As Commissioner of Racing, and as someone who, foolishly, was the leading buyer at Saratoga’s Fasig sale, I’m not surprised by this year’s record sale number.
Here’s the simplest, most accurate reason why: GREED.
Definition??? A selfish and excessive desire for more (money) than is needed.
In business terms, it’s supply and demand, and under the Jockey Club’s watch, supply has been gutted.
For over 20 years, while claiming to act for the “betterment” of the sport, they’ve mismanaged it into the ground. The foal crop has dropped from 50,000 to less than 20,000. The top stallions now make up 20% of that crop.
The result??? An overpriced, exclusive game where the rich get richer and the middle and lower markets die.
That’s why we have:
• Fewer tracks
• Fewer owners
• Fewer trainers
• Fewer horseplayers
• Declining handle
• Fewer fans
Yet the leadership fools see record prices at the top and think the sport is thriving. It’s not. It’s dying.
I’m Mike from Queens - son of a waiter and a seamstress - who worked hard, stayed true to my roots, and became successful thanks to family, friends, and God. I will always be that Mike.
The blue blood old guard controlling this sport??? They’re the only ones making money. The Jockey Club and their Stewards will have their best year ever……..again.
Why would they want change???Where’s their fiduciary duty to make the game better for everyone, not just the elite???
We now have no middle or lower market. State-bred programs are dead. Tracks are struggling. Bettors are getting screwed at every turn.
The Jockey Club forces HISA down everyone’s throat with an astronomical budget that’s neither efficient nor sustainable, and then takes a victory lap.
I believe we need HISA, but at half its current budget. And why do both the Jockey Club and Breeders’ Cup have outstanding loans for millions of dollars to HISA??? That’s owners’ and breeders’ money. What right did they have to loan our money???
Yes, HISA has lowered fatalities (a trend already in motion pre-HISA), but by fewer than 70 horses per year.
Meanwhile, what has the Jockey Club done for the thousands of thoroughbreds ending up in kill pens or shipped to Mexico for slaughter???
Aftercare remains shamefully underfunded.
Eight months ago, I gave the Jockey Club a funding model that would generate $15–20 million annually in new funding for aftercare. Six months of hard work, meetings, and preparation…completely ignored.
They’re too busy making “profits” for their “nonprofit” club.
They own far too many industry businesses, creating massive conflicts of interest and strangling the sport’s growth. They hoard and sell the industry’s data while every other industry shares it for free. Greed.
I plan on aggressively challenging the workings and inner dealings of their secret club.
Mike from Queens vs. the Jockey Club and their Stewards.
Who are you betting on???