July 18, 2021
It has been well publicised that the Spendthrift operational model takes a different philosophy from what would appear to be the status quo of most of the world’s breeding industries.
Mr. Hughes strongly supports the notion that grassroots breeders are the backbone of the industry and without them, his investment will be short-lived.
It is this philosophy that drives the Spendthrift team to continually invest strategically in the development of their infrastructure as well as their product offerings such as the innovative Breed Secure and Share The Upside programs. Spendthrift are also major partners of the Werribee and Pakenham Racing Clubs.
“We are all in this together,” explained Mr. Hughes. “The whole industry needs each other. Nobody is standing alone in this business, and that’s something we all need to bear in mind.”
Giving back to the industry that has provided so much already to Mr Hughes, Spendthrift purchase yearlings with the long term aim to grow and race them in Australia and eventually feature them on the Spendthrift stallion roster.
“It’s the basis of what we do here,” said Garry Cuddy.
“It’s also easier said than done, but 3 of our 6 stallions on the roster this year have been purchased as yearlings, raced well here and are now standing. It’s tough at the sales against the bigger players also looking to purchase a future stallion prospect, but our team is doing a great job.”
Well-bred mares and fillies, such as Santa Monica and Solar Star, have been secured to assist in not only upgrading their broodmare band, but to support and compliment the Spendthrift stallions.
Champion American racehorses Vino Rosso and Omaha Beach are two such stallions. With fantastic global pedigrees to match their impressive race records, where they strode to exceptional victories in the famous Spendthrift silks, both horses had full books in their first seasons.
The good-looking son of Redoute’s Choice, Swear, is another stallion that started his career racing in the Spendthrift orange and purple colours. As Spendthrift’s first Australian yearling purchase to become a stakes winner, he has started his stud career with good success.
Overshare, the handsome son of I Am Invincible, is the next yearling purchase to stand at Spendthrift, while brilliant sprinter Dirty Work will complete a trio this season.
“Buying these stallions as yearlings ensures there is no unrealistic purchase price to recoup, once the horses have shown their racetrack ability,” said Cuddy. “This allows us to stand them at fair and reasonable fees, whilst also offering generous terms through supportive initiatives for breeders.”
Or as Mr Hughes puts it, “we own our horses and we can do what we want with them. We cannot and must not leave the breeder out.”
This guarantee extends to their Victorian home, where the stallions – and Spendthrift Farm, are comfortably secured. Success will not come with the risk of the stallions being relocated.
“Victoria is Spendthrift’s Australian home,” explains Cuddy. “We are investing in its future.”