Because of the combination of his racing prowess and sterling pedigree, Forbes estimates that Justify could command a $100,000 stud fee once he retires from racing and starts his breeding career. There’s a fantastic aura about this horse. His stud fees started at $200,000 per cover, the equestrian term for a live breeding, before his fee became private. Coolmore America announced the 2019 stud fees for their Ashford Stud stallions Sunday, including the first-year fee for 2018 Triple Crown winner Justify. “There are just a handful of stallions that stand for $100,000 or more: Tapit at $300,000, Medaglia d’Oro at $250,000, Curlin at $150,000, Pioneer of the Nile at $110,000. You may opt-out by. Why Triple Crown Winner Justify’s Stud Fees Will … (A representative for Coolmore did not reply to Forbes' requests for comment.). On Saturday evening at Belmont Park, Justify took 2 minutes, 28 seconds and 18th tenths of a second to cross the finish line ahead of the field. Justify's retirement from the sport of horse racing left much to be desired. His stud fee has been set at $150,000. I don’t think we’ll ever see it again.”, Relive each leg of Justify's Triple Crown win | NBC SportsRewatch each of Justify's victories in the Kentucky Derby, Preakness Stakes and Belmont Stakes that earned him the Triple Crown. Relive each leg of Justify's Triple Crown win | NBC Sports, Rewatch each of Justify's victories in the Kentucky Derby, Preakness Stakes and Belmont Stakes that earned him the Triple Crown. Which is why once Justify hangs up his racing hooves and goes to stud, his life will be dictated by one very simple motto: “You breed the best, to the best, and hope for the best.”. The Triple Crown is a powerful bargaining chip in the market for putting a horse out to stud. According to BloodHorse, Justify’s advertised stud fee is $150,000. Before coming to Forbes, Maggie worked with TODAY show financial editor Jean Chatzky. “Secretariat was such a masculine, imposing equine specimen. He has speed, quickness, great ability, and he has soundness,” Taylor says. Coolmore Australia have announced the fees for their 2019 stallion roster, which includes US Triple Crown winner Justify among a trio of new recruits. That’s it,” he says. A full book of mares has been finalized for breeding with Justify in Kentucky and then Australia for Coolmore’s Southern hemisphere base later this year. We believe strongly in Justify as a stallion, and the ownership group has retained breeding rights. Justify’s first foals were born this year, with one in-foal mare selling for $3.2 million. At an average price of $150,000 per foal, the return on investment is promising. Maggie McGrath is an associate editor at Forbes and the editor of ForbesWomen, the Forbes vertical dedicated to covering all angles of female entrepreneurship. “He is able to pass along his elite genes at a much higher rate than your average stallion would be able to do,” Tapp says. On the breeding market, however, their fortunes have drastically flipped: Smarty Jones stands for just $7,500 at Calumet Farm while Tapit is the most valuable (and arguably best) sire in North America, standing at Gainesway Farm for $300,000 — the highest stud fee in North America. All Rights Reserved, This is a BETA experience. Justify’s former exercise rider, Humberto Gomez, marvels at how the 2018 Triple Crown winner has calmed down and taken to the farm life. Top bloodstock and breeding experts agree with Tugel’s assessment — and some take an even more bullish stance. “The Triple Crown is the Holy Grail of racing, and it had been 37 years before American Pharoah. American Pharoah recently was represented by his first Grade 1 winner in Harvey's Lil Goil. We get offers on our best horses all the time, and to my knowledge, there has not been a deal done.” (A representative for Coolmore did not reply to Forbes' requests for comment. “As you can imagine, this is a bittersweet moment for all of us connected to this special horse, who gave us the ultimate thrill of a lifetime. Ian Tapp, who runs sales and bloodstock development at Gainesway, says that Tapit has earned his fee over time. Coolmore Stud had already negotiated for a $60 million deal, but Justify's Triple Crown win was worth a $15 million bonus, turning the breeding fee into a record breaker. It's estimated that 2015 Triple Crown winner American Pharoah commanded $20 million in stud fees in 2016 alone. Taylor, for his part, is counting his blessings: Because Chrome raced beyond his 3-year-old season and even won the Dubai World Cup in 2016, he’s been able to list Chrome for twice the fee he could have gotten if he’d retired in 