As I replicate on my first yr as a newcomer within the horse racing trade, I want to take a second to precise my heartfelt gratitude to all those that have welcomed me into this sport. Entering into one thing unfamiliar could be daunting, particularly with the numerous funding I’ve made. The accomplishments I’ve achieved this yr are a direct results of the help and encouragement I’ve acquired from many people who’ve helped me set up my operations.
I consider it is usually vital to share my perspective on a few of the constructive developments occurring inside our trade.
Initially, I prolong heat needs for a Completely happy Thanksgiving.
This yr, I’m particularly grateful for my workforce at @ResRacingKY. It’s astonishing to assume that only a yr in the past, we had no farm and solely a handful of horses. Our farm employees has risen to the problem of supporting the fast progress of our operations, which now consists of greater than 200 Thoroughbreds in breeding, coaching, and energetic racing. Their dedication has been outstanding, and I’m significantly grateful for the contributions of Noel Murphy and Gavin O’Conner. Alongside our Thoroughbred actions, Chelsey Stone manages a Saddlebred breeding operation, an energetic rescue program, and my private favourite, the path horses that I taught myself to trip.
I take nice pleasure in my daughter Sarah, who shares our ardour for animals. Her management in our advertising and marketing and branding initiatives, in addition to her dedication to our rescue efforts for retired racehorses, has been exemplary.
I’d additionally like to spotlight a number of important achievements throughout the trade over the previous yr whereas recognizing that there’s nonetheless a lot work to be executed to succeed in our very best objectives. I hope these reflections encourage others to take daring actions to reinforce our sport and acknowledge the dedication of many people who’ve devoted their lives to its development.
This yr has marked a pivotal second for California racing, largely due to the help from the @1st_racing in launching the California Crown. This initiative has been an incredible success, demonstrating the outstanding outcomes we will obtain once we collaborate as an trade. Belinda (Stronach), Aidan (Butler), and their total workforce really care about horse racing and have invested hundreds of thousands to reinforce the fan expertise. I witnessed this firsthand on the Pegasus occasion in January and the Preakness. As a brand new participant, I’ve actively sought suggestions from members to discover potential enhancements. Whereas challenges stay, their dedication to our trade and the numerous sources they’ve dedicated to hold racing alive in California deserve commendation. By constructive dialogue, I’m assured they search additional enhancements, although they don’t have unilateral management over all choices.
Though the introduction of @HISA_US has encountered obstacles, now we have noticed a decline in on-track fatalities, and the trade’s adaptation to extra structured requirements is changing into clearer. I acknowledge that enhancements are mandatory, which is why I’ve volunteered to serve on HISA’s advisory board. I need them to succeed, as they’re probably the most influential physique within the U.S. racing panorama.
Profitable house owners proceed to spend money on the trade, usually with out searching for recognition or self-promotion on social media. The media has performed a vital function in selling the game and addressing complicated points, together with aftercare for horses and the implementation of HISA. Jayson Werth, after a profitable profession in baseball, has skilled the distinctive success of competing on the monitor. By people like Jayson, now we have a chance to share this narrative with many potential house owners, attracting additional funding. Moreover, Travis Kelce’s entry into horse possession might have a transformative impact on the game, just like what he has executed for the NFL.
This yr, horseplayers have loved higher entry to sports activities betting, due to initiatives from @FanDuel and @DraftKings, which have promoted deregulation on this space. Whereas there may be nonetheless room for enchancment, these developments have positively impacted the sport. We will additionally draw useful classes from profitable fashions in Australia and Japan concerning the administration of playing income, enabling horseplayers to broaden their operations and enhance profitability.
Organizations equivalent to @JockeyClub, @ChurchillDowns, @Keeneland, and @TheNYRA have performed an important function in collaborating with HISA to reinforce the protection of our equine athletes. As new management emerges, we should always rally behind them and amplify our collective voice to impact constructive change.
Important investments have additionally been made within the infrastructure of historic tracks equivalent to Churchill Downs, Keeneland, and Belmont Park, creating venues that can captivate the subsequent technology of horse racing followers. This funding is essential and should prolong to bettering backstretch situations to eradicate contamination points and improve residing requirements for each our equine athletes and the devoted staff who help them. Defending our collective funding means house owners might want to settle for elevated boarding charges to fund these enhancements.
We’re witnessing new house owners making substantial investments in bloodstock, racing, and, most significantly, fan engagement. That is important for our long-term success. The present fan expertise lacks transparency, and house owners, jockeys, and trainers have to be extra accessible to their fan base. Participating with followers will create extra alternatives for interplay and transparency. Some premium occasions have turn into prohibitively costly for on a regular basis followers, and we should create lodging to make these occasions extra accessible for households, equivalent to picnic areas within the infield and devoted seating.
I’m significantly grateful to Drew Fleming and the workforce at @BreedersCup for serving to us host our inaugural Resolute fan occasion.
Stallion farms are taking daring dangers by buying horses equivalent to Justify  , Complexity  , McKinzie  , and others. These investments are yielding distinctive monitor performers from first-time sires, thrilling racing followers, and offering returns for house owners and breeders dedicated to producing top-quality horses. This enterprise is important, and we should belief these farms, that are the spine of our trade, to successfully handle their stallion operations. A disciplined method to breeding high mares with confirmed bloodlines is important; nevertheless, introducing stallions with different bloodlines can diversify the gene pool, making it doable for a broader vary of consumers to take part in breeding operations and racing packages. I consider non-public stallions can even provide options for smaller breeders, just like fashions from the early twentieth century.
