Are homebreds a dying breed?

Stellar Run in 2021 Classics, but the pool of owner-breeders has grown thin

By Jeff Lowe

When Charlotte Weber settled into Ocala, Fla., in 1968 to launch a breeding establishment to fuel her fledgling racing stable, the blueprint was well-established across the major players of the game. In that era when names like Phipps, Rokeby and Whitney were synonymous with racing success, homebreds were the ticket to the winner’s circle. 

Weber put a different spin on her Live Oak Stud operation with the location in central Florida, which at that point was just beginning to creep into the racing landscape. Over the last 53 years, Live Oak has been a beacon in Ocala's expansion into a self-proclaimed perch as the "Horse Capital of the World"—in some ways as a sharp contrast to the two-year-old hub that has grown up around her now 4,500-acre property. Weber has maintained her focus on a breed-to-race model and built up a rich history of success, now with key bloodlines that have been cultivated over the course of several decades. Meanwhile, around the corner, across town and at places in between, a commercial marketplace has sprung up in Ocala and reshaped much of the racing world. 

Weber and her cousin, George Strawbridge—both heirs of the Campbell Soup Co.—have charted similar courses with their individual stables. Weber's Live Oak Plantation has laid claim to more than 30 graded stakes winners; and Strawbridge's Augustin Stable has accounted for three champions, a long list of top horses in Flat racing and the sole position as the all-time leading owner in the National Steeplechase Association. 

Breeding to race has been the standard for Weber and Strawbridge. With few exceptions, they are mostly alone in pursuing that model in 2021, even if homebreds have been on a tremendous kick in American racing this season. 

"It's like a lot of things in life today: I think people in racing are chasing lightning in a bottle," Weber said. "I can't really blame them. If you can buy a horse and get to the races quickly and are lucky enough to find some success, it makes a lot of sense. I can tell you that the economics are a whole lot different than when I got started in racing; it's very expensive, and I say that as someone who is fortunate to have a cushion but tries to be sensible. 

"For me, a homebred is closer to the heart because I've watched them since they have been born—seen them as they have grown up. I have more of an understanding of the horse than if I were to go buy a yearling or a two-year-old. And with some of these families I've had for so long, that lineage becomes something special. Like Win Approval [the dam of two Breeders' Cup Mile winners, Miesque's Approval and World Approval], she sits in a paddock out by my house, and I get to watch her all the time. That's just special." 

Ironically the biggest breed-to-race operation in America these days is not that long removed from a nearly ubiquitous presence in the commercial market as a leading buyer. Sheikh Mohammed bin Rashid al Maktoum has shifted much more to the breeding game in America over the last 15 years. With the banner of his Godolphin Racing stable flying high at the moment thanks to Essential Quality, the champion two-year-old male of 2020 has kept firing as a three-year-old including a classic victory in the Belmont Stakes, a few hours after the Godolphin homebred Althiqa captured the Gr. 1 Just a Game Stakes on the same card at Belmont. 

Michael Banahan with Delightful Quality - dam of Essential Quality

"That doesn't happen very often; I don't care who you are," said Michael Banahan, the director of farm operations for Godolphin USA. "For us in the states, it had been a long while since we had a classic win—going back to Bernardini in the Preakness [2006]. They don't run many classics, and they sure are hard to win. But it's funny—depending on what happens with the Kentucky Derby with the drug positive—if Mandaloun ends up being the winner, you'll have a sweep for the homebreds with Mandaloun, Rombauer in the Preakness and Essential Quality, not to mention Malathaat winning the Kentucky Oaks. Who knows when the last time that has happened?" 

Essential Quality is a legacy horse for the Jonabell Farm wing of Godolphin's breeding footprint in the U.S. Back in 2005, when U.S. Thoroughbred auctions were regularly seeing epic bidding duels between Sheikh Mohammed and the Coolmore associates, Sheikh Mohammed's representative acquired Essential Quality's second dam, Contrive, for $3 million at the Fasig-Tipton November sale.

"It was a bit of a slow burner," said Banahan, who has worked for Sheikh Mohammed's breeding entities in Europe and America for nearly 30 years. "Contrive was a Storm Cat mare—couldn't do much better than that back then—and she was the dam of Folklore, who had just won the Breeders' Cup Juvenile Fillies. It's a family that we've liked and developed over time at Jonabell, but it was several years before we got a proper graded stakes winner out of it with Essential Quality. You have to play the long game with those. A lot of times you don't get instant gratification."

