Edited press release
Because of the current economic climate, Dogwood Stable has announced a 2009 marketing policy that will offer smaller ownership units, less markup, insistence on lower maintenance charges, and anticipated purchase prices of 60 to 70 cents on the dollar from previous years.
“Leaner times are here, so we’ve come up with some changes to make it easier to campaign a racehorse in 2009,” stated Dogwood Stable President W. Cothran “Cot” Campbell. “Clearly, this is a time when we must all make less money. Quality horses are going to cost less at the sales this year. We think we can buy at 60 or 70 cents on the dollar from previous years. And Dogwood Stable’s markup on these reduced prices will be lessened by 20 to 40% on the horses purchased.”
Campbell explained that each of Dogwood’s horses would still be owned by a separate general partnership; however, in 2009 some horses will be offered in a new eight-share format to go with Dogwood’s existing four-share model. This change will allow for a greatly reduced unit price.
“This experiment will commence with our purchases at the Ocala Breeders’ Sales Co.'s 2-year-olds in training sale Feb. 17,” said Campbell.
“Maintenance costs have been the bane of our existence and we are encouraged that they will decrease in the year ahead,” he continued. “We can’t control that, but we can certainly nag about it."
Campbell cited the recent announcement by the Rood & Riddle Equine Hospital in Lexington that it would reduce fees for its services. "I can’t see how other veterinarians and other suppliers, can fail to follow suit," Campbell said. "As trainers get hungrier, they will too. The end use of a racehorse is to go to the races, win, and earn money. That’s a tough enough assignment under the best of conditions, but with excessive maintenance charges, it is discouraging.”
Dogwood Stable has a minimum of four offerings a year. Two-year-olds are highlighted in two separate spring offerings, with individuals purchased from the training sales in both Florida and Kentucky. The stable’s summer offering consists of yearlings purchased from Fasig-Tipton’s July and Saratoga August sales, while the fall offering represents purchases from the Keeneland September sale.