2014. Justify carries the top price at $150,000. But in the end, the Triple Crown winner's value as a stallion was too great to risk another race. He was scratched from that year’s Belmont and ended up finishing ninth in his last-ever race, the 2004 Pennsylvania Derby. Ashford raised fees on only two stallions: Uncle Mo and Munnings. Consider the twin examples of Smarty Jones and Tapit. Tapit raced alongside him in the Derby but finished ninth. Tugel denies this, telling Forbes, “no deal has been reached. “For Justify to have come and do it the way he did it, it was incredible. LEXINGTON, Ky. — Triple Crown winner Justify’s first foal was born Friday in Kentucky, the horse’s owners said. The first year after winning the Triple Crown, American Pharoah commanded a $200,000 stud fee in the United States. Now he's a valuable asset as a stud and has attracted a boatload of high-quality mares. Triple Crown winner Justify will stand for $150,000 during his first breeding season at Ashford Stud in Versailles, Ky., Coolmore America announced Sept. 23. The Triple Crown is a powerful bargaining chip in the market for putting a horse out to stud. If there are few guarantees in racing, there are even fewer in breeding. Trainer Bob Baffert walks Kentucky Derby winner Justify in the barn after the horse arrived at Pimlico Race Course for the upcoming Preakness Stakes. His wire-to-wire victory also keeps his unbeaten streak alive, a 6-0 record that’s all the more impressive considering he did not race as a 2-year-old. Justify, Triple Crown Winner: Stud Fees, Latest on Bob Baffert’s Horse, Copyright © 2021 Heavy, Inc. All rights reserved. (Photo by Michael Reaves/Getty Images). “He started racing in April of his 2-year-old year, and he ran all the way through his 5-year-old year. California Chrome, the beloved “People’s Horse” that ran for (and lost) the Triple Crown in 2014, offers another useful anecdote about how Justify can obtain (or maintain) a healthy stud fee: keep racing. Justify just proved he’s the best 3-year-old this year, so with any luck, the best is yet to come. His legacy may not change — American Pharoah will always be the Triple Crown winner who broke the 37-year drought, even though he lost the Travers Stakes to Keen Ice in Saratoga that year — but his value very well could. I write about women who run companies, countries and currencies. Chrome stands for $40,000 at Taylor Made Stallions, a shorter price than might be expected for such a beloved horse. Coolmore bought the breeding rights to American Pharoah from his owner Ahmed Zayat before any of his Triple Crown wins for $10 million. But because pedigree is paramount — and despite a promising mare bloodline, Chrome’s sire bloodline is less than fantastic — and because Taylor CEO Duncan Taylor doesn’t want to set the price so high that the owners of good mares will stay away, it will stay at $40,000 for the time being. California Chrome, the beloved “People’s Horse” that ran for (and lost) the Triple Crown in 2014, offers another useful anecdote about how Justify can obtain (or maintain) a … The 3-year-old thoroughbred is now just the 13th ever to win the Triple Crown. But one thing all horsemen agree on is this: Success on the race track does not guarantee success as a stallion. Fellow Triple Crown champ American Pharoah also calls Ashford Stud home during the northern hemisphere’s breeding season. On Saturday evening at Belmont Park, Justify took 2 minutes, 28 seconds and 18th tenths of a second to cross the finish line ahead of the field. Triple Crown winners also traditionally generate huge sums in stud fees. But gradually, his runners started winning. How much is a stud fee for a Kentucky Derby winner? How much is a stud fee for a Triple Crown winner? Justify won just the 13th Triple Crown in racing history. This horse is the same. The horse has not been sold. If the three-year-old went on to win the the Triple Crown, the fee for his breeding rights would jump to $75 million. With this in mind, Clark cautions that $75,000 might be a more reasonable fee for Justify (a price that, with 150 mares per season over four seasons, would give him a $45 million value). Because of the combination of his racing prowess and sterling pedigree, “He’s definitely between $75,000 and $100,000 regardless of how he finishes on Saturday,” Sean Tugel, WinStar’s director of bloodstock services and assistant racing manager, told, Demand is already high: It was reported in May that Coolmore, the farm that owns American Pharoah, acquired Justify’s breeding rights for $60 million. On Saturday Justify made his … The Kentucky Derby Winners And Stud Fees | CNBC. The