News

Inglis Shows The Power Of Working Together

13th Apr 2015

Grant Pritchard-Gordon - RacingPost.com - Monday, 13 April 2015

Have we just seen the future? Is this how the bloodstock world is developing? Those were the overriding thoughts as a quite remarkable Inglis Easter Australian Yearling Sale drew to a close in Sydney on Thursday.

The Inglis team must be heartily congratulated on attracting the most international bench of buyers ever seen at an auction. However, they will be the first to admit this owes much to the vision of Racing New South Wales to focus their championship race days either side of the premier yearling sale in the southern hemisphere. The power of working together - a theme that overflowed into the sales ring and contributed to a massive increase in turnover.

It would appear the future of racing and breeding at the upper level now lies in strategic alliances between major international investors, pooling their resources to share the rewards and fun of racing horses together.

No longer is our sport driven by "my horse is better than yours". Now the emphasis is on a shared experience among friends with the same ambitions to compete at the highest level.

The catalyst for this subtle change could be attributed to Malaysian businessman Teo Ah Khing, chairman of the China Horse Club. The influence of this new force in worldwide racing was first felt a couple of years ago in this same auction ring. However, the initial reaction was one of scepticism; could China become a force in a predominantly western sport?

The last 12 months have answered that question. The China Horse Club has been a partner in the Epsom Derby winner Australia, has raced the leading Australian filly First Seal, and partnered in leading colt Dissident and likely champion two-year-old Pride Of Dubai.

At least eight Group 1 wins, and still counting.

The China Horse Club has an advisory board that includes the international influences of John Magnier, John Warren and Andreas Jacobs. Following this week's sale, it will now race horses in Australia with the American powerhouses of Winstar Farm and Stonestreet Stables. It will also campaign horses internationally with Sheikh Mohammed bin Khalifa Al Maktoum.

In Australasia strategic alliances have been forged with the influential Jonathan Munz and, of course, Coolmore. It made more than 20 purchases with partners, some of whom are still to be divulged.

Angus Gold was again the biggest spender for Shadwell and many of his purchases will head to South Africa to join Mike de Kock's international stable.

Another major South African spender was Hassan Adams, with five yearlings purchased through James Bester.

With news breaking that the historic Kentucky farm Spendthrift has just bought the Victorian nursery Yallambee Stud, it was no surprise to see its principal B Wayne Hughes buying strongly.

The Japanese were very active with the Yoshida - perhaps the world's largest breeders - buying more than usual. Hong Kong was again a major supporter of the sale, both through the Hong Kong Jockey Club and local trainers, especially John Moore.

The Chinese influence was again felt with the spend of Sun Bloodstock and Inner Mongolia Rider Horse Industry. Several European agents were busy, notably Dermot Farrington (with six purchases) and my own Badgers Bloodstock (with five), while Adrian Nicoll fronted yet another international syndicate that introduces the Niarchos family to Australian racing.

ROUND every corner of the sales complex there was to be found a major international player, so it was no surprise that the home team of investors could barely muster 50 per cent of the gross spend. Inevitably the big trainer names of Gai Waterhouse, John Hawkes, Peter Moody, Chris Waller, David Hayes and Mick Price were present on the sales results, but their focus of attention was more on getting alongside the international players to ensure they benefited from the largesse of these enthusiasts.

In fact, the only criticism of the sale could be the lack of participation from the second rung of Australian trainers, who may have been put off by the strength of the international funds.

With the dramatic collapse in the value of the Australian dollar on the back of a major downturn in the mining industry, this dominance of overseas money may be a pattern that grows stronger.

Notable absentees on the sales results were Darley or Qatari representatives. So it seems a successful auction can still happen without such major international investors!