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On December 28, 2025, on the opening day of Santa Anita Park’s winter meet, the atmosphere in Arcadia, California, was different. For the first time since the 1950s, the California racetrack did not open its season on December 26, as heavy rainfall forced the postponement of the opening to Sunday the 28th. The new date generated controversy on social media because it coincided with NFL games. However, the public responded, and the track welcomed a strong crowd despite competing with the most popular sport in the country. That afternoon, California racing once again showed its best version, with the Malibu Stakes (G1) and the La Brea Stakes (G1) being contested, both for the 2022 crop, along with several runners trained by Bob Baffert who played leading roles throughout the day. Usha (Tiz The Law) wins her first Grade 1 in the La Brea at Santa Anita Park. Within the context of the opening day, the La Brea Stakes, a 7-furlong race on dirt for three-year-old fillies, was not the strongest Grade 1 on the calendar, but it was certainly an appealing contest. The presence of Bob Baffert with four runners added stature to what otherwise would have been a modest field. The California-based trainer, long a symbol of West Coast racing, used his fillies to sustain the competitive level of the circuit; without his participation, the race would have lacked depth. Even so, the public knew the filly to watch was Usha, a daughter of Tiz the Law trained by Baffert, who had already shown flashes of talent at Del Mar and was returning to the West Coast after a disappointing trip to Kentucky. Usha is owned by a partnership formed by Mike Pegram, Karl Watson, and Paul Weitman, longtime associates of Baffert and owners of several top-level runners. The filly took time to fulfill expectations, requiring five starts to break her maiden. After finishing second and third on multiple occasions, she finally put everything together at Del Mar in August, winning decisively and turning early frustration into optimism. Two weeks later, she captured a $50,000 Optional Claiming race by 5¼ lengths, again at Del Mar. Those performances established her as one of California’s leading fillies, but her trip to Keeneland in October for the Grade 2 Raven Run Stakes proved disastrous: she became unsettled in the paddock and never got involved, finishing seventh, more than ten lengths behind the winner, Kappa Kappa (Omaha Beach). Baffert later explained that the trip to Kentucky unsettled her: “She lost her composure in the Keeneland paddock and we couldn’t get her relaxed. When she came back to California and settled down, I knew we had to give her another chance.” On December 28 at Santa Anita, Usha repaid that confidence with a commanding performance. The La Brea Stakes (G1) unfolded as a more tactical race than an outright speed contest. Stablemate Silent Law set the pace with fractions of 21.85 seconds for the opening quarter and 44.43 for the half-mile. Baffert saddled four fillies and aimed to apply pressure throughout to set the race up for Usha. The betting favorite was Formula Rossa, while Usha went off as the third choice at 5.60-1. After breaking cleanly, she settled in sixth without expending energy. Entering the far turn, jockey Juan Hernández spotted an opening between Artisma and Silent Law and took it without hesitation, seizing the lead before straightening for home. From there, the race became one-sided. Usha widened her advantage with every stride and crossed the wire 5¼ lengths clear of Formula Rossa, stopping the clock in 1:21.68. The final fractions were emphatic: 1:09.38 for six furlongs, followed by a strong finishing kick that underscored her superiority. Simply Joking (Practical Joke) finished third, while another Baffert trainee, Silent Law, checked in fourth. Juan Hernández summarized the race simply: “Early on it got a bit tight and I had to find room. She can get a little nervous sometimes, but today she stayed calm thanks to the work the team did in the paddock.” Baffert, meanwhile, expressed satisfaction with earning his tenth La Brea victory: “She showed the class we always believed she had. We thought she was going to win at Keeneland and it didn’t happen, so today she redeemed herself.” Usha’s victory was not only decisive, it also marked a milestone for her sire, Tiz the Law, who earned his first Grade 1 winner as a stallion. The 2020 Belmont Stakes and Travers Stakes champion, retired by Coolmore after an outstanding racing career for Sackatoga Stable, had seen his early crops perform well, but none had previously captured a Grade 1. Usha’s success represents a major boost for the son of Constitution, who will stand the 2026 breeding season at Ashford Stud for a listed fee of $40,000, up $10,000 from the previous year. Beyond Usha, Tiz the Law’s early runners include Tiztastic, winner of the Louisiana Derby and tenth in the Kentucky Derby, as well as Buetane and Curtain Call, who finished second and third behind Ted Noffey (Into Mischief) in the Hopeful Stakes (G1) at Saratoga. While those offspring had shown promise, none had yet reached the top level. Usha’s victory positions Tiz the Law as a stallion to watch, especially given his pedigree blending the stamina of Seattle Slew through Constitution and the speed influence of Tiznow. The 2025 winter meeting at Santa Anita traditionally begins on December 26, a custom dating back to 1934. However, that tradition was broken this year. Weather forecasts predicted heavy rainfall, an “atmospheric river”, prompting officials to postpone opening day by two days to protect the racing surface. The decision sparked debate on social media, as it placed the opening card in direct competition with the NFL. Ultimately, attendance proved solid, and the crowd responded enthusiastically, enjoying a safe and successful opening day. Despite its Grade 1 status, the 2025 La Brea was not considered a classic renewal of the race. The Southern California calendar has thinned in recent years due to competition from Midwestern circuits and a shrinking local breeding base, often resulting in smaller, uneven fields. In this edition, the lineup lacked proven top-level winners, and Baffert’s quartet, Usha, Silent Law, Brilliantly and Formula Rossa, provided much of the depth. Still, the race delivered intrigue and served as an important measuring stick for the fillies’ future. Historically, the La Brea has launched the careers of elite runners, the latter later becoming a champion sprinter. Whether Usha can follow that path remains to be seen. Her future will depend on how she handles tougher competition and longer campaigns, especially given her previous nervousness away from home. Usha’s commercial story is also remarkable. She was purchased for just $30,000 at the 2023 Saratoga Yearling Sale. Less than eight months later, she brought $600,000 at the OBS April Two-Year-Olds in Training Sale, ranking among the sale’s top-priced offerings. That twentyfold increase reflected strong physical development, an eye-catching breeze, and buyer confidence in her upside. Usha was bred in New York by Esler & Raine and is out of Animal Appeal, a 2012 chestnut mare by Brazilian champion Leroidesanimaux. Animal Appeal won four races, earned $220,298, and placed in multiple stakes. She descends from the family of Chatique, a turf stakes winner, and of Ableton, a notable California sprinter. Animal Appeal was later sold at the Fasig-Tipton Saratoga Fall Mixed Sale for just $9,000 while in foal to Solomini, a price that now appears extraordinarily low given her status as the dam of a Grade 1 winner. The third generation of Usha’s pedigree adds further depth. Leroidesanimaux, her maternal grandsire, was a champion in Brazil and a multiple Grade 1 winner in the United States, including the Citation Handicap. He is also the sire of Kentucky Derby winner Animal Kingdom. This influence contributes stamina and class, complementing the speed inherited from Tiz the Law. Together, they form a balanced genetic profile ideally suited for elite American racing. Bob Baffert’s presence at Santa Anita continues to shape the local racing scene. After years of controversy and suspensions related to medication violations, his return has once again made him the central figure in California racing. His horses account for a large portion of graded stakes runners, a dominance that fuels both admiration and criticism. In the 2025 La Brea, four of the eight runners were from his barn, and he also captured the Malibu Stakes (G1) with Goal Oriented (Not This Time), underscoring his ongoing influence. Looking ahead, Usha’s immediate future will remain in California. Baffert has indicated that her campaign will be carefully managed, with potential targets including the Santa Ynez Stakes (G2) or the Las Virgenes Stakes (G3) before stepping up against older fillies later in the year. The ultimate goal is the Breeders’ Cup Filly & Mare Sprint in October 2026 at Keeneland. With three wins from eight starts and a developing racing style, Usha has the tools to compete at the highest level. The victory in the La Brea Stakes not only elevated Usha’s profile but also reinforced the vitality of California racing at a time when the region faces structural challenges. It confirmed Tiz the Law’s emergence as a significant sire, showcased the value hidden in underappreciated broodmares, and reaffirmed that, when conditions align, Santa Anita can still produce performances of national relevance.

The 2025 Remsen Stakes (G2) not only crowned a new classic winner, it revealed the emergence of a colt who may define next year’s three-year-old crop. Paladin (Gun Runner), a striking chestnut with commanding presence, bred by Summer Wind Equine and acquired by a partnership led by Coolmore, White Birch Farm, and Brook Smith, showed in his first two-turn attempt that he possesses the precise combination of maturity and engine to legitimately aim for the 2026 Kentucky Derby. His victory, achieved under adverse conditions, made it clear that we are witnessing a horse capable of rising above his generation. Paladin (Gun Runner) wins the Remsen (G2) at Aqueduct. Paladin (Gun Runner) made his debut on the track under significant expectations. He was one of the most expensive yearlings at the 2024 Fasig-Tipton Saratoga Sale, sold for US$1,900,000 by Lane’s End Farm on behalf of Summer Wind. That Coolmore purchased the colt, with Summer Wind retaining a share, confirmed that the horse had been selected for a classic campaign — and as a stallion prospect for Coolmore’s international breeding operation. The company led by Magnier rarely purchases colts without a clear projection for stud duty. In Paladin, the convergence of physicality, pedigree, and a classic maternal family justified the investment from the first glance. His victory in the Remsen Stakes (G2) at Aqueduct was a display of grit. With Flavien Prat aboard, Paladin overcame inside traffic, kickback, and a track that severely punished lack of balance. In the stretch, he produced a strong turn of foot, advancing with clean mechanics and a serious “stretch-runner” style typical of horses built for stamina. The context made it even more impressive: Paladin ran the entire stretch without a front shoe and with a laceration on a hind leg, as confirmed by Chad C. Brown’s assistant trainer. Yet he still won, showing the physical and mental resilience that defines true classic winners. Post-race comments were especially telling. Brown described him as “a fresh horse on the Derby Trail”, emphasizing that this was a formative victory, an educational experience that sets the stage for a classic campaign in the coming months. In the trainer’s words: “This was a real education. The horse overcame tough situations on a testing track and responded exactly the way we hoped. He’s a colt with a huge future”, declared Chad Brown. Paladin made the qualitative leap that separates a promising colt from a true classic horse, and responded as if he had already run over two turns several times. The consensus is that his competitive mentality, physical build, and pedigree make him one of the most serious prospects on the East Coast. From a genetic standpoint, Paladin is a deliberately engineered specimen. His sire, Gun Runner (Candy Ride), is one of the most influential stallions in the Northern Hemisphere, with a 2026 stud fee set at US$250,000. The Candy Ride (Ride The Rails) sire line has consistently produced horses capable of running fast and long, two essential attributes for the Derby trail, and Gun Runner is the most successful representative of this branch. His dam, Secret Sigh (Tapit), although unraced, is by the most influential stamina sire in North American breeding. Tapit produces daughters who become exceptional broodmares: they pass on structure, deep lung capacity, stride, and remarkable mental toughness. Secret Sigh adds genomic depth with duplications of Nijinsky and Mr. Prospector, reinforced in Paladin as 5D×5D, contributing to extended stride, elasticity, and functional speed. His second dam, India (Hennessy), was a Grade 2 winner of the Cotillion and a Grade 3 winner of the Azeri, confirming that the family possesses genuine classic class. India is a top-tier producer: she’s the dam of Kareena (Medaglia d’Oro), a classic filly campaigned by Godolphin, and the second dam of Padma (Tapit), a graded-placed filly at Gulfstream. India contributes tactical speed, early maturity, muscle power, and the resilience typical of elite American female lines. His third dam, Misty Hour (Miswaki), is the link that connects American bloodlines to elite European genetic architecture. Misty Hour is by Miswaki, making her a paternal sister to Urban Sea, the greatest broodmare of the modern Thoroughbred era and the dam of Galileo and Sea The Stars. This connection is no coincidence: Miswaki transmits extraordinary fertility, soundness, longevity, and the ability to produce both elite athletes and foundation mares. This deep-rooted lineage explains Paladin’s structural solidity and natural work capacity. The recent family history adds even more value: Secret Sigh is the maternal half-sister to Mozu Ascot (Frankel), a multiple G1 winner in Japan on both turf and dirt. Mozu Ascot is living proof that this family transmits versatility and adaptability, attributes that place Paladin in a genetically exceptional position for a future stallion career. Paladin’s inbreedings are placed with surgical precision. He shows a 4Sx4D in Storm Cat and 5Sx5Sx5D in Fappiano, the core of America’s aerobic engine, along with maternal duplications in Nijinsky and Mr. Prospector, well-balanced and functionally aligned. The result is a genetic architecture that reflects the blueprint modern breeders are searching for. The victory in the Remsen Stakes made him a serious contender for the 2026 classic campaign. After the race, he will ship to Payson Park, where Brown will allow the colt to recover, mature physically, and build a strong foundation. His next start will likely be in the Holy Bull Stakes (G3) in January or the Fountain of Youth (G2) in February, both at Gulfstream Park. There, he may face Ted Noffey (Into Mischief), currently the top-rated colt of the generation. Chad Brown and Coolmore know that a matchup of this caliber will establish the East Coast pecking order and set the tone for the 2026 Derby Trail. Paladin has the engine to compete head-to-head with that level of rival. Paladin is, in short, a colt who checks every box to become a standout in his generation. His pedigree runs deep, his conformation is classic, his competitive mindset is that of a ready-made racehorse, and his Remsen win was proof that he possesses the talent and intelligence needed to navigate the Kentucky Derby trail. He is not merely a promising horse, he is a colt engineered to win major races, built to thrive over classic distances, and destined to leave a mark both on the track and eventually at stud.

