Send Lawyers, Guns and Money

Linda Rice Wins Five in a Day,  Jose Ortiz Wins Nonstop

The late Warren Zevon once sang an impassioned plea to urgently “send lawyers, guns and money” as a solution to whatever jam he found himself in.   While I am not sure anyone sent guns, I do know that the racing industry sent both lawyers and money to convene in Saratoga Springs last week to address issues in the sport. 

Money

The money came to the annual Fasig-Tipton Select Yearling Sales in the form of investment dollars chasing the Triple Crown stars of 2028. Spurred on by general inflation worries, beneficial income tax treatment, the growing prevalence of well-heeled partnerships and the usual dose of bravado and ego, the sales broke all records. The numbers were astounding. Total sales were up 17% to $118 million; the average price rose to over $770,000; the median price was above $500,000 and an eye-popping 35 horses sold for more than $1 million each. 

The sales topper of $4.2 million was followed by the “runner-up” at $4.0 million. Boyd Browning Jr., president and CEO of Fasig-Tipton succinctly said, “I genuinely believe it was the greatest horse sale I’ve ever seen in my life.” Whether this is good for the sport amidst a falling foal crop and continued racetrack closures can be the subject of debate, but the added value placed on unproven horseflesh is significant and it is due, in no small part, to the successful efforts of the beleaguered Jockey Club and NTRA pushing changes to the tax code benefitting horse ownership. The top end of the sport is healthy.

Lawyers

With far less fanfare, the lawyers came to town to attend the annual Racing and Gaming Conference at Saratoga. The annual conference, put together by the tireless efforts of Patrick Brown, was held at the Saratoga Hilton and touched upon a wide range of gaming and racing topics, including the regulation of both, over three days.  It included racing executives, regulators, owners and horse players, 

I was proud to contribute while on a panel that discussed the legality of the poly markets mimicking sports betting on their platforms and the prospect of (and legal impediments to) those same entities encroaching upon racing’s wagering franchise on horse races. 

Other panels discussed various forms of regulation; computer assisted wagering and the economics of racehorse ownership. 

On the track

– Trainer Linda Rice won a host of races last week, including five on Saturday, tying the record for most wins by a trainer on a Saratoga racecard. One of those wins came for longtime influential owner and breeder, Chester Broman. Broman has won a race here each year for decades and decades, and it was good to see his silks in the “Winner’s Circle” once again. Rice continues to fill the entry box with her stable of horses and stands a reasonable chance of winning the training title at the meet.

– This week saw Hall of Fame trainer Nick Zito win a race teaming with Katie Davis to take Friday’s nightcap. An emotional Winner’s Circle gathering and poignant interview with the ever-popular Zito was had under the darkening skies.

– The absence of jockeys Flavien Prat (suspension) and Irad Ortiz (injury) last week left the door ajar for Jose Ortiz who won with more than 75% of his mounts during a dominating stretch.  Manny Franco also continued his tremendous race meet with multiple winners. (Prat has now returned to action and Irad Ortiz is set to return August 22nd.)

– The Saratoga stakes races on grass continue to effectively act as a subsidy to European connections who routinely invade to win these races. A reassessment of the purse offered for these races should be considered. 

– Horsemen continue to complain that the track surface in the Wilson Chute (used for four races Saturday) is unsatisfactory, leading to hoof and soreness issues. The last race on Saturday saw two of the starters slip badly out of the gate with one horse being vanned off after the race.  

Other

– Racing historian Jon Sargalis put Sovereignty’s win last week in the Whitney Stakes in perspective by noting that no horse had pulled off the Kentucky Derby – Whitney Stakes double since 1938 when Triple Crown winner War Admiral did so. He further noted that Secretariat was denied that bid when he was famously upset by his older rival Onion in 1973.   (Sargalis also took a tremendous photo through the mist trackside early Saturday morning.) 

Upcoming Week

The Alabama Stakes, to be run Saturday August 22nd, has grown in popularity in recent years, and both the racetrack and the city expect huge crowds.  Westpoint Thoroughbreds’ Counting Stars will seek to replicate her huge effort in the Coaching Club America Oaks by navigating the longer distance of the Alabama Stakes against a compact field. 

The day will be a long one – 12 races spanning from 12:45 to 7:16 with the Alabama Stakes run at 6:42.

During the day a talented local band will play at the gazebo next to the Dunkin Donuts stand in the backyard from 1-5 pm. The group – named NYMBIS – is led by Chuck Valentine and features keyboard and percussion by Frankie McKinney and Liz Conant and drums and bass by Brandon Waylett and Austin Nicholsen. They are a good listen, and it is a good spot to gather between races before the stakes races begin. Come by and say hello.