Economics Topic of OwnerView Thoroughbred Owner Conference Virtual Panel
The Jockey Club Release
LEXINGTON, Ky.—The fifth installment in the 2024 OwnerView webinar series was held on July 9 regarding the economics of the Thoroughbred industry when considering record purses, incentives to race and breed horses, and strong top-end sales with a declining foal crop.
The conference is hosted by The Jockey Club and the Thoroughbred Owners and Breeders Association and presented by Bessemer Trust, Stoll Keenon Ogden, and The Green Group. The panel was sponsored by Juddmonte Farms and Woodbine.
A Q&A was sponsored by West Point Thoroughbreds, and attendees were able to ask questions through a Q&A link. These questions were then answered at the end of the webinar.
Gary Falter, the project manager for OwnerView, moderated the panel with guests Everett Dobson, owner of Cheyenne Stables and Candy Meadows Farm; Tom Rooney, president and CEO, National Thoroughbred Racing Association; and Dr. Marshall Gramm, co-founder, Ten Strike Racing.
The webinar started with a review of economic data showing a decline in the foal crop over the years. “This might at first blush look like it’s bad news,” Rooney said on the waning number of foal births, starters, and races. “Of course, with the purses, it’s good news for those of us that are owners and breeders.”
Rooney also pointed out that, though there is a foal-crop reduction, there are also more forms of sports betting than there were at the start of the horse racing industry, online gambling being one of them.
Next, Falter discussed sale yearlings compared to the foal crop, which connected to state breeding programs during the discussion. Dobson provided insight on the importance of these breeding programs to the economy of the designated state.
“My hope is to get more breed to race people back into the sport,” Dobson said, stating that there is a more favorable tax structure than we have ever had. “There’s a compelling reason to breed to race,” he said.
When it comes to breeding horses, it was agreed that there are advantageous outcomes regarding state breeding programs. Gramm emphasized the upside of these programs, “Furthermore, I think some of these state-bred programs, because you continue to get paid as your horse runs, they give you the incentive to breed a sound horse.”
The replay of Tuesday’s Thoroughbred Owner Conference panel
Five additional Thoroughbred Owner Conference virtual panels are scheduled for 2024. The next session, “Veterinary: Throat Surgery,” will be held August 6 at 2 p.m. ET. A full schedule can be found here: bit.ly/OVSchedule.
There is no registration fee for the 2024 virtual conference series, but registration is required. For more information about the owner conference series, including the schedule of panels and registration, please visit ownerview.com/event/conference or contact Gary Falter at 859.224.2803 or gfalter@jockeyclub.com.
OwnerView is a joint effort spearheaded by The Jockey Club and the Thoroughbred Owners and Breeders Association to encourage ownership of Thoroughbreds and provide accurate information on aspects of ownership such as trainers, public racing syndicates, the process of purchasing and owning a Thoroughbred, racehorse retirement, and owner licensing.