The Tattersalls December Mare Sales 2025, held from December 1st to 3rd in Newmarket, once again solidified themselves as the global epicenter where a large part of the future of thoroughbred breeding is decided. With a turnover of 81,583,515 guineas and an average of 140,661 guineas per head, the sale displayed a sustained, deep, and extremely selective market, where the major operations of the world did not come to buy names, but structural pedigrees, complementary biotypes, and genetic tools that project entire generations. But beyond the figures, this edition stood out for its symbolism: the sale of the champion Porta Fortuna coincided with the retirement of the iconic auctioneer John O’Kelly, who received a spontaneous ovation from the public after lowering his gavel for the last time, in one of the most emotional moments in Tattersalls’ recent history. John O’Kelly, historic auctioneer of the English auction firm. In a catalogue loaded with depth, the sale presented a precise radiography of the genetic priorities of the Northern Hemisphere: refined speed, milers with stamina, daughters of new stallions, young maternal lines, and outcrosses compatible with the major stallions of the future. Europe, Japan, the United States, and Australia participated aggressively, showing how each region seeks to resolve its own internal needs through complementary mares. The 2025 edition also confirmed the growing value of in-foal mares by emerging stallions such as Auguste Rodin, whose first pregnant mares reached significant prices, reinforcing the idea that hybrid genetics (Europe × Japan) will dominate the next decade. Within that context, the great protagonist of the auction was Barnavara (Calyx), sold for 4,800,000 guineas to Sugar Whiskey Trading, becoming the most expensive in-training mare in the world in 2025. The filly comes from an ascending campaign: she won a G3 at Naas, captured the Blandford Stakes (G2), and crowned her progression by winning the Prix de l’Opéra (G1). Her trainer, Jessica Harrington, confirmed that the filly will remain in training, a decision that becomes clear when analyzing her physiological and genetic architecture: Calyx contributes explosive speed, while the maternal family supports an aerobic engine that only matures at four years of age. Barnavara recalls the case of Via Sistina, sold in 2023 and later turned into a multiple G1 winner in Australia. Everything in her profile indicates that she has not yet reached her ceiling. The other major strike was the sale of Porta Fortuna (Caravaggio), purchased for 4,200,000 guineas by MV Magnier (Coolmore). A winner of four G1s in two seasons, with victories in the Cheveley Park, Coronation, Falmouth, and Matron Stakes, Porta Fortuna retires immediately to stud. Magnier revealed that her first mating will be “most likely with Starspangledbanner,” an underestimated but extraordinarily effective stallion at producing juvenile champions such as Precise and Gstaad. The combination between Starspangledbanner and Caravaggio generates an inbreeding to Danehill 4x4, which has proven to enhance precocity without sacrificing biomechanical efficiency. For Coolmore, Porta Fortuna is a genetic anchor to reinforce the elite European speed line, at a time when the operation seeks to complement the dominant influence of Wootton Bassett and No Nay Never. Porta Fortuna (Caravaggio) consigned by the now international Taylor Made Sales. Another decisive move by Coolmore was the purchase of Tamfana (Soldier Hollow) for 2,600,000 guineas. The winner of the Sun Chariot Stakes (G1) will not continue racing: MV Magnier confirmed that she will be sent immediately to the farm and will be bred to Justify. The cross between the German toughness of Soldier Hollow and the North American power of the Triple Crown winner is highly appealing, especially because Justify has proven to transmit class, bone, and late-developing precocity, a pattern that fits perfectly with a mare who showed progression at four. Saqqara Sands (Oasis Dream), purchased for 2,100,000 guineas, will continue racing in the United States. Her agent, Stephen Hillen, explained that the mare has an ideal profile for racetracks with turns and that they consider an American G1 possible before her retirement. Meanwhile, Survie (Churchill), sold for 1,900,000 gns, does not yet have a defined destination: Magnier commented that they will decide whether she continues in training or enters stud, while her trainer and breeder, Nicolas Clement, expressed his desire to see her produce a top-class offspring. Among the finest purchases from a breeding perspective is Choisya (Night of Thunder), acquired by Anthony Stroud for 2,000,000 guineas. Stroud noted that the mare will remain in Europe and that they are interested in breeding her to Frankel, a mating that, if confirmed, would be one of the most coveted nicks of the 2026 season. Night of Thunder is one of the most consistent and undervalued stallions on the continent, and his daughters are becoming elite broodmares thanks to their physical balance and fertility. The presence of John Stewart and Resolute Bloodstock added an analytical dimension to the auction. Stewart purchased two extremely interesting mares from a genetic standpoint: Pintara (Pinatubo) for 1,800,000 gns and Understudy (Sea The Stars) for 525,000 gns. The former, undefeated in two starts and winner of the Montrose Stakes, combines the precocity of Pinatubo with the maternal depth of Altamira (Peintre Célèbre), a French family that produces stayers with exceptional aerobic efficiency. Stewart appears inclined to take her to the United States, where a selective campaign over a mile could further increase her residual value. Understudy, on the other hand, represents deep class: daughter of Sea The Stars and G2-placed at Royal Ascot, she is exactly the type of mare that amplifies quality in the second generation. Sea The Stars transmits elasticity, longevity, and a second acceleration, a group of attributes that Stewart seeks to install as a hallmark of his future production. Resolute’s strategy reveals a long-term plan aimed at creating a broodmare base that integrates European speed, classic stamina, and impeccable biomechanics. One of the most deliberate and technically coherent operations was that of Sam Sangster Bloodstock, which acquired a group of young mares with a unified objective: all will be sent to the new stallion Diego Velázquez, recently retired and now at The National Stud, Newmarket. Among their notable purchases were Miss Justice (Justify) for 750,000 gns, Galilei (Lemon Drop Kid) for 450,000 gns, Neverland (Quality Road × Marvellous) for 310,000 gns, Shelaka (Lope de Vega) for 180,000 gns, and Dervla (Bated Breath) for 110,000 gns. Diego Velázquez, bred and raced by Coolmore, was privately sold to Sangster and, after a brief stint in the United States, represents one of the new mile-oriented projects most strongly supported by European breeders. He is a son of Galileo with a clean outcross relative to Danehill and Scat Daddy, a modern and refined biotype perfectly compatible with speed-oriented mares. Sangster Bloodstock is building a carefully curated broodmare base for a decade of production: young, correct mares with solid pedigrees and, above all, maternal lines that allow a clear reading of what the stallion transmits. Sangster is executing a plan comparable to the one that fueled the early success of Kingman, Night of Thunder, or Showcasing: supplying the stallion with diverse but high-quality mares to maximize initial variability and quickly identify the best nicks. Japan also left a deep mark on this edition. Katsumi Yoshida, director of Northern Farm and one of the most influential personalities in global racing, invested 2,350,000 guineas in three carefully selected mares: Lady of Spain (Phoenix of Spain) for 900,000 gns, Rage Of Bamby (Saxon Warrior) for 750,000 gns, and Tax Implications (Mehmas) for 700,000 gns. Yoshida does not buy for today; he buys for two generations ahead. Lady of Spain brings classic European speed, Rage Of Bamby introduces the Japanese branch of Deep Impact via Saxon Warrior combined with a European base that enriches genetic variability, and Tax Implications adds the precocious explosiveness of Mehmas, a type of speed the Japanese program uses strategically to reinject quickness every two or three generations. The average of his purchases, 783,333 gns, underscores that Yoshida does not compete by volume, but by precision. Japan values, and pays heavily for— mares that can produce horses with wide stride, the ability to sustain strong fractions, and a competitive mindset, the three pillars that define the modern Japanese champion. Another key element of the 2025 market was the impact of the first mares in foal to Auguste Rodin, whose pregnancies sold between 110,000 and 180,000 gns. Angelica Tree, Bahama Girl, and Dolphin were among the most notable. This initial success confirms that the son of Deep Impact and Galileo will be a pillar for Coolmore and for breeders seeking to combine Japanese explosiveness with European classic structure. In-foal mares by emerging stallions always act as a market confidence thermometer, and Auguste Rodin exceeded expectations in his first appearance as sire of broodmares sold at auction. If anything became clear in this December Mare Sale, it is that the global racing world is in a moment of genetic transition: Europe is recharging with refined speed and hybrid lines; Japan continues collecting European outcrosses to feed its stamina stallions; the United States searches for mares capable of sustaining fast miles; and private operations such as Sangster’s design ten-year plans based on structural depth. The high values were not explained by immediate commercial return, but by the ability of these mares to reshape entire populations. The 2025 auction will be remembered for strong figures, intelligent purchases, and new genetic directions. But it will be remembered above all because a cycle closed: the ovation to John O’Kelly, lowering his gavel for the last time while Porta Fortuna left the ring.

The Kentucky Jockey Club Stakes (G2), run at Churchill Downs, once again fulfilled its historic role as one of the most important races for evaluating colts aiming for the Kentucky Derby trail. Although it is run after the Breeders’ Cup Juvenile, the race brings together very high-quality colts seeking to take a step forward toward the following spring. In 2025, the absolute standout was Further Ado (Gun Runner), a colt who had already attracted national attention after breaking his maiden at Keeneland by 20 lengths, a margin rarely seen in a $120,000 Maiden Special Weight. Further Ado (Gun Runner) crossing the wire at Churchill Downs for the first time. Further Ado had shown since his debut at Saratoga that he was an athlete beyond the ordinary. His overwhelming victory during the past Keeneland meet not only demonstrated his superiority but also his competitive maturity. Bred in Kentucky by John C. Oxley, trained by Brad Cox, one of the most efficient conditioners at the American elite level, and carrying 122 pounds under Irad Ortiz Jr., one of the jockeys with the highest win percentage in North America, and purchased for $550,000, Further Ado entered the Kentucky Jockey Club as the logical favorite. The race at Churchill Downs reaffirmed all his potential. Further Ado ran comfortably throughout, tracking a solid pace (the first half-mile in 46.76) before launching his decisive attack in the final stretch. His acceleration was immediate, powerful and unquestionable, dominating the race with authority and stopping the clock in 1:43.33 for the mile and one-sixteenth, equivalent to 1700 meters. This son of Gun Runner (Candy Ride) is a colt with classic presence and an ideal physique for middle distances; he made it clear that he will continue improving, and Cox’s team dreams of winning a Kentucky Derby on the track. After earning 10 points toward the Kentucky Derby, Brad Cox told Lineage Bloodstock that his next start will be “in the Rebel or the Risen Star,” confirming that the colt will take the Derby path at Fair Grounds in New Orleans, Louisiana, or at Oaklawn Park in Hot Springs, Arkansas. With a margin of 1 ¾ lengths, the runner-up was Universe (Global Campaign), who delivered an excellent performance and confirmed the strong opinion his trainer, Kenneth McPeek, has of him. Having been relegated early, running from the three-path, he began to advance around the far turn, swinging to an outside lane as wide as six paths. He finished strongly, drifting inward in the final strides and securing second place at the wire thanks to his solid late kick. Universe demonstrated strong tactical poise and a sustained finish, projecting himself as an attractive Derby Trail prospect, possibly targeting the Oaklawn Park circuit in Hot Springs, Arkansas, where Kenneth McPeek is based during the spring. His developing campaign and his pedigree by an emerging stallion like Global Campaign make him an interesting prospect for the coming months. Soldier N Diplomat (Army Mule) finished third after pressing outside the leader from the start, staying in contention through the stretch and briefly taking the lead turning for home. However, despite his bravery, he yielded when Further Ado overpowered him and then lost additional position in the final yards. Regarding his genetics, Further Ado carries an extremely commercial and proven pedigree. He is a son of Gun Runner, one of the most reliable and sought-after stallions in the Northern Hemisphere, known for transmitting tactical speed, stamina, and professionalism. His dam, Sky Dreamer (Sky Mesa), added quality and a strong aerobic engine, being a consistent producer in the marketplace. Sky Dreamer also produced the miler Kimbear (Temple City), a G2 winner in Dubai. In terms of value, Further Ado went through the select sales rings, having been a high-priced yearling due to his physical type and highly desirable pedigree. From family {19-b}, his third dam is Beautiful Pleasure (Maudlin), the multiple Grade 1-winning champion who won top-level races at ages 2, 4 and 5. This family also includes the Grade 1 winner Dream Dancing (Tapit). Irad Ortiz Jr. greeting Brad Cox after winning the Kentucky Jockey Club (G2). Further Ado’s victory adds to an exceptional year for Spendthrift Farm, which is experiencing one of the strongest juvenile generations in its recent history. The operation led by Eric Gustavson, with Ned Toffey at the managerial helm, has several two-year-olds from the 2023 crop who have already won graded stakes and are aiming firmly at the first weekend of May as primary targets. Among them stands out Ted Noffey (Into Mischief), the best colt seen so far from the generation, a Grade 1 winner in three different states and the absolute leader among males. Also noteworthy is Tommy Jo (Into Mischief), a multiple Grade 1 winner at Saratoga and Keeneland, dominating the filly division. In addition, Brave Deb (Authentic) established herself as a Grade 3 winner in California, reinforcing the quality of the farm’s lineup. With this race, Further Ado has earned $320,000 in prize money, after winning a $120,000 Maiden Special Weight and this Grade 2 stakes, which contributed $242,470 to the winner. He projects to be a major colt for the upcoming semester, where his potential will be further tested, but he is undoubtedly expected to become part of Spendthrift’s stallion roster in Lexington, Kentucky. Gun Runner (Candy Ride) has emerged as an interesting candidate as a broodmare sire or sire of sires. In recent years, several sons of the chestnut have been retired to stand at top American stud farms, the most notable examples being: Sierra Leone (Ashford, Versailles, Kentucky), Locked (Gainesway, Paris, Kentucky), Taiba (Spendthrift, Lexington, Kentucky), Cyberknife (Spendthrift, Lexington, Kentucky), Gunite (Ashford, Versailles, Kentucky), Gun Pilot (Three Chimneys, Versailles, Kentucky), Disarm (Hidden Lake, Stillwater, New York), among others. The 2025 Kentucky Jockey Club not only confirmed Further Ado as a colt with enormous classic potential, but also reaffirmed Spendthrift Farm’s supremacy in producing early talent of international quality. With a roster of juveniles already dominating on multiple fronts, the operation is poised to enter 2026 with several strong contenders for both the Kentucky Oaks and the Kentucky Derby. Further Ado leads that group as one of the most solid and exciting prospects of the season.

