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By Wandering Eyes · Posted
For some who breed and race Thoroughbreds, the decreasing foal crop is regarded as a bellwether for a business in decline. Yet, a clear-eyed look that goes beyond numbers–and the efforts to turn them around–offers an important reminder: North American Thoroughbred breeding and racing still has real strengths. But to ensure its future we need strategic, collective action to strengthen the sport and keep it vibrant for generations to come. Industry collaboration is the only path to revitalizing Thoroughbred production. Understanding the Foal Crop Decline In 1950, arguably the sport's heyday, the North American foal crop was 9,095. In the succeeding years it rose steadily, hitting its peak in 1986 at 51,296. Then things changed. The Tax Reform Act of 1986 took away many tax breaks that spurred investment in breeding. More recently, the 2008-2009 recession exacerbated the situation as credit markets that serviced the Thoroughbred industry dried up. By 2008, the foal crop was 35,274, and it steadily declined by 50% over the next 17 years, a time which saw a massive increase in casino gaming across North America as well as the legalization of sports betting in most states. The projected 2024 annual North American foal crop is 17,300, down 14.5% since 2020, but as noted, it hasn't been sudden. Smaller foal crops and tougher economic times have led to fewer tracks, fewer race dates, and smaller fields, creating the largest impact in the once thriving regional breeding and racing markets. Regional racetracks and sales companies that depend upon the lifeblood of local horses have been forced to dramatically scale back or shutter altogether. Without a thriving network of regional markets as independent ecosystems for locally produced horses, demand for racehorses is further depressed. A Global Challenge Recently compiled data by the International Stud Book Committee covering 2015-2024 from Thoroughbred-producing countries show double-digit declines in foal crops across several nations, including Argentina, Australia, Brazil, Chile, New Zealand, South Africa, South Korea, and Uruguay. Turning to Britain and Ireland, according to a recent analysis by The Racing Post: “Another worrying decrease in the foal crop has been confirmed as the number of live foals registered with the General Stud Book in Britain and Ireland took its most significant year-on-year dip for a decade and a half.” These figures underscore that the challenges and pressures facing Thoroughbred production are global, not confined to any one country or region. One Mission, Two Jobs The Jockey Club's mission is keeper of The American Stud Book; as such, its first job is to ensure the integrity of the breed through horse registration, accurate pedigree and racing data collection, and reliable reporting on trends. It also works to make the sport stronger. Over the past 30 years, The Jockey Club has developed several for-profit companies serving various aspects of the industry. Profits from these businesses have enabled it to invest more than $100 million back into the industry, supporting 100+ initiatives including horse and rider safety and welfare, promotion and marketing, aftercare, and research. Recently, The Jockey Club backed three initiatives directed at growing the foal crop. First is the Mare Incentive Program, which waives registration fees for foals from specific mares that had not been bred recently. This program provides a resource for stallion managers to find these mares, and waiving registration fees provides a financial incentive to bring the mares back into production. Already, 205 such mares appear on the 2025 Reports of Mares Bred–a promising start. Second was the result of a concerted, year-long effort to make 100% bonus depreciation for horse purchases permanent, enabling owners to write off a horse's full cost in the year of purchase from investment income, making investing in new bloodstock more attractive. Working with National Thoroughbred Racing Association President Tom Rooney and others, the industry lobbied in Washington, D.C., to give breeders a concrete reason to invest again. The third program is the Breeder Organization Workshop, co-hosted by the Thoroughbred Owners and Breeders Association, to be held next week in Louisville, Kentucky, to encourage state and provincial breeder associations to consider creative measures to increase Thoroughbred horse production across North America, including combining regions to make state-bred races more attractive. The Road Ahead Even with these initiatives, the horse racing industry continues to face real challenges, including tax policy shifts, economic ups and downs, and new tastes among fans. Fixing them will take teamwork from everyone–breeders, owners, tracks, and government–but we can do it together just like we did on 100% bonus depreciation. There are at least three critical areas on which to focus: Tax Policies and Industry Lobbying: recognizing that government is our partner. Advocate for tax policies that encourage breeding investment and wagering. The 100% bonus depreciation proves that smart tax policy drives real results. Push for permanent favorable treatment and leverage the impact that Thoroughbred breeding and racing have on jobs and ancillary businesses. There is a bill before Congress focusing on enhancing tax policy in support