Ownership Initiative Moving Forward

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The National Thoroughbred Racing Association announced Nov. 9 its intentions to move forward with key programs, one of which is geared toward owner recruitment.

To that end, the results of a survey of 18 Thoroughbred owners were released at the NTRA's Western Conference on Racing at Hollywood Park. The information, as well as additional survey results, will be used to lay the groundwork for a project designed to generate interest in horse ownership--TheGreatestGame.com.

TheGreatestGame.com, which was announced this summer, will be headed by Reed Farley, senior vice president of industry development and technology for the NTRA.

"The current process is fueled by a small and static number of buyers," said Farley, himself a Thoroughbred owner. "New owners will have a positive impact on all segments of our industry. The economic impact of incremental ownership is very significant."

The survey, conducted by MARC Research, showed, among other things, that owners see the "challenge" of racing to be their own education of the business, not a battle on the racetrack; a desire to make money, but the more realistic goal of covering losses and expenses; and the belief that ownership is an excellent way to build friendships. The surveyed owners generally don't wager much; in fact, they believe "picking the right horse is enough of a gamble," said Tom Nelson of MARC Research.

Nelson also said the owners, despite the plethora of data and other information available in the industry, indicated information on horse ownership is in short supply. They said purses are down, when in fact they have risen in many markets over the past five years.

"There is a clear disconnect here," Nelson said. "(The challenge) is how we package and deliver resources available to owners."
Phase one of the research project is complete. Phase two will feature interviews with people who left the business for reasons other than dispersals, or because they simply went bust.

Nelson said the survey indicated that existing owners got into the business through other people in racing. Only one of the 18 owners surveyed was a racing fan, or gambler, before he entered the business.

Of those surveyed, 14 are male and four are female. They hail frorm California, Florida, Kentucky, Maryland, Minnesota, New York, Pennsylvania, Texas, and Virginia.

The challenges to Thoroughbred ownership are many, they said, and include the time commitment, finding appropriate partners or trainers, a lack of support for the business end of the sport, a "deteriorating owner economic model," and the fragile nature of Thoroughbreds. To keep owners in the game, they suggested a "safety net" to ensure a somewhat success first experience.
They also said the media puts too much emphasis on the top owners in the business at the expense of other success stories at the "mid-market" level.

California is considered a key to TheGreatestGame.com endeavor. TOC president John Van de Kamp said that even though the number of licensed owners in the state has gone from 11,000 to 8,500 and back up to 9,000 in recent years, there is serious work to be done.

The NTRA said it will use existing resources -- Keeneland Association, which funded start-up of TheGreatestGame.com; the Thoroughbred Owners and Breeders Association; and The Blood-Horse Inc. -- to support and staff the project.

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