Regardless of the amount of money Sheikh Mohammed spends at this year's Fasig-Tipton Saratoga sale of yearlings, both consignors and buyers expect plenty of interest.
Fasig-Tipton has ramped up its race sponsorship at Gulfstream Park as the Lexington sales company and Florida racetrack unveiled the new "Fasig-Tipton Filly Festival" to be run during the 2010 meet.
When Dubai-based Synergy Investments purchased Fasig-Tipton last year, officials of the auction firm said that one of the company's missions would be to bring in new participants to Thoroughbred racing. The initial effort, known as the Fasig-Tipton Racing Club, will involve a broad-based program that will identify racing enthusiasts who have the potential and desire to become active owners.
Construction is under way on a new office building at Fasig-Tipton's Newtown Paddocks property near Lexington. The structure, which will be located in front of the sale pavilion, will have three levels (two above ground and a basement). A walkway will connect the second above ground level of the office building with the second story of the sale pavilion.
Fasig-Tipton's renovation and expansion of its Humphrey S. Finney Pavilion in Upstate New York will cost several million dollars, according to a Nov. 14 report in the Albany Business Review. In plans filed with the city of Saratoga Springs, the auction company's officials said they would use bluestone, slate, brick, and historic wood fencing to create a more upscale facility.
Dan Pride, the new executive vice president and chief operating officer of Fasig-Tipton, is going back to his auction roots in the Thoroughbred industry.
Fasig-Tipton has restructured its senior management team, it was announced Sept. 2. The changes include the addition of one of Sheikh Mohammed's key employees in America, Dan Pride, to the auction firm's executive ranks.
Fasig-Tipton will pay the nomination and entry fees for the horses sold at its recent Saratoga select yearling auction that are pointed to any of the six graded stakes for juveniles at Saratoga in 2009. It's just one of what could be many initiatives as the company attempts to reinvent itself.
The purchase of Fasig-Tipton by Dubai-based Synergy Investments was finalized May 30, according to Boyd Browning, Fasig-Tipton's executive vice president and chief operating officer.
The purchase of Fasig-Tipton by Dubai-based Synergy Investments will be finalized May 30, according to Boyd Browning, Fasig-Tipton's executive vice president and chief operating officer.
Boyd Browning said the sale of Fasig-Tipton will provide more resources for the auction company, which hopes to promote the business and recruit new owners.
Synergy Investments Ltd. will take over Fasig-Tipton, which holds auctions in Lexington, as well as New York, Maryland, Florida, and Texas.
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