highest stud fee currently belongs to Tapit, whose owners charge $300,000 for his services. Justify makes his historic run for the Triple Crown at the 2018 Belmont Stakes in Elmont, New York. © 2021 Forbes Media LLC. “After much deliberation with all the partners, we’ve decided to accept Coolmore’s offer to stand Justify,” said Elliott Walden, president, CEO, and racing manager of WinStar Farm. Fellow Triple Crown hero Justify, who stood 2020 for $150,000, has had his fee trimmed to $125,000. There have only been 13 Triple Crown winners in the history of horse racing. Last month Forbes estimated that once retired, Justify could demand an initial $100,000 stud fee – giving him a $60 million value based solely on … Justify, ridden by jockey Mike Smith, leading the field to the finish line to win the 150th running... [+] of the Belmont Stakes on June 9. It also helps that Gainesway limits the number of mares Tapit books to just 125. Justify can expect to become the most beloved four-legged athlete in America, and more importantly for his owners, he is also poised to become one of the most valuable stallions in North America. His legacy may not change — American Pharoah will always be the Triple Crown winner who broke the 37-year drought, even though he lost the Travers Stakes to Keen Ice in Saratoga that year — but his value very well could. (Photo by Michael Reaves/Getty Images). His fellow Triple Crown club member, 2018 champion Justify, had his fee reduced from $150,000 to $125,000. WinStar Farm sets 2020 stud fees WinStar Farm has set 2020 stud fees for its 21-stallion roster, headed by perennial leading sire More Than Ready who will stand for an unchanged fee of $80,000 S&N this upcoming breeding season. And the last 2-year-old in training sales purchase to win the Derby was 2016 winner Nyquist, who was sold for $400,000 at the Fasig-Tipton March sale. “He reminds me of Secretariat,” says Mike Ryan, a breeder, owner and bloodstock agent who helped breed 2017 Kentucky Derby winner Always Dreaming and had an ownership stake in Good Magic, Justify’s stiffest competition in this year’s Derby and Preakness. The Triple Crown-winning duo of American Pharoah and Justify will once again headline the stallion roster at Coolmore's Ashford Stud in Versailles, Ky., … Last year, Justify was never beaten while racing six times at four tracks over a span of four months. She loves. “We’re ensuring that the market isn’t going to be flooded by Tapit offspring. Trainer Bob Baffert has developed two of them since 2015. Justify, who joined Ashford Stud after his Belmont Stakes Presented by NYRA Bets (G1) victory sealed the 2018 Triple Crown, will stand for an unchanged fee of $150,000 … In the upcoming years, expect to be reminded of his greatness through his children potentially dominating future events. The 2014 Kentucky Derby and Preakness Stakes winner California Chrome, whose first youngsters were born in 2018, began his stud career with a $40,000 fee. Unlike Justify, who retired as a 3-year-old after going undefeated in six starts, California Chrome left the track as a 6-year-old with 27 starts and 16 wins and earnings of nearly $15 million. “He’s definitely between $75,000 and $100,000 regardless of how he finishes on Saturday,” Sean Tugel, WinStar’s director of bloodstock services and assistant racing manager, told Forbes in an interview before the race. (Photo by Rob Carr/Getty Images), The tales of Tapit and California Chrome prove that, like any commodity driven by market forces, a horse’s fortune can change over time. She's worked at Forbes since 2013 and in that time has written on everything from the student debt crisis to Triple Crown-contending (and winning) horses. Today his progeny have earned more than $122 million in racing earnings, and he’s responsible for three of the last four Belmont Stakes winners (Tonalist, Creator and Tapwrit). Justify has within his blood a bit of a trump card: his sire, Scat Daddy. I think if he stays healthy, [the Travers or Haskell is] a target,” he said. Katherine Terrell/ESPN In essence, Justify … “There’s still plenty more racing. With an average of 150 live … He’s now commanding a … Although Tapit never won the Triple Crown and did not win any of … Coolmore was happy to welcome this year’s Triple Crown winner after losing his sire Scat Daddy suddenly in 2015. A Kentucky Derby winner at this stage of the game, where he has the ability to still become a Triple Crown winner” fetches more, even if not as much as the fees hovering in … Formerly owned by WinStar Farm, Justify was sold to Coolmore America earlier that month to live his life at Ashford Stud. At that rate, the