Furthermore, deregulation has enabled racing syndicates equivalent to @MyRacehorse to make horse possession accessible to a brand new demographic that after discovered it unattainable. We have to work with regulators to ascertain pointers for horse possession, as horses shouldn’t be labeled as securities. The present regulatory oversight stifles funding. Microshare possession can considerably broaden the fan expertise in a significant manner.
Teams like @LightUpRacing are facilitating discussions in regards to the constructive developments throughout the trade. Whereas there are all the time areas for enchancment, folks reply higher to constructive reinforcement than to unchecked complaints. Given the pervasive grievances in our society, it will be refreshing for horse racing to function a unifying power, positioning the trade for the subsequent century.
Having labored in enterprise for over 30 years, I’ve noticed that those that complain usually lack the drive to implement real enhancements. The true changemakers are the people devoted to enhancing our trade. I’ve had the privilege of assembly many devoted professionals in world equine operations, and it’s clear that the trade is stuffed with people who love and care deeply for these animals.
International gross sales have reached unprecedented heights, rising worth for house owners and breeders, due to organizations dedicated to selling well-bred horses and house owners keen to spend money on top-quality inventory. This financial mannequin has continued for 1000’s of years; client demand shapes the course of merchandise, and if customers have been dissatisfied, costs wouldn’t be rising.
Whereas challenges stay, significantly concerning Thoroughbred aftercare, I firmly consider that collaboration can guarantee long-term look after all our equine athletes. We should tackle the state of affairs in Louisiana, the place Thoroughbreds are traded as livestock with little regulation, necessitating accountability. I’m assured that with collective efforts, this challenge could be resolved.
Moreover, I consider we have to collaborate with racing officers to reassess the distribution of handbags for allowance and stakes races. Whereas prize cash within the U.S. is among the many highest globally, the present distribution primarily advantages the successful horse. The numerous disparity between first and second place makes it difficult to maintain a worthwhile racing operation. I suggest a extra equitable prize pool distribution, the place the highest share is split amongst members in stakes races to cowl not less than six weeks of coaching prices for every horse. This could embrace incentive funding from states, with the remaining prize cash cascading all the way down to lower-placed horses, making certain the winner receives not more than 50% of the pool. This method would offer quick aid to mid-level house owners who urgently want money move to proceed investing of their operations, significantly these with out intensive breeding operations to offset racing prices.
I agree on the need for management inside our sport. We’d like leaders of integrity who are usually not merely within the trade for self-promotion or to belittle others who’ve devoted their lives to a sport all of us cherish. Such divisive habits is counterproductive, particularly when we have to unite.
I encourage everybody to share their ideas and opinions and foster respectful dialogue. I don’t condone disrespectful habits and can take away people from my feed if they can not have interaction civilly.
I want every of you an exquisite Thanksgiving. Regardless of the challenges our trade and nation face, I stay optimistic. I consider our nice nation grants us the freedoms and alternatives that many have sacrificed their lives for, and it’s our obligation to honor their legacy by means of dedication and onerous work.
I’m reminded of JFK’s imaginative and prescient of touchdown on the moon inside a decade: “We select to go to the moon not as a result of it’s straightforward, however as a result of it’s onerous. This purpose will serve to arrange and measure the very best of our energies and expertise, as a result of this problem is one we’re keen to simply accept, one we’re unwilling to postpone, and one which we intend to win.”
I acknowledge that there are a lot of points I’ve not addressed on this message. I do know a lot of you might be devoted to creating change and caring for our equine athletes. I problem every of us to prioritize the collective trade over particular person pursuits, understanding that our success is determined by contributions from everybody. It’s straightforward to be self-centered; the onerous path is to work collaboratively. Have not we had sufficient of the previous?
It’s not working, so why not attempt a special method that encourages collaboration and help? I’ve no pleasure of authorship and can endorse any initiative that propels our trade ahead.
I additionally need to announce that I’ll personally fund a complete assessment of the trade, analyzing numerous points and figuring out potential options. We will be taught from industries which have efficiently navigated much more important challenges than ours. By learning their transformations, we will discover strategies to profit the complete trade.
For instance, the NFL has reworked into some of the profitable sporting operations globally, regardless of going through lawsuits over concussions and elevated scrutiny concerning gamers’ psychological well being. Equally, Formulation 1, after being in decline a decade in the past, has skilled fast progress and revitalization beneath new possession, enhancing each fan engagement and driver security.
I invite all trade members to help this assessment, and I pledge to share the findings for the good thing about the complete group.
I entered this trade to not win races, to not turn into a frontrunner or disruptor, however as a result of I like horse racing. I cherish the horses and revel in spending time with people who share my perception within the significance of horse racing for our financial system, significantly within the nice state of Kentucky. Whereas I’m aggressive and need to win races, I measure my success by the constructive impression now we have on the horses and the trade as an entire.
Some might doubt my sincerity, however I problem you to get to know me and choose me by my actions slightly than my phrases.
Could God bless you and your households this vacation season.
As soon as once more, I want you all a Completely happy Thanksgiving.
