New York horseman Larry Doyle has purchased a 330-acre farm near Midway, Ky. where he plans to breed, raise, and board Thoroughbreds.
Doyle bought the property for $6 million last September from Leonard Greathouse, who had used the land to raise cattle. The farm was sold through Tom Biederman's Lexington-based Biederman Brokerage and Auctioneers.
With six yearlings already at the farm, Doyle has hired an architect to design plans for additional roads and fencing, as well as barns for training and layups. An old tobacco barn on the property will also be converted into a broodmare facility.
Doyle is president, CEO, and co-founder of Kinetics Asset Management, a company that manages investments and mutual funds.
Growing up with a passion for horses, Doyle remembers jumping the fence at Belmont Park to watch Secretariat race. His love for the industry carried over into adulthood, and he purchased his first horse in 1992.
Doyle currently has seven horses in training, which he races under the banner of KatieRich Stables, a combination of the names of his two children. The Midway operation will be called KatieRich Farm.
Mark Hubley, who has trained Doyle's horses for more than 20 years and also acts as his bloodstock advisor, will take on a new role as farm manager, while Dave Ramirez has been hired as yearling foreman.
Doyle is keeping six broodmares at Damian and Braxton Lynch's Royal Oak Farm near Paris, Ky. until he hires a broodmare manager at KatieRich. With a goal to start taking boarders in late summer or early fall of this year, Doyle plans to eventually have a broodmare band of 15-20, along with at least 20 outside occupants.
"I'm going to let the horses dictate which way the farm goes," Doyle explained. "If my fillies win a couple stakes, then I'll put them in the broodmare band. I basically buy horses young, race them and try to win a stakes with them, and then breed them. I concentrate mostly on fillies."
Among Doyle's best broodmares are Miss City Halo, a stakes winning daughter of Carson City; and Miss Mary Apples, and a grade II stakes-placed daughter of Clever Trick. Miss Mary Apples is the dam of Miss Red Delicious, who represented her sire, Empire Maker , with his first stakes winner last year. Doyle owns the filly in partnership with Christopher Connors.
Doyle also campaigns Your Round, a grade III stakes-placed son of Distorted Humor , who ran ninth in last year's Breeders' Cup Juvenile Turf.
Doyle will continue to reside in Briar Cliff Manor, N.Y. with his wife and two children, who are both in high school. He plans to retire from his money managing profession within five years to concentrate solely on the horse business and begin overseeing his Kentucky farm for a couple months in the spring and fall.
"I think it's a good investment," said Doyle of the farm. "I think Lexington is a growing town, and it's not a bad place (to buy) real estate."