MyRacehorse continues to disrupt the thoroughbred industry. While most in the business of horse racing are shaking their heads, MyRacehorse is shaking things up. The two year- old thoroughbred ownership platform has announced that Spendthrift Farm has acquired an ownership interest in MyRacehorse. Both parties expressed a strong commitment to growing MyRacehorse’s reach.
MyRacehorse sells micro-shares in horses for as little as $65 per share. They currently have about 50 thoroughbreds in their portfolio. MyRacehorse owns part of Grade 1 winner Street Band among their stable. Some of their horses have more than a thousand owners.
Founder and CEO Michael Behrens said; “Since the very beginning, Wayne Hughes and the entire team at Spendthrift have been a great strategic partner and now having them as an equity partner allows us to execute on the next level of our strategic growth initiatives.”
“Mr. Hughes,” stated; Behrens, “is extremely passionate about horse racing and is a true innovator; our visions of affordable racehorse ownership being made available to all sports fans are extremely aligned. Even during this time of global uncertainty, their commitment to the brand has been unwavering.”
Spendthrift Farm President Eric Gustavson commented; “Providing fans the opportunity to experience the thrills of ownership is something we as an industry should be very excited about. Our investment underscores our belief in the MyRacehorse mission and the positive impacts we see happening as a result of their early success.”
Spendthrift Farm has an impressive list of stallions to choose from. Omaha Beach, Mitole and Vino Russo joined a stable that already included the likes of Into Mischief, Malibu Moon, Bolt D’Oro and Goldenscents. The Lexington, Kentucky Farm includes several other stallions, but suffice it to say, they are well stocked. Of particular interest is the fact that by the end of the foaling season, Spendthrift will have 70 foals on the farm! In addition to their Kentucky Farm, Spendthrift also has a presence is Australia.
The merger of these two racing components will provide a needed shot in the arm to a business currently looking at a questionable future. Thousands of fans, many who had but a slight interest in horse racing, have become fervent supporters of racing even beyond their equine acquisitions. MyRacehorse and Spendthrift Farm plan to put a hundred thousand new fans in the winner’s circle. That is something the Sport of Kings desperately needs.
