Spendthrift has lots of fingers in this year's Derby pie

Spendthrift Farm’s orange and purple silks will be carried by just one horse in the Kentucky Derby. But, in addition to focusing on dominant Blue Grass winner Further Ado, the farm’s principals could be forgiven if their eyes stray elsewhere in the big field on Saturday.

Along with Further Ado, a son of Gun Runner who Spendthrift purchased as a 2-year-old, the farm has rooting interests in six other colts in the Derby field who are by the farm’s stallions and owned by others. Morning-line favorite Renegade, Commandment, and Potente are all by Spendthrift kingpin Into Mischief, the nation’s seven-time reigning leading sire who is seeking to become the first stallion ever to sire four Kentucky Derby winners. His previous winners are Authentic (2020), Mandaloun (2021), and Sovereignty (2025). Authentic raced for Spendthrift in partnership.

“Special, special horse,” Spendthrift general manager Ned Toffey said. “Couldn’t be more special for us or for the farm.”

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Intrepido is by Maximus Mischief, a son of Into Mischief who stands alongside his sire at Spendthrift. The farm’s 2025 leading freshman sire Yaupon is represented by Albus from his first crop, while 2022 leading freshman Bolt d’Oro has Incredibolt in the field.

“It’s a pretty exciting year for us, and lots going on,” Toffey said. “Fingers crossed for a good result.”

Spendthrift was founded nearly 90 years ago by Leslie Combs II. The farm was revitalized into its current era by the late B. Wayne Hughes, starting in 2004. Hughes died in 2021, having seen Authentic win the Kentucky Derby and Into Mischief, who he purchased as a juvenile, rise into prominence. The farm is now owned and overseen by his son-in-law Eric Gustavson and daughter Tammy Hughes Gustavson.

Last year, Spendthrift was a finalist for the Eclipse Award as outstanding owner, fueled by a pair of Grade 1-winning juveniles by Into Mischief – Ted Noffey, a play on Ned Toffey’s name, and homebred Tommy Jo, named for the Gustavsons’ granddaughter.

Ted Noffey was considered a very early favorite for the Kentucky Derby, but was declared out of the picture in January due to bone bruising. As his peers prepare for the Derby, Ted Noffey is progressing well, according to Toffey, jogging and getting additional exercise on a water treadmill. He may begin light gallops soon.

But Spendthrift had another colt waiting in the wings. Further Ado, bred by John Oxley, was purchased for $550,000 out of the 2025 Ocala Breeders’ Sales Co.’s spring sale of 2-year-olds in training. He had breezed a quarter-mile in 21 1/5 seconds, impressing the team.

“That’s what really stood out was his breeze,” Toffey said. “It was very good, very much within himself, and he was a horse who looked like he could just keep going. He’s got a lot of Gun Runner about him. Just a beautiful, classy, well-bred horse. . . . He discovered that he liked two turns pretty well, and he kind of hasn’t looked back since then.”

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