Frank ain't VISA, not by any stretch

[Grits]

and Steve Crist knows it. I've always had great respect for this journalist/publisher. He knows this sport backwards and forwards and he raises some extremely valid questions here. This shouldn't be buried in the Florida Derby thread.

One can think of about 5.5 milion reasons that LaPenta would choose to wait for the Preakness. Winning the Derby and all its accolades is one thing, but 5.5 mil is another. Hope Dialed In doesn't develop a cough, or spike a fever a day or two before the Derby. It's mighty tempting.

Of course, we can thank Frank, once again, team player that he is!!!

http://www.drf.com/news/preakness-55-doesnt-fix-big-issue

It is difficult to believe anyone at MID set out to disrupt the Triple Crown, racing’s signature event, but just as difficult to see much benefit from this bonus.

“The purpose of this grand prize,” said Frank Stronach, MID chairman, “is to provide a spectacular event for the fans and to create a potential life-changing experience for the stakeholders of the racing industry.

The Preakness, however, already provides more than enough spectacle and life-changing possibilities. The presence of the Derby winner, who has contested the race in all but one of the last 25 years, accomplishes that all by itself. The quest for a Triple Crown, which has gone unclaimed for 32 years, will be the compelling storyline, not whether a Derby-skipper or also-ran can earn an extra $5 million.

[point given]

Already posted in the Florida Derby thread.

[cj]

This is much bigger than the Florida Derby alone. It could get lost there.

[Grits]

Already posted in the Florida Derby thread.

I understand, yes, its buried there, but this is not a subject that has an effect on only the Florida Derby.

[point given]

[QUOTE=Grits]I understand, yes, its buried there, byut this is not a subject that has an effect on only the Florida Derby.[/QUOTE


Yes, lets let it breathe. Wouldn't it be something if Pegasus won the Santa Anita Derby and there were 2 going for the 5.5 mil Preakness bonus too while the Derby winner who might not be either one t , but trying for a triple crown run would be runnng for a mere $ 600k. ? In any case if the above happens, and one of the bonus babies wins then the Derby winner would most likely skip the Belmont along with the bonus babies thereby relegating the Belmont to a G3 stakes event. Maybe NYRA will jump in and do a Gotham, Wood, Belmont next year.

[boogazie]

I can think of 50 million reasons why Dialed In would be ready for the Kentucky Derby. Unless he's suddenly gelded, I don't think you have to worry about him showing up.

[cj]

I won't pretend to follow stallions much, but is winning the Derby really worth that much any longer? Have any of the Derby winners of the last decade had much success?

[depalma113]

[QUOTE=Grits]I understand, yes, its buried there, byut this is not a subject that has an effect on only the Florida Derby.[/QUOTE


Yes, lets let it breathe. Wouldn't it be something if Pegasus won the Santa Anita Derby and there were 2 going for the 5.5 mil Preakness bonus too while the Derby winner who might not be either one t , but trying for a triple crown run would be runnng for a mere $ 600k. ? In any case if the above happens, and one of the bonus babies wins then the Derby winner would most likely skip the Belmont along with the bonus babies thereby relegating the Belmont to a G3 stakes event. Maybe NYRA will jump in and do a Gotham, Wood, Belmont next year.

I don't see the problem with this at all. Every horse in the Kentucky Derby field had an opportunity to earn a shot at the bonus in the Preakness. The connections of many will have chosen not to go for it by not running their horses at either Gulfstream or Santa Anita. That's their loss. This isn't an after the fact bonus that was announced after the Florida Derby. It was available from day one.

In 2004, Smarty Jones ran for a purse of 5.8 million dollars in the derby, the rest ran for $800k. Like the owner of Oaklawn, Stronach wants horses to run at his tracks. Maybe he should have added the Kentucky Derby as part of it, but than again, maybe Churchill Downs should be offering part of the bonus too.

[point given]

Shades of Spend A Buck , from Wiki

"
Earlier in the season, Spend A Buck had won two races at the newly reopened Garden State Park Racetrack (/wiki/Garden_State_Park_Racetrack) in Cherry Hill (/wiki/Cherry_Hill,_New_Jersey), NJ (/wiki/New_Jersey): the Cherry Hill Mile on April 6, and the Garden State Stakes on April 20. Before the season had begun, Garden State Park owner Robert Brennan (/wiki/Robert_Brennan) had put up a $2 million bonus to the horse that could win the two April prep races, the Kentucky Derby, and the May 27 Jersey Derby (/wiki/Jersey_Derby), Garden State's signature race.

Spend A Buck owner Dennis Diaz opted to skip the Preakness Stakes (/wiki/Preakness_Stakes) and the Belmont Stakes (/wiki/Belmont_Stakes), and thus trade Spend A Buck's chance to win the Triple Crown (/wiki/Triple_Crown_of_Thoroughbred_Racing) for a shot at the bonus. Cordero, Spend A Buck's regular jockey, was committed to another race that day, so Hall of Fame jockey Laffit Pincay Jr. (/wiki/Laffit_Pincay,_Jr.) was to ride Spend A Buck at Garden State. Spend A Buck won the Jersey Derby by a neck over eventual Belmont winner Creme Fraiche (/wiki/Creme_Fraiche_(horse)), capturing a $2.6 million prize, the largest single purse in American racing history. That record stood for 19 years, until Smarty Jones (/wiki/Smarty_Jones) won the 2004 Kentucky Derby and a bonus inspired by Brennan's.