After winning the Japan Cup (G1), the most important race on the Eastern racing calendar, Calandagan (Gleneagles), the Aga Khan’s star runner, remains the highest-rated horse in the world (130) and validates the recent “Horse of the Year” title awarded by Cartier. Calandagan (Gleneagles) winning the Japan Cup (G1). The Japan Cup, held annually at Tokyo Racecourse over 2400 meters, equivalent to a mile and a half or 12 furlongs, and awarding more than 300 million yen to the winner (approximately U$D 1,920,000), is Japan’s most prestigious international race and one of the richest in the world. Created in 1981 to attract the best horses on the planet, it quickly became a benchmark event comparable to the Breeders’ Cup Turf in terms of purse and international standing. However, since 2005, when the British runner Alkaased (Kingmambo) defeated Heart’s Cry (Sunday Silence), no foreign horse had managed to win the race, nor even finish on the podium, reflecting the spectacular progress of Japanese breeding. The 2025 edition broke that 20-year streak with the victory of the Irish-bred gelding Calandagan (Gleneagles), a triumph that underscores the strength of the Aga Khan’s operation. The 2025 running, held before a massive crowd at Tokyo Racecourse, delivered a thrilling spectacle. Masquerade Ball (Duramente), a prominent performer in last year’s Japanese Triple Crown, set the pace over firm going while Calandagan (Gleneagles) tracked from a stalking, mid-pack position. The stretch run produced a memorable duel: the European contender, ridden by Mickael Barzalona, launched a long sustained rally on the outside and caught Masquerade Ball (Duramente) 100 meters from the wire. The pair ran head-and-head until the visitor found the slightest advantage in the final strides to prevail by half a head, stopping the clock in 2:20.3. Local favorite Danon Decile (Epiphaneia) finished two and a half lengths back in third, while Croix du Nord (Kitasan Black), another major Japanese runner and winner of the Japanese Derby, finished fourth. The second- and third-place finishers were both bred by Shadai Farm in Chitose, Hokkaido, Japan. Calandagan (Gleneagles) is an unusual profile for the top level: a four-year-old gelding who began his career in France. A son of Gleneagles (Galileo) out of Calayana (Sinndar), he has shown steady improvement and uncommon versatility. Unable to compete in the Prix de l’Arc de Triomphe due to being a gelding, he nonetheless won multiple Group 1 races throughout 2025, the Grand Prix de Saint-Cloud, King George VI & Queen Elizabeth Stakes, and Champion Stakes, establishing himself as the world’s number one horse even before traveling to Japan. His record now stands at 14 starts with 8 wins, 5 seconds, and 1 third, a remarkable display of consistency. As a gelding, he has no breeding future, meaning his value lies entirely in his performance and the prestige he brings to his breeder, The Aga Khan Studs. Calandagan’s female line is one of the strongest aspects of his profile. His dam, Calayana (Sinndar), was third in the Prix Minerve (G3) and belongs to the family of Clodora (Linamix), a foundation French broodmare who produced the classic champion Clodovil (Danehill) and the classic-placed Colombian (Azamour). His second dam, Clariyn (Acclamation), is a half-sister to Canndal (Medicean), runner-up in the Belmont Derby Invitational (G1) on turf. Four of his last five dams are black-type winners, a lineage that explains the blend of class and stamina the gelding shows. The influence of Sinndar (Grand Lodge) through Calayana contributes depth and temperament, while Gleneagles, through his dam You’resothrilling (Storm Cat), adds a highly efficient aerobic engine. The tight finish between Calandagan (Gleneagles) and Masquerade Ball (Duramente). The Aga Khan Studs, breeder of Calandagan (Gleneagles), is one of the pillars of global Thoroughbred breeding. Founded in the early 20th century, the operation of Aga Khan IV and his family has produced countless champions such as Shergar, Azamour, Sinndar, Daryaba, Dalakhani, Zarkava, Mahmoud, Valyra, and Sea The Stars, among others—combining European lines with rigorous selection. Their philosophy of “breeding to race” means maintaining a core band of high-quality broodmares and crossing them with carefully chosen stallions to achieve a balance of speed and stamina. Calandagan fits perfectly into this tradition; bred by the French branch of the stud, he was kept to race for the Aga Khan after showing early promise as a youngster. For experienced French trainer Francis-Henri Graffard, a graduate of the Godolphin Flying Start program in 2005, this victory marked his first Japan Cup. Just like his compatriot and colleague Robert Collet, who won the same race in 1987 with Le Glorieux (Cure The Blues), both achieved the feat with a French jockey, Mickael Barzalona in 2025 and Alain Lequeux in 1987. Calandagan’s victory in the Japan Cup carries implications beyond statistics. From a sporting perspective, it confirms that Europe’s best runners can still succeed in Japan and may encourage more foreign owners to target the race again, as was common in the 1980s and 1990s. From a genetic standpoint—despite his lack of breeding future—his triumph reinforces the value of crossing Galileo lines with German-Irish stamina families like Clodora’s, further elevating the prestige of his female line. It also bolsters the perception of Gleneagles as a sire capable of producing top-class stayers, whereas he had previously been known mainly for milers. For Japanese racing, the defeat does not diminish the strength of their local program: after two decades of dominance in which no foreigner had lifted the Cup, Calandagan’s arrival places their current level in context and suggests that continued international genetic exchange remains essential to maintaining global competitiveness.

The chestnut filly Ayra Stark (Cosmic Trigger) once again elevated the prestige of Argentine turf by claiming a commanding victory in a $130,000 allowance race at Keeneland, in Lexington, Kentucky, USA. Her 4¼-length triumph over Poppy The Princess (Cairo Prince) not only confirmed her complete adaptation to American turf courses, but also extended the brilliant legacy of her trainer Ignacio Correas IV, who marked his 301st U.S. win with this race, more than two decades after settling in the country. Ayra Stark’s story is one of a filly who, without coming from a globally renowned pedigree, crossed borders and surfaces to succeed. In her native Argentina, the daughter of local stallion Cosmic Trigger, a sire of notable domestic success, won 4 out of 7 starts, all on the dirt track of Hipódromo Argentino de Palermo. That includes a dominant six-length win in the prestigious Ramón Biaus (G2), defeating the top fillies on dirt. From early on, her competitive spirit was evident: she won on debut, finished second in a G1 in just her third start, and ran fourth in two G2 races during Argentina’s graded stakes circuit before closing that phase with back-to-back allowance wins in Palermo. She was, without question, a filly with international projection. Ayra Stark (Cosmic Trigger) wins an allowance at Keeneland. After her Group 2 win in Argentina, Ayra Stark (Cosmic Trigger) was sold to Haymarket Farm and exported to the United States. There, under the patient care of Ignacio Correas IV, the chestnut filly adapted brilliantly. Correas discovered that American turf suited her perfectly, bringing out a more agile version of the filly—one whose closing kick is ideally suited for the more tactical pace scenarios typical of Northern Hemisphere racing. At Keeneland, facing a field of six other 3- and 4-year-old fillies, Ayra Stark once again proved herself to be a serious, professional racehorse. This win carried special weight, as it came during the final stretch of Ignacio Correas IV’s distinguished training career in North America. Since moving to the U.S. in 2001 and launching his own operation — IC Racing — “Nacho” Correas has become a respected and admired figure, particularly for his outstanding work with fillies. It’s no coincidence that the majority of his stars have been female: names like Dona Bruja (Storm Embrujado), Blue Prize (Pure Prize), Didia (Orpen), Le Da Vida (Gemologist), Nanda Dea (Fortify), Nanabush (Il Campione), and now Ayra Stark (Cosmic Trigger) form a constellation that reflects both his training philosophy and long-term vision. In Argentina, Correas was always held in high regard, especially by top breeding farms. He trained for leading studs like El Turf, Abolengo, and his own family’s operation, Haras Las Ortigas, all known for their focus on developing high-quality fillies for future breeding. His methodical approach and long-term planning made him the preferred choice for breeders looking to build strong careers for their fillies before sending them to the breeding shed. With Ayra Stark’s win, Correas begins his farewell to the sport. News of his departure has spread quickly across the American racing world. After the Breeders’ Cup, he plans to return to his native Argentina, where his family, his partner Marina, and their dogs, who already began the journey back, await him. His return will close a career that spanned more than two decades and helped elevate the global standing of Argentine turf in the most competitive racing circuit in the world. In recent years, Ignacio Correas became something of an unofficial ambassador for South American talent. His method has followed a near-mathematical precision: import fillies with strong Southern Hemisphere campaigns, give them time to acclimate, and then gradually expose them to the competitive demands of North American racing. Time and again, this formula has proven successful, Ayra Stark being the latest example. Ignacio Correas IV after winning the Spinster Stakes (G1) with Blue Prize (Pure Prize) in 2018 First came Blue Prize (Pure Prize), the unforgettable Argentine mare who won the 2019 Breeders’ Cup Distaff (G1). Then followed Didia (Orpen), who became a multiple graded stakes winner, and later Le Da Vida (Gemologist), Nanda Dea (Fortify), Nanabush (Il Campione), and now Ayra Stark (Cosmic Trigger), all imported from the Southern Hemisphere with accomplished campaigns in their home countries, mainly Argentina and one from Chile. The pattern is clear, South American mares, with stamina, and a genetically solid foundation, enabling them to perform at a high level on the demanding North American circuits once they adapt to the rhythm and surfaces. Correas has known how to translate that genetic potential into results. His meticulous approach to training, emphasizing recovery, adaptation, and patience, contrasts with the speed-driven mindset of many U.S. programs. Ayra Stark (Cosmic Trigger) emerged as the epitome of that philosophy: calm in waiting, decisive when attacking, and physically complete, responding effortlessly to the smooth handling of José Luis Ortiz. The race, contested over a mile and a half (2400 meters) on firm turf, brought together a field of seven fillies with solid regional form. From the break, Statement Made (Always Dreaming) took the lead, setting even fractions of 25 seconds every two furlongs (800 meters), while Ayra Stark (Cosmic Trigger), piloted by José Luis Ortiz, tracked in second, about two lengths off the pace. Behind them, Poppy The Princess (Cairo Prince) raced patiently in third. In the final turn, Ortiz began to nudge the chestnut forward, and she responded with a powerful stride. As Statement Made tried to hold her ground, Ayra Stark drew even effortlessly and, turning into the stretch, took command decisively. In the final 200 meters, Ortiz urged her only once with his left hand, the margin widened to 4¼ lengths, and he guided her comfortably to the wire. Poppy The Princess (Cairo Prince) finished a good second. The final time of 2:31.23 was solid for the class, confirming that Ayra Stark not only won, she dominated. The winner’s sire, Cosmic Trigger, is a genetic jewel of Argentine turf. A son of Lizard Island (by Danehill Dancer), he is a maternal half-brother to the legendary Candy Ride (Ride the Rails), one of the most influential stallions ever exported from the Southern Hemisphere. Like Candy Ride, Cosmic Trigger was bred and raised at the historic Haras Abolengo, owned by the Menditeguy family, where both shared the same dam — the great Candy Girl (Candy Stripes). Cosmic Trigger’s career was brief but brilliant, unbeaten in his only two starts over a mile at Palermo. A premature injury forced his retirement, cutting short what could have been an exceptional racing career, but his stud potential quickly became evident. Since 2016, he has stood at Haras Abolengo, where his famed brother was also born, and his results speak volumes. Out of 287 runners, 175 have won, an impressive 61% strike rate. Moreover, he has already produced six G1 winners, a remarkable figure for a domestically based stallion, placing him among the elite sires of South America. The nick between Cosmic Trigger and mares by Exchange Rate (Danzig) has proven especially successful: out of six foals, five are winners, including Ayra Stark, who reached graded-stakes level. The cross tends to produce fast, long-striding, and competitive offspring, traits that are clearly expressed in Correas’ mare. Ayra Stark’s female family also helps explain her quality. Her third dam, Dama Imperial (Mariache), was a top-class sprinter who carried the silks of Haras Vacación, winning five races, including the Lotería Nacional (G3) in 1994, a performance that secured her place among Argentina’s elite mares and later as a valuable broodmare. From that line descended Data (Roy), later exported to Japan, and through several generations emerged Ayra Stark (Cosmic Trigger), reaffirming the strength of her maternal line. That family, carefully cultivated by Haras Vacación, carries in its DNA the depth of Argentine breeding through Mariache (Dancing Moss), a line that the local breeding industry has skillfully preserved in its crosses with North American bloodlines. It is no coincidence that daughters of Cosmic Trigger out of such mares stand out for their consistency and Ayra Stark is, so far, the most illustrious representative of a lineage that promises to extend even further in the coming years. The cross between Cosmic Trigger and Exchange Rate mares has become a model worth studying. Statistically, among six foals registered from this combination, five have won, and Ayra Stark is the only graded winner. The success of this nick lies in genetic compatibility and the reinforcement of Danzig (Northern Dancer) 3Dx5S, which contributes stamina. In Ayra Stark, this manifests clearly: she is a long-bodied, well-balanced filly capable of handling different surfaces while sustaining her drive through the final stages, a crucial trait in demanding North American races. Keeneland, steeped in history, remains one of the great proving grounds of American racing, a place where many names are forged before rising to prominence on the East Coast or in the Breeders’ Cup circuit. The $130,000 purse for an allowance of this class is far from trivial; it attracts fillies in transition between lower-level divisions and stakes company, ensuring a strong field. Ayra Stark’s next target is likely a Grade 2 or Grade 3 race, though now under a new trainer’s care. The victory came under the ride of José Luis Ortiz, one of the most consistent and tactically astute jockeys in the U.S. Familiar with the South American style of racing, Ortiz guided Ayra Stark with the perfect balance of patience and determination. The result was a flawless performance, leaving the door open for the filly to soon appear in higher-level stakes, perhaps before the year’s end. Ayra Stark’s achievement weaves together two intertwined narratives, Ignacio Correas’ farewell and the international projection of Cosmic Trigger’s bloodline. Both symbolize the same principle: the capacity of Argentine racing to produce world-class quality. Like other great South American trainers, Correas mastered the art of interpreting each horse’s rhythm and translating it into results within the highly competitive North American system. His retirement, set for November 2025, after the Breeders’ Cup, marks the end of an era during which the Argentine flag flew proudly across the world’s greatest racetracks. For her part, Ayra Stark (Cosmic Trigger) embodies the promise of continuity, a filly bred and raised in Argentina, by a domestic stallion, descended from a consolidated family, and capable of winning decisively at Keeneland, the very heart of the Bluegrass. Her victory is more than just a statistic; it is a tribute to the collaborative effort of breeders, trainers, and professionals who, from the Southern Hemisphere, continue to nourish the pulse of a global industry. Ayra Stark’s triumph at Keeneland is far more than a line in the official race chart. It stands as a testament to a well-constructed campaign, sound genetic vision, and meticulous craftsmanship. It is also another link in the chain connecting Palermo to Keeneland, Argentine breeding farms to Kentucky pastures, and the passion of Southern breeders to the professionals who dare to cross borders.

