Dynamic Syndications today welcomed back Dean & Fiona after almost four weeks in the United States on a fact finding mission into racehorse syndication and ownership.
Fiona & Dean - Glad to be back working for our clients at Dynamic
The trip was enlightening and actually highlighted how well racehorse syndication is administered in Australia through licenced professional syndicators and overseen by ASIC appointed Lead Regulators.
One of the many highlights of the trip was attending the 145th running of the Belmont Stakes at Belmont Park in New York. The Belmont Stakes is their feature race on the programme and is the third leg of the USA Triple Crown. A Race for 3yo’s where 40 years earlier, on June 9 1973, the immortal
“Secretariat” won the race by a staggering 31 lengths which made him one of only 11 horses to win the USA Triple Crown - Kentucky Derby - Preakness - Belmont.
Secretariat
Other notable names to win the Belmont Stakes include:
Union Rags (2012)
Thunder Gulch,
A.P. Indy,
Tabasco Cat
Easy Goer,
Affirmed (Triple Crown 78)
Seattle Slew (Triple Crown 77)
Riva Ridge,
Citation (Triple Crown 48) etc.
We were fortunate to attend the meeting as guests of Coolmore Stud’s Kentucky based Director of Sales,
Charlie O’Connor and fellow sales team member,
Andre Lynch.
Dean Watt & Charlie O'Connor at lunch the day before Belmont
The hospitality the team showed us was very much appreciated and the insight into the behind the scenes finer points of the US racing and breeding industry was both educational and extremely valuable.
(front row) Debbie O'Connor, Catherine Kenneally, (back row) Fiona & Rachel Watt
Statue of Secretariat in the Parade Ring at Belmont Park - New York
Another feature was spending time again with renowned Kentucky based trainer Eddie Kenneally – brother to well respected Australian breeding identity John Kenneally - proprietor of Erinvale Stud Victoria.
Interestingly the purpose for which the Dynamic Team attended the meeting, the $1 million Group 1 Belmont Stakes (2400m) was won by a syndicated horse named Palace Malice.
A quick snapshot Dean took on his phone of the 13/1 winner PALACE MALICE in the parade ring
Support races on the feature programme included:
The Manhattan – Gr1 2000m 3yo + Turf
The Just A Game - Gr1 F&M 1600m Turf
The Woody Stephens – Gr2 1400m 3yo’s Dirt
The True North – Gr2 1200m 3yo + Dirt
The view at Belmont Park
We found it fascinating that many of the practices and administrative procedures conducted in the USA are far more “laissez-faire” and would not be considered as accepted business practice in Australia. USA structures were found to more representative of the late 1980’s Australian experiences, a time period before regulatory authorities cracked down on less than desirable practices of that era. As a result we as an industry have created an environment to protect the investor – something that Australia can be rightfully proud of.
Naturally, we also identified several ways that we can offer our clients improved, value added experiences which we would like to introduce in the future.
However – there is no place like home !