Moose
Well-known member
http://www.sportsbusinessdaily.com/...0/31/In-Depth/Owners.aspx?hl=mike repole&sc=0
Good article about the future of horse racing and profiles Repole along with Bobby Flay and Under Armour founder Kevin Plank as a new breed of horse owners that racing hasn't seen in years.
Interesting Repole quotes-
Repole said there's a '100 percent chance that he will own a piece of an MLB, NHL, NFL or NBA franchise in the next several years. Also said he's been approached by as we know the Mets along with Nets, Islanders, 76ers, Bobcats and even a 1% share in the Yankees.
Repole said he’s been shocked watching other wealthy people who get into horse racing by spending millions on horses and then taking a very hands-off approach.
“If everyone ran their businesses the way they run their horse racing businesses, they would never have been successful and they probably would have been out of business,” Repole said. “I just think that some owners come in with a fistful of money and think they are just going to win graded races like it’s so easy, and it’s not.”
It wasn’t until about three years ago that Repole felt he thoroughly understood and loved the business of being a horse owner enough to really dive in. He started spending hundreds of thousands on racehorses and hired the leading trainer in purse earnings in North America, Todd Pletcher, to train them. Pletcher, in an email, said that Repole’s hands-on personality, as well as his business plan for buying 1-year-old and 2-year-old horses, is different than most owners for whom he’s worked.
“He sticks closely to his budget and doesn’t stray too much, and this has worked well for him,” Pletcher wrote.
Repole’s plan is to buy 20 to 25 horses a year, every year, for the next few decades. “I can’t ever say never, but I never spent more than $500,000 on a horse,” Repole said. “I go to sales and I see horses that sell for $1 million, $1.5 million, $2 million. … There are a lot of owners who spend two times or five times or 10 times what I spend and aren’t having the same success.”
Repole said he likes to spend between $200,000 and $500,000 on a horse. Uncle Mo cost $220,000 and Stay Thirsty cost $500,000.
As of mid-October, Repole Stables led all thoroughbred horse owners in North America for graded stakes wins.
While he’s enjoying his investment in horse racing, Repole said that buying at least a piece of a U.S. team sports franchise “is on my bucket list.” Although he’s a rabid Mets fan, Repole would not say which sport he might invest in.
Good article about the future of horse racing and profiles Repole along with Bobby Flay and Under Armour founder Kevin Plank as a new breed of horse owners that racing hasn't seen in years.
Interesting Repole quotes-
Repole said there's a '100 percent chance that he will own a piece of an MLB, NHL, NFL or NBA franchise in the next several years. Also said he's been approached by as we know the Mets along with Nets, Islanders, 76ers, Bobcats and even a 1% share in the Yankees.
Repole said he’s been shocked watching other wealthy people who get into horse racing by spending millions on horses and then taking a very hands-off approach.
“If everyone ran their businesses the way they run their horse racing businesses, they would never have been successful and they probably would have been out of business,” Repole said. “I just think that some owners come in with a fistful of money and think they are just going to win graded races like it’s so easy, and it’s not.”
It wasn’t until about three years ago that Repole felt he thoroughly understood and loved the business of being a horse owner enough to really dive in. He started spending hundreds of thousands on racehorses and hired the leading trainer in purse earnings in North America, Todd Pletcher, to train them. Pletcher, in an email, said that Repole’s hands-on personality, as well as his business plan for buying 1-year-old and 2-year-old horses, is different than most owners for whom he’s worked.
“He sticks closely to his budget and doesn’t stray too much, and this has worked well for him,” Pletcher wrote.
Repole’s plan is to buy 20 to 25 horses a year, every year, for the next few decades. “I can’t ever say never, but I never spent more than $500,000 on a horse,” Repole said. “I go to sales and I see horses that sell for $1 million, $1.5 million, $2 million. … There are a lot of owners who spend two times or five times or 10 times what I spend and aren’t having the same success.”
Repole said he likes to spend between $200,000 and $500,000 on a horse. Uncle Mo cost $220,000 and Stay Thirsty cost $500,000.
As of mid-October, Repole Stables led all thoroughbred horse owners in North America for graded stakes wins.
While he’s enjoying his investment in horse racing, Repole said that buying at least a piece of a U.S. team sports franchise “is on my bucket list.” Although he’s a rabid Mets fan, Repole would not say which sport he might invest in.