…through the revolving door that has become the Kentucky stallion industry. 2017 Leading Freshman Sire Overanalyze has been sold to Korea.
https://www.paulickreport.com/news/bloodstock/leading-freshman-sire-overanalyze-exported-to-korea/
…through the revolving door that has become the Kentucky stallion industry. 2017 Leading Freshman Sire Overanalyze has been sold to Korea.
https://www.paulickreport.com/news/bloodstock/leading-freshman-sire-overanalyze-exported-to-korea/
Sad
I wish I could say I’m surprised, but it seems like WinStar only keeps them for 5 years and then shuffles them out. We could honestly take bets on which one will be gone next. Paynter? Exaggerator?
It’s interesting-- and SAD-- how this has turned into nothing but business. It used to be- back when breeding farms were making money, and breeders were doing OK- that stallions lived out their lives where they first stood at stud.
Then, along came Ferdinand and Alleged, and it all was not so nice, and we all had a call to arms.
I am not inferring that this will happen to this stallion. I am just sad at how things have evolved.
FWIW, and no, I don’t like the trend I see from WinStar, Ferdinand has been gone now 20 years and was, IMO, one of the big initiators of ensuring stallions being sold offshore can/will be repatriated back to the US when their breeding career is over.
Alleged, I was only able to find info on one, (1974-2000) and stood at Walmac International’s in KY his entire stud career.
Overanalyze was sold to the Korea Thoroughbred Breeders Assoc. WinStar has first right of refusal if Overanalyze is ever offered for sale later. He stood in Uruguay last year.
I am so sorry- I should have said Exceller.
Its their business model. Stand a lot of stallions. Offer incentives to attract a ton of breeders for the initial first seasons. Take all the money that covered their costs + profit. Sell stallion overseas when the shininess wears off and he goes overseas for a decent sum. Winstar comes out profiting in the end.
It’s a self-perpetuating problem without an easy solution. No one who works with thoroughbreds wants this, yet nearly all directly or indirectly contribute to supporting a market that predestines most stallions to “fail.” You don’t have much of a choice.
In a weird way, we can be thankful there are still some economically sound countries developing TB breeding programs who want our breeding stock. There are scarier places a horse could end up than South Korea. That doesn’t mean I like it. :no:
While not blameless, I don’t think you can exclusively pin this on them. I don’t believe they outright own the majority of the stallions. They also can’t control how the market will respond nor how successful the foals will be.
It would be nice if the industry could find a way to diversify instead of living and dying by the young horse sales market. Of course, that’s easier said than done.
A loss for those who look for talented off-track prospects, too. His offspring are NICE!!
Winstar does leave a bit of a sour taste in the mouth…they really do hustle off their stallions awfully quick, with new ones constantly filling stalls. Ashford, too, will move them on but it doesn’t seem quite as hasty as Winstar. Then you have “the old guard” like Claiborne and Lanes End (to a degree), who limit incoming stallions and tend to hang on to them longer. Claiborne has a handful of less profitable stallions, but THEY KEEP THEM and offer them affordably just the same. War Front can make up the difference.
Lanes End and Three Chimneys will move stallions on, but typically to other state bred programs (NY, PA). Spendthrift offers great incentives to try new stallions, but I’m a little leery of their programs when horses like Tiz Wonderful, Tizway, etc get shipped out and my breeding rights are null.
Stallions need the most support in year 4/5, and that’s when they seem to get dumped…severely punishing the small breeders stuck with a now very undervalued foal or yearling from that last crop. No wonder breeders are so hesitant to use the “bust year” stallions…especially at Winstar, the stallion may be out of country before your foal even has a chance.
Yes, his get were not well received at the sales. It’s sad to see him go.
I was merely outlining their business model. Its pretty cut and dry. Never said it was a good one nor a bad one.
But my point is that their business model is also influenced by who owns the stallions. The farm itself may want to keep a stallion, but if the ownership votes to sell, there is not much you can do.
I don’t believe Winstar is the majority owner of all their stallions, but I’m not privy to that information. Maybe someone else has more insight.
if it stands in their barn, especially most of their roster, they control majority interest once it reaches their stallion barn. Winstar is too business savvy to let a non-entity control majority interest in their stallions. Unless the stud is like a triple crown winner or the biggest hot topic and the cash flow is pretty much guaranteed.
What basis do you have for that belief ?
Where did you get that idea? Please cite your source.
(Have you ever of stallion syndicates?)
Because they’re snaffle1987? :rolleyes:
Just because Winstar Farm is the physical location of a stallion and manages that stallion’s care and book, does not mean that Winstar is the majority ownership of a stallion’s syndicate nor has final say in what happens to a stallion.
well duh. but there are majority ownership in syndicates. Example: Taylor Made w/ California Chrome. Those not in majority ownership were basically taken for a ride on that deal. You could own 1% of said stallion and your opinion on what occurs with it is a moot one.
Winstar Farm has a lot of power. They operate their business like a large corporation. Maximizing money the quickest way possible is the path to success and continued success. Their business model is the result of the sales arena driving the industry. Which is ass-backwards if you ask me. After those shiny new stallions lose their lustre after the first few initial seasons; profit drops for the stud farm unless he becomes something like War Front or Tapit. Winstar will replace him with the next shiniest object of the year (whisking away those injured and turned up 3 yr olds with a few G1 under their belt) to take said partial-failure’s place in the stall. It quickly and easily replaces the cashflow and the partial-failure was re-sold for a still handsome sum to stand where he will not be a competition in the US market if he suddenly finds great success.
For a farm who operates in this manner with a relatively large stallion roster which has a revolving door; it makes little sense for them to not control majority interest in the horses who enter their roster. Otherwise they are stuck with it filling a stall in their barn. And lets be honest with ourselves. the Syndicate members on most racehorses and stallions are not in it because he’s a cute and cuddly pet and a living breathing creature. Its for the money and the lucrative money side of the business dealings with the same mentality that Winstar has built their business around. Profit quickly based on sales market. When interest on US soil begins to wane; sell overseas on the basis of he had exciting first crops, a tremendous pedigree, and a handsome race record. It becomes a win-win from start to finish for any investor.
Not saying I agree with it. Not saying I disagree with it. I am sure there are stallions in most stud barns all over this country who were sold by ownership and the farm where the stallion stood was not majority interest. But this is the track record Winstar has built. Perhaps some of those stallions they have sold elsewhere they did not majority own. But you’d be kidding yourself if you didn’t think they did not control majority interest
I’m just quoting for posterity.
Snaffle, I mean this kindly when I say you don’t know what you don’t know.
Maybe one day when I have more energy, I will engage you in a deeper conversation on this topic. But all I can say right now is that I hope everyone who sees this realizes it reads more like a Hollywood screenplay than reality. That’s not to say there aren’t some kernels of truth, but the end product had been over dramatized to the point it barely resembles real life.