Honest and opinionated Mike Repole

[Shammy_Davis]

has been relatively quiet lately. Got curious as to why but nothing appeared to be amiss.

Did come across this slightly dated interview which was of interest. He thinks the purse for the Kentucky Derby should be five times higher and he wishes he could buy the NYRA and its tracks. Maybe Stronach would sell Pimilico to Mike. He’d be better off in MD as just dealing with all the problems in NY racing politics would cost a good bit of his fortune not to mention the cost of track renovations. Forget I said that, although I like his offer of being a volunteer horse racing league type commissioner the truth is he is better off remaining just where he is.

http://m.sportsbusinessdaily.com/Jou…h/Repole.aspx?

[Matador]

Because the new forum interface is littered with ads BETWEEN the posts. Maybe I’m not the only one who finds it tougher to use.

[Shammy_Davis]

@Matador

Because the new forum interface is littered with ads BETWEEN the posts. Maybe I’m not the only one who finds it tougher to use.

I think frenetic was my original thought.:mad: It is a slot machine with no stopping the wheels from turning. It has a mind of its own. It use to be that auto-correct was the only problem, now you have to sneak up on your post typing to prevent the endless exasperation of editing.:yes:

I refuse to allow it to defeat me.

Mike Repole for horse racing commissioner!:encouragement:

[Glimmerglass]

@Shammy Davis

He thinks the purse for the Kentucky Derby should be five times higher and he wishes he could buy the NYRA and its tracks.

I suspect the purse for the Derby will have to be boosted in light of the Dubai and Pegasus battle for world’s biggest payday. While there is no need to be an 8-figure sum, it would help keep it relevant at $6M. There is certainly plenty of money there for CDI to make that happen - even if that means less money spread around for the balance of races held there. I’ve said this before but Triple Crown Productions needs to be working on getting the bonus resumed. That will only help in terms of the sports recognition beyond a few days in May.

Let me state up front Mike is rich and obviously I’m just an armchair observer here …

Mike seems like a smart enough business guy - I never believed he pocketed as much from Coke buying his Vitamin Water venture as alluded to. I think he didn’t own as much equity to walk away with > $500M but certainly a couple hundred million. He has continued on with (to use baseball terms as he loves with the Met’s) several nice singles including his Pirate Booty Snacks and now he’s focused on his Body Armor sports drink. (In the process he butted heads in court filings with Sagamore Farm owner & Under Armour founder Kevin Plank with the use of the name.)

http://www.bizjournals.com/baltimore/blog/morning-edition/2013/12/under-armour-settles-case-against-body.html

That said I don’t know why any sane and rational person would want in 2017 to own a race course without acquiring with it a casino. Even with that addition I don’t see the long term economics to have it make financial sense. Oaklawn Park (and the casino) for example is owned by a family in Chicago. They’ve worked hard to keep it successful but its an exception and frankly a bad year with weather can impact the business for years. The Firestones of Upperville VA owned Gulfstream and Calder race course in the late 1980’s until early 1990s. It was not a financially positive venture so they were happy to get from being a track owner and back into just being breeders and race horse owners.

If he wants to improve the sport join the committees that oversee it and make a difference with regulation. I have found it unusual that Mike is not a member of the Jockey Club (as I last recall reading) yet Kevin Plank was not only a member but on a panel for it. So maybe Mike doesn’t have the connections that others have.

[jbonifas]

Oaklawn does have a casino, that’s why Allowance optional claiming has a purse of $83,000

[Glimmerglass]

@jbonifas

Oaklawn does have a casino, that’s why Allowance optional claiming has a purse of $83,000

I know and that’s why I cited it.

[Shammy_Davis]

@Glimmerglass

I suspect the purse for the Derby will have to be boosted in light of the Dubai and Pegasus battle for world’s biggest payday. While there is no need to be an 8-figure sum, it would help keep it relevant at $6M. There is certainly plenty of money there for CDI to make that happen - even if that means less money spread around for the balance of races held there. I’ve said this before but Triple Crown Productions needs to be working on getting the bonus resumed. That will only help in terms of the sports recognition beyond a few days in May.

Let me state up front Mike is rich and . . . seems like a smart enough business guy . . .

http://www.bizjournals.com/baltimore…inst-body.html

That said I don’t know why any sane and rational person would want in 2017 to own a race course without acquiring with it a casino. Even with that addition I don’t see the long term economics to have it make financial sense. Oaklawn Park (and the casino) for example is owned by a family in Chicago. . . .

