Are They Crazy

[CryingForTheHorses]

Just read in the Miami Herald sports section that the guys who own California Chrome have turned dow 6 million for a 51% interest in the colt..My goodness anything can happen to these horses at any time.Also says they are just harding working guys..6 milion is a lot of money..They better hope he wins!!..Good luck to them.

[bks]

As long as he doesn't die (which I trust they have him insured for), he's probably worth a couple-few million already as a SA Derby winner. They also already have more than a million in the bank, so it's not as difficult o understand (for me) as it might first seem.

[Mineshaft]

Just read in the Miami Herald sports section that the guys who own California Chrome have turned dow 6 million for a 51% interest in the colt..My goodness anything can happen to these horses at any time.Also says they are just harding working guys..6 milion is a lot of money..They better hope he wins!!..Good luck to them.




Agree 100%

[dannyhill]

What if he is worth 200 million already. Certainly not life changing in anyway.
It is all relative to one's situation and dreams.

[nearco]

As long as he doesn't die (which I trust they have him insured for), he's probably worth a couple-few million already as a SA Derby winner. They also already have more than a million in the bank, so it's not as difficult o understand (for me) as it might first seem.

If he doesn't win another race, he is not worth $12m. He doesn't have a particularly exciting pedigree.

I'll Have Another won two legs of the Triple Crown, and he was sold to Japan because offers from US stud farms didn't break the 7 figure mark.

Now, if he wins all before him and becomes the next Secretariat, then it was worth holding out.

[Mystic]

If he doesn't win another race, he is not worth $12m. He doesn't have a particularly exciting pedigree.

I'll Have Another won two legs of the Triple Crown, and he was sold to Japan because offers from US stud farms didn't break the 7 figure mark.

Now, if he wins all before him and becomes the next Secretariat, then it was worth holding out.

The odds of that are like slim to none.

[johnhannibalsmith]

If they turn down anywhere near that much for 49%, then I probably think them crazy, but that meager two percent difference is pretty big to someone with a dream.

[Clocker]

He doesn't have a particularly exciting pedigree.



The understatement of the day. They paid $8000 for the dam and a $2000 stud fee. Story here. (http://www.harrisfarms.com/images/pdfs/2014/SICaliforniaChrome.pdf)

[PaceAdvantage]

I probably would have taken $6M for 51%...but that's just me... :lol: :lol: :lol:

[TJDave]

Just read in the Miami Herald sports section that the guys who own California Chrome have turned dow 6 million for a 51% interest in the colt.

This was back before the SA derby.

http://bleacherreport.com/articles/2046272-from-dark-horse-to-derby-favorite-the-unlikely-story-of-california-chrome

Gotta love this story. Also wounded warrior stables and Uncle Sigh.

CC and Uncle Sigh exacta.

Why not? :ThmbUp:

[Fingal]

I think back to when Harry Aelo was asked when he was going to sell Lost In The Fog, & he answered (to paraphrase) Why would I sell the horse ? Then I have the money but no horse.

[Saratoga_Mike]

Just read in the Miami Herald sports section that the guys who own California Chrome have turned dow 6 million for a 51% interest in the colt..My goodness anything can happen to these horses at any time.Also says they are just harding working guys..6 milion is a lot of money..They better hope he wins!!..Good luck to them.

He could win the Derby and he still might not be worth $12 mm as a stallion (just isn't bred that well). Insanity. Maybe they think he can win the Triple Crown! Doubtful.

[SandyW]

Would you sell 51% of your child ?

That is how these owner feel about this horse even if he did not win another race.

[Saratoga_Mike]

Would you sell 51% of your child ?

That is how these owner feel about this horse even if he did not win another race.

Hah. If they thought the horse wouldn't win another race, they'd sell all of him for $6 mm in a heartbeat.

[Hambletonian]

But you jus have to take that deal if you are in the racing biz. How much was this horse worth six months ago? I am guessing not $12 million.

You would still own nearly half, and you would have six million win or lose.

Say the horse goes on to earn $40 million in earnings and stud fees...

