Bill Oppenheim, June 30, 2004–Smarty Jones: Three Chimneys “The 40-share syndicate is a vestige of the days FROM THE DESK OF... when stallions covered 50-70 mares,” Rosenberg continued. “A 60-share syndicate enables us to value Bill Oppenheim the horse at a level everybody can handle, while not in any way compromising the horse's breeding program in the contemporary environment.” It's a radical proposal, SMARTY JONES: THREE CHIMNEYS but if it flies, it may signal a new round of stallion In the early 1990s, the bloodstock market in the U.S. syndications--something that would be welcomed by a and Britain had crashed, plummeting to 20-year lows. lot of people who like owning stallion shares, but have Japan's economy was still riding high, and one after found the pickings to be slim-to-none in recent years. another Japanese interests were picking off the cream Smarty Jones's 60-share syndication may signal an end of the American and European stallions and mares. But to that drought. as early as 1991, Danehill was covering mares in both hemispheres, and by the middle of the decade Coolmore's policy of 'dual-hemisphere' stallions created DAYLAMI UP TO THIRD First Fasliyev made a Fappiano-like start among last enough of a revenue stream--aided by the market year's European freshman sires. Then Cape Cross recovery--that American and European studmasters exploded at the beginning of this season, and when could once again be competitive for the top stallion Ouija Board put up the season's most impressive prospects. European Classic performance in her seven-length Now the virtual doubling of stallion books in a Epsom Oaks win, Cape Cross passed Fasliyev for the covering season has contributed to Three Chimneys first time to lead the cumulative European second-crop Farm's ability to put a deal together to stand Smarty table (see p3). Now, with Grey Swallow's Irish Derby Jones, at a reported valuation of $39-million: 60 shares win, Daylami--with far fewer foals and runners--has at $650,000. While Three Chimneys president Dan claimed third spot on the second-crop table. He Rosenberg wouldn't confirm the $39-million valuation, displaced Orpen, who does have only two SWs among he did confirm yesterday that the deal does involve a his 105 runners, but both are Group winners and 60-share syndicate, a 110-mare ceiling (plus one include another real-world Classic winner in this year's Breeders' Cup nomination), and an every-other-year French 1000 Guineas winner, Torrestrella. All four sires bonus structure, which will effectively mean have now passed the £1-million mark in cumulative shareholders will get six seasons over the first four progeny earnings (Northern Hemisphere crops only). years. “We're absolutely thrilled to have the privilege of I remember watching an interview a year or so ago, standing Smarty Jones,” said Rosenberg. “We knew when Saeed bin Suroor was asked what horse he from standing horses like Seattle Slew how much thought was the best he'd ever had through his hands, charisma these really great horses have, and Smarty other than Dubai Millennium. Bin Suroor thought for a Jones has it. He has this cachet, in my opinion, minute; Daylami, he said. Hmmm, said I. You know because this horse has brilliant speed which he can how obsessed I am with the whole idea that a true carry over a distance, and is from arguably the best assessment of ability--whatever that means--is the most family in the stud book. We think he has unlimited important pointer of all in this game. I took that potential as a stallion. So we were very keen to try and comment as a tip that Daylami should be taken very get him; but, obviously, we had to be creative to put a seriously as a sire prospect, and, sure enough, in this deal together that would work for the Chapmans, the case it looks like the correlation works. farm, and the prospective shareholders. The expansion Now, as for Cape Cross...well, bin Suroor trained of sires' books provided us the key to putting the deal together,” Rosenberg explained. him, too, and while he was a nice horse, his claim to fame was that on three separate occasions as a four- FAST. SOUND. HONEST. Grade I winning multimillionaire who ran the fastest mile and an eighth in South Florida history, and the fastest mile and a quarter EVER by a 3-year-old in New York. Grade I Winner of over $3 million www.threechimneys.com ALBERT THE GREAT (859) 873-7053 First yearlings sell beginning next month. and five-year-old, he led all the way to upset more and it's hard to see it passing when the popular fancied stablemates in top mile races. Cape Cross Governor dissmisses it so readily. But, you know what, proves that a horse can be a top sire without having it doesn't even include all the state's racetracks (Del been an absolutely top-class racehorse; Daylami is in Mar and Oak Tree not included). And