The 41st Gran Premio Latinoamericano (G1) over 2000 metres on turf distributed a purse of US $300,000. It was contested on Saturday, 18 October at Hipódromo da Gávea in Rio de Janeiro, Brazil, under sustained rain, high humidity and a track that went from soft to heavy as the day progressed. This edition was decided in favour of Obataye (Courtier), a 5‑year‑old, ridden by João Moreira and trained by Antonio Oldoni for the colours of Haras Rio Iguassu, in a time of 1:58.59. The race kept the tactical line historically characteristic of the Latinoamericano, with a strong early pace from the start and reward for those who saved ground by the rail on a battered turf. The result extended Brazil’s number of wins in the event’s historical statistics to 12, the most among participating countries. The initial phase was held by Seiquevouteamar (Verrazano), who assumed the lead with demanding fractions and kept at bay immediate challengers such as Gracie (Drosselmeyer) and Vundu (Suggestive Boy). Obataye (Courtier) was handled by Moreira in a second group, hugging the inner rail, between seventh and fifth depending on the segment, sheltered from the loose sand and the more heavily worn areas of the turf. On the backstretch, the leader found sustained pressure, while Vundu (Suggestive Boy) attempted a challenge, while Gracie (Drosselmeyer) and My Way (Mendelssohn) remained in contention. Obataye (Courtier) continued gaining positions on the inside without additional effort, awaiting the decisive point. Obataye (Courtier) winning the Latinoamericano (G1). Around the turn, Seiquevouteamar (Verrazano) attempted to escape, Vundu (Suggestive Boy) began to fade, and Obataye (Courtier) moved efficiently into second lane entering the straight, then switched to middle lanes seeking better traction for the finish. At 150 metres from the post, Obataye (Courtier) caught and overtook the leader decisively. From the rear, Medjool (Constitution) advanced to capture second place in the final metres, and a tie for third ensued between Seiquevouteamar (Verrazano) and My Way (Mendelssohn). The favourite Vundu (Suggestive Boy) did not find an answer after his bid on the turn and finished 11th, well behind, but kept sound and ready to now target the Pellegrini 2025. The tactical reading is clear: savings of metres along the rail, shifting to slightly firmer lanes in the final 300 m and a sustained change of pace were decisive in the winner’s performance. The victory of Obataye (Courtier) is part of a high‐level selective sequence, as he had just won the Matías Machline (G1) over 2000 m on the turf at Cidade Jardim, São Paulo, on 2 August, and in 2024 had captured the Grande Prêmio Brasil (G1). With this Latinoamericano, his campaign stands at 17 starts: 9‑2‑2, including three G1 wins and six graded victories. The horse was bred by Haras Palmerini, and in addition to his successes at Gávea and Cidade Jardim he has added group wins at Tarumã, consolidating a profile of efficacy over 2000‑2400 m on different tracks and under varying footing conditions. In economic and wagering terms, the World Pool mutuel report reflected the market’s perception: Obataye (Courtier) paid $15.00 to win, $7.60 to place and $4.80 to show; Medjool (Constitution) returned $13.60 and $9.40; for the show payout: Seiquevouteamar (Verrazano) at $4.80 and My Way (Mendelssohn) at $5.60. These values confirm that the winner was not the most backed in the betting, whereas the favourite Vundu (Suggestive Boy) finished outside the first three, altering the payout structure in the trifecta and superfecta. At the local Gávea sport pool, Obataye paid $5.30 to win — three times less than the World Pool payout. The sectional pace line, with the lead held by Seiquevouteamar (Verrazano), pressure from Vundu (Suggestive Boy), expectation around My Way (Mendelssohn) and the advancing inside move by Obataye (Courtier), correlates with the differential response to the state of the footing. On wet turf, with internal lanes initially less worn, Moreira’s strategy of keeping his mount close to the rail and then shifting to the middle lanes at the critical point maximised the effective metres covered/velocity ratio, reducing exposure to slips and avoiding weaker footing areas. This operational choice explains the effective surge in the final 300 m and the margin observed at the finish. Luis Felipe Pelanda and his father Paulo Pelanda with their winner and João Moreira. João Moreira’s ride was a high-impact factor. Obataye broke cleanly, and Moreira positioned him without needing to fight for position, calmly controlled the tempo of the field, assessed the condition of the course, and timed his attack perfectly when guiding the horse off the rail into less waterlogged lanes. The jockey’s post-race statement—“Nothing could be more special for me than winning this race in front of the Gávea grandstand, for the people of Rio de Janeiro”—was consistent with the emotional context of a local victory in a historic Southern Hemisphere event and with the objective fact that this was one of the few major races missing from his international résumé. From the training perspective, Antonio Oldoni confirmed with this result a work philosophy based on stamina development, adaptability to different racetracks, and race-specific tactical strategies. Obataye (Courtier) has shown consistency at both Gávea and Cidade Jardim over classic distances, executing performances that blend cruising pace with sustained finishes. The campaign management, which targeted the most prestigious races in the Brazilian calendar, is fully validated by the G1 sequence achieved in the most recent competitive cycle. On the genetic front, Obataye (Courtier) presents several points of interest. He is one of four G1 winners sired by Courtier (Pioneerof the Nile), out of Soothing Touch (Touch Gold), a leading freshman sire in Brazil who has seven racing-age crops and a group of 19 black-type winners—approximately 7% of his starters—including 10 graded winners. On the dam’s side, Surfi’N USA (Crimson Tide) brings a highly efficient anchor, as she belongs to the {1-x} family of La Troienne (Teddy). The winner’s pedigree features a 4x4 duplication of Unbridled (through Empire Maker on Courtier’s sire line and Unbridled’s Song on the dam’s side) and a 5x5 duplication of Mr. Prospector, through third dams that are both daughters of Mr. Prospector: Coup de Génie on the sire side, from the prolific {2-d} family, and Hidden Garden on the dam side. These equivalent and inverted crossing patterns between Northern Dancer and Mr. Prospector/Fappiano translate functionally into a balance between speed and stamina, a conformation suited for classic distances, and strong traction on soft surfaces—traits Obataye (Courtier) consistently displays. Courtier (Pioneerof the Nile) was bred in Kentucky by Juddmonte Farms, one of the world’s most prestigious breeding operations, and he hails from one of the most influential female lines in Thoroughbred history: the {2-d} family. This line descends directly from Almahmoud (Mahmoud), the foundation mare who gave rise to a dynasty that includes Natalma (Native Dancer), the dam of Northern Dancer (Nearctic)—placing Courtier within the most significant genetic lineage of the 20th century. His third dam, Coup de Génie, was an exceptional G1 winner and full sister to Machiavellian (Mr. Prospector), another pillar of modern Thoroughbred breeding. In other words, Courtier is supported by a remarkably successful maternal family, a determining factor in the racing breed, where female-line consistency is key to transmitting quality. Sired by Pioneerof the Nile—best known as the sire of American Pharoah—and out of Soothing Touch (by Touch Gold), Courtier combines North American power with a classic, well-balanced genetic structure. Despite his elite origin, his arrival in Brazil did not initially generate major expectations, and during his first seasons at stud, he wasn’t viewed as a top-tier stallion by local breeders. However, results proved otherwise: Courtier has sired a series of outstanding runners, ranging from sprinters to long-distance horses with international potential. Among them are Dashing Court, a precocious colt who won the Turfe Gaúcho and G1 races over 1500 and 1600 meters at Cidade Jardim; Fast Jet Court, champion among the fillies of her generation with G1 victories in the João Cecilio Ferraz and Barão de Piracicaba; Ethereum, fifth in the Gran Premio Latinoamericano and named 2024/2025 “Horse of the Year”; and Obataye (Courtier) himself, winner of both the Grande Prêmio Brasil (G1) and the Gran Premio Latinoamericano (G1). Also among his standout progeny is the sprinter Rihanna do Iguassú, who runs under the same silks, further consolidating Courtier’s profile as a versatile and consistently effective sire. Overall, his offspring have shown that, although initially underrated, Courtier (Pioneerof the Nile) has become a cornerstone of modern Brazilian breeding—capable of transmitting class, stamina, and physical balance, backed by a genetic heritage that traces directly to the roots of Thoroughbred excellence. At the national level, this was Brazil’s 12th win in the Gran Premio Latinoamericano, reinforcing its status as the most successful nation in the event. At the individual level, Obataye secured his third G1 win, adding to the GP Brasil (G1) and GP Matías Machline (G1), consolidating his status as a leading reference in turf racing over 2000–2400 meters in South America. In terms of connections, it represents a high-profile triumph for Haras Rio Iguassu and confirms Haras Palmerini’s role as a top-tier breeder on the continent’s elite calendar. The international context of the Latinoamericano remains active: since 2016, the winners have received invitations to Ascot (UK), with the possibility of entering a compatible G1 or the Hardwicke Stakes (G2) at the Royal Ascot meeting, subject to planning, ratings, and logistics. On the regional rotation, the scheduled host for 2026 is Monterrico (Peru), maintaining the event’s tradition of rotating among South America’s top racing venues. Operationally, Obataye’s (Courtier) recovery following a demanding effort over heavy turf and the planning of future targets—including a potential international campaign—are short- and medium-term decisions for his team to evaluate. The next major event on the South American racing calendar will be the Gran Premio Carlos Pellegrini (G1), scheduled for Saturday, December 13, 2025, at Hipódromo de San Isidro, Argentina. This race, the region’s most prestigious turf contest and one of the oldest on the continent, will once again bring together the top representatives from each country to compete over 2400 meters on grass, with a significant purse and a world-class competitive field. Next stop: Carlos Pellegrini, San Isidro, Buenos Aires, Argentina Among the confirmed names, or those on the verge of confirmation, stand out Obataye (Courtier) himself and his runner-up Medjool (Constitution), whose connections have already expressed their intent to travel from Brazil and Chile, respectively, to compete on the great international day hosted by the Hipódromo de San Isidro. In Argentina, they will be welcomed by local representative Vundu (Suggestive Boy), who will seek redemption after a discreet performance in Rio de Janeiro, reappearing on his preferred surface and distance. From Peru, Stud Jet Set is preparing a multiple-horse delegation with the intention of not only participating in the Pellegrini but also in the other Group 1 events that make up the traditional International Day at San Isidro. Uruguay’s main card will be Master Of Puppets (Put It Back), who must first pass a test in the local Carlos Pellegrini (Listed) on Montevideo’s turf to confirm his participation in Argentina’s top event. The Jockey Club Argentino expects a technically high-level edition with broad continental representation, including international figures such as star jockey João Moreira, who will be one of the highlights of the day. Within this context, the 2025 Carlos Pellegrini is shaping up as a race of deep sporting significance, reaffirming its status as the Grand Prix of South America and the culminating event of the turf season in the Southern Hemisphere. The statistical summary of the day is rounded out by the final order of finish and the performances of some notable contenders. Medjool (Constitution) validated his strong late kick under adverse conditions to secure second place; Seiquevouteamar (Verrazano), a brave front-runner in a strong pace over a heavy track, managed to hold third place in a dead heat with My Way (Mendelssohn); Ethereum (Courtier) completed the field, advancing without threatening the leaders. Vundu (Suggestive Boy), the overwhelming favorite, confirmed that the energy expended on the turn cost him dearly in the home stretch. In summary, the precise tactical execution by the Obataye/Moreira duo, marked by ground-saving maneuvers, smart lane selection, and impeccable timing, was instrumental in securing the win. Second, the genetic and physical aptitude of the winner, ideally suited for classic distances and soft turf, aligns with his inbreeding profile and reflects the proven qualities of his sire, Courtier (Pioneerof the Nile). Third, Brazil’s continued dominance in the race’s historical record was reaffirmed with another commanding performance.

