Spendthrift Farm

Last updated
Spendthrift Farm
Type Horse breeding stud farm and
Thoroughbred racing stable
Industry Thoroughbred horse racing
Headquarters884 Iron Works Pike, Lexington, Kentucky
Key people
Website http://spendthriftfarm.com/

Spendthrift Farm is a thoroughbred race horse breeding farm and burial site in Lexington, Kentucky, currently owned by Eric & Tammy Gustavson. [1] It was founded by Leslie Combs II and named for the great stallion Spendthrift, who was owned by Combs' ancestor, Daniel Swigert of Elmendorf Farm. Spendthrift was the great-grandfather of Man o' War.

Contents

Although Spendthrift Farm is known mostly as a commercial breeding operation, they maintain a small racing stable as well. Their most notable runners are Beholder, a 4-time Eclipse Award winning mare, Lord Nelson, a three-time Gr.I winning sprinter, Court Vision, who won the Breeders' Cup Mile, Tamara, a Gr.1 winning daughter of Beholder and Bolt d'Oro [2]

History

Racing silks of Spendthrift Farm Owner Spendthrift Farm.svg
Racing silks of Spendthrift Farm

In 1966 Majestic Prince was foaled at Spendthrift, bred by Combs. The famous son of Raise A Native later was returned to the farms and died there in 1981. In 1979, the great Triple Crown winner Seattle Slew was retired to stud and stood at Spendthrift until 1987.

Spendthrift Farms went public in 1983. [3] In 1984 Queen Elizabeth II visited Spendthrift Farms to view not only Seattle Slew but also Affirmed as possible studs for her stable of Thoroughbreds containing 22 broodmares. [4]

In 1984 the Keeneland Association honored Spendthrift Farm with its Mark of Distinction for their contribution to Keeneland and the Thoroughbred industry. [5]

In 1988, Spendthrift Farms filed for bankruptcy. [6] The farm was acquired out of bankruptcy the next year by Terry McBrayer, Curtis C. Green, Henry "Cap" Hershey, and William du Pont III [7]

Spendthrift Farms was sold in a foreclosure auction to MetLife in 1993. [8] MetLife resold it to lawyer Ted Taylor the next year. [9] In 1995, Spendthrift Farm was the victor in a landmark case about separation of powers before the Supreme Court of the United States. In 2000, the farm was acquired by Bruce Klein. [10] In 2004, B. Wayne Hughes, the founder of Public Storage, purchased the historic farm.

In 2020, as part of an ownership group with MyRaceHorse Stable, Madaket Stables, and Starlight Racing, Spendthrift was named the leading owner for North American earnings due to a successful season for Authentic. [11]

Burial site

Along with being a breeding facility in the 1960s and 70's, several important racehorses are buried at the farm. These include, Nashua, Never Bend, Prince John, Raise A Native, Gallant Man, Caro, Majestic Prince, and Valdez.

Stallion roster

Their 2024 stallion roster and their stud fees are:

Plaut v. Spendthrift Farm

The 1995 United States Supreme Court case Plaut v. Spendthrift Farm, Inc. arose from a securities fraud lawsuit against the farm relating to its 1983 public offering of stock.

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References

Notes
  1. ↑ "2022 Brochure". Spendthrift - A Kentucky Thoroughbred Stallion Farm. Retrieved 2022-04-06.
  2. ↑ "Owner Statistics - Spendthrift Farm". www.equibase.com. Retrieved 24 June 2016.
  3. ↑ "Horse Farm To Go Public (Published 1983)". The New York Times. 29 September 1983. Archived from the original on 2016-03-05.
  4. ↑ Time Horsey Holiday for Her Majesty
  5. ↑ "Mark of Distinction" (PDF). Keeneland. 2013-03-20. Retrieved 2021-01-06.
  6. ↑ http://nl.newsbank.com/nl-search/we/Archives?p_product=LH&s_site=kentucky&p_multi=LH&p_theme=realcities&p_action=search&p_maxdocs=200&p_topdoc=1&p_text_direct-0=0EB73B21698028F0&p_field_direct-0=document_id&p_perpage=10&p_sort=YMD_date:D&s_trackval=GooglePM [ bare URL ]
  7. ↑ SPENDTHRIFT FARM ASSETS BOUGHT
  8. ↑ HORSE RACING; Horse Farm Sold at Auction
  9. ↑ Alabama Attorney Makes Top Spendthrift Farm Bid
  10. ↑ PARTNERS ANNOUNCED FOR SPENDTHRIFT FARM
  11. ↑ "Authentic's Owners, Asmussen, Ortiz Jr. on Top in 2020". bloodhorse.com. Retrieved 13 January 2021.
Further reading

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