MINEFIELD: Dubai-Bye..
 

Has this been brought up???

From Equidaily and the Schenectady Gazette...

Another promising 2YO ships off to Dubai: The Daily Gazette [Schenectady, NY] reported in its Sat edition that undefeated 2YO Minefield, who impressed winning his second start in a NW1 at Churchill in November, has been purchased by Godolphin. Trained by Todd Pletcher, he was previously owned by Don Lucarelli, Jack and Laurie Wolf of Starlight Stable, and Paul Saylor. Lucarelli said, "Since his last race, we've been contacted by various people offering us a lot of money for the horse, and we've refused a lot of them... We really didn't want to part with him, but from a business standpoint, this is something the partners felt we had to do."

note to self...get an ok 2 year old win a race ..sell out to the shieks..get rich..

So Goldolphine made them an offer they couldnt refuse.

Sounds like Worldy Manner again... must have been an obscene amount of money.

They shouldn't even waist their money at the sales anymore, they buy all the good ones once they race. It takes a brave person to not sell out..the money that they offer is ridiculous. They contacted the owners of the horse in my signature (Sir Greeley), and they wanted to rent him for one race in Dubai..CRAZY!

"Just how obscene an amount of cash are we talking about here? Profane or really offensive?"

Steve one of the owners is up here from Schenectady and rumors were flying around all weekend as to how much they got. Kinda like the game telephone where the original statement is completely different at the end of the game.
Supposedly an obscene amount of money.

Just ask "Roddy"!

Yeah.. Lucarelli grew up and is still friendly with Laurie Tessatore ("Beetlejuice"), the wife of my backyard Sunday buffet co-hort Donnie..

I was at Calder today and saw a $3.4 Million A.P. Indy Darley colt, Sahara Heat, run up the track. I made my way to the paddock before the race to see what $3.4 Mil looks like. It didn't look like all that much to be honest.

I have never met the guy, and don't know what he even looks like, just heard he was in construction business. I stop in Schenectady to meet a friend who works at GE down there for lunch once in a while and we have lunch at a place that shows the races(a bowling alley of all places) and all you ever hear about is this guy and his horses from everyone in the place. I hear he owns part of Octave as well.

Looked much worse if you included the horse in your pik-3 bets I assure you.

This is an entirely different environment than most people are used to or even understand. It's extremely difficult to put yourself in the sellers shoes. The "price" has to be at a level where these people, who normally aren't sellers, actually become sellers. Even though professionally I am in the financial services and wealth management industry, you have to not just count other people's money, but more so be able to put yourself in others' shoes and "honor" their money. That's a discussion for an entirely different time and place, LOL.

Anyway, you can look at a situation, for example, like Earle Mack and Electrocutionist. There are others as well. Eventually you get to a price point where regardless of how much money you have, you almost "have to sell" -- as hard as that may be to believe. The economics almost demand it. A Henny Huges at $4mm plus, an Electrocutionist at say $5m, a Discreet Cat at X millions, etc. There are certain economics that play out -- the opportunity cost, the cost of not selling, the risk management aspect, etc. These things also drive the marketplace out of "normalcy" and some feel into "lunacy". However, it's the people who are on the seller's side of the transaction that don't see it as "lunacy" -- I wonder why, LOL.

We see glimpses of this in the yearling sales and the two year old sales and it causes tremendous inefficiencies in the marketplace. Then comes a "correction", LOL.

Eric

Eric, didn't Mack sell him that other horse for crazy money a few years back as well?

Backyard buffet of yours? Boy, would I like to be hungry and on that buffet line. LOL.

Eric

..ask cannon shell about battle won...some times takeing the money is a smart thing...

This purchase will probably extend his career.

Over/Under on starts he makes next year is now 5.
I can see it now, he will run in what will forever be known as "the Discreet Cat" path. Dubai WC, an allowance, jerome, and Cigar.

Aside from Electrocutionist, yes, there was another one. I don't remember his name, what major race he had just won, etc. or any of the specifics for that matter. I know the agent in the deal and he told me very matter of factly. I don't by any means play in those leagues -- not in any way, shape or form. But even buying horses who make the races -- the amount of money being thrown around is enormous and it drives the market into territories and levels that in the long run will hurt.

Everyone wants to believe that "markets" are "efficient" so to speak. However, they are not. That is, in part, what creates opportunity within the marketplace.

Eric

Grand Hombre