Due to Spend A Buck skipping the last two legs of the Triple Crown, the Triple Crown races immediately put up a bonus of their own, to prevent that from ever happening again. "

[Cholly]

I won't pretend to follow stallions much, but is winning the Derby really worth that much any longer? Have any of the Derby winners of the last decade had much success?

You don’t have to be a bloodstock agent to know the answer to the second question is “Not so much”. As to Question #1, ignore anything that might happen after May 21, and consider a prospective sire with Grade I wins in the Fla. Derby and Preakness, with Grand-sires A. P. Indy and Storm Cat. I’m skeptical that a win in the Ky. Derby adds all that much to his value. The people who have that kind of money will fix his value related to the chances of his success as a Sire, and they to will all-to-well remember how it’s worked out for Smarty Jones.

I’ve never had the pleasure to meet the man personally, but the public persona of Nick Zito is that he’d sell his mother for a win in the Ky. Derby—so Dialed In will probably be there. But I know what I’d do if I owned the horse. Test Uncle Mo racing on his preferred schedule, or try him when he’s forced to come back on two weeks rest? Try to weave through/circle nineteen horses, or attempt that maneuver in a much smaller field. Take a short chance at $1.2M, or a much-enhanced shot at $5.5M?

[Shelby]

Where is all this extra bonus money coming from?

[Saratoga_Mike]

If Dialed In is healthy, there is NO chance (ZERO) that LaPenta, his owner, opts to skip the KY Derby to increase his chances of winning the Preakness and the bonus money. My guess is LaPenta is worth at least $400 mm, probably more. He amassed his wealth by co-founding L-3 Communications--his stake in that company was worth approximatley $280 mm when he was last required to disclose his holdings. He's also the chairman and CEO of L-1 Identity Solutions, and I believe he runs (or has a large interest in) an investment fund (I think it's called L-1 Investments). This guy wants to win the Derby, not pick up an extra $5.5 mm.

[Cholly]

Where is all this extra bonus money coming from?

Out of the pockets of the people whom Stronach owed money to before "Mr. Free Enterprise" hid behind bankruptcy protection.

[Phantombridgejumpe]

Brennan was a person with high moral standards and...oh, hold that thought.

[Cholly]

If Dialed In is healthy, there is NO chance (ZERO) that LaPenta, his owner, opts to skip the KY Derby to increase his chances of winning the Preakness and the bonus money. My guess is LaPenta is worth at least $400 mm, probably more. He amassed his wealth by co-founding L-3 Communications--his stake in that company was worth approximatley $280 mm when he was last required to disclose his holdings. He's also the chairman and CEO of L-1 Identity Solutions, and I believe he runs (or has a large interest in) an investment fund (I think it's called L-1 Investments). This guy wants to win the Derby, not pick up an extra $5.5 mm.

Most people who’ve accumulated huge sums don’t get to that perch by having a cavalier attitude about money, especially if you’re talking 5.5 million.

But in the case of Mr. La Penta, I’ll go with your analysis and guess that for him winning the KY Derby is the be-all and end-all. The past few years he’s certainly bought horses as though he’s determined to use up some of his wealth having sport. Good for him, if he’s enjoying it.

I still think Dialed In’s best shot to win any Triple Crown race is to go to the Preakness fresh. And if Zito thinks seven weeks is too long to be off, he could get Gulfstream to write an allowance race for him (just kidding!)

[Saratoga_Mike]

Most people who’ve accumulated huge sums don’t get to that perch by having a cavalier attitude about money, especially if you’re talking 5.5 million.

But in the case of Mr. La Penta, I’ll go with your analysis and guess that for him winning the KY Derby is the be-all and end-all. The past few years he’s certainly bought horses as though he’s determined to use up some of his wealth having sport. Good for him, if he’s enjoying it.

I still think Dialed In’s best shot to win any Triple Crown race is to go to the Preakness fresh. And if Zito thinks seven weeks is too long to be off, he could get Gulfstream to write an allowance race for him (just kidding!)

If this were a pure business transaction and LaPenta was trying to buy a small defense electronics business to fold into L-3 (his old company), I would agree with you (i.e., he'd seek out the best deal possible). He has a reputation for being a very savvy businessman, all the way back to his days at Loral in the 70s. But this isn't pure business. This is about a dream, and he's spent a lot to fulfill that dream, as you pointed out. Again, there's no way he passes up the Derby to increase his chances of picking up the Preakness bonus. In general, self-made wealthy men (and women) are very careful with their money, as you said, except when they get the Derby bug.

Look at Seth Klarman. He's one of the most well respected deep value investors in country, yet he probably loses money hand over fist most years on horses. My bet is he wouldn't overpay for a stock or bond by 10 cents, but a horse is different. All about the dream!