Under a business plan change at the farm, Three Chimneys will not offer a consignment at this year's Keeneland September yearling sale, a change that also saw personnel cuts at the Midway, Ky., farm.
Three Chimneys president Case Clay said under the farm's new business model it will not have a consignment at any yearlings sales this year, although the farm does plan to continue consigning horses to broodmare sales.
Last year Three Chimneys was the ninth-leading consignor, by gross, at Keeneland September with 77 yearlings sold for $6,385,200, or an average of $82,925. In 2003, Three Chimneys consigned the Keeneland September sale topper in filly Illusive Serenity, who Sheikh Mohammed bought through agent John Ferguson Bloodstock for $3.8 million.
"Three Chimneys has decided to focus on three main goals and they are to add top quality stallion prospects to the stallion barn, develop a strong broodmare band, and raise horses with the highest standard of horsemanship and care," Clay said. "In order to focus on those three main goals, we're not going to consign yearlings in 2014."
Clay said clients had been contacted about the changes.
The business plan changes come some 16 months after the Borges Torrealba family of Brazil, entered into a partnership with Three Chimneys. The farm has also eliminated six positions, including that of Jen Roytz, director of marketing and communications, whose profile has been removed from the website. Clay declined to discuss the other positions.
Some of the top-performing horses on the track consigned by Three Chimneys at Keeneland September in recent years include 2010 Breeders Cup Ladies Classic (gr. I) winner Unrivaled Belle, grade II winner Arena Elvira, and Obeche, a champion in Panama.
Torrealba and Three Chimneys have been actively purchasing broodmares. They landed five broodmares or broodmare prospects for $1.63 million at the 2013 Keeneland November breeding stock sale. That followed a 2012 Keeneland November in which Borges Torrealba Holdings purchased Pure Clan for $4.5 million and a total of five broodmares for $5.287 million.
Also last year, Torrealba and Three Chimneys landed the sale-topper at the Fasig-Tipton Saratoga Selected Yearling sale in filly Lady Zuzu, by Dynaformer—Indy Pick, by A.P. Indy.
Case Clay said with the farm's emphasis on building a strong broodmare band and its involvement as a consignor at broodmare sales will continue. Three Chimneys finished as the eighth-leading consignor at last year's Keeneland November breeding stock sale with 98 horses sold for a total of $6,159,000.
At the Fasig-Tipton Kentucky November sale, Three Chimneys was the third-leading consignor by gross after selling five horses for a total of $9.675 million, including two-time grade I winner Love and Pride, who was purchased by Torrealba for $4.9 million.