05/26/2005 11:00PM

Alex's owners return to the scene

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LEXINGTON, Ky. - The Cash Is King Stable, which owns recent Preakness winner Afleet Alex, lived up to its name at the May 23-24 Fasig-Tipton Midlantic juvenile sale.

The partnership group plowed some of its profits from Afleet Alex's racing career back into the 2-year-old market at the very sale from which it bought its star for $75,000 last year. Trainer Tim Ritchey bought three horses for Cash Is King at the Timonium, Md., auction: a $125,000 Old Trieste-Surf City filly, a $75,000 Two Punch-Marion's Dover filly, and a $30,000 Northern Afleet-Twice as Real colt.

"Basically, the money we're making we're putting back into racing," said Chuck Zacney, Cash Is King's managing partner and the owner of The Sirrus Group, a regional medical billing company in Pennsylvania. The rest of the group comprises real estate investors Robert Brittingham and Joseph Lerro; Joseph Judge, director of patients' accounts at Our Lady of Lourdes Hospital in Delran, N.J.; and Jan Reeves, vice president of The Sirrus Group.

Zacney, 43, said the stable could own as many as 20 horses. The group intends to grow enough to spread some of racing's risks, but stay small enough to keep doing what those in it got in the game for: to have fun.

"We got a couple of yearlings and weanlings last year, too," Zacney said. "We're pretty well diversified. I think you need to have a combination of new horses coming up as well as some 3-, 4-, and 5-year-olds out there running and earning. We're also looking for a couple to maybe claim at Delaware Park."

Zacney attended the record-breaking Fasig-Tipton Midlantic sale, which took place two days after the Preakness. Being back at the scene of Cash Is King's purchase of the Preakness winner stirred fond memories, but Zacney is still letting trainer Ritchey handle the horse stuff.

"I don't know what I'm looking at," he acknowledged. "They're all pretty to me. I would be coming home with a trailerful of horses."

How to spend newfound money

The Kentucky Thoroughbred Farm Managers' Club will discuss plans for distribution of money under Kentucky's new Breeder Incentive Fund at its monthly meeting June 7 in Lexington.

Under the plan, revenue from the state's 6 percent sales tax on stud fees would go toward the Kentucky Thoroughbred Breeder Incentive Fund, as well as toward similar programs for Standardbred and other-breed funds. The revenue for the Thoroughbred fund is expected to slightly exceed $11 million after money starts accruing to it on July 1.

What has yet to be decided is exactly how that money will be distributed. At issue is whether the funds should go to Kentucky-bred winners across the nation and around the world or whether the breeders' awards should apply only to Kentucky races. The Kentucky Horse Racing Authority has asked the Thoroughbred industry to determine a single distribution plan and present it in writing by July 1.

Those interested in attending should make reservations with Linda Javid at (859) 296-4279 or via e-mail at website@KTFMC.org.

Court rules against bloodstock agent

Prominent British bloodstock agent Anthony Penfold, former bloodstock manager for the late Fahd Salman's Newgate Stud, has been ordered by a British High Court ruling to pay approximately $1 million to the stud.

In a 60-page decision handed down Wednesday and reported by the Racing Post, Justice David Richards ruled that Penfold had violated a regulation requiring a company director to obtain informed consent of shareholders before trading with the company.

The case involves the sale of two Newgate mares, Solar Star and River Jig, to partnerships in which Newgate claimed Penfold had an undisclosed interest. Penfold has denied purchasing any interest in the mares. Justice Richards said that Penfold did not make a deliberate decision not to tell Salman of the transactions and said the agent's actions "did not involve dishonest concealment."

* Two-time champion turf horse and Epsom and Irish Derby winner High Chaparral will shuttle from Coolmore's headquarters in Ireland to Windsor Park Stud in New Zealand for the coming Southern Hemisphere season. The 6-year-old High Chaparral is standing in Ireland for about $37,733 and will have a fee in New Zealand of about $15,727.