Unraveling the Horse Empire of Joe Thomson
Ownership in The Red Mile
The Red Mile was once in danger of going under when Thomson was invited to participate in its rescue. At first, it seemed like a risky investment with no immediate return. However, they saw its long-term value, including its 137-acre property in downtown Lexington and the venerable Tattersalls Sale. Since then, they entered an agreement with Keeneland, acquired the right to have historical racing machines, and jointly formed the Lexington Selected Yearling Sale, which became the number one yearling sale in the world. Gaming revenue has boosted breeding and racing in Kentucky like never before.Thomson's decision to be part of this venture was not based on short-term gains but on the preservation of a historical and valuable asset. It shows his vision and commitment to the sport.
The transformation of The Red Mile from a potentially losing enterprise to a profitable one is a testament to Thomson's leadership and the power of working together.
Involvement in the Sales Company
Before the formation of Lexington Selected, Tattersalls and Kentucky Standardbred were in constant conflict. But after the merger, they became the number one standardbred yearling sale in the world. Everyone benefited, especially the customers who could enjoy a great week of racing and sales.This shows that cooperation within the industry is more beneficial than fighting. It led to the growth and success of the sales company.
Thomson's role in this transformation highlights his ability to bring people together and create a thriving business environment.
Breeding Farms in Multiple States
It all began with a chance conversation on a flight with Red Douds. Thomson started going to the races, bought some horses, and formed Whitehorse Farms. After selling the financial services company, they focused on their horse operations.Winbak Maryland became the hub of their horse activities, with a large mother farm and a stallion station nearby. They have a dedicated team including Jack Burke, Jeff Fout, Dr. Sarah Mackie, Becky Healey, Pat Woods, Noelle Duspriva, Elizabeth House, and Jose Cantaro.
The H2A program allows them to bring Mexican nationals to work on the farms, adding to their workforce and ensuring quality help.
Love for Horse Sales
Thomson loves horse sales. He is a people person and a horse person, and the sales bring together both. He is proud of his offerings and enjoys buying broodmares and yearlings.At the Harrisburg mixed sale, he is always on the lookout for value and pedigree. He has no set formula but looks for quality horses.
His passion for horse sales is evident in his enthusiasm and dedication to the business.
Racing and Horse Ownership
Thomson has a significant number of horses in training and racing. They are mostly homebreds that he believed might not have fetched a fair price at the sales.They have their own training facility and private trainer, Jeff Fout, which helps keep expenses down. However, he sees the lack of a viable middle market for yearlings as a major problem.
The increase in training costs and the rise of fractional ownership have affected the breeding industry, but Thomson remains committed to his horses and the sport.