Horse Racing Capsules: Horse industry closely watches Dubai debt crisis
LEXINGTON, Kentucky — Buyers and sellers of high-end racehorses were monitoring Dubai's debt crisis, and there was no indication on Friday that Dubai's ruler will scale back his enormous financial ties to the industry in the United States and elsewhere.
The emirate's ruler, Sheik Mohammed bin Rashid Al Maktoum, and his family have been among the highest spenders at major American thoroughbred auctions dating to the 1980s, often paying millions of dollars for top bloodstock even during market downturns such as the current one.
Dubai World, the main investment arm of the Middle Eastern city-state, is asking for at least a six-month delay on paying back a nearly $60 billion debt. It was unclear what effect the country's debt crisis would have on the sheik's horse racing and breeding interests and whether the American thoroughbred market would feel any repercussions.
"We've seen no sign that it's going to have any impact, and we certainly hope they're able to work their way through the situation," said Nick Nicholson, president of Keeneland, a Lexington racetrack and auction house where the sheik is a major horse buyer and regularly attends sales.
Sheik Mohammed has been a longtime horse enthusiast. He is one of the world's premier endurance riders and is married to Princess Haya of Jordan, president of the International Equestrian Federation.
In 2001, he bulked up his horse operations in the United States with the purchase of Jonabell Farm in Lexington. Among the top stallions stabled there are 2007 Kentucky Derby winner Street Sense and his sire, Street Cry, 2006 Preakness Stakes winner Bernardini, and Medaglia d'Oro, who sired Rachel Alexandra, winner of this year's Kentucky Oaks and Preakness.
Oliver Tait, chief operating officer at Jonabell, declined to comment on Friday about the debt crisis except to say that operations at the farm hadn't changed.
"It's business as usual," Tait said. "Our object has remained the same. We're carrying on."
Seven horses owned by the sheik's Godolphin Racing stable have run in the Kentucky Derby, including Desert Party and Regal Ransom this year. The highest finish for a Godolphin horse in the Derby is sixth, by China Visit in 2000.
Mohammed's goal of winning a Derby has been amplified in recent years with some record-shattering purchases of not just stallions but also mares, including Playful Act, which he bought in 2007 at Keeneland for an unprecedented $10.5 million.
"Sheik Mohammed obviously has a passion for thoroughbred racing," said Case Clay, president of Three Chimneys Farm in Lexington. "I'm guessing the money he's using to buy is small potatoes compared to what's going on over in Dubai. If it all falls down in Dubai, I think he still has disposable income to enjoy horse racing."
In this month's recently concluded Keeneland sale, however, neither Mohammed nor his representative John Ferguson participated, even though the sale featured the dispersal of about 150 horses that belonged to the great Kentucky horse breeding operation, Overbrook Farm.
"I think many of us were surprised given some of the pedigrees we were selling," said Ric Waldman, who served as Overbrook's stallion consultant.
Waldman said he didn't know if the sheik's absence from the November sale had anything to do with his city's debt trouble.
The influence of Dubai on horse racing extends far beyond the sheik's individual interest. Last year, a company headed by one of his close associates purchased Fasig-Tipton, the other major horse auction house in Lexington.
Dubai each year also hosts the world's richest horse race, the Dubai World Cup. A world-class racecourse seating 60,000 people is being planned for next year's event.
Meydan, the company spearheading that project, also is a top sponsor of next year's World Equestrian Games in Lexington. Jamie Link, CEO of the World Games 2010 Foundation, said he expects Dubai's financial troubles will have no effect on that commitment.
Horses return as historic Hialeah reopens Saturday
HIALEAH, Fla. — Historic Hialeah Park is set to reopen this weekend for its first race day in years.
Track owner John Brunetti expects 10,000 to 15,000 people to walk through the park's gates for quarter horse racing on Saturday.
The track was built in the 1920s, but slipped into a state of disrepair after it closed. Saturday will be the first live race day in Hialeah since 2001.
Hialeah Park was previously a destination for thoroughbreds, but track lost its permit for that type of racing in 2004. It was given a quarter horse permit, which are easier to obtain, earlier this year. Those familiar with the park's history hope quarter horse racing will be a step toward bringing back thoroughbreds to the park.
-- Sarah Larimer
Horse racing commission sets special meeting
OKLAHOMA CITY — The Oklahoma Horse Racing Commission is expected to consider a racing and gaming license to a subsidiary of the Chickasaw Nation that is buying Remington Park.
The commission has a special meeting set for Dec. 17.
The commission gave preliminary approval earlier this month to the license application for 2010 by Global Gaming RP LLC.
Obtaining the license is the last significant step before the company's $80.25 million purchase of Oklahoma's largest horse racing track can be completed. Global Gaming RP is buying Remington Park from bankrupt Magna Entertainment Corp.
John Elliott, the CEO of Global Gaming Solutions LLC, the parent company of Global Gaming RP, has said he hopes the sale will be finalized so that Remington Park will transfer ownership at midnight on Dec. 31.
Blame wins this game, tops Einstein in Clark 'Cap
LOUISVILLE, Ky. — Blame drew clear in the stretch and held off Misremembered by a neck to win the $400,000 Clark Handicap at Churchill Downs.
The 3-year-old colt beat the likes of Einstein, among the nation's top older horses, as well as Stephen Foster Handicap winner Macho Again.
With Jamie Theriot aboard, Blame raced behind early leader Anarko and then made his winning more on the final turn of Saturday's 1 1/8-mile Grade 2 race.
The 7-year-old Einstein broke from the outside No. 14 post, encountered traffic issues in midstretch but wound up third. Macho Again finished ninth.
Blame's winning time was 1:49.39 over a fast track. Blame returned $10.80, $6.40, and $2.
Earlier, 56-1 long shot Rahystrada won the River City Handicap and returned $115.80 for a $2 win bet.
Sara Louise wins Big A's Top Flight Handicap
NEW YORK — Sara Louise, the 3-5 favorite, was fully extended Friday to beat Justwhistledixie by a half length in the $150,000 Top Flight Handicap for fillies and mares at Aqueduct.
A 3-year-old, Sara Louise ran fourth in her previous race, the Breeders' Cup Filly & Mare Sprint at Santa Anita. That effort earned her the role of odds-on favorite for the one-mile Top Flight. Backers expecting an easy time had to sweat out the victory.
Sara Louise, with Edgar Prado up, cruised confidently into contending position with a three-wide surge on the turn. She soon had company as Justwhistledixie also made a bid to her outside.
Turning into the lane, it was a two-horse battle with Sara Louise never yielding despite intense pressure, getting her fourth win in eight starts. Trained by Saeed bin Suroor, Sara Louise was clocked in 1:38.94 on the fast track, paying $3.40, $2.20 and $2.10. Justwhistledixie returned $3.10 and $2.80. Cuvee Uncorked paid $4.10 to show.
Fluke wins in emotional upset at Hollywood Park
INGLEWOOD, Calif. — Fluke beat Ever a Friend by a length in an emotional upset to win the $300,000 Citation Handicap race at Hollywood Park on Friday.
The Brazilian-bred Fluke, the sixth choice at odds of 9-1, was trained by Humberto Ascanio, who took over the late Bobby Frankel's stable after the Hall of Fame trainer died on Nov. 16.
The 4-year-old horse, ridden by Joe Talamo, ran the 9½ furlongs in 1:40.48, and paid $20, $7.80 and $4.40. Ever a Friend returned $6 and $3.80. Cowboy Cal paid $3.20 to show.
The race was worth $180,000 to the winner and boosted Fluke's career earnings to $308,348.
