Thoroughbred racing has long been a sport of tradition, but in 2026, the tradition of the “Old Boys’ Club” is meeting the modern reality of the courtroom. As of yesterday, January 19, 2026, Mike Repole has officially signaled that his role as the self-appointed “Commissioner” is shifting from advocate to litigator.
For those who miss the glory days, the question isn’t just whether racing can be saved, but whether the legal system is the only tool left to dismantle the silos of power that have resisted unity for decades.
The Precedent: Jordan vs. NASCAR
Repole’s recent X post wasn’t just a venting session; it was a tactical comparison to the Michael Jordan (23XI Racing) vs. NASCAR antitrust lawsuit. That case, which reached a landmark settlement in December 2025, serves as the blueprint.
In the NASCAR litigation, Jordan and his partners alleged that the governing body used monopolistic practices to squeeze the life out of team owners. The result? A settlement that forced NASCAR to grant permanent “charters” (franchises), providing teams with the equity and long-term stability they had been denied. Repole is signaling that he wants the same for horse owners: a seat at the table that isn’t just a courtesy, but a legal right.
The Grounds: Antitrust and Breach of Fiduciary Duty
Can you sue an organization just because they do a “poor job”? Generally, no. However, Repole’s legal threat—already sent to The Jockey Club, Breeders’ Cup, NTRA, and TOBA—likely centers on three distinct legal pillars:
- Antitrust Violations: Similar to the NASCAR case, Repole may argue that these bodies operate as a “monopsony,” where a handful of entities control the entire market (the American Stud Book, the major championship event, etc.), stifling competition and modern business practices.
- Conflicts of Interest: Racing is notorious for its “revolving door” where board members of the Jockey Club also sit on the Breeders’ Cup board or hold executive positions at major racetracks. If it can be proven that these individuals prioritized their own interests or those of a specific organization over the health of the industry as a whole, it opens the door to claims of self-dealing.
- Governance Failures: By highlighting aftercare, Repole is pointing to a failure of mission. If these non-profit or tax-exempt bodies claim to exist for the “improvement of the breed” or the “health of the sport,” a persistent, systemic failure to protect the “product” (the horse) could be framed as a breach of their organizational mandates.
The Power of Discovery
The real “teeth” in any Repole or Ryan Dickey lawsuit isn’t necessarily the final verdict; it’s discovery.
In the Ryan Dickey CAW (Computer-Assisted Wagering) class action, the defendants (including CDI, NYRA, and Stronach Group) have recently filed motions to stay discovery. Why? Because they know that “opening the books” means revealing:
- The exact rebates given to “whales” while retail bettors are squeezed.
- The technical “latency” that allows algorithms to jump the line.
- Internal emails discussing how these deals are structured at the expense of the public.
There’s more:
| The Target | What Discovery Might Reveal |
| The Jockey Club | Internal discussions on why certain owners/trainers are “denied privileges” while others aren’t. |
| HISA Loans | Why TJC and Breeders’ Cup loaned millions of “owners’ money” to HISA without a vote. |
| Data Sales | The exact profit margins on selling racing data back to the people who generate it. |
Repole understands this. He mentioned to the Thoroughbred Daily News today that “discovery gets very, very nasty.” By forcing these organizations to turn over decades of emails, financial records, and meeting minutes, he isn’t just looking for a win—he’s looking for leverage.
The Outlook: Glory Days or Last Rites?
Can litigation bring back the glory days? Probably not in the way we remember them. The “glory days” were built on a monopoly of the gambling dollar that no longer exists. However, litigation might be the only way to force a Consolidated National Governance.
If the Jockey Club and Breeders’ Cup are faced with a billionaire who has “no financial ceiling” and a team of lawyers ready to dig through their files, they may finally be forced to the mediation table to create the “National Thoroughbred Alliance” Repole has championed.
The “Litigation Era” isn’t about the love of the law; it’s about using the only language the current power brokers seem to understand.
Remember, you don’t have to win the lawsuit to win the case!
