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Spendthrift expands Breed Secure program to New York
Spendthrift farm is enrolling New York stallion Dublin in its Breed Secure program, which was launched two years ago to relieve commercial breeders of the risk of paying stud fees on some of its young Kentucky-based stallions.
The Breed Secure 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.
“Owning the stallions outright gives us the flexibility to offer unique, breeder-friendly deals that puts Spendthrift and the breeder on a level playing field,” Spendthrift owner B. Wayne Hughes said. “It's really simple—we don't make money unless the breeder can make a profit that will justify paying the cost of the stud fee. If breeders are willing to support young and unproven Spendthrift stallions in good faith, I think it's only right to return the favor and relieve breeders of the risk taken on by their patronage. We want breeders to believe in our product as much as we do. The program has been very well-received in Kentucky, and we hope the breeders of New York will be equally as enthusiastic.”
Dublin stands for Spendthrift at Keane Stud in Amenia, N.Y. He will stand in 2013 for $7,500 when the foal stands and nurses.
Dublin won the Grade 1 Hopeful Stakes at Saratoga in 2009 and earned three other graded stakes placings, including a third-place effort in the Grade 1 Arkansas Derby.
The 5-year-old Afleet Alex horse covered 102 mares in his introductory book; his first foals arrive in 2012.
Among the Kentucky stallions enrolled in the Breed Secure program is freshman sire Into Mischief. The 7-year-old Harlan’s Holiday horse is has sired three stakes winners from his first crop, including Grade 3 winner Goldencents.
“We are already seeing the program work mutually for Spendthrift and the breeders,” Spendthrift stallion director Ken Wilkins said. “Breeders who supported Into Mischief in 2012 are now close to having a foal by arguably the hottest freshman sire in North America. That puts these breeders in a good position to enter the market with a product that is likely to be in demand, and do so with no burden of the stud fee as a risk.”