of the stretch, and, despite racing greenly on her left lead for most of the stretch, was geared down late en route to a flashy, six-length victory over Artos (Ire) (Kodiac {GB}).

The final time for 5 1/2 furlongs over the “good” going was 1:04.95.

Freshman sire Ribchester, the European champion miler in 2016 and 2017, stands at Darley's Kildangan Stud. Ruthin is his first winner and was his priciest, first-crop yearling to switch hands in 2020.

Ruthin, a daughter of two-time stakes winner in England Selinka, is a half-sister to Hit The Bid (GB) (Exceed And Excel {Aus}), MGSW-Ire, GSP-UAE, GSP-Eng, $410,031. Selinka brought 100,000gns from John and Jake Warren in foal to Showcasing (GB) at the 2015 TATDEC sale. She is also represented by a 2021 Land Force (Ire) colt. This is the extended female family of G1 Prix Maurice de Gheest winner Bold Edge (GB).

1st-Keeneland, $40,960, Msw, 4-22, 2yo, f, 5 1/2fT, 1:04.95, gd, 6 lengths.
RUTHIN (GB), f, 2, by Ribchester (Ire)
                1st Dam: Selinka (GB) (MSW-Eng, $119,968), by Selkirk
                2nd Dam: Lady Links (GB), by Bahamian Bounty (GB)
                3rd Dam: Sparky's Song (GB), by Electric (GB)
Sales history: 350,000gns Ylg '20 TATOCT. Lifetime Record: 1-1-0-0, $21,720. Click for the Equibase.com chart, the free Equineline.com catalogue-style pedigree or the VIDEO, sponsored by TVG.
O-Stonestreet Stables LLC; B-Highclere Stud & Jake Warren Ltd (GB); T-Wesley A. Ward.

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Trustee Alleges Zayat Transferred $200K+ Just Before Bankruptcy Filing

In an effort to claw back at least $200,000 in transfers by Ahmed Zayat that allegedly constitute “fraudulent conveyance” because they occurred just prior Zayat's filing for Chapter 7 bankruptcy protection, the trustee in charge of vetting Zayat's case filed two complaints in federal court Wednesday that aim to recover that money so it might instead go toward paying creditors.

Zayat claims to be $19 million in debt, and a massive chunk of that money is owed to Thoroughbred-related individuals and entities.

According to documentation filed Apr. 21 in United States Bankruptcy Court (District of New Jersey) by trustee Donald Biase, “The Transfer[s] were made with actual intent to hinder, delay, or defraud creditors of the Debtor.”

As an exhibit, Biase attached a copy of a Sept. 3, 2020, domestic wire transfer for $175,000 between two law firms.

Zayat's name is not listed on that TD Bank document. But the trustee, presumably through forensic accounting practices, is alleging that “the Debtor's books and records disclose” that Zayat orchestrated the transaction, which was allegedly made “without the Debtor receiving a reasonably equivalent value in exchange.”

The recipient of the money was listed as Cohen Tauber Spievack & Wagener, a New York-based law firm. According to a posting from 2015 on that company's website, the firm has represented Zayat in court and “advises Zayat Stables on transactional matters and sponsorship deals related to American Pharoah.”

The timing of that $175,000 transaction is notable because five days later, Zayat filed his petition for bankruptcy protection, signing off on paperwork that alleged he only had $314.22 to his name.

In a separate court complaint, the trustee also wants $28,848 back from New York University (NYU) that Zayat allegedly paid to the school within 90 days prior to his bankruptcy filing.

Zayat has four children, and they all either graduated from or are/were attending NYU. The youngest of the siblings, Emma, just enrolled at the school in 2020, according to her LinkedIn profile (Emma was the inspiration for the name of Littleprincessemma, the dam of American Pharoah).

Even if that money was paid for tuition or a pre-existing debt, the complaint states that (among a list of other legal reasons) the trustee can try to reclaim those funds because “the Debtor was insolvent at the time and [NYU] had reasonable cause to believe that the Debtor was insolvent.”

In the cases of both allegedly fraudulent transfers, the trustee is going after the money not by chasing Zayat himself for it, but by listing both the law firm and NYU as defendants, meaning they would be on the hook for repayment if the judge rules in the trustee's favor.

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