You would still have around $25 million plus. Is that less than $40 million, sure it is less, but is better than a couple of million, which is what this horse may be worth tomorrow.

[Stillriledup]

I probably would have taken $6M for 51%...but that's just me... :lol: :lol: :lol:

Its everyone. Well, except them.

Perfect example of people who get too personal with a horse and aren't able to judge the situation with an unbiased view.

[Clocker]

Perfect example of people who get too personal with a horse and aren't able to judge the situation with an unbiased view.

But that's why they bought the dam for $8000 against the advice of everyone else in the world. Every once in a while you hit a long shot.

[Saratoga_Mike]

But that's why they bought the dam for $8000 against the advice of everyone else in the world. Every once in a while you hit a long shot.

A potential $8k mistake vs a potential $6 mm one.

[johnhannibalsmith]

Damn owners and trainers just look at poor horses as commodities... until they don't... then they are just crazy... :lol:

[dannyhill]

A potential $8k mistake vs a potential $6 mm one.
Why is it a mistake if owning a Derby winning horse is more important to you than having $6 million more?
It's a mistake that in no way will change his life financially.

[Saratoga_Mike]

Why is it a mistake if owning a Derby winning horse is more important to you than having $6 million more?
It's a mistake that in no way will change his life financially.

I saw a piece on one of the owners yesterday, and they said he didn't have deep pockets. I thought that was correct. If he's wealthy, I agree with you.

[Clocker]

One story said that they were recently offered $750K for the dam, with a bonus of $250K for every Triple Crown race that Chrome won. They turned that down too.

The dam has produced two full sisters to Chrome, and it was not clear from the article, but it appears that these two guys still own those fillies.

I'd bet Lucky Pulpit's stud fee is a bit more than $2500 these days.

[Clocker]

I saw a piece on one of the owners yesterday, and they said he didn't have deep pockets. I thought that was correct. If he's wealthy, I agree with you.

Their pockets just got a little deeper.

Martin is more pragmatic. "First of all, this means a lot to Art," said Martin. "But I also think people are low-balling us just to do a deal with two guys who supposedly don't have any money. At least I keep hearing that's what we are." (Both owners placed Derby future-book bets on California Chrome: Coburn got $1,000 down at 200-1 in January, the same month that Martin's daughter, Kelly, 26, made a trip to Las Vegas with friends and made a total of $500 in bets at odds ranging from 175-1 to 275-1.)

[stuball]

I think they really feel for the horse and 51% mean you lose control
the 51% can do what they want and I would feel the same win or lose
the horse got the where they are today and they owe him the best....

[Dark Horse]

I probably would have taken $6M for 51%...but that's just me... :lol: :lol: :lol:

Those guys are getting up in age. There's no way they'll find another horse to have this much fun with. I bet you they would have taken $5M for 49%, without the controlling interest.

[Saratoga_Mike]

Their pockets just got a little deeper.

Yes, the one owner now seems to consider himself the country's foremost bloodstock agent, kind of laughable. Has he heard of luck and lots of it? Art Sherman comes across well, though, so I'm happy for him.

[Clocker]

Yes, the one owner now seems to consider himself the country's foremost bloodstock agent,

When you get your 15 minutes of fame, you got to milk it for all it's worth. :p

[Saratoga_Mike]

When you get your 15 minutes of fame, you got to milk it for all it's worth. :p

Normally I like when the little guy wins (e.g., Funny Cide's owners), but he's a little too much for me....and 15-minutes of fame, won't there be more? You're ready to induct the horse into the Hall of Fame, no? :)

[BettinBilly]

Its everyone. Well, except them.

Perfect example of people who get too personal with a horse and aren't able to judge the situation with an unbiased view.

Perhaps.

I'd have to view it strictly as a business decision at that level. As Pace said, in our paradigms, we'd take that deal. In theirs, they sat on ownership. May come back to haunt them later, and maybe not.

Well, as my father used to say, "A million here, and a million there and pretty soon you're talkin' real money!"
:)

[clocker7]

Figure out their downside in life, and you will see that they weren't that crazy.

Now, the Social Inclusion connections ... that's a different matter, maybe.