by ex ( )
ROWDOWN – THE NURSERY
It’s that time of year again…yearlings. There are that many for sale you can shop ‘til you drop! But there is a huge divide in yearling prices. Well-bred yearlings go for fortunes; in most cases far more than they are worth. The money at the top end never seems to dry up; they keep buying, hoping they will find the next Guineas winner. But like any gold rush, there has been massive over production and the market is flooded. There is a large number of yearlings that haven’t quite made the grade for one reason or another. They might appear the wrong size or shape; or their sire might have gone cold. But buying yearlings is not an exact science; most of the expensive ones will be disappointing and there will be plenty of winners among the cheaper ones if they are given the chance.
We have always done well buying these yearlings at the bottom end of the market and there has never been a better time to pick up bargains…lots of them!
In the past we have generally bought a few in October and we sell them as individuals, but it’s a risky business for you, being involved in one young horse before it’s even old enough to race (as I’m sure a lot of you know!).
What we suggest is to hedge our bets. Our idea is to buy good value yearlings, we like physically and might also be a good bet on paper. For example, first/second season sires. All they need is a couple of good winners early next year and their whole progeny increase in value. Or something small and sharp we think could get on the track in April; you can pick up wins before most 2 year olds are ready to race.
With this idea we have to weigh up the number of horses against the overheads. If we get too many; any success we have won’t necessarily outweigh the training costs. We think 4 yearlings is about right. We will have a chance of an exciting horse or two and we can keep the training low.
To get these numbers in we need your help now; we can’t carry the financial weight of these yearlings all winter on our own. But in truth we won’t know what’s what until March; which is why we are keeping them all under the same banner. We don’t want anyone to feel the disappointment of being in the wrong horse come the spring.SO HERE IS THE DEAL AND THE HORSES
£1,600 shares to support the Nursery until the end of March.
We would like 20 shares at £1,600; to purchase, break in and train four yearlings until 31st March 2019. We will take the first 5 shares (25%) to show our commitment and hopefully share in the success! We are looking for 8 to 10 people to take the remaining 15 shares. We feel this is really good value to be involved in 4 horses, two Colts and two Fillies, and when April comes along we will only carry on with those we feel can cut the mustard on the race track. This could potentially reduce the training costs from April onwards (unless we have 4 superstars but I don’t think anyone will complain about that!).
If this were to be the case and we trained all four going forward the maximum additional costs involved to the 31st of October 2019 would be £1750; and this could be potentially less depending on how things actually pan out in terms of which horses go forward through all the Summer or perhaps only part of it.
The Two Colts are by Hallowed Crown and Morpheus
and the two Fillies are by the Champion Sprint Sire Kyllachy and by Cable Bay
And if you follow this link you can see the Morpheus Colt and the Kyllachy and Cable Bay Fillies cantering upsides with Arlecchino's Arc and Misu Pete on the morning of the 12th of December. If you follow these two links links you can see the four of them at work on the morning of 5th January 2019; and here are the Morpheus Colt and the Kyllachy and Cable Bay Fillies working on the morning of 12th January 2019.
KEEP IN THE KNOW
For your support in this venture we will keep you informed on all the yearlings’ progress. We will pick out a number of breakfast mornings through the winter when you can come down and see them all on the gallops. But you can come to Rowdown virtually any morning to see them on the move and to talk directly to their riders, to Mike or to me.
They will be paraded just before the start of the turf season. By then we should have a good idea which way to go forward with each horse individually.
THE END GAME
We will look to go into further detail of the finances from April 2019 onwards as we go forward with the physical work on the Downs, always subject to a maximum further payment of £1750 per 20th share (which as I have articulated above could be less) from the 1st of April 2019. The additional payment from the 1st of April can be paid in instalments.
But named the “Nursery”, these horses are not going to stay in this partnership at three and four years of age; at the end of October 2019 they will be either commercially sold outside of Rowdown or placed, in return for their fair fiscal commercial value, into other partnerships within kthe Yard. So the total commitment is securely capped and the full fiscal return of any prizemoney won and any resale value will be returned to the individual partners on a pro rata %age basis by 15th December 2019.