Articles posted March 21, 2001

Headlines and features from the Thoroughbred industry

Desormeaux to Ride in Japan for Three Months

Kent Desormeaux won the Kentucky Derby in 1998 and 2000, but in 2001 his best Derby hope may come on May 27 in the Japanese Derby at Tokyo racecourse. Desormeaux has agreed to ride in Japan on a three-month license from the Japan Racing Association, beginning on April 28, the date of a key trial race for the Japanese classic.

OBS March Sale Ends With A Bang

The Ocala Breeders' Sales Company's March select auction of 2-year-olds ended with a bang on Wednesday. A Dehere ridgling became the most expensive juvenile ever sold by OBS when he brought a $1,050,000 bid from trainer Todd Pletcher, who was representing pharmaceutical executive Eugene Melnyk.

Dubai World Cup: Big Ticket Item for Some Racing Fans

The Dubai World Cup is not just the world's richest horse race, it can also be the most expensive racing event on the globe to attend. Though fans can take a low-budget approach, with free admission to certain areas, the more well-heeled patrons might reach deep into their pockets and go first class, paying as much as US$742 for a seat in one of the suites overlooking the finish line.

Magna-Led Group Hires Lobbyist in New York

A Magna Entertainment-led group that submitted a bid for New York City Off-Track Betting Corp. has added a well-placed lobbyist at the state capital, an unusual pre-emptive move for a contract that hasn't been awarded. GMR-NY, a company incorporated in Delaware, has signed a deal to pay $110,000 to Patricia Lynch, who until Dec. 31 had been the closest adviser to Assembly Speaker Sheldon Silver, a Manhattan Democrat.

Road to Louisville: Who's Going Where

The road to Louisville right now is like something out of "It's a Mad, Mad, Mad, Mad World," where everyone is scurrying frantically about in different directions trying to get to a single destination. Many trainers are still confused as to where to send their steeds, whether they're trying to avoid the big guns, like Monarchos and Point Given, or looking for the best possible spot for their horse. Derby winners usually have set plans and stick to it, so it's almost time for those trainers who are still vacillating to make up their minds.

Barretts Downturn Coincides With Stock Market Decline

On March 12, the Nasdaq composite index sank below 2000 and the Dow Jones industrial average experienced a staggering 436-point drop. The following day, Barretts conducted its select sale of 2-year-olds in training and suffered one of its worst financial beatings ever. The gross, average, and median all declined sharply. The buy-back rate climbed to its second-highest level in the auction's history. And the sale failed to produce a seven-figure horse for the first time since 1996. Just a coincidence? Gerald McMahon didn't think so. The Barretts president saw a direct link between Wall Street's crash and his California-based company's plummeting fortunes.

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