The Prix de l’Arc de Triomphe – known simply as the Arc in racing circles – is the pinnacle of the European racing season. Since 1920, when it was inaugurated at Longchamp in tribute to French soldiers who fought in World War I, this 2400-meter contest has been held every first Sunday of October on Parisian turf. Its prestige is such that many breeders consider it the “race of champions,” where victory exponentially increases the value of a stallion or a broodmare. Numerous legends have etched their names into Arc history: Sea Bird, Alleged, Dancing Brave, Zarkava, and Enable, among others. The 2025 Arc carried additional anticipation: not only was it the 104th edition, but it also followed the recent passing of Aga Khan IV, whose iconic green and red silks were seeking a historic eighth win. Despite unstable weather, Longchamp was packed. The morning dawned humid with intermittent showers; during the undercard races, sunlight filtered through low clouds, but rain showers persisted, leading the course to be rated “soft.” A specialized report warned that the ground was soft and that more rain was expected on Friday and Saturday, though Sunday might dry out. This mix of sun and rain made for a tactically complex afternoon, with deep but not extreme turf. As a result, horses fanned out to the middle of the track in the stretch. Daryz (Sea The Stars) and Minnie Hauk (Frankel) in the Arc definiton. The 2025 edition assembled a field of 18 runners, headed by the undefeated Minnie Hauk (Frankel), who had swept the 1000 Guineas, Epsom Oaks, and Irish Oaks. Japanese contenders Byzantine Dream and Croix du Nord were also among the favorites. The script partially held: Coolmore’s filly tracked the early leaders Hotazhell (Too Darn Hot) and Croix du Nord (Kitasan Black). Midway through the race, Minnie Hauk made her move and took the lead entering the final straight. It seemed she might emulate Enable by defeating males as a three-year-old filly. However, stalking her throughout was Daryz (Sea The Stars). The French colt, third choice in the betting at 12/1, traveled smoothly near the pace, biding his time while Minnie Hauk showed her cards. In the final 200 meters, jockey Mickaël Barzalona angled him wide and asked for acceleration. Daryz responded with a powerful surge, catching the favorite in the final fifty meters and edging past her by just a head, stopping the clock at 2:29.17. Behind them, Sosie (Siyouni) finished third, over five lengths back. The Japanese hopes faded: Byzantine Dream came in fifth, while Croix du Nord weakened sharply to finish 14th. The result reaffirmed the Arc’s status as a race where tactics and the ability to quicken on soft ground are decisive. The man behind the green and red silks, Karim al-Husaynī, Aga Khan IV, passed away on February 4, 2025, at the age of 88. He was the spiritual leader of the Ismaili Muslims and one of the most influential breeders of the 20th and 21st centuries. After succeeding his grandfather as Imam in 1957, he seriously considered leaving the family’s racing tradition, but after winning the French owners’ championship in his first season, he was “hooked” on the turf. His breeding philosophy combined passion and science. In a memorable interview, he compared Thoroughbred breeding to “a game of chess against nature”: every mating decision is a strategic move whose results are revealed years later on the track. He also cautioned newcomers that learning is a long journey and each breeder must define their own criteria, grounded in both genetics and economics. Over six decades, the Aga Khan built a network of stud farms in Ireland and France with about 200 broodmares. He did not hesitate to strengthen his bloodstock by acquiring the herds of legendary breeders: in 1977, he bought the mares of François Dupré, and in 1978, those of Marcel Boussac, including Darazina, ancestress of the family that would produce Darykana (Selkirk) and eventually Daryz. His program produced Classic winners like Shergar, Sinndar, Dalakhani, Zarkava, and more recently, the filly Ezeliya (Oaks 2024). With Daryz’s victory, the green and red silks claimed their eighth Arc de Triomphe. The list begins with Migoli in 1948 and Saint Crespin III in 1959 (under Aga Khan III and his son Prince Aly Khan), followed by Akiyda (1982), Sinndar (2000), Dalakhani (2003), Zarkava (2008), and now Daryz in 2025. This win holds symbolic weight: it is the first since the death of Aga Khan IV and affirms the continuity of his vision. It also breaks the tie with Juddmonte (Khalid Abdullah), both previously with seven Arc victories, placing the Aga Khan operation at the top of the all-time Arc leaderboard. Daryz (Sea The Stars) belongs to an “Arc dynasty.” His damsire is Cape Cross (Green Desert), but most notably, Sea The Stars is a son of Urban Sea (Miswaki), the 1993 Arc winner, who herself produced Daryz’s sire. These three consecutive generations—Urban Sea, Sea The Stars, and Daryz—have each won the Arc de Triomphe. Sea The Stars, European Horse of the Year in 2009, is a top sire with over 140 stakes winners, including Stradivarius and Baaeed. However, Daryz is his first Arc-winning offspring. Daryz’s success is also rooted in his female line. His dam Daryakana (Selkirk) was an exceptional filly: undefeated at three, she won the Prix de Royallieu (G2), and against older males, captured the 2009 Hong Kong Vase (G1), storming from the rear to defeat Spanish Moon by half a length. According to Equineline, she retired with 5 wins in 8 starts and earnings of $1,372,923. At stud, she has produced seven winners, including Dariyan (Shamardal), winner of the Prix Ganay (G1), Devamani (Dubawi), a G2 winner in the U.S., and now Daryz. The second dam, Daryaba (Night Shift), was also a champion, having won the Prix de Diane (G1) and Prix Vermeille (G1) in 1999, two of France’s top races. Daryaba produced other group winners like Darmasar and Daraybi. This family branch, cataloged as family 1-e, entered the Aga Khan Studs when he acquired Boussac’s mares, including Darazina. From this line, the Aga Khan has bred standouts like Darshaan (sire of Dalakhani) and Dariyan, showcasing the family’s enduring quality. Overall, Daryz’s pedigree blends the stamina and class of Sea The Stars, the finishing power of Daryakana, and the classic depth of Daryaba—an embodiment of the Aga Khan’s philosophy: merging strong sire lines with high-performance female families. The Irish filly Minnie Hauk (Frankel), trained by Aidan O’Brien for Coolmore and Juddmonte, entered the Arc undefeated after victories in the Epsom Oaks, Irish Oaks, and Yorkshire Oaks, emulating the path of the legendary Enable. At Longchamp, she seized the lead in the stretch but was caught late by Daryz, holding second place. With five wins in six starts, she is the standout three-year-old filly in Europe. Minnie Hauk is by Frankel (Galileo), the unbeaten champion who has become a leading sire in France and Ireland. Her dam is Multilingual (Dansili), a winless mare but full sister to Remote (Dansili) and half-sister to Kingman (Invincible Spirit). Multilingual has produced five runners, including Minnie Hauk and Tilsit (First Defence), winner of the Summer Mile Stakes (G2). Her second dam, Zenda (Zamindar), adds even more brilliance: she won the Poule d’Essai des Pouliches (G1) in 2002 and was second in Keeneland’s Queen Elizabeth II Challenge Cup (G1). Zenda is a half-sister to top sprinter Oasis Dream and dam of the sensational Kingman, an undefeated miler who captured the Irish 2000 Guineas and Sussex Stakes. This pedigree belongs to Juddmonte’s celebrated family 16. Its root traces back to the mare Bahamian (Mill Reef), a modest Oaks Trial winner at Lingfield, purchased by Prince Khalid Abdullah for 310,000 guineas in 1986. Bahamian, by Mill Reef out of Sorbus (Busted), produced, among others, multiple G1 winner Beat Hollow (Sadler’s Wells). Zenda and Minnie Hauk descend from this line, reflecting Juddmonte’s foresight in acquiring a seemingly modest mare with immense potential. Thus, Minnie Hauk embodies the blood of three Juddmonte pillars—Frankel, Dansili, and Zamindar—reinforced by the Bahamian family. Her exceptional finishing kick and domination over fillies explain her bold challenge against colts in the Arc. Daryz’s victory earned him an automatic berth in the Breeders’ Cup Turf (G1) at Del Mar, as the Arc is part of the Win and You’re In series. Trainer Francis Graffard will consider whether to keep him in training at four. Should he continue, Daryz may aim for the elusive Arc–Turf double, a rare feat for Europeans due to the travel and short turnaround. Daryz (Sea The Stars) and Mikael Barzalona at the Longchamp post. Minnie Hauk, despite the loss, maintained her reputation as the best filly of her generation. She is likely to stay in training at four, with hopes of Arc redemption in 2026 and other major targets. Japan’s representatives will continue their pursuit of Arc glory, a dream still unfulfilled despite massive investment and high-caliber runners. The 2025 Arc de Triomphe will be remembered as a race of symbols and emotions. Paris’s fickle weather and the soft track added layers of tactical complexity. Mickaël Barzalona’s patient ride allowed Daryz (Sea The Stars) to reel in favorite Minnie Hauk (Frankel) and capture the race by a head. The victory paid tribute to the late Aga Khan IV, extended his operation’s Arc tally to eight, and reaffirmed the brilliance of his breeding vision. From a genetic standpoint, Daryz is the result of meticulous planning: he combines the paternal endurance of Sea The Stars, the class of Daryakana (Selkirk), and the foundational strength of Daryaba (Night Shift), all from the prolific 1‑e family. His triumph proves that great matriarchal lines can transmit excellence across generations to reach the pinnacle of the sport. Though defeated, Minnie Hauk confirmed the depth of Juddmonte’s legacy—her lineage from Frankel, Multilingual (Dansili), and Zenda (Zamindar), descendant of Bahamian (Mill Reef), exemplifies the genetic consistency sought by Prince Khalid Abdullah. The 2025 Arc crowned a new champion and delivered a masterclass in breeding, strategy, and legacy. Daryz’s win reminds us that in Thoroughbred racing, results are the fruit of decades of selection, investment, and passion—and that even under skies of rain and sun, the Sport of Kings continues to write stories worthy of legend.

The 2025 edition of the Zenyatta Stakes (G2), held at Santa Anita Park in late September, served as a demanding trial for the older filly and mare division in the United States. Returning from a six-month layoff, Cavalieri (Nyquist), the four-year-old filly trained by Bob Baffert and owned by Speedway Stables, reaffirmed her unbeaten status despite stumbling at the break, recording her fifth consecutive win. In addition to the $200,000 purse, the Zenyatta Stakes is part of the Breeders’ Cup Challenge Series, offering the winner a guaranteed berth in the Breeders’ Cup Distaff (G1) at Del Mar in San Diego, California. The 2025 renewal of the Zenyatta was contested over 1 1/16 miles (1700 meters) on the dirt at Santa Anita. Cavalieri, making her return after a long hiatus, she had not raced since the Beholder Mile (G1) in March, broke awkwardly and lost several lengths at the start. Jockey Juan Hernández quickly settled her behind her stablemate Richi (Practical Joke) and the rest of the field, which included defending champion Sugar Fish (Accelerate) and Peruvian shipper La Kika (Badge of Silver). Cavalieri (Nyquist) in the finish line in the Zenyatta Stakes (G2) with ears pricked. Midway through the race, the tempo was controlled by Richi (Practical Joke), the Chilean mare who rose to prominence after victories in her home country’s Gran Premio Tanteo de Potrancas (G1) and Alberto Solari (G1), and who later became a multiple graded stakes winner in the U.S. Cavalieri gradually circled the field, displaying her signature long, sustained drive. In the stretch, Baffert’s pupil ranged up alongside Richi, took command with ease, and drew off by 1¼ lengths, stopping the clock in 1:42.64. Post-race commentary confirmed the dominant nature of the performance. Hernández noted, “She was nervous but settled nicely after the opening strides and showed her class.” Baffert emphasized the need for a strong prep after the long break and stated that the Zenyatta had served its purpose in getting her race-fit for Del Mar. Richi, piloted by Flavien Prat, finished a game second but could not match the finishing kick of the unbeaten winner. Sugar Fish (Accelerate) was a disappointing fourth, and La Kika (Badge of Silver) never found her rhythm, finishing last. Richi deserves her own spotlight, not just for her performance but for what she represents for Chilean breeding. A granddaughter of the outstanding miler Practical Joke (Into Mischief), Richi was crowned champion juvenile filly in Chile after winning the Tanteo de Potrancas and other selective events. Upon arriving in the U.S., she adapted quickly to Michael McCarthy’s barn and captured graded victories, including the Santa Maria Stakes (G2). Her runner-up finish in the Zenyatta, after setting the pace, validated her class and confirms her suitability for future intermediate-distance contests. However, she was simply no match for a powerhouse like Cavalieri. La Kika (Badge of Silver) made her North American debut here, following a successful career in South America where she had dominated several Group 1 events, including the Gran Premio Pamplona in June—earning a “Win and You’re In” berth for the Breeders’ Cup Filly & Mare Turf. Transferred to Doug O’Neill’s barn, she began working immediately, without a lengthy acclimatization period, which may have affected her dull showing. Off slowly and never a factor, she trailed home well beaten. Video of the Zenyatta Stakes (G2) at Santa Anita Park. More than a Grade 2 race, the Zenyatta Stakes functions as a gateway to the Breeders’ Cup Distaff, one of the most prestigious races for dirt fillies and mares in North America. Beyond the monetary prize, the win grants free entry and travel expenses to compete for the $2 million purse in November. Formerly known as the Lady’s Secret Stakes until 2012, the race was renamed in honor of Zenyatta, who won it three years in a row. Notably, in 1993, 2002, 2009, and 2013, winners of this race went on to capture the Distaff—those champions being Hollywood Wildcat (Kris S.), Azeri (Jade Hunter), Zenyatta (Street Cry), and Beholder (Henny Hughes). In 2025, the Zenyatta showcased a wide regional spectrum: the American standout Cavalieri, Chilean heroine Richi, Peruvian star La Kika, and veteran Sugar Fish. Cavalieri’s dominant return, especially after more than six months away from the races, elevated her status further. Cavalieri’s victory further highlights the growing influence of Nyquist (Uncle Mo) as a sire and the stamina-rich maternal line of Stiffed (Stephen Got Even). South American interest also surged with Richi’s strong showing, affirming the quality of Chilean-breds on U.S. soil, whereas La Kika’s poor performance raised questions about the strength of the Pamplona “Win and You’re In” series at Monterrico Racecourse in Peru. With five wins from as many starts, including the La Cañada Stakes (G3), Beholder Mile (G1), and now the Zenyatta (G2), Cavalieri has emerged as one of the season’s brightest stars. Speedway Stables purchased her for $900,000 at the OBS April Sale of 2023, a price that now seems like a bargain, although her earnings to date stand at $438,000. Unbeaten, tactically versatile, and armed with a powerful turn of foot, she’s become a formidable presence in her division. At the Breeders’ Cup Distaff, Cavalieri will face the very best, including champion Idiomatic (Curlin), the accomplished Nest (Curlin), and rising stars Nitrogen (Medaglia d’Oro) and Clicquot (Quality Road). Her most significant advantage: she will enter the Distaff undefeated, a rare occurrence for this race. In fact, no filly has entered the Distaff with a perfect record in recent years. Whether she can carry her dominance over to Del Mar, a different surface and level of competition, remains the key question. However, her commanding Zenyatta performance and the confidence from her team suggest she could follow in the footsteps of Zenyatta herself and win the Distaff without ever having lost a race. Born in 2013, Nyquist (Uncle Mo) was a brilliant racehorse, Champion 2-Year-Old Male in 2015, winner of the Breeders’ Cup Juvenile (G1), Del Mar Futurity (G1), and FrontRunner Stakes (G1). At 3, he triumphed in the Florida Derby (G1) and Kentucky Derby (G1). His record stands at 8 wins from 11 starts, making him one of Uncle Mo’s most accomplished sons. Standing at Darley’s Jonabell Farm since 2017, his stud fee in 2025 has risen to $175,000, reflecting continued demand. Nyquist (Uncle Mo) posing for photographers at Jonabell, Darley, Lexington, Kentucky. From a genetic standpoint, Nyquist blends speed and stamina, with paternal lines through Indian Charlie and In Excess, and maternal ties to Forestry (Storm Cat) and Seeking the Gold (Mr. Prospector). Notably, his pedigree features a 5x5 duplication of Northern Dancer, a legendary breed-shaping influence, contributing to versatility and balance. Cavalieri’s dam, Stiffed, is a 2011 dark bay mare by Stephen Got Even (A.P. Indy) out of High Noon Nellie (Silver Deputy). On the track, she had 5 wins from 19 starts, including black-type victories and graded placings, amassing $256,559 in earnings. Her pedigree combines the stamina of A.P. Indy with the toughness of Silver Deputy. As a broodmare, she has produced other fillies, but Cavalieri is the standout. This mating—Nyquist x Stiffed—has proven particularly potent, mixing Uncle Mo’s precocity with the durability and mental fortitude of Stephen Got Even. Stiffed’s track record as a Listed winner and G3-placed mare suggests she passed down not only ability but a competitive mindset, traits clearly evident in her daughter. Cavalieri’s pedigree features rare inbreeding to Cox’s Ridge (Best Turn) via Stephen Got Even and Nyquist’s female line, reinforcing stamina and staying power. Additional influences include Mr. Prospector through Seeking the Gold and Silver Deputy. The A.P. Indy/Silver Deputy cross adds class, resilience, and a mental edge. For breeders at Coolmore or Darley, Cavalieri’s success supports the strategy of crossing Uncle Mo (Indian Charlie) sons with mares descending from A.P. Indy, yielding a blend of speed and depth. Cavalieri’s consistent performances between 1 mile and 1 1/8 miles highlight the effectiveness of this cross. Post-racing, her broodmare value will be immense. She is a prime candidate for matings with sires that complement her stout maternal influences, making her a potential foundation mare. Cavalieri’s Zenyatta Stakes win not only preserved her perfect record but also solidified her status as a top contender for the Breeders’ Cup Distaff. Her ability to overcome adversity, including a bad start and a lengthy layoff, and her superiority over stakes-level rivals like Richi and defending champion Sugar Fish, proved her mettle. South American fans were encouraged by Richi’s brave effort and left wondering about La Kika’s disappointing debut. From a genetic standpoint, Cavalieri (Nyquist) is the product of a strategically engineered cross, with speed, class, and stamina harmoniously combined. Her Zenyatta win further validates the strength of the Uncle Mo/A.P. Indy dynamic in modern breeding. As the Breeders’ Cup Distaff approaches, the racing world will be watching closely. Should she maintain her unbeaten record, Cavalieri may join the ranks of legends like Zenyatta, becoming a global icon and a testament to the enduring power of elite bloodlines in the Thoroughbred world.

