Gratitude and Growth in the Horse Racing World
Warm Wishes for Thanksgiving
This year, Thanksgiving holds a special place in my heart. I extend my warmest wishes to all. A year ago, our journey in the horse racing industry was just beginning. We had no farm and a mere handful of horses. Yet, with the unwavering dedication of our farm staff, we have witnessed remarkable growth. Now, our operations encompass over 200 Thoroughbreds in breeding, training, and active racing. Noel Murphy and Gavin O’Connor have been instrumental in this journey, and their contributions are truly remarkable. Alongside our Thoroughbred activities, Chelsey manages a Saddlebred breeding operation, an active rescue program, and my personal favorite – the trail horses that I have taught myself to ride.My daughter Sarah also shares our passion for animals. Her leadership in our marketing and branding initiatives, along with her unwavering commitment to our rescue efforts for retired racehorses, has set an exemplary standard.
California Racing: A Pivotal Moment
This year has been a turning point for California racing, largely due to the support from the @StronachGroup in launching the California Crown. This initiative has been a resounding success, showcasing the power of collaboration within our industry. Belinda, Adrian, and their entire team are deeply committed to horse racing and have invested millions to enhance the fan experience. I witnessed this firsthand at the Pegasus event in January and the Preakness. As a new participant, I have actively sought feedback from members to explore potential improvements. While challenges persist, their dedication and the significant resources they have poured into keeping racing alive in California deserve our utmost praise. Through constructive dialogue, I am confident that they will continue to seek further enhancements, although they do not have sole control over all decisions.The introduction of @HISA_US has faced obstacles, but we have observed a decline in on-track fatalities, and the industry’s adaptation to more structured standards is becoming more evident. I have volunteered to serve on HISA’s advisory board as I believe in their mission to make a positive impact on the U.S. racing landscape.
Investments in the Industry
Successful owners continue to invest in the horse racing industry, often without seeking recognition or self-promotion on social media. The media has played a crucial role in promoting the sport and addressing complex issues such as aftercare for horses and the implementation of HISA. Jayson Werth, after a successful career in baseball, has found a unique sense of fulfillment on the track. His story serves as an inspiration for many potential owners, attracting further investment. Similarly, Travis Kelce’s entry into horse ownership has the potential to bring a transformative effect to the sport, just as he has done in the NFL.This year, horseplayers have benefited from initiatives by @FanDuel and @DraftKings, which have promoted deregulation in the betting area. While there is still room for improvement, these developments have had a positive impact on the game. We can also learn valuable lessons from successful models in Australia and Japan regarding the management of gambling revenue, enabling horseplayers to expand their operations and increase profitability.
Infrastructure Investments and Fan Engagement
Organizations like @JockeyClub, @ChurchillDowns, @Keeneland, and @TheNYRA have collaborated with HISA to enhance the safety of our equine athletes. Significant investments have been made in the infrastructure of historic tracks like Churchill Downs, Keeneland, and Belmont, creating venues that will captivate the next generation of horse racing fans. However, we must also focus on improving backstretch conditions to eliminate contamination issues and enhance the living standards of our equine athletes and the dedicated workers who support them. Protecting our collective investment means owners will need to accept increased boarding rates to fund these improvements.We are witnessing new owners making substantial investments in bloodstock, racing, and, most importantly, fan engagement. The current fan experience lacks transparency, and owners, jockeys, and trainers need to be more accessible to their fan base. We should create accommodations such as picnic areas in the infield and dedicated seating to make premium events more accessible for families.
Stallion Farms and Deregulation
Stallion farms are taking bold risks by acquiring horses like Justify, Complexity, McKinzie, and others. These investments have yielded exceptional track performers from first-time sires, exciting racing fans and providing returns for owners and breeders committed to producing top-quality horses. A disciplined approach to breeding top mares with proven bloodlines is essential, but introducing stallions with alternative bloodlines can diversify the gene pool, making it possible for a broader range of buyers to participate in breeding operations and racing programs. Private stallions can also offer solutions for smaller breeders, similar to models from the early 20th century.Deregulation has enabled racing syndicates such as @MyRacehorse to make horse ownership accessible to a new demographic. We need to work with regulators to establish guidelines for horse ownership as horses should not be classified as securities. Micro-share ownership can significantly broaden the fan experience.
Positive Industry Discussions
Groups like @LightUpRacing are facilitating important discussions about the positive developments within the industry. While there is always room for improvement, focusing on positive reinforcement can lead to better results. In a society filled with grievances, horse racing has the potential to serve as a unifying force, positioning the industry for the next century.After working in business for over 30 years, I have observed that those who complain often lack the drive to implement genuine improvements. The real changemakers are the individuals dedicated to enhancing our industry. I have had the privilege of meeting many dedicated professionals in global equine operations, and it is clear that the industry is filled with individuals who love and care deeply for these animals.
Global Sales and Thoroughbred Aftercare
Global sales have reached unprecedented heights, increasing value for owners and breeders. Organizations committed to promoting well-bred horses and owners willing to invest in top-quality stock have played a crucial role. While challenges remain, particularly regarding Thoroughbred aftercare, I firmly believe that collaboration can ensure long-term care for all our equine athletes. We must address the situation in Louisiana, where Thoroughbreds are traded as livestock with little regulation. Through collective efforts, we can find solutions to this issue.We also need to collaborate with racing officials to reassess the distribution of purses for allowance and stakes races. While prize money in the U.S. is among the highest globally, the current distribution primarily benefits the winning horse. A more equitable prize pool distribution, where the top share is divided among participants in stakes races to cover at least six weeks of training costs for each horse, would provide immediate relief to mid-level owners. This approach would ensure that the winner receives no more than 50% of the pool, with the remaining prize money cascading down to lower-placed horses.
The Need for Leadership
We need leaders of integrity within our sport who are dedicated to its growth rather than self-promotion or belittling others. Such divisive behavior is counterproductive when we need to unite. I encourage everyone to share their thoughts and opinions and foster respectful dialogue. I will remove individuals from my feed if they cannot engage civilly.I entered this industry with a love for horse racing and a desire to make a positive impact. I measure my success by the well-being of the horses and the industry as a whole. Some may doubt my sincerity, but I invite you to get to know me through my actions.
May God bless you and your families this holiday season. Once again, I wish you all a Happy Thanksgiving.