of ownership and another to aid in the deductibility of wager losses. Commonsense changes like these should be championed by all members of the Thoroughbred ecosystem. Grow the Fan Base. Expand national marketing and branding efforts, such as America's Best Racing, to grow the fan base, promote the on-track experience, and increase wagering. Leverage the best of the sport, the Triple Crown, Breeders' Cup, and the race meets that draw the largest crowds, to create more opportunities for the broadcast and streaming of racing content and further lean into social media and the power of influencers. We can't stand pat while other sports leagues, entertainment, and sports betting grow. Strengthen Safety, Welfare, and Integrity Standards. Organizations such as the Horseracing Integrity and Safety Authority, Thoroughbred Aftercare Alliance, and Thoroughbred Incentive Program protect horses and the sport's reputation, and while they continue to evolve, they are working and making a difference. Public confidence drives long-term growth, and these organizations serve as pillars for that growth. A Shared Responsibility for the Future The decline in the Thoroughbred foal crop is not the result of a single factor. It reflects a complex interplay of tax policy shifts, economic crises, industry consolidation, emerging competitors, and changing consumer behavior. These are challenges faced by many industries–and they are not insurmountable. The Jockey Club remains committed to being part of the solution. Through rigorous data collection, it provides the insights needed for informed decision-making. Through strategic investments, it works to expand the sport's economic base and fan engagement. And through collaboration, it seeks to unite stakeholders around a shared vision for the future. –Everett R. Dobson is the Chairman of The Jockey Club of America. The post Open Letter: The Declining Foal Crop And The Road Ahead appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions. View the full article -
By Wandering Eyes · Posted
No Nay Never heads the Coolmore roster for 2026 at €100,000, while the G1 Coral-Eclipse and G1 Irish Champion Stakes winner Delacroix, a son of Dubawi and champion racemare Tepin, has been introduced at €40,000. Only the late Wootton Bassett has sired more individual Group-winning juveniles in Europe this year than No Nay Never, whose standout two-year-olds have included the G1 Cheveley Park Stakes heroine True Love and the G2 Norfolk Stakes winner Charles Darwin. The G1 City Of York Stakes scorer Never So Brave was another notable performer for the son of Scat Daddy, who stood for €125,000 in 2025. Delacroix, who was also beaten just a nose in the G1 Futurity Trophy as a juvenile, is one of three new additions to the Coolmore stallion ranks, along with two multiple Group 1-winning sons of Wootton Bassett in Camille Pissarro and Henri Matisse, who have been introduced at €30,000 and €20,000, respectively. Henri Matisse had stable-mate Camille Pissarro back in third when lowering the track record at ParisLongchamp with his success in this year's Poule d'Essai des Poulains, having previously made the breakthrough at the top level when winning the Breeders' Cup Juvenile Turf. The six-time winner is out of the G1 Coronation Stakes and G1 Prix Jacques le Marois heroine Immortal Verse, whose other star progeny include the G1 Cheveley Park Stakes and G1 Prix Jean Prat scorer Tenebrism. Similarly, Camille Pissarro is a sibling to a Group 1 winner in the Commonwealth Cup hero Golden Horde. He registered his first top-level victory in the Prix Jean-Luc Lagardere at two and later followed his third-place finish in the Poulains with a Classic victory of his own in the Prix du Jockey Club. “Obviously, it was a major blow to lose Wootton Bassett the month before last, but we're extremely fortunate to have his sons, Camille Pissarro and Henri Matisse, retiring for the coming season,” said David O'Loughlin, Coolmore's director of sales. “These are his only two sons to have won Group 1 races at both two and three years, and both boast exceptional pedigrees and physiques to match their classic-winning prowess. “Also new for 2026 is Delacroix, arguably the best-looking son of Dubawi ever to retire to stud and a fantastic racehorse out of a brilliant racemare.” The significant movers include Starspangledbanner, who will command a career-high fee of €60,000 (from €45,000 in 2025), having been represented by a pair of leading two-year-olds in recent months, namely the dual Group 1-winning filly Precise and Breeders' Cup Juvenile Turf hero Gstaad. Sioux Nation will also stand for an increased fee of €37,500 (from €30,000), while Australia is back up to €15,000 (from €10,000) after supplying this year's Derby winner Lambourn and Coronation Stakes heroine Cercene, among others. Like Starspangledbanner, Europe's champion sire of 2024, Camelot, will command a fee of €60,000 (from €75,000), along with the European champion two-year-old and Derby winner City Of Troy, who stood for €75,000 when debuting at Coolmore Stud this season. Other notable adjustments include small decreases for City Of Troy's fellow newcomers in 2025, namely dual Derby hero Auguste Rodin, who is down to €27,500 from €30,000, and Henry Longfellow, who will stand for €12,500 (from €15,000). Meanwhile, St Mark's Basilica, who is responsible for 17 individual two-year-old winners from his first European crop in 2025, including the Prix Marcel Boussac scorer Diamond Necklace, remains at €40,000. O'Loughlin added, “We have been very mindful of the market in setting our fees, ensuring our roster continues to offer outstanding quality, choice and value with stallions to suit every mare and breeder.” The post No Nay Never Leads Coolmore’s 2026 Roster at €100,000, Delacroix Introduced at €40,000 appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions. View the full article -