deal would be profitable in just two years. Horse racing, and breeding, is a business first and foremost, but its players will often admit that it’s an emotionally driven one. If American Pharoah’s post-Belmont life is any indication of what awaits the newly minted Triple Crown winner, there are more superlatives heading his way. of the Belmont Stakes on June 9. "It was one of the greatest earthly feelings, horse racing feelings I ever had when that horse was leading down the stretch. It was unbelievable," Kenny Troutt, the billionaire owner of WinStar Farm, which owns Justify, said during the trophy presentation Saturday. Tugel notes that horse racing’s season does not end with Belmont, and Justify could further justify a high stud fee by racing again this year. Tugel denies this, telling, California Chrome, the beloved “People’s Horse” that, The tales of Tapit and California Chrome prove that, like any commodity driven by market forces, a horse’s fortune can change over time. Before that, Triple Crown winner Justify brought $500,000 as a Keeneland September yearling. The Thoroughbred made his name on the track last season. That’s one stiff price. This gives him a $60 million value based on stud fees alone: If he books 150 mares per breeding season (a figure his ownership at WinStar says is reasonable) and maintains both his fee and activity level for four years, he’ll easily hit the $60 million mark. That Justify could carry Scat Daddy's genes forward could be a bigger boon to his breeding career than his Triple Crown victory will be. » Subscribe to NBC Sports: youtube.com/nbcsports » Watch Live Sports on NBCSports.com: nbcsports.com/live » Get more horse racing news on NBC Sports: nbcsports.com/horse-racing NBC Sports Group serves sports fans 24/7 with premier live events, insightful…2018-06-10T14:13:20.000Z, This accomplishment not only netted Baffert $3.12 million, but his former horse is a valuable commodity on the stud market. She loves a good Forbes list, having edited the 30 Under 30 Food & Drink and Hollywood lists, the Just 100, and the World's Most Powerful Women. We look forward to supporting him at Ashford Stud.”. American Pharoah is proof of this, too: Sources tell, “Top stud fees on average are at historic lows, although it never feels like that when the checks are written,” says, The Leukemia & Lymphoma Society BrandVoice, The 25 Most Innovative AgTech Startups In 2018, A New Frontier For Plant-Based Meat: Beyond Burger Will Hit Menus At A&W Canada, Why Pepsi CEO Indra Nooyi Loves 'Sex And The City', The Best Way To Bet $100 At The 2018 Belmont Stakes, World's Largest Food And Beverage Companies 2018: Anheuser-Busch, Nestle And Pepsi Top The List, The Largest Restaurant Companies In The World 2018: McDonald's And Starbucks At Top Of Food Chain, The Best Way To Bet $100 At The 2018 Preakness Stakes, ran for (and lost) the Triple Crown in 2014. American Pharoah is proof of this, too: Sources tell Forbes that Coolmore initially stood Pharoah for a $200,000 fee, but the market balked, and they had to readjust, offering two-for-one deals — wherein two mares could breed to him for $200,000 — that effectively dropped his fee to $100,000. As Robyn Murray, head of sales and marketing for Coolmore America, emphasized the magnitude of that accomplishment to ESPN on Friday. When they’re offered as yearlings, the yearling average for those Tapits will be higher as a result.” This strategy has paid off: In 2017, Tapit’s yearlings averaged a sale price $883,333. If Triple Crown hopeful Justify clinches the illustrious title next Saturday, experts say he could command $150,000 for a single roll in the hay. Take American Pharoah, who captured the first Triple Crown in 37 years when he won the Derby, the Preakness and the Belmont Stakes in 2015. “If he hadn’t raced as well as he did after we bought him, we would have stood him for $20,000.”, Jockey Mike Smith atop Justify after the Belmont Stakes. I think the demand for him will be sensational.”, Demand is already high: It was reported in May that Coolmore, the farm that owns American Pharoah, acquired Justify’s breeding rights for $60 million. In April of his 2-year-old year, so with any luck, the horse ’ breeding... To come has soundness, ” Murray said this year, 10 champions from around the and. Ryan thinks Justify could easily command a stud fee for 2018 Triple Crown winner Justify ’ s owners said ’! Tapit, whose owners charge $ 300,000 for his services to welcome this year ’ s a fantastic about... The thoroughbred Made his name on the race track does not guarantee Success as stallion. 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