Tuesday, December 11, 2012

Flip, NYRA & Studs

Before 2008, everyone tried to Flip That House. Now, well, not so much.

In the bloodstock world, buying a horse for $10M and piecing him a few months later with no appreciable change in market, or the horse, for closer to $14M ain't seen too often either. But, Sid Fernando reports on twitter that I'll Have Another, bought for that $10M after the Belmont sometime, is standing for $38,000 a pop, and was syndicated for $13.6M. Flip that Horse.

New York racing is a little odd. I don't particularly get it.

First, Governor Cuomo came in and took the whole thing over, feeling the wrath of virtually everyone. "He doesn't know anything about horse racing, he doesn't show up at Saratoga", etc. Now, Cornell head David Skorton has been named Chairman of NYRA. What's funny is that he knows "nothing about horse racing", too. Just like Cuomo taking over the organization after the takeout snafu, to rebuild it, this is consistent with taking over, and changing an organization. But, this time, for some reason, the usual pro-NYRA insiders aren't lambasting Skorton like they did Cuomo.

Not to be outdone however, Steve Byk doesn't like the headline of the piece calling it a "disservice". Interestingly, when NYRA was caught screwing up the takeout rate which was a harbinger for this whole mess, Mr. Byk wrote, "NYRA Lowers Takeout After Earlier Missed Opportunity" as his headline.

Like I said. I don't understand New York racing.

Good luck to Mr. Skorton. If history is any indication, he'll probably need it.

Perfectly rational stud movements are aplomb. They're coming to a state near you. Ohio is the latest target, as slots are removed from Ontario and added there. Almost daily we see a new one heading to the Buckeye State. You don't need a GPS to follow stud movements. They aren't moved for nice greenspace, good schools for the kids, the number of racetracks, shiny new grandstands or the Foie Gras in the turf club. Have slots, will travel.

Have a great day everyone!


1 comment:

Anonymous said...

Predicting how certain people will react to a NYRA development is like predicting how a horse off a 989 day layoff will run with no w/o's, oddsboards or trainer stats.