Chicagoan Philip Teinowitz, owner of Cryptoclearance, dies at age 92

Philip Teinowitz, who campaigned Grade 1 winners Cryptoclearance and Strategic Maneuver, has died at age 92.

Teinowitz, a Chicago businessman and real estate developer who was involved in the development of the Sears Tower, died Sunday at Northwestern Memorial Hospital, according to the Chicago Sun Times.

Teinowitz's most successful runner was Cryptoclearance, who he purchased for $190,000 at the 1985 Keeneland September yearling sale. The horse went on to earn more than $3.3 million.

“He used to say he needed Cryptoclearance to make up for all his other losers,” his son Billy Teinowitz told the Sun Times.

Cryptoclearance went into the 1987 Kentucky Derby as a three-time stakes winner, including a victory in the Florida Derby. He would finish fourth in the Kentucky Derby and third in the Preakness Stakes behind Alysheba, and then second in the Belmont Stakes to Bet Twice. Cryptoclearance went on to win the Grade 1 Pegasus Handicap later that year, and the Donn Handicap and Widener Handicap, both Grade 1 races, in 1989. In total, he won or placed in 21 graded stakes.

Teinowitz also campaigned Strategic Maneuver, who won five of her six outings as a juvenile, with Grade 1 scores in the Spinaway and Matron Stakes.