​​​If he wants to improve the sport join the committees that oversee it and make a difference with regulation. I have found it unusual that Mike is not a member of the Jockey Club (as I last recall reading) yet Kevin Plank was not only a member but on a panel for it. So maybe Mike doesn’t have the connections that others have.

Some of your points are well taken though I am somewhat aghast that you think that Mike should be involved in committees to encourage change. He is ostensibly a successful businessman who accomplishes goals. Why would a smart individual want to get involved in the disjointed lethargic administration of horse racing and breeding that just about every earthy soul knows is led by an anointed group of people incapable of leadership? As far as the JC, the membership is solely invested in itself with the stewards controlling its voice and leading the industry to demise. Mike’s voice would be stifled by the very nature of its organization.

https://www.chronofhorse.com/forum/forum/discussion-forums/racing/9676877-rci-gimmick

Mike’s voice is best heard as an owner in a public forum, not on the numerous mindless committees that accomplish little to nothing other than to ridiculously and most recently encourage federal government control of a decades old drug problem.

There are some good bits of advice in Mike’s interview, regardless of what Coke paid him for his share of Vitamin Water.

[Glimmerglass]

@Shammy Davis

There are some good bits of advice in Mike’s interview, regardless of what Coke paid him for his share of Vitamin Water.

The purchase price only has relevance in his ability to buy something like the Maryland Jockey Club. Not even Kevin Plank would likely be able to purchase that outright without debt.

Do I think Mike is good “for the game” as folks like to say? Sure if not only for his enthusiasm but also he puts money into the sport as well. Just my view but his voice seemingly has little impact beyond the NY scene - which likely goes to his regional focus with his stable. Sure national racing press (whatever that really amount to today) likes to quote him but he doesn’t have a stable that covers north, south, east and west of the US racing let alone any fielding of horses internationally. That means his ideas aren’t going to gain the ear of folks on the West Coast, etc.

I don’t think dismissing joining on assorted committees as being pointless. Some are clubby without question and are more apt to protect the same old system. However not every organization is the same and I don’t see a lot of value being just “that guy” [and I’m not saying this is Mike] who whines about the system but won’t take action to change it.

[gumtree]

@Glimmerglass

The purchase price only has relevance in his ability to buy something like the Maryland Jockey Club. Not even Kevin Plank would likely be able to purchase that outright without debt.

Do I think Mike is good “for the game” as folks like to say? Sure if not only for his enthusiasm but also he puts money into the sport as well. Just my view but his voice seemingly has little impact beyond the NY scene - which likely goes to his regional focus with his stable. Sure national racing press (whatever that really amount to today) likes to quote him but he doesn’t have a stable that covers north, south, east and west of the US racing let alone any fielding of horses internationally. That means his ideas aren’t going to gain the ear of folks on the West Coast, etc.

I don’t think dismissing joining on assorted committees as being pointless. Some are clubby without question and are more apt to protect the same old system. However not every organization is the same and I don’t see a lot of value being just “that guy” [and I’m not saying this is Mike] who whines about the system but won’t take action to change it.

Plank would have to take on a lot of debt now. Under Armor stock has been hammered, down over 60%. I head on one of the business channels I happened to be watching that the SEC has accused them of “gilding the lilly” their books.

"To say it’s been a bad past two years for Under Armour (NYSE:UA) (NYSE:UAA) stock would be an understatement. After topping at an all-time, …

https://www.fool.com/investing/2017/03/27/time-to-get-greedy-with-under-armour-stock.aspx

[gumtree]

IMO and many others in the sport feel there is already way too much money at the top, for Stake races. That only a very small percentage of horses can run for.

While the rest of the owners/horses basically run for peanuts. Very few people are interested in owning racehorses these days. Most people didn’t, don’t get into the sport to make money. Just hopefully get close to breaking even. That was never easy but it is tougher than ever.

The breeding industry in Lexington is on very shaky ground. Some very well known “names” farms in Lex and Ocala are owned by banks but still being run by the same “names”. This has been kept very quiet. Three Chimneys was on the verge of going under and was sold. That whole deal was kept very quiet.

Talking with a very good friend last week who has 2 big boarding/breeding farms. If he could get 1 more dollar than he owes he would be gone in a heart beat.

I was told that mare bookings to Spendthrift stallions is down close to 700 compared to the number of mares that were booked at the same time last year. That’s a scary number. There’s plenty of money for maybe the top 20% bred each year. 20% may break even, and the rest if not more are sold at a lose.