By Wandering Eyes · Posted
The issue of computer assisted wagering (CAW) is not new and it is clearly time that it be revisited given the extent to which it has grown. Bettor concerns are valid and the question has always been whether anyone, large or small, is given an unfair advantage that is not available to anyone else. Phrases and words like “racketeering,” “pool-rigging enterprise,” and “insider bettors” conjure up images of insider trading and criminal activity which, if proven, could then warrant criminal prosecution and make those convicted ineligible for a racing license. The effect of using such language will not be positive for a sport struggling to survive in a highly competitive environment. After reading the lawsuit filed on behalf of a Colorado bettor who alleges federal felony racketeering charges, my initial reaction is he has a high bar to clear in order to prove what is claimed is illegal. The growing reliance on computer programs, algorithms, and artificial intelligence in almost every aspect of our lives is ubiquitous as our technological evolution is fast and furious. The issue for public policy makers in racing is the same as it is for the financial markets: can everyone have access to the same information upon which to make a decision on an investment or a wager? Are the large CAW customers doing anything different from the large institutional investors who scour the markets for opportunities and sometimes wait until the closing minutes of the market to make a move? Is it improper for a racetrack to commit a portion of their takeout revenue to reward large customers for doing business with them? How is this different from discounts for large customers in any other business? The challenge for regulators and lawmakers is the adequacy of existing policies regarding stop betting and pool closure as well as total odds transparency. Do all betters have access to the same information and can they choose to purchase programs to scour the landscape seeking opportunities to make single or multiple bets? Can they pool their wagers in the same way investors pool investments in a mutual fund? Can they hire someone to manage their wagers in the same way investors pay a management fee to a brokerage house to manage their trading? Perhaps a greater question lies in the extent to which computers are taking the traditional fun out of wagering on horse races where handicapping was a talent developed individually through an understanding of statistics: probability, bloodlines, past performance, analysis of competition, and personal experience usually expressed as one's “gut.” When computers do what humans historically have done, what does this do to the sport? In a world where robotics seem to be the next frontier, one must ask what's next, robot jockeys and horses? We already have HHR. To criminalize the racetrack companies for finding new ways to generate revenue, in my opinion, is not the answer. Handle keeps the sport going and the challenge for all is, `where do we go from here?' Policymakers, both public and private, need to listen to the concerns of the players and take a new look to achieve a balance where fans do not feel cheated or taken advantage of. –Ed Martin is the President of the Association Racing Commissioners International. The post Letter To The Editor: CAW – Time For A New Balance? appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions. View the full article -
By Wandering Eyes · Posted
Keeneland, in partnership with Cross Gate Gallery of Lexington, Kentucky, will present the 13th annual Sporting Art Auction on Thursday, Nov. 13, 2025, at 4 p.m. ET in the Keeneland Sales Pavilion, the host said via a Thursday press release. The 2025 collection features 206 lots showcasing a range of fine sporting art and American painting as well as sculptures. The auction is open to the public and click here to access the online catalogue. The post 13th Annual Sporting Art Auction At Keeneland Set For Nov. 13 appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions. View the full article -
By Wandering Eyes · Posted
OwnerView has named influencer and content creator Griffin Johnson as their 2025 New Owner of the Year, the organization said in a press release on Thursday morning. The award, sponsored by 1/ST RACING, was given to Johnson because of his work with America's Best Racing. The social media star became a part-owner in GISW Sandman (Tapit) with West Point Thoroughbreds and in 'TDN Rising Star, presented by Hagyard', Ewing (Knicks Go). As an ambassador for the sport, Johnson exposed millions of young people to horse racing. His behind-the-scenes videos with Sandman reached more than 200 million people and generated more than 35 million views. The post Griffin Johnson Awarded 2025 New Owner Of The Year appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions. View the full article
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