Private Terms was bred in Kentucky by Mr. and Mrs. Stuart S. Janney Jr. of Locust Hill Farm and produced from the Bold Ruler mare Laughter, who was a half-sister to the Janney's great champion filly Ruffian. Racing for Locust Hill, Private Terms won a dozen of 17 races over three years. He was unbeaten going into the 1988 Kentucky Derby (gr. I), but was no match for Winning Colors, who became only the third filly to win the historic race.Trained by Charles H. Hadry, Private Terms had won such stakes as the Wood Memorial Invitational (gr. I) and Gotham (gr. II) Stakes going into the Run for the Roses. He was retired as a 4-year-old with earnings of $1,243,947.
Private Terms, sire of millionaires Afternoon Deelites and Soul of the Matter, has been pensioned from stallion duty at the Hancock family's Claiborne Farm near Paris, Ky. The 21-year-old son of Private Account is represented by 21 stakes winners and the earners of nearly $26 million.Afternoon Deelites and Soul of the Matter, both grade I winners, got Private Terms off to a good start at stud. Soul of the Matter, from his sire's first crop of foals, took the Super Derby (gr. I) and ran a strong second to Cigar in the inaugural Dubai World Cup in 1996. Afternoon Deelites, a member of Private Terms' second crop, won the Hollywood Futurity (gr. I) and Malibu Stakes (gr. I).Private Terms began his stallion career at Northview Stallion Station in Maryland and was moved to Claiborne for the 1996 breeding season. His other graded winners are P Day, Connecting Terms, Rochelle's Terms, and Private Buck Trout.