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Spendthrift expands Breed Secure program to 10 Kentucky stallions
B. Wayne Hughes’ Spendthrift Farm in Lexington has expanded its "Breed Secure" program to include nearly its entire roster of Kentucky-based stallions, effective immediately.
The Breed Secure program was launched two years ago to relieve commercial breeders of the risk of paying stud fees on some of Spendthrift's young stallions. The program guarantees a profit to breeders who sell the resulting in-foal mare, weanling or yearling at public auction before a stud fee is owed.
Hughes says the initiative will continue at Spendthrift, and believes this type of arrangement is an alternative to traditional foal sharing ventures between stallion and mare owners.
"The bottom line is that breeders deserve a better deal," Hughes said. “Our Share The Upside program has been a successful way to give breeders a real opportunity to benefit from the upside in the career of the stallion they wish to support, and makes it more of a fair partnership between the breeder and stallion owner who do business together on an unproven stallion. It’s been a very popular program, and we’re already seeing a successful scenario play out with Into Mischief, our first-ever stallion in the program.
"Breed Secure is a program we also started last year with Into Mischief, and after seeing the positive effects we have decided to offer it almost across the board on our stallions," Hughes said. "I believe it’s a far superior alternative to foal sharing, and maybe it will eventually replace foal sharing in the industry. Breed Secure allows commercial breeders to breed a mare to a stallion of their choice without having any risk as it relates to the stud fee. When that breeder goes to sale, if he or she doesn’t make a reasonable profit, then not a dime of the stud fee will be owed to Spendthrift. Hopefully there is a tremendous profit made at sale, and when that happens, he or she would only be responsible for paying back the stud fee and not a dime more."
Spendthrift stallions Archarcharch, Dominus, Line of David, Notional, Paddy O’Prado, Temple City, Tiz Wonderful, Tizway, Warrior’s Reward and Wilburn are all now offered under the Breed Secure program. After selecting the stallion of choice and getting a mare in foal, the breeder has the freedom to choose the sale and age of which to sell. The options include selling the mare in foal at public auction, selling the resulting weanling at public auction, or selling the resulting yearling at public auction. Upon sale, the breeder gets the first proceeds up to $10,000 for an in-foal mare, up to $6,000 for a weanling, or up to $12,000 for a yearling. Any dollars after those amounts go towards paying back the stud fee, and once the stud fee is paid back, the breeder retains the balance. Any shortcomings are forgiven if the sale does not meet the minimum for Spendthrift to receive any proceeds. Spendthrift is only entitled to receiving a maximum of the full amount of the stud fee and nothing more.
Spendthrift stallion Malibu Moon, sire of Fountain of Youth winner Orb, is not eligible for the Breed Secure program.