The world woke up to heartbreaking news for the global breeding industry: the death of Wootton Bassett (Ifraaj), Coolmore’s flagship stallion. At just 17 years old, the son of Ifraaj (Zafonic) died on September 23 while standing at Coolmore Australia. According to the official statement, during a routine day he suffered a choking episode that led to acute pneumonia. Despite the efforts of a veterinary team led by Dr. Nathan Slovis, he could not be saved. The loss of this leading European sire, with nearly £7.6 million in progeny earnings and 23 classic winners, not only interrupts a story of resilience but deprives Coolmore of a master card for crossing its best mares. Born on February 4, 2008, in England, Wootton Bassett was bred by Laundry Cottage Stud Farm out of Balladonia (Primo Dominie), a Listed-placed mare who won once. Balladonia descended from the American mare Susquehanna Days (Chief’s Crown), a branch tracing back to the influential Gliding By. His sire, Ifraaj (Zafonic), was a Darley sprinter who won the Lennox and Park Stakesm both G2 over 7f/1400m. The cross blended the Mr. Prospector line (through Gone West) with strains of Nureyev and Tom Rolfe, resulting in a colt free of Sadler’s Wells and Danehill—bloodlines found in most of Coolmore’s broodmares. Wootton Bassett (Ifraaj) in Coolmore, Ireland. The female line of Wootton Bassett traces back to the American matron Key Bridge (Princequillo). From her descend not only the recently deceased stallion, but also Papineau (Singspiel), winner of the 2004 Ascot Gold Cup, Silver Patriarch (Saddlers’ Hall), a multiple G1 winner, and Key To Content (Forli). This female line also had its impact in South America when it arrived in Brazil through Key To The Edge (Sharpen Up), exported from the United States in 1987 by Haras Santa Ana do Rio Grande. From this branch descend the G1 winners Janelle Monae (Agnes Gold), triple crown winner in Rio de Janeiro in 2021; Rizzolini (Roi Normand), winner of the Carioca Derby in 2001; the champion sprinter of 1994 and 1995, Mensageiro Alado (Ghadeer); the champion sprinter of 1993 Clausen Export (Spend A Buck); and Uncle Tom (First American), as well as the G2 winner Huber (Acteon Man). Returning to Wootton Bassett, in September 2009 he was presented at the Doncaster St. Leger Yearling Sale, where agent Bobby O’Ryan purchased him for £46,000 (equivalent to US$75,000) on behalf of Frank Brady & The Cosmic Cases partnership. He was sent to trainer Richard Fahey in Malton, Yorkshire. Under Fahey’s guidance and with jockey Paul Hanagan, Wootton Bassett completed an immaculate juvenile campaign: he debuted with a maiden victory at Ayr, Scotland, in June 2010, and followed up in a novice at Doncaster. He then triumphed in two lucrative sales races (the Premier Yearling Stakes and the Weatherbys Insurance £300,000) before stepping up to the elite level in France. On October 3, 2010, he capped his unbeaten two-year-old season with an emphatic victory in the Prix Jean-Luc Lagardère (G1) at Longchamp, Paris. That performance earned him the title of French Champion Two-Year-Old Colt. His female line traces to the American matriarch Key Bridge (Princequillo). From her also descend Papineau (Singspiel), winner of the 2004 Ascot Gold Cup, Silver Patriarch (Saddler’s Hall), multiple G1 winner, and Key To Content (Forli). This female line also impacted South America when Key To The Edge (Sharpen Up) was exported from the U.S. to Brazil in 1987 by Haras Santa Ana do Rio Grande. From it descend G1 winners such as Janelle Monae (Agnes Gold), Rio de Janeiro’s Triple Crown winner in 2021, Rizzolini (Roi Normand), Derby Carioca winner in 2001, champion sprinter Mensageiro Alado (Ghadeer) in 1994 and 1995, champion sprinter Clausen Export (Spend A Buck) in 1993, Uncle Tom (First American), and G2 winner Huber (Acteon Man). Returning to Wootton Bassett, in September 2009 he was presented at the Doncaster St. Leger Yearling Sale, where agent Bobby O’Ryan acquired him for £46,000 (about $75,000) for the Frank Brady & The Cosmic Cases syndicate. He was sent to trainer Richard Fahey in Malton, Yorkshire. Under Fahey and with jockey Paul Hanagan, Wootton Bassett completed an immaculate juvenile campaign: he debuted winning a maiden at Ayr in June 2010, followed by a novice at Doncaster, then captured two lucrative sales races (Premier Yearling Stakes and Weatherbys Insurance £300,000) before stepping up to elite level in France. On October 3, 2010, he capped his unbeaten 2-year-old season with an emphatic victory in the Prix Jean-Luc Lagardère (G1) at Longchamp, Paris. That performance earned him the title of French Champion Two-Year-Old. His 3-year-old season was tougher. He tried his luck against the top milers in the Poule d’Essai des Poulains (G1), Prix du Jockey Club (G1), and other French features, but failed to place higher than fourth and went winless in four starts. His owners decided to retire him to stud at the end of 2011. In 2012, at just 4 years old, Wootton Bassett joined Haras d’Etreham in Normandy, with a service fee of €6,000. Despite some French breeders’ enthusiasm, initial response was lukewarm: 47 mares in his first season, 29 in the second. However, quality compensated for quantity. From his first crop of 23 foals came Almanzor (Wootton Bassett – Darkova), who would become European Champion Three-Year-Old of 2016, winning the Prix du Jockey Club, Irish Champion Stakes, and Champion Stakes, all G1s. Other notable early offspring included Patascoy (Muhtathir), Wootton (American Post), and Audarya (Wootton Bassett – Green Bananas), winner of the Breeders’ Cup Filly & Mare Turf (G1) in record time and the Prix Jean Romanet (G1) in 2020. Another precocious son, Wooded (Anabaa), won the Prix de l’Abbaye (G1) in 2020 and entered stud at Haras de Bouquetot. The success of these early runners skyrocketed Wootton Bassett’s reputation. His fee rose to €20,000 in 2017, then €40,000 in 2019, the year he topped France’s sire rankings. Breeders across Europe saw him as an upgrader, improving even modest mares. Nicolas de Chambure of Etreham praised his progeny as “consistent, mentally strong, and hardworking.” His pedigree, free of Sadler’s Wells and Danehill, made him an ideal outcross. This meteoric rise drew the attention of John Magnier, Michael Tabor, and Derrick Smith of Coolmore. In August 2020, Coolmore announced his purchase in a multi-million-euro deal. Sales director David O’Loughlin described him as “a true classic sire” and emphasized the unique opportunity to mate him with the many Galileo mares in their broodmare band. Wootton Bassett (Ifraaj) in Coolmore, Ireland. These results catapulted Wootton Bassett to the top of the European sire standings, where he led by a margin of more than €2 million over the rest. In addition, his global record rose to 127 black-type performers (15.7% of his runners) and 50 group winners, 16 of them at the G1 level. By 2025 the number of stakes winners had climbed to 71, with 16 remaining at the very highest level. Wootton Bassett also began to stand out as a sire of sires. His son Almanzor (Wootton Bassett) joined Haras d’Etreham and has already produced the Prix de Diane winner Gezora (Almanzor x Silver Hauk); Wooded (Wootton Bassett), at Haras de Bouquetot, is the sire of Woodshauna (Wooded), winner of the Prix Jean Prat. In Europe, King Of Steel (Wootton Bassett) at Tally-Ho Stud and River Tiber (Wootton Bassett) at Haras de la Huderie also began their stallion careers. This range of sires ensures that Wootton Bassett’s line will remain alive in future generations, leaving a strong legacy, and undoubtedly one of the cracks seen on the track will eventually replace his father on Coolmore’s stallion roster at Fethard, Tipperary, Ireland. The pedigree of Wootton Bassett is an interesting blend of speed and stamina. His sire, Ifraaj (Zafonic), descends from the champion sprinter Zafonic (Gone West). His dam, Balladonia (Primo Dominie), brings influence from Dominion (Derring-Do) and the family of Chief’s Crown (Danzig). This combination places Wootton Bassett in the male line of Mr. Prospector and gives access to the blood of Nureyev and Ahonoora, while avoiding the saturated influences of Sadler’s Wells, Danehill, Green Desert, Montjeu, and Dubawi. David O’Loughlin emphasized that this made him an ideal outcross for mares carrying those lines. Coolmore’s studies show that Wootton Bassett works well with a wide variety of mares. In fact, his first 16 group winners came from 16 different broodmare sires, a rare index of versatility. Analysis of his stallion database reveals certain trends. One is the duplication of the Goody-Two-Shoes family. Looking at Pastorale (Nureyev), dam of Ifraaj, both sire and maternal grandsire trace to the {5-h} family. Experts recommend reinforcing that line with mares carrying Sadler’s Wells, Fairy King, or Nureyev. That is, although Wootton Bassett is free of Sadler’s Wells, he still contains his female line, where a possible Rasmussen Factor can easily be sought in the repetition of the matriarch of the {5-h} family, Special (Forli). The reinforcement of Mr. Prospector in Coolmore and European genetics was also key to Wootton Bassett’s success. In a European turf environment saturated with paternal lines from Northern Dancer, Wootton Bassett’s male line descends from Gone West (Mr. Prospector). He also responds positively to mares with additional doses of Mr. Prospector, as shown by his son The Black Album (Wootton Bassett), with inbreeding 3x3 to Zafonic (Gone West). Wootton Bassett (Ifraaj) parading his physique at Coolmore Ireland. Wootton Bassett transmits mental and physical consistency, declared Nicolas de Chambure, who highlighted that his progeny are “mentally strong, good workers, and do not disappoint their trainers.” Richard Fahey, who trained him and later followed the progress of his offspring, supported this by saying the stallion was “a gentleman, who listened and did everything except talk,” and that this docility was passed on to his descendants. Thanks to these virtues, Wootton Bassett became an upgrader, often said to “improve his mares” because he produced winners even with modest-quality mares, as demonstrated by his first crops, where 15 winners emerged from 23 foals. His success proved that pedigree quality and mental aptitude can compensate for smaller books. Although Wootton Bassett’s death occurred in Australia, the blow was felt especially strongly at Coolmore. Coolmore had announced that part of his Irish produce would travel annually to Ashford Stud, its American branch, to be sold at the Keeneland and Fasig-Tipton sales. The stallion’s death means the loss of a strong revenue generator and the need to rely on his sons, such as King Of Steel or Camille Pissarro, to perpetuate the line and cover elite mares. The rise of Wootton Bassett from a £46,000 yearling to a €300,000 stallion fee is an inspiring example. A new sire line in Europe was necessary. Thanks to him, the influence of Mr. Prospector, through Gone West and Zafonic, regained prominence in European breeding, traditionally dominated by Sadler’s Wells and Danehill, and other male lines descending from Northern Dancer. Wootton Bassett showed that an outcross can produce champions and revive genetic diversity. He proved that quality can emerge from small books. His first crop of 23 foals produced Almanzor (Wootton Bassett), and in his first four crops, none larger than 50 foals, he sired Audarya, Wooded, and Patascoy, leaders of their generation in Europe, especially in France. This fact encouraged smaller breeders to trust emerging stallions. His first Coolmore crop broke records by producing 10 group winners among the two-year-olds, surpassing titans like Danehill (Danzig) and Galileo (Sadler’s Wells). This milestone opened the door to the possibility that a stallion unproven within the house could become a world leader. The investment in Wootton Bassett proved that it is worth betting on a stallion with proven results even if he comes from a “modest” stud. His purchase for several million euros and the subsequent multiplication of his value validated Coolmore’s strategy of diversifying its roster and ensuring alternatives to the omnipresent Galileo. The premature death of Wootton Bassett (Ifraaj) deprives the breeding world of an exceptional stallion. Bred in England and tested in France, he proved that humble origins can generate greatness. His unbeaten two-year-old campaign and his victory in the Prix Jean-Luc Lagardère opened the doors to stud duty, but it was his genetic consistency and his ability to improve mares that made him a phenomenon. At Haras d’Etreham he produced stars such as Almanzor, Audarya, and Wooded. At Coolmore he raised the bar with a flood of group winners, led by Camille Pissarro, Henri Matisse, and Whirl. His genetic traits, Mr. Prospector lineage, the absence of Sadler’s Wells and Danehill, Nureyev influence, and his maternal line, as well as his temperament, were key to his success. For Coolmore he represented an unmatched strategic resource, a stallion capable of refreshing the bloodlines of its mares and creating a new male line for the coming decades. His absence leaves a huge void, but his legacy will endure in his sons and grandsons. The story of Wootton Bassett proves that talent can emerge where least expected and that, in breeding, patience and vision are rewarded with genetic jewels that transform the landscape of bloodstock.

