Harness: Dual eligibility provides another benefit for yearling buyers

When buyers arrive in Lexington, they will have a fairly new wrinkle to consider as they inspect and deliberate which yearlings they desire. That wrinkle is the vast number of yearlings offered possess eligibility to Sire Stakes programs in more than one jurisdiction. In fact, nearly half (49.16% to be exact) of the yearlings to be offered in the Lexington Selected Yearling Sale are eligible to more than one states’ Sire Stakes programs.

What does this mean? Most opinions are that a horse who is eligible in two Sire Stakes programs will bring a higher price at auction than had that yearling been eligible in just one program.

“The dual eligibility will only give buyers more options when racing, which can only be viewed as a good thing (when looking at a yearling) and it should have a very positive impact on the appeal of certain yearlings,” said Bob Boni, Owner and President of Northwood Bloodstock Boni added. “If it suits your program and economics, there is no reason not to participate.”

A part of those economics is the costs associated with having a yearling earn eligibility in a second jurisdiction. The best example of this is Kentucky, where in order to gain eligibility for a yearling, the mare in foal is required to spend at least 180 days on the ground in the state. There are costs associated with such an arrangement, including shipping, stall rental, etc. Not every owner of a broodmare is in a financial position to take advantage of that opportunity. Boni noted that it should come as no surprise that many of the yearlings with dual eligibility in Kentucky were bred by farms with a Kentucky presence.

What do the numbers look like? The jurisdiction with the largest presence is Pennsylvania. In fact, 51.62% (399 in total) of the horses offered at the Lexington Selected Yearling Sale have eligibility in the Keystone State. Of those yearlings, nearly half, 184 in total also have eligibility in Kentucky. Beyond Kentucky, another 32 yearlings offered have eligibility in Pennsylvania and another state.

If you are in the market for a yearling eligible to the Kentucky program, there are 316 with such eligibility, of which just nine are only eligible in Kentucky. The most interesting of those nine, in my opinion, comes on the first night of the sale. HIP No. 37 is a colt by Love You out of a mare that is a full-sister to Hambletonian Champion Trixton (Muscle Hill – Emile Cas El). Steve Stewart of Hunterton Farms informed this publication that, “there weren’t a lot of choices for Muscle Hill mares at this time, so we decided on a total outcross.”

Aside from combinations with Kentucky, the most prominent dual-eligible yearling offering is actually New York and Maryland. That combination sends out 28 yearlings at the sale.

One of the big stories heading into this sale will be the popularity of New Jersey yearlings. This is the first major yearling sale since the purse appropriations bill in New Jersey was passed and there are guaranteed increases in the Sire Stakes program in the Garden State. Of the 84 New Jersey-sired yearlings, just 34 are New Jersey only. There are 47 yearlings that have eligibility in both New Jersey and Kentucky. The prospects of this sale and it’s reflection on New Jersey has Mike Gulotta, C.E.O. of Deo Volente Farms excited. “There is no question this sale will be positively impacted,” said Gulotta. “It has added opportunities that buyers will pay a premium for.”

With the dual eligibility, sports betting revenue for purses and purse appropriations bill, there is no shortage of reasons to invest in New Jersey-eligible yearlings. “As it turns out, the dual-eligibility for New Jersey-sired yearlings is less important now than when it was enacted,” added Gulotta. “In addition to that dual eligibility, the Sire Stakes purses have been increased by 60%, there are breeder rewards built into the program, there is the Standardbred Development Fund, a new bonus program for New Jersey Owned and Sired horses in overnight races and we are adding sire stakes races, including for 4-year-olds. There are many more reasons to invest in New Jersey than just one year ago.”

Gulotta’s excitement centers around Trixton, who has had a great start to his career as a stallion. As of September 23, Trixton ranks fifth in earnings with both 2-year-old and 3-year-old trotters. His sophomore trotters are closing in on $2 Million in earnings this season, led by Evident Beauty, recent winner of the Elegantimage and a contender for divisional honors. Trixton’s rookies are also closing in on $1 Million this season. Perhaps the prize of the Deo Volente cast of yearlings will be HIP No. 78, a Trixton colt whose dam is a half-sister to Pampered Princess and international standout Was It A Dream. Additionally, on the subject of dual-eligibility, Trixton has a filly from the family of Godiva Hall on night two, HIP No. 235, which is eligible in both New Jersey and Kentucky. Gulotta said that physically she is “sensational” and he is expecting her to be one of the stars of her session.

Another prominent figure in New Jersey, Meadowlands Chairman and owner of Allerage Farm, Jeff Gural sees the large number of yearlings with dual eligibility as a positive across the board. “I think it is an advantage for both (buyers and sellers),” said Gural. “The seller, as I would expect, it would increase the sale price. It is also an advantage for the buyer, but in the end you need a good horse to really benefit.”

Gulotta and Gural are both right, there is an abundance of positive news that should support the New Jersey-sired yearlings this sale season, but in an ironic twist the dual eligibility for those 50 yearlings was almost unnecessary given the positive changes that have occurred in the Garden State. It is fair to wonder if we will continue to see this number of horses eligible in both New Jersey and Kentucky in the coming years.

The good news is that the opportunities for many yearlings offered at this year’s Lexington Selected Sale is unlike anything we have seen before. There are 380 yearlings that are eligible to a sire stake program in more than one jurisdiction, including 18 Ontario-sired yearlings that have eligibility in Kentucky. The added incentive, if your colt or filly is a cut below the best of Pennsylvania for example, maybe he or she will fare better in Kentucky. Perhaps that colt or filly is also eligible to the New Jersey Standardbred development fund races, offering an opportunity not seen in New Jersey since the Sire Stakes and Green Acres races at Freehold. The theme for this year’s sale season is clear, less risk with greater reward.