CLICK HERE to return to issue contents or sign up below to read this article in full

Michael Cannon - Cannon Thoroughbreds

Michael Cannon (Cannon Thoroughbreds) - Smooth Like Strait

Michael Cannon, a multiple success in business, was in unfamiliar territory with his Thoroughbreds. “I was a failure,” he said. “I’m not lying. I was a complete failure. I took full responsibility. I bred Smooth Like Strait. Then he ran his first race and was a real disappointment. I told my wife he was our last chance of success. I was starting to undo Cannon Thoroughbreds. I spent a lot of money, and I got very little reward. You have to know in business when to pull the plug. I was looking to get out of the business.”

Fortunately for the Cannons, Smooth Like Strait didn’t take long to show his immense talent—taking Michael, Jennifer and their four children, Cole, Chloe, Camryn and Cooper on the ride of a lifetime. His last eight starts have been in graded stakes with four victories, two seconds, a third and a fourth against elite turf company. “He turned it around,” Cannon said. “We’re back and stronger than ever.”

Cannon has spent most of his adult life helping companies do exactly that: getting strong. The 52-year-old president and CEO of Cannon Nevada, a venture capital firm based in Henderson, has started or acquired 22 businesses. Zero have gone bankrupt. “I’m pretty good at cutting out the bull****, simplifying and getting down to making money,” he said. “So far, I’m always looking to share with others. I do like helping other people. It’s not all about the money. It’s really about success. I just keep trying new things. Some work, some don’t. I’m too dumb to quit. So I keep working. Fortunately, I’ve been more successful than not.”

His interest in horses came at an early age. “My dad loved racing, and my mom was from Nevada. I spent a lot of time in Nevada. I knew horses very well.”

His mother, however, didn’t let him pursue his interest in music or football. “I played trumpet, but she wouldn’t let me practice at home,” he said. “She also wouldn’t let me play football in high school. And I was fast.”

When he attended Alan Hancock Junior College in Santa Maria, Calif., he made the football team as a freshman and was a starter at wide receiver in his second season. “I was the only white receiver—a white kid with red hair—with really talented African Americans from inner cities,” he said. “They came from rough neighborhoods. I didn’t even know how to put the pads on. They taught me everything. These guys became good friends.”

Following junior college, Cannon received a bachelor of science degree from Boston University’s School of Management, an advanced certificate in negotiation from Harvard University and an advanced certificate in mergers and acquisition from UCLA.

He had an incredible experience in 1988 while doing an internship in London. He even had tea with Diana, Princess of Wales. “There was a new American Institute of Foreign Studies, and about six of us out of 300 were allowed to meet her,” he said. “I had to take two days of classes for protocol. They take that protocol very seriously. Just learning how to shake hands took an hour. You can’t squeeze her hand. When she finally showed up, she couldn’t have been any nicer. She was prettier in person than she was in pictures. She didn’t give a damn about all that protocol. She grabbed my hand and seized it.” 

While in college, he bought his first horse—a $1,000 weanling named Achillean Spirit. “He ran at Golden Gate and tracks in Utah and Nevada and was very successful on that small circuit: Beaver City, Utah, and Ely and Elko, Nevada,” Cannon said.

Then he began syndicating horses as Sport of Kings Syndication. He did that for three years and took a hiatus from horse racing to focus on his rapidly advancing business career. He founded and led Warehouse Las Vegas, Accurate Courier and 4Wall Entertainment before founding Cannon Nevada in 2018.

Eight years earlier, he had reconnected with Thoroughbreds, posting minimal success. He purchased Smooth Like Straight’s granddam, Beautiful Lil. She produced Smooth Like Straight’s dam, Smooth as Usual. He raced her, sold her and got her back after her racing career ended in a sale at Keeneland. She began Cannon’s small broodmare band, based at Columbiana Farm in Kentucky.

Early reports on Smooth Like Strait were incredibly positive from day one. He shared this story with Christine Oser in her October, 22, 2020, story in The Blood-Horse: “The minute he was born, Homer Rader at Columbiana said, `You know what? You’ve got a good one.’ And that’s literally within 24 hours of him being born. I sent him away to be trained at Bill Wofford’s Rimroc Farm in Kentucky. He breaks them and gets them prepped for training, and then he called me up and said, `Smooth Like Strait—this horse is going to win you a graded stakes race.’ I’d never heard that before.”

