Steve Coburn & Perry Martin

Long-time racing fans Perry Martin and Steve Coburn each owned a five percent share of an $8,000 mare named Love the Chase in a syndicate. When the syndicate dissolved, each wanted to buy the mare himself. Instead, they became partners. Someone suggested a name for their new stable. “A groom walked by and said, `Anybody who buys this horse is a dumb ass,’” Martin told Debbie Arrington in her April 4th, 2014, story in the Sacramento Bee. “Steve and I shook hands; we’re the Dumb Ass Partners.”

Indeed, their California Chrome races in purple and green silks featuring a caricature of a jackass. How dumb are Martin and Coburn? California Chrome was Love the Chase’s first foal. His dominating victories in the Grade 2 San Felipe and the Grade 1 Santa Anita Derby extended his all-stakes winning streak to four heading into the Grade I Kentucky Derby for 77-year-old trainer Art Sherman, who was the exercise rider for 1955 Santa Anita and Kentucky Derby winner Swaps. Like Swaps, California Chrome is a California-bred.

Unlike their trainer, Martin and Coburn don’t have historical ties to racing. Martin and his wife Denise own and operate Martin Testing Laboratories at the former McClellan Air Force Base in Sacramento. Martin Testing Laboratories is a commercial full-service independent lab offering contract research and development, product assurance testing and material assurance testing services.

Coburn works at a factory that makes magnetic strips for credit cards. His wife, Carolyn, recently retired. “We’re just everyday people,” Coburn told Arrington. “I’m up at 4:30 every morning and in bed by 10.” Martin said, “We’ve got two businesses to run; the horse is our third business. But we’re really happy and excited.”

And that was before the Kentucky Derby. 

California Chrome was born at Harris Farms in California. “He weighed 137 pounds when he was born,” Coburn said. “That’s big. We nicknamed him Junior. I told my wife when we saw this horse on the day after he was born, `We better hang on for this ride because it’s going to be a good one.’ He had no idea.

Calumet Farm

As Oxbow neared the finish line of the Preakness Stakes, Calumet Farm’s Manager Eddie Kane, watching the race at home with his wife and children, couldn’t believe it. “We didn’t envision it to happen so quickly,” he said. “People try all their lives and never accomplish this. Doing it under the Calumet Farm banner made it even better.”

Immediately, Kane was on the phone with his boss, Brad Kelley, the man who had taken the challenge of re-inventing one of the storied farms in racing history. “As soon as they hit the wire, I was on the phone with him,” Kane said. “He was pretty emotional. He said his mom and dad watched the race from his home. Mr. Kelley was the guy who ultimately picked Oxbow out at the sale.”

Understandably, the mood at Calumet Farm went off the charts following the Preakness. “Everybody was excited,” Kane said. “I think I was the only one of the farm who didn’t bet the horse. My money would stop a herd of buffalo.”

Fortunately, Kane and Kelley deal with Thoroughbreds.

Kane had worked for Will Farish for 20 years at Lanes End Farm before accepting a job with Kelley. “I wasn’t going to leave Lane’s End for any other job,” Kane said. “I had to know it was the right job. After talking to Mr. Kelley, he seemed like and is a very good guy to work for. He’s a regular guy.”

A very wealthy, regular guy. Kelley’s estimated net worth is reported to be $1.9 billion and he is also reportedly the fourth largest landowner in the United States. Kelley, 56, had already accomplished more than several men when he decided to buy Calumet in May, 2012, more than three years after Kelley hired Kane to help his breeding operation. “We never really started talking about Calumet until much later,” Kane said.

Now, thanks to Oxbow, people are talking about Calumet again. The farm is relevant again. Thanks to Kelley. “He’s got a pretty good vision,” Kane said. We’re starting to get stallions on the farm. We’re talking about what type of mares he wants. He knows what he wants to do, and he knows how to get it done. I’m just glad to be part of it.”