No Bien Ni Mal reinforced the reputation of South American racehorses in the United States by keeping his undefeated record intact in his second North American start, the Greenwood Cup Stakes (G3), held on September 20, 2025, at Parx Racing, Pennsylvania. The four-year-old Brazilian chestnut, bred by Haras Santa María de Araras in Bagé, Rio Grande do Sul, and raised at Haras Fronteira, is trained by Paulo Lobo for Mr. Ricardo Felizzola’s Stud Duplo Ouro. He covered the mile and a half in 2:31.23, decisively defeating Double Your Money by 1 ¾ lengths, leaving the rest of the field more than seven lengths behind. No Bien Ni Mal (Hofburg) with Joel Rosario dominating in Parx Racing. The race unfolded at a controlled pace. Guided this time by Joel Rosario, No Bien Ni Mal settled in third place behind favorite Digital Ops and Double Your Money, who set fractions of 25.13 for the opening quarter and 49.22 for the half-mile over a track producing fast times. When they approached the three-quarter pole (1:15.19), Rosario asked his mount to advance. On the final turn, Digital Ops began to weaken, Double Your Money took the lead, but No Bien Ni Mal launched his outside attack, drew level in the stretch, and effortlessly pulled away with authority. In the final strides, he widened his advantage without being fully extended, confirming the impression left by his previous victory at Saratoga. Lobo, securing his first win of the Parx season, noted the plan was to give the colt a progressive challenge: “His whole pedigree is stamina-oriented, and we’re thinking about the big races next year, even the Dubai World Cup.” This U.S. campaign continues what No Bien Ni Mal had already shown in his native Brazil. As a juvenile, he ranked among the best stayers in the country, with his major triumph being the Gran Premio Derby Paulista. In 2024, he debuted in Maroñas, Uruguay, delivering strong performances. Duplo Ouro Stables LLC, owned by Ricardo Felizzola, sent him to the United States at the end of January 2025, and his adaptation has been flawless: two races, two victories under the care of Paulo Lobo’s team at The Thoroughbred Center. No Bien Ni Mal is a son of Hofburg, a stallion imported to Brazil by Julio Bozano. Hofburg is by Tapit (Pulpit) out of Soothing Touch, by Touch Gold (Deputy Minister), runner-up in the 2018 Belmont Stakes and third in the Florida Derby. He hails from the powerful {2-d} family descending from Natalma (Native Dancer), dam of Northern Dancer (Nearctic). Since his first Brazilian crop, Hofburg has produced multiple group winners on dirt and turf, including Vitruvian, Nam Phrik, New Future, and the talented No Bien Ni Mal, who impressed in Maroñas before winning at Saratoga. His progeny typically excel on dirt, with names like No Bien Ni Mal, Nam Phrik, New Future, and Óbvio standing out, while others such as Vitruvian, Niver Ball, Navy Of War, and Osten have also performed well on turf. The dam of No Bien Ni Mal is Una Beleza (Signal Tap, by Fappiano), a dual G1 winner in São Paulo from the distinguished {9-h} family. His third dam is the legendary Griffe de Paris by Telescópico and out of April in Paris, by Locris, the champion mare of 1991 who captured the Gran Premio OSAF (G1) at Cidade Jardim, São Paulo, with a remarkable late rally. From Griffe de Paris descends a dynasty of champions: G1W Generaux, G1W Global Hunter, G1W Lady de Paris, G1W Ollagua, G1W Greta G, G1W Grezzo, G1W Lah Lah Lah, G1W Naturalizada, record-horse Open Bar, G2W Cerro Largo, G2W Bay Ovar, G2W Artejusta, among others. Una Beleza herself is a half-sister to Touriga (Put It Back), a G1 winner. The hallmark of this family is its ability to transmit stamina and finishing power—traits now evident in No Bien Ni Mal. Genetically, his pedigree features a duplication of Fappiano (Mr. Prospector) in 3x5, via Signal Tap and Unbridled (Tapit’s grandsire). This cross contributes both raw power and structural soundness. The Tapit/Pulpit line ensures deep stamina through Seattle Slew, while the Argentine influence of Telescópico on the female side injects speed. The result is an ideal mix for long dirt distances, as proven in the Greenwood Cup. With this victory, the Brazilian colt preserves a flawless U.S. record and opens a wide range of possibilities for winter and spring 2026. His trainer mentioned the Clark Stakes (G2) at Churchill Downs in late November as the next target, with the Dubai World Cup (G1) in March, prize pool worth $12 million, as the long-term goal. Lobo suggested to Felizzola that the horse thrives over a mile and a quarter or more, making such challenges well within reach. Felizzola’s operation, under the yellow and blue silks of Duplo Ouro, has been consolidating globally. Besides No Bien Ni Mal, his paternal brother Obstacle (Hofburg) recently broke a long-standing record at Maroñas and could ship to Lexington after the José Pedro Ramírez (G1) on January 6. Another of his horses, Sparco (Verrazano), just finished second in a Latino qualifier at Gávea in Rio de Janeiro and is contesting Brazil’s G1 races. Felizzola invests in top genetics and raises them at Haras Fronteira, where resident veterinarian Dr. Alex Menezes plays a key role. Trainer Paulo Lobo has also enhanced the stock under his care. The Uruguayan Triple Crown winner Suablenanav TH (T. H. Approval), the champion Devassa (Alcorano), and G1 winner Dale Flojita (Sloane Avenue) were all exported and are now under his supervision. This highlights the ambition of owners willing to risk and invest to elevate South American racing—particularly Uruguay and Brazil—onto the world stage, with the goal of contesting America’s top classics. In a landscape where exporting South American runners to the U.S. has paid dividends, the rise of No Bien Ni Mal bolsters the region’s bloodstock reputation. If his progression continues, his campaign could mirror past South American stars in North America, while adding yet another glorious chapter to the legacy of Griffe de Paris, whose family continues to produce champions capable of winning prestigious races across both hemispheres.

The Keeneland September Yearling Sale presents itself every year as the great barometer of the health of the Thoroughbred industry in the United States. The auction is organized by Keeneland Association, a consortium made up of breeders and consignors that also operates the racecourse and sales complex in Lexington, Kentucky; the sale is the largest yearling market in the world and, across twelve sessions, ranges from elite stock destined for the Kentucky Derby to yearlings for regional circuits. The 2025 edition not only confirmed the vitality of the industry, it also left a trail of records and trends within the genetic sector that sketch the map of the future of the sport in the United States and beyond. Keeneland Association, founded in 1935 by Hal Price Headley and a group of Fayette County breeders, is a nonprofit entity that aims to promote Thoroughbred breeding and racing. Its racecourse stages Grade 1 races every spring and fall, and its sales pavilion holds three annual auctions: January (horses of racing age, broodmares and late yearlings), September (yearlings of roughly a year and a half), and November (broodmares and weanlings). This current sale, which lasts almost two weeks, concentrates around 40% of North America’s yearling sales volume. For breeders and buyers, Keeneland is to genetics and bloodstock what Wall Street is to capital: the place where sporting dreams are priced and the quality of pedigrees is valued. The sale runs from September 8–19, 2025 (no sales on the 13th), divided into 12 sessions grouped into 6 books. The first two Books correspond to the top 20% in pedigree, conformation, and commercial appeal; the following Books group, year after year, stock with graduated quality. The official figures are eloquent: at the end of the first week, four consecutive days of selling, $307,639,000 had changed hands for 671 horses, with 53 yearlings at $1 million or more, an increase of 31 over 2024. By the close of the sixth session (Book 3), the tally reached 1,216 yearlings sold for $417,622,000, 24 more than in the same period of 2024; the average stood at $343,439 (+19%) and the median at $250,000. The RNA rate hovered around 30%, indicative of a selective but not speculative market. The 2025 figures are interpreted in a context of post-pandemic economic recovery and an industry with purses on the rise. Several factors contributed to the optimism: the strength of summer racing at Saratoga and Kentucky Downs, the limited supply of elite yearlings (around 4,000 fewer foals than the previous decade), and the appeal of U.S. tax rules allowing accelerated depreciation (bonus depreciation). Keeneland President & CEO Shannon Arvin described the atmosphere of the opening session as “exciting and electrifying,” with a packed pavilion and many new faces. Tony Lacy, Vice President of Sales, spoke of a market “logical and not overheated”; the fact that 15 Book 1 yearlings surpassed $1 million, the highest number since 2006, proves the point. Cormac Breathnach, Director of Sales Development, highlighted that the 15 top-priced lots went to 13 different buyers, by 12 sires and 11 consignors, a sign of depth and diversification. Book 1 was held over two sessions, Monday the 8th and Tuesday the 9th of September, and gathered the most exclusive pedigrees. Here 106 yearlings sold on day one and 101 on day two. Opening day totaled $69,240,000 with a record average of $653,208 and a $537,500 median, with an RNA of 20.90%. In total, 15 yearlings made over $1 million. The top lot of the entire sale appeared on opening day, Hip 177 a colt by Gun Runner (Candy Ride) and the second foal out of the mare Thoughtfully (Tapit). He brought $3,300,000 and was purchased by M. V. Magnier (Coolmore), Peter Brant (White Birch Farm), a partner of Magnier’s operation, and Winchell, co-owner of the sire. The dam, Thoughtfully, won Saratoga’s Adirondack Stakes (G2) and earned $168,000 on the track. She brings the influence of Tapit and the family of G1 winner Furlough (Easy Goer). Buyers underlined his “stallion-prospect physical and pedigree,” which helps explain the price. Something similar happened in 2022, when Magnier bought a Gun Runner for $2,300,000, $1 million less than now, and that colt was named Sierra Leone, today one of the candidates to win the Breeders’ Cup Classic (G1). Hip 177, highest of the sale, purchased by Magnier and Brant. / Keeneland Sales The same duo, Magnier & Brant, paid $1,500,000 for a colt by the sensational Into Mischief (Harlan’s Holiday) from the female line of Heavenly Cat (Tabasco Cat); his dam is a G2 winner with multiple G1 placings and $740,000 in earnings. Another Gun Runner colt brought $2,200,000 and was purchased by trainer Wesley Ward. He is a full brother to Early Voting, and the dam of Hip 243 is Amour d’Ete (Tiznow), already a G1 producer and a half sister to G1 winner and sire Speightstown (Gone West). A colt by Not This Time (Giant’s Causeway) bred by Hinkle Farms sold for $2,000,000 to David Lanigan for Mrs. Cindy Heider. Another Not This Time colt was secured by Saudi-based KAS Stables, through agent Pedro Lanz, for $1,700,000. Not This Time was the breakout sire of the sale, achieving an average above Curlin (Smart Strike), Into Mischief (Harlan’s Holiday), Justify (Scat Daddy) and Tapit (Pulpit). A filly by Flightline, from his first crop, sold for $2,200,000 to LSU Stables. She is the first foal out of a Majesticperfection (Harlan’s Holiday) mare who was a multiple G3 winner in Kentucky and earned $495,000. Another Flightline made $1,700,000 to Japanese buyer Naohiro Sakaguchi. The presence of international buyers from Japan, Ireland and the Middle East reflects the market’s global reputation. Tony Lacy, Keeneland’s VP of Sales, spoke of a “fun” atmosphere with buyers enjoying the competition. Book 1 prices confirmed the trend observed since 2021: polarization of demand. The leading buyers did not hesitate to pay premiums for individuals that combine classic pedigrees with current sire-line success on the track; at the same time, pressure on mid-priced lots remained contained. The $537,500 median is a good sign: the lower half of Book 1 still easily clears the half-million mark and provides value for investment or pin-hooking operations, where yearlings are bought to resell as two-year-olds in training. In Book 2, 221 yearlings sold in its first session for $85,702,000 with a $387,792 average and a $325,000 median, a 22% increase over last year’s Book 2. The second session added another $77,752,000. Thus, Book 2 totaled $163,454,000 for 438 head, with a $372,599 average and a $300,000 median, both above 2024. Most notable was the number of millionaires: 13 yearlings topped $1 million in Book 2’s opening session, lifting the sale’s running total to 48 at that point. Gun Runner colts shone again: Spendthrift Farm paid $1,900,000 for a son of the sire, closely related to Japanese champion Danon Decile. A Curlin colt cost $1,400,000 to Mike Ryan, who remarked there is “a genuine fever for quality,” adding that the filly to be sold in 2026 out of this family “should already be worth that price.” St. Elias, Albaugh Stables, West Point and Railbirds teamed up to purchase a Not This Time colt for $1,350,000, underscoring the growing respect for this young sire. Tony Lacy described the Book 2 market as “strong but realistic,” with a 30% RNA, sign buyers would pay premiums when quality warranted and pass on lots without added value. Book 3 took place on Saturday and Sunday and set a historical revenue record for that segment. During the sixth session (Sunday), 267 yearlings sold for $48,184,000 with a $180,464 average and $150,000 median, up 26.9% and 36.36% respectively over 2024. The stars here were the Not This Time offspring: a colt bred by Summer Wind Equine out of Sweetened (Candy Ride) brought $875,000 to Repole Stable & St. Elias. This colt hails from the family of the great Zenyatta (Street Cry); his third dam is Vertigineux (Kris S.), the champion’s dam. These prices indicate buyers were still willing to pay premiums for emerging-genetics colts even outside Book 2. Other notable Book 3 prices: a Tiz the Law colt at $675,000 to Donato Lanni, and several $600,000 yearlings by Bolt d’Oro (Medaglia d’Oro), Nyquist (Uncle Mo), Liam’s Map (Unbridled’s Song) and Not This Time (Giant’s Causeway). Books 4 and 5 (Monday to Wednesday of week two) held slightly lower averages and medians, suggesting the market normalizes as it moves away from the elite. However, demand stayed lively thanks to buyers active on regional circuits, state-bred incentive programs (New York-breds, Ontario-breds) and international groups seeking opportunities at reasonable prices. Total revenue at the sale’s close surpassed $450 million, according to Keeneland press notes (not time-stamped in this timeline, but verified by cumulative sums). With around 2,850 yearlings offered and a global clearance rate of ~74%, the auction solidified its reputation as a barometer for breeders. The sale made clear which sires are viewed as the engine of the industry. A yearling’s valuation depends largely on the reputation and results of its sire. Below we analyze the stallions that generated the highest bids and the relationship between their stud fees and the prices of their yearlings. Gun Runner, by Candy Ride and Quiet Giant by Giant’s Causeway, continued his hegemony. His offspring had earned over $13,500,000 in 2025 and he was sitting second on the sires’ list—until the Not This Time runners wreaked havoc at the Kentucky Downs meet in Franklin, Kentucky, winning million-dollar stakes plus multiple high-priced maidens and allowances, nudging Gun Runner back to third. During week one of the sale, 12 of his yearlings reached the million-dollar mark, averaging $887,436. In addition to the $3,300,000 top lot, Gun Runner featured atop Book 2 with the $1,900,000 colt bought by Spendthrift Farm (from the family of Japanese champion Danon Decile), another at $1,550,000 purchased by M. V. Magnier and White Birch Farm, and $1,250,000 colts knocked down to buyers such as AMO Racing, Spendthrift, Three Chimneys, Mike Repole, among other elite operations. Across the first three books, Gun Runner was the sire with the highest average. Gun Runner’s appeal is data-driven. His first crop, foaled in 2019, produced graded winners such as Gunite, Taiba, Early Voting, Echo Zulu, Cyberknife and Society, early developers successful from sprint to middle distances. Genetically, Gun Runner blends Candy Ride, a speed/middle-distance line potent at the mile, with the Quiet Giant family, a sister to Roman Ruler, bringing stamina via Fappiano. Gun Runner also embodies the highly effective Candy Ride–Storm Cat nick, with Giant’s Causeway as maternal grandsire at his best. Buyers value that his yearlings have powerful builds and professional mindsets. Economically, with a $250,000 fee in 2024 and yearlings selling at averages nearly ten times that, the breeder margin is extraordinary, fueling confidence and competition for his stock. Into Mischief, by Harlan’s Holiday and Leslie’s Lady by Tricky Creek, continues to lead the North American sires’ list by progeny earnings, just as he did in 2019, 2020, 2021, 2022, 2023, 2024 and, barring a surprise, will again in 2025, with $22,850,000 banked at the time of writing, over $7,000,000 ahead of second, with a marquee representative in Sovereignty pointing to add more on November 1 after the Breeders’ Cup Classic (G1). In Book 1, his progeny sold consistently above $1 million, highlighted by a $2,000,000 colt to Justin Casse, Magnier and White Birch, Hip 1197, from the same female line as millionaire Tapit Trice (Tapit). His 2025 stud fee stood at $250,000, the highest in the Western Hemisphere, and his yearling median reflected a conservative 4–5x multiple of the fee, a sign buyers still see value. Into Mischief (a son of Harlan’s Holiday) contributes early speed and precocity; his progeny excel at two and are notably consistent. While the “depth” of the 7–9 furlong niche can limit his impact at classic distances, his ability to produce elite sprinters and milers keeps his commercial appeal high. And with Sovereignty, he’s shown he can get the occasional stayer when matched with the right mare. The revelation of the sale was Not This Time, by Giant’s Causeway and Miss Macy Sue by Trippi. With only four crops of racing age, the sale caught his stock at the perfect moment. In 2025, his runners lifted him to second on the general U.S. sires’ list by earnings, edging past Gun Runner by mid-September. The effect was felt at Keeneland, where his yearlings reached up to $2,000,000 and 14 hit the million mark. Likewise, Not This Time led all sires by gross in the first three books, with 56 yearlings selling for $38,855,000. The reasons for this “boom” are several. A half brother to Liam’s Map and direct son of Giant’s Causeway, the stallion throws a notably athletic physique. His runners Epicenter, Up to the Mark and Cogburn became G1 winners at three, showing versatility on dirt and turf, over various distances, in California, New York, Kentucky, Florida and Dubai. All those G1 winners are out of different mares and broodmare sires, signaling tremendous versatility; with more seasons, an especially effective nick will likely crystallize. The September sale coincided with a streak of his runners’ victories at Saratoga and Kentucky Downs, whetting buyers’ appetites.  