Then Smooth Like Strait, who is trained by Mike McCarthy, made a dreadful debut, finishing ninth by 20 lengths at Del Mar on August 17, 2019. That abysmal performance was on dirt, and once Smooth Like Strait switched to grass, he became a star—flashing seven victories, three seconds and a pair of thirds in 14 starts while earning more than $900,000.

He could have won a lot more, narrowly missing his first three starts in Gr. 1 stakes. He finished second by a head in the Hollywood Derby, second by a neck in the Francis Kilroe Stakes and third by a neck in the Turf Classic at Churchill Downs. “When you’re coming from nothing, and you’re losing Gr. 1’s by a neck, we were proud as hell. Just to be in a graded stakes was terrific,” Cannon said.

Then Smooth Like Strait broke through, winning the Gr. 1 Shoemaker Mile by a length and a half on May 31. That prompted Cannon to conclude, “I’ve come a long way since 1991 in Beaver City, Utah.”

From the ground up - Preakness Stakes winning trainer Michael McCarthy worked his way into the training ranks, forming a solid foundation of success along the way.

By Annie Lambert

Trainer Michael McCarthy felt an immediate connection to the racing industry after attending the races with a few high school buddies. Following graduation, he found his way to the backside, working a variety of jobs while attending college at night. His most prominent employment was spending more than a decade as assistant to Todd Pletcher, a seven-time Eclipse Award winning Trainer of the Year.

McCarthy, now 50, attained his trainer’s license in 2006 and began training his own stable of horses in 2014. Since then, the Southern California-based horseman has saddled 1,063 starters with 174 wins, 138 seconds and 172 thirds, earning $18,083,294—including multiple graded stakes.

Pletcher once called his former protégé “reliable, confident and capable.” McCarthy has also proven himself to be responsible and patient with perseverance.

• Racing intrigue

At the age of six, McCarthy moved to Arcadia, Calif., with his family. The family home was near enough to Santa Anita to hear the races being called. Although McCarthy’s parents were not horse racing enthusiasts, he became smitten by the industry. His father, a high-end office furniture dealer (now semi- retired), was always a big sports fan—“a basketball, football kind of guy,” who was not initially into racing but now closely follows his son’s career. Young McCarthy’s first job at Santa Anita was working for trainer John O’Hara. He was at the track during the day and attending his freshman year at Cal Poly Pomona with night classes in animal husbandry. He also worked for veterinarian Dr. Wade Byrd and got handy with a stopwatch with help from Santa Anita clocker Gary Young.

Michael with Proud Accolade at Hollywood Park, 2004.

In about 1994, McCarthy had the opportunity to spend four months at a training center in Japan as well as several months at The National Stud in England. He worked as an intern in a variety of jobs, including breeding to training aspects of the racing business. While still in college, McCarthy soaked up experience working for trainer Doug Peterson and was an assistant at Santa Anita for Ben Cecil.

• Upward mobility

Working for Cecil was his final job prior to heading east to work for Todd Pletcher. Jockey agent Ron Anderson negotiated a meeting between McCarthy and Pletcher, who was looking for an assistant trainer to replace George Weaver who was leaving to start his own public stable. After some phone calls back and forth, McCarthy headed to Belmont Park in July of 2002 for an introduction of sorts. He began his new job on August 25, 2002—a date he has no trouble recalling.

Michael with Friendly Island after winning the Palos Verdes Handicap at Santa Anita Park, 2007.

“Moving east was certainly an adjustment period,” McCarthy admitted. “But when you’re young and single, it’s easy to do.” There was a learning curve going to work in an expansive stable like Pletcher’s—a fast-moving organization with many horses and a lot of moving parts. McCarthy quickly caught up to speed, and by November of that year, he found himself traveling to Hong Kong with Texas Glitter.

Texas Glitter was a six-year-old when he headed to Southeast Asia with McCarthy. Their first stop was at California’s Hollywood Park, where the son of Glitterman won the Gr3 Hollywood Turf Express Handicap. Sixteen days later, the multiple graded stakes winner found no luck in the Gp1 Hong Kong Sprint at Sha Tin— the final race of his career. …

CLICK HERE to return to issue contents or sign up below to read this article in full

BUY THIS ISSUE IN PRINT OR DOWNLOAD

ISSUE 60 (PRINT)

$6.95

ISSUE (DIGITAL)

$3.99

WHY NOT SUBSCRIBE?

DON'T MISS OUT AND SUBSCRIBE TO RECEIVE THE NEXT FOUR ISSUES!

Four issue subscription - ONLY $24.95