isn't it terribly the process of proving that an absolutely top-class short-term to be depending on other forms of gambling racehorse can sometimes make a sire. Fasliyev had to prop up horse racing anyway? How long can that already proved that a very precocious top-drawer last? Horse racing needs to address its own problems. six-furlong two-year-old can sire very good Doesn't this prove why racetracks can't be depended two-year-olds. on to make the right decisions for horse racing? They It's beginning to look like quite a deep group, this have their own agendas, which sometimes do and contingent of European second-crop sires this year, sometimes don't coincide with the interests of the rest much like the North American third-crop group which of the industry. What's to say horse racing won't end includes Elusive Quality, Grand Slam and Tale of the up being a sideshow for racinos, and from there it's not Cat. Fifth-ranked Dr Fong, for example, has had lots of too big a leap to deciding they can do without those runners in the right sorts of races, and included among messy live horses. his four SWs is the G1 winner Ask for the Moon. Even a little group of four sires ranked 13th-16th are 1999 TIMEFORM RATINGS all showing promise: Soviet Star's first SW back from Japan (in his second crop back) is last weekend's G2 Horse (Age) Ranking Railway S. winner Democratic Deficit, who upset the DAYLAMI (5yo) 138 previously unbeaten Russian Blue. In 14th is another CAPE CROSS (5yo) 129 Green Desert son, Shinko Forest (he also has #1 Cape Cross and #9 Desert Sun), whose Moss Vale is going FASLIYEV (2yo) 120 for next week's G1 sprint, the July Cup. Next is Docksider, up four spots to number 15; his runners starting to make an impact, especially in 1m-10f handicap company; and in number 16 is Tiger Hill, sire See chart following page. of seven stakes horses, four of them SWs, and a son of Danehill who could now make his mark in Germany, having sired this crop in France. He had been third to Sagamix, as a three-year-old, in the 1998 Arc. MILESTONES Peter Savill retires today after six years as Chairman of the British Horseracing Board. He came as close as anybody ever could have to unifying a racing industry, an accomplishment which is made 10 times the more remarkable because bookmakers have really had a hammerlock on the politics of racing in Britain for 40 years. The bookmakers in Britain are analagous to the state regulation of racing in the U.S. in that they effectively counter all moves which could otherwise unify the industry. Peter Savill was not universally loved during his tenure as, effectively, the CEO of British racing, but he was universally respected. He is succeeded by the much lower-key Martin Broughton. The other major interest group in the politics of racing, in America and Britain both, is the racetracks. In America, the issue of slots at racetracks is a huge one, so much so that almost every racetrack which is prospering is doing so because of video 'slot machines'. Supposedly slots could cure California as well...at least, the California racetracks, including Santa Anita and Hollywood, which have an initiative on the November ballot. The chances of that initiative passing were dealt a blow when California Governor Schwarzenegger reached an agreement with the Indian tribes which will essentially wipe out the state's huge budget deficit, from what we read. As soon as he'd done the deal, the Governor pronounced the racetrack slots issue dead in the water, LEADING EUROPEAN SECOND CROP STALLIONS (In Order of Prize Money by Northern Hemisphere-breds Worldwide 2003 - 2004) Rnk Stallion (YOB) Sire Rnrs Wnrs Wins Total £ SW SP 1 CAPE CROSS (1994) Green Desert 94 48 84 1,567,673 8 8 2 FASLIYEV (1997) Nureyev 114 52 89 1,421,310 8 4 3 DAYLAMI (1994) Doyoun 51 22 38 1,117,185 4 2 4 ORPEN (1996) Lure 105 55 90 1,050,778 2 6 5 DR FONG (1995) Kris S. 80 33 50 651,876 4 4 6 DAGGERS DRAWN (1995) Diesis 71 35 58 615,238 0 2 7 GOLD AWAY (1995) Goldneyev 43 14 33 583,913 2 1 8 INTIKHAB (1994) Red Ransom 62 28 43 535,519 1 3 9 DESERT SUN (1988) Green Desert 58 23 38 451,683 2 0 10 VERGLAS (1994) Highest Honor 31 15 26 420,370 2 3 11 SECOND EMPIRE (1995) Fairy King 63 26 42 384,889 2 1 12 PRINCELY HEIR (1995) Fairy King 16 9 15 360,777 2 0 13 *SOVIET STAR (1984) Nureyev 69 24 32 335,424 1 4 14 SHINKO FOREST (1993) Green Desert 46 17 34 334,268 1 0 15 DOCKSIDER (1995) Diesis 60 23 32 293,499 1 0 16 TIGER HILL (1995) Danehill 34 15 25 273,820 4 3 17 LORD OF MEN (1993) Groom Dancer 42 16 32 271,557 0 0 18 DANZERO (1991) Danehill 52 15 22 256,361 0 1 19 INDIAN ROCKET (1994) Indian Ridge 39 18 39 243,445 1 0 20 DUSHYANTOR (1993) Sadler's Wells 14 5 7 178,495 0 1 This table includes stallions with first Northern Hemisphere crop in 2001 * First Irish crop in 2001 Statistics by Hyperion Promotions Ltd.