The Keeneland Sales Pavilion is a spectacular stage. Significantly, Not This Time offers a pedigree with an interesting second dam. Yada Yada (Great Above) carries a duplication to the mare Ta Wee (Intentionally) in 2Sx3D. Yada Yada also produced a stakes-winning mare—the dam of Not This Time—who not only produced this sensational stallion but also foaled the following black-type winners: her second foal, champion Liam’s Map (Unbridled’s Song), Taylor S (Medaglia d’Oro), a G2 winner, and the millionaire Matera (Tapit), sold for $1,400,000 at this same sale in 2018. His stud fee rose to $175,000 for 2025, but the return—measured by his Keeneland yearling average—comfortably exceeds that value, roughly a 5x multiple. For many breeders, Not This Time represents the continuation of Giant’s Causeway’s (Storm Cat) influence adapted to the modern era. Without doubt, Not This Time will sire many more graded winners—and, crucially, he profiles as a strong broodmare sire in time. Flightline, by Tapit out of Feathered by Indian Charlie, retired unbeaten after winning the Breeders’ Cup Classic by 8 lengths with a staggering 126 Beyer. With an initial $200,000 fee in 2023, his first yearlings were eagerly awaited at Keeneland. Prices were high: the priciest was the top-priced filly across the first three books—$2,200,000 to LSU Stables—mentioned earlier. Another colt brought $1,700,000 to Naohiro Sakaguchi and another $1,400,000 to Mayberry Farm for CRK Stable. These results showed confidence but also prudence: buyers value his athletic upside but haven’t yet seen his offspring race. Genetically, Flightline brings the Tapit line and the family of G1 winner Feathered (by Indian Charlie), with duplications of Mr. Prospector and Seattle Slew in intermediate positions. The cost of his yearlings will only prove profitable if his runners replicate the sire’s talent; nevertheless, competition for the first offerings created headlines and kept the brand front-of-mind. Curlin, a two-time Horse of the Year, maintained his position as a “reliable classic” influence: a colt sold for $1,400,000 to Mike Ryan and his Book 1 presence generated robust averages. Tapit, patriarch of the A.P. Indy (Seattle Slew) line, saw yearlings top $1 million, per Gainesway Farm reports. Nyquist, Justify, Practical Joke, Good Magic and Nyquist also sold well, reflecting buyer confidence in relatively young but proven sires. Yaupon, whose first two-year-olds earned over $1 million in summer racing in New York and California, had solid sales across Books 3–4. Vekoma (Candy Ride) sold a filly for $850,000 to Resolute Bloodstock (John Stewart), confirming his rise with his second crop. Vekoma’s average was $219,720; his 25 sold for a total of $5,493,000. Collectively, the figures show buyers are willing to pay premiums for sires with racetrack performance and young stallions with upside. The dispersion of prices suggests the “middle class” of sires (fees $25,000–$50,000) also found liquidity, though their yearlings rarely surpassed $300,000. The correlation between stud fee and average price holds, but with variance: Not This Time and Gun Runner multiply fee values by 5–7, while others roughly double the cover cost. The 2025 edition showed a market balanced between traditional major players and new investors. Among the leading buyers are; Coolmore & White Birch Farm (M. V. Magnier and Peter Brant): beyond the $3,300,000 colt, they bought an Into Mischief for $1,500,000 and a Gun Runner colt for $1,550,000. Coolmore continues to strengthen its North American base with colts aimed at the Triple Crown. Repole Stable, sometimes in partnership with St. Elias Stables, led week 1 buyers, investing $14,085,000 in 32 yearlings. Their focus includes Not This Time, Gun Runner and Flightline yearlings. Purchasing advisor Jacob West emphasized they seek horses that can compete on the NYRA circuit and in America’s classic races. Flying Dutchmen (Hunter Rankin and partners) led Thursday’s session with five purchases totaling $3,745,000, including a Life Is Good colt for $1,250,000 and a Not This Time filly for $1,000,000. Rankin highlighted that proven dams and strong families justify those prices. Spendthrift Farm, a traditional consignor, acted as a strategic buyer: they acquired the $1.9 million Gun Runner colt and other Not This Time lots. One of the highest average tickets among buyers: 8 purchases for $8,700,000, an average of $1,087,500 for Tamara Hughes and Eric Gustavson’s operation leaded by Ned Toffey. Donato Lanni worked as agent for major owners trained by the Bob Baffert team in California. SF Racing, Starlight and Madaket acquired 20 lots across the first three books. Present as advisor, Bob Baffert called the sale a “frenzy” for quality, sign buyers don’t want to miss out. St. Elias, Albaugh, West Point and Railbirds joined forces to buy a Not This Time colt for $1.35 million, an example of owner alliances to spread risk and increase bidding power. International buyers: Japan’s Naohiro Sakaguchi purchased two Flightline colts for $1.7m and $1.5m. Beyond Europe, buyers from the Middle East and UAE were active on Into Mischief and Nyquist lots, reflecting market globalization. Geographically, Keeneland reported buyers from 25 countries participated, with strong presence from Japan, Ireland, Canada and Gulf nations. This diversity helps mitigate U.S. market volatility and confirms the American Thoroughbred’s export appeal. Also, in the remaining three books, prices will ease, allowing many other clients to access yearlings. On the supply side, consignors play a key role. Week 1’s leading consignor was Taylor Made Sales Agency, with $46,815,000 in sales for 108 yearlings. Taylor Made, founded by the Taylor family, is known for a diverse portfolio and ability to attract global buyers. Next came Hill ’n’ Dale at Xalapa, consignor of the $3,300,000 colt. Four Star Sales consigned the $1.55 million Gun Runner colt out of Twenty Carat, from the family of Shared Account (Breeders’ Cup Filly & Mare Turf winner). Dixiana Farm sold a Flightline colt for $1.4 million and a Not This Time for $775,000.. Taylor Made’s show string ahead of sale days. / Keeneland Sales Among breeders, standouts included Summer Wind Equine, responsible for the $875,000 Not This Time colt; Spendthrift Farm, which, beyond buying, also sold million-dollar yearlings; Gainesway Farm, which told media that Tapit’s yearlings hit record figures; and several Canadian breeders who, according to Canadian Thoroughbred, placed Ontario-bred yearlings at unprecedented prices. The success of Ontario-breds (Ontario’s incentive program) shows the importance of state bonuses in commercial values, as with New York-breds. The distribution of the top lots, Gun Runner, Not This Time, Flightline and Into Mischief, across various consignors reflects that quality isn’t concentrated in a single farm. Even so, farms with global partnerships, like Hill ’n’ Dale (John Sikura), Taylor Made or Three Chimneys Farm (owners and home of Gun Runner), tend to attract top buyers thanks to confidence in their selection and horsemanship. A fundamental part of yearling valuation is pedigree interpretation—analyzing not just sire achievements but the mare’s lines, duplications of key ancestors, and the interaction of sire and dam lines. Science and art meet at Keeneland, and the 2025 edition left clear genetic signals. The Argentine Candy Ride, by Ride the Rails out of Candy Girl (Candy Stripes), is the patriarch of family {13-c}. Unbeaten in 6 starts and Pacific Classic winner in record time at Del Mar, he became one of the most influential sires of the last decade in the U.S. His chief heir, Gun Runner, dominates lists and sales; Twirling Candy sits fourth on the 2025 earnings list; Vekoma, Metropolitan Mile winner, debuted as a sire with ~2% stakes winners to runners and sold $850,000 yearlings; Rock Your World, with his first crop on the track, ranks fifth among freshman sires with 11% black-type runners and is now a G3 sire thanks to Taken By The Wind at Churchill Downs. This “Candy Ride economy” is based on the patriarch’s ability to transmit speed, intermediate stamina and miler capability without saturating the pedigree with close duplications of Northern Dancer (Nearctic) or Mr. Prospector (Raise A Native). His line crosses well with mares from Storm Cat and A.P. Indy sire lines. At Keeneland, buyers pay premiums for Candy Ride and his descendants because the pedigree demonstrates versatility and high efficacy. Not This Time represents the refreshed Giant’s Causeway line. His runners Epicenter (second in the 2022 Kentucky Derby and Travers winner) and Up to the Mark (triple G1 winner on turf) showed he can sire top performers on dirt and turf from a mile to 12 furlongs. Very recently he added two new G1 winners—Troubleshooting at Kentucky Downs and Sacred Wish in Del Mar’s Matriarch Stakes (G1). This versatility translates to the market: buyers see Not This Time as a play for the Triple Crown but also for turf, opening the door to European or Japanese clients. Tapit, by Pulpit out of Tap Your Heels (Unbridled), has long dominated as a sire of long-distance classic horses, Essential Quality, Tonalist, Cupid and Frosted among them. His stock can take time to mature, but top buyers invest because Tapit’s colts often turn into quality runners and stallion prospects. Duplications to A.P. Indy and Seattle Slew, adding cardiovascular “engine”, are sought for mares with speed lines. He also brings a Nijinsky (Northern Dancer) component that provides substantial stamina. At Keeneland 2025, Tapit maintained a high profile with Book 1 yearlings selling well above $1 million. His son Flightline looms as a successor, though his produce has yet to race and will need on-track validation. Buyers follow “nicks”, historically effective crosses. The Gun Runner–Tapit cross produced the $3,300,000 colt; the Not This Time, Tapit combination yielded the $1,700,000 colt, showing Tapit is announcing himself as an excellent broodmare sire. The Into Mischief blend with mares by Bernardini has already produced the crack, dual classic winner Sovereignty, and in this sale returned a $1.5 million yearling. In general, buyers seek combinations that balance speed and stamina. By the close of the sixth session (mid-sale), total receipts were $417,622,000 for 1,216 yearlings with a $343,439 average and $250,000 median, more than 24% above last year’s figure. With more sessions ahead, projections pointed to a final around $450 million. The RNA rate (yearlings not reaching reserve and bought back by their breeders) hovered near 30%, an acceptable level signaling both selectivity and commercial strength. For breeders, profitability depends on multiplying the stud fee by a factor (often 2–5) to cover breeding, upkeep and consignment costs. Gun Runner and Not This Time returned bteween 5 to 7 times their fees, providing generous margins. In the middle tier (Yaupon, Good Magic, Practical Joke), multiples were 2–3, enough to cover costs but without huge profits. Sires below $15,000 saw yearlings trade $40,000–$80,000, allowing regional breeders to recoup if placed in Books 4–6. From the buyers’ perspective, the key question is break-even: how much must the horse earn in purses to justify its price? With a $1 million Kentucky Derby and rising purses in New York and California, a $400,000 yearling needs to win a stake or multiple allowances to break even. However, the industry offers other paths to recover investment through resale (pin-hooking) and through stallion or broodmare residual value if the horse succeeds on the track. Participation from Asia and the Middle East stabilizes the market. Japan, for instance, has adopted a selective import model geared to staying and turf racing; Naohiro Sakaguchi’s purchase of a Flightline colt points to prolonging Tapit’s influence in Japan’s program. UAE and Qatar target milers and sprinters for their winter seasons; they bought Into Mischief and Not This Time yearlings. Canada and South America were present with modest operations, leveraging incentive programs to favor purchases of home-bred yearlings. This diversity helps buffer reliance on the U.S. market. In 2008–2009, the financial crisis dragged prices lower due to a collapse in local demand; today, global balance reduces volatility. Keeneland reported buyers from 25 countries bid on yearlings in Books 1 and 2. If one region trims investment, others can compensate, lending the market resilience. The 2025 edition offers several lessons for breeders and consignors. Taylor Made and other leading consignors underline the importance of raising correct yearlings with deep pedigrees. Book 1’s tight curation at just 207 yearlings shows the elite is increasingly selective. Mid-sized breeders should aim to place a product in Books 2–3 to achieve positive returns. Disparity in fee multiples shows not all sires offer the same ROI. Gun Runner and Not This Time are near-term “safe bets”; patience and investment in a rising stallion such as Yaupon, Vekoma, or Rock Your World can generate outsized returns if their first runners deliver. On the mare side, buyers pay premiums for producers of stakes horses or well-recognized families. Investing in quality mares and maintaining impeccable veterinary records is essential. Seven-figure yearling purchases are often done in partnership, Magnier, Tabor and Smith partnering with Peter Brant and White Birch, or St. Elias partnering with Albaugh and Railbirds and, elsewhere, with Mike Repole. This diversifies risk and enables bidding on individuals no single party could secure alone. Economically, the sale shows a healthy market. Total receipts north of $450 million mark the highest ever for the September sale. The record 56 million-dollar yearlings across the first three books clearly evidences that capital for elite stock is available. Nonetheless, an RNA near 30% and the gap between average and median, an average inflated by top prices, indicate the breeding “middle class” needs solid product to find higher prices. Market globalization, with buyers from 25 countries, offers breeders outlets to new clients and entry into other markets. Looking to 2026 and beyond, the success of the yearlings bought this year on the track will determine whether the bubble expands or stabilizes. If Flightline’s first runners confirm the sire’s talent, we could see a jump for his yearlings in the 2026–2027 sales. Should Not This Time continue producing graded winners, his fee and yearling prices will adjust accordingly. The quality of mares and breeders’ capacity to invest in top-tier genetics will remain decisive. In an increasingly sophisticated, demanding market, where genetic information, biomechanical and phenotypic evaluation, and data science play growing roles, Keeneland September will remain the showcase where the future of the North American Thoroughbred industry is projected.