In 2011, Adena Springs founder, Frank Stronach, set out to revolutionize thoroughbred race horse ownership. He established what was called the Horse Racing League. In essence, six partnership “teams” were formed which each included 20 horses purchased at the 2011 yearling auctions around North America. Individuals could then buy into one or more of these teams. It was initially set up that each league would sell 405,000 common shares for $10 apiece. Due to SEC regulations, that plan was scrapped and the teams were set up as limited partnerships. For reasons that were never disclosed, the Horse Racing League never truly got off the ground, despite the formation of the teams and purchase of more than $7 million worth of bloodstock, the plan was ultimately scrapped, barely into the horses’ 3YO year. The vast majority of stock was dumped in claiming races or sold privately. However, there are still just a few that race in the name of their original team.I read about the Horse Racing League early in the process and I was extremely intrigued. I decided to add all the horses to my virtual stable and have been following them ever since. Early in January, I searched all of the horses in the league to see what had become of them.What I found was very telling. Some of the results are very impressive. Some of the results are somewhat surprising. I am sharing this information to show just how difficult success is to come by in this industry and not to disparage any individual or organization in any way. Adena Springs has nearly unlimited resources at their disposal in terms of finances and exceptional horse people. We have the utmost respect for all they do for this industry on the track, in the breeding shed and elsewhere.Some of the highlights are below. At the age of 5 now, some of these horses are still in active training and these numbers may have changed since the first of the year.
– 120 horses purchased for a total of $7,395,338 and an average price of $60,794.
– Only 27 of 120 horses raced at the age of 2 for 22.5%.
– 99 of 120 horses have made at least one start for 82.5%
– 75 of 120 horses have won at least one race for 62.5%
– 50 of 120 horses have won more than one race for 41.67%
– 5 of 120 horses have won stakes races for 4.17%
– 1 of 120 horses has won a graded stakes for 0.83%
– 54 of 120 horses have made 10 or more starts for 45%
– 51 of 120 horses have made 5 or fewer starts for 42.5%
– 45 of 120 horses have earned more than their purchase price for 37.5%
– 26 of 120 horses have earned more than twice their purchase price for 21.67%
– 5 of the 10 highest priced yearlings ($150,000 – $380,000) have not yet made a start
– 0 of the 10 highest priced yearlings have earned more than $40,000
– 18 horses were purchased for $100,000 or more – only 1 of those has earned more than $100,000
– Hardest Core is top earner at $842,580 – he was purchased for $87,000
– 12 of 120 have earned more than $100,000 for 10%
– The 10 most expensive horses cost $2,229,000 and have earned $109,079
– The 10 least expensive horses cost $78,100 and have earned $246,755
– The average purchase price for the top 10 earners is $51,964
– The most starts by any horse is 31
– Two horse are tied for the most wins at 6