Arkansas owners in sport for the fun
HOT SPRINGS — Racehorse owners typically offer the same advice, perhaps stated best by Kentucky thoroughbred owner-breeder Barry Irwin.
“Don’t get involved with horse racing unless you love the sport,” Irwin told CNBC in 2010. “The chances of losing are 90 percent.”
At least three Arkansas owners with racehorses stabled at Oaklawn Park understand, including two car dealers from Little Rock.
“If you want to be a millionaire in the horse business, start with $5 million,” Steve Landers said. “Two years later, you’ll be a millionaire.”
Brad Cox trained Landers’ Illusion Artist to a win in Oaklawn’s 2017 Carousel Stakes, and Dazzling Gem to third in the 2016 Louisiana
Derby, fourth in the Arkansas Derby, and within three Roadto-the-Derby points of a start in the Kentucky Derby. Cox and Landers combined again for Landers’ first Grade I win with Leofric in the Clark Handicap at Churchill Downs in Louisville, Ky., on Nov. 23.
“I have a very smart financial adviser who works for me, and he has checked me into mental institutions to find out what’s wrong with my mind,” said Frank Fletcher, whose horses have raced for total lifetime earnings of $3,593,063. “Horse racing is just something for fun, because you certainly don’t go into this business to make money.”
Retired payday lender Dwight Pruett of Texarkana owns colt Gray Attempt, trained by Jinks Fires and currently listed as the 5-2 favorite in Friday’s opening-day $150,000 Smarty Jones Stakes. Fires trained Pruett’s Discreetness to a Smarty Jones win in 2016.
After Gray Attempt won the $75,000 Sugar Bowl Stakes at Fair Grounds in New Orleans on Dec. 22, Pruett said other owners offered to buy his colt.
“When I got into this business, I didn’t think I’d make a bunch of money, which I haven’t,” Pruett said. “I got into it for the fun, so when those offers started coming, I was like, ‘Well, you know, what are you going to do with money?’ I’m going to just spend it anyway, so I said, ‘You know what, let’s just keep him and keep having fun.’ ”
Cox, fourth among Oaklawn trainers with 27 wins last season, said Landers’ assessment of not building wealth off of racehorse ownership is likely correct.
“I think Steve got that just about right,” he said.
Fletcher said the primary source for his fun originates at Oaklawn.
“I don’t hunt, and I don’t go fishing,” Fletcher said. “This is my time away from work.”
When owners’ horses win, they get the bonus of a photograph from the winner’s circle with the horse and its connections to share with friends.
“When we’re at Oaklawn, we try to get as many people in the picture as we can,” Landers said. “That’s a lot of fun for the people we know.”
Pruett said the high point for him came from Discreetness’ Smarty Jones win. Fletcher said his came from Son of Rocket’s third-place finish in the 2001 Arkansas Derby.
“We’ve won some big races around the country, but races at Oaklawn mean more to me,” Fletcher said. “When you do well at Oaklawn, it’s just a thrill to be over there with so many people you know. That’s what makes it fun.”
Landers said he always has derived joy from competition, first from selling cars and now from the horses he entrusts to Cox.
“I’ve grown up in the auto business, and I have competed at high levels across the U.S. in the car business,” Landers said. “I’m kind of retired now, and this allows me to compete at high levels, in some cases, in the horse business. That’s why I like to do it.
“I had a friend of mine tell me one day, ‘It’s not Christmas every day.’ I say that a lot now, because you might win a big one and get really excited, and then the next day takes you the other way. It’s a real treacherous slope you’re on.”
Fletcher said he warned Landers from the start.
“Steve got into this a few years ago, and I said, ‘Do you understand this is a money-losing deal?’ ’’ Fletcher said. “He said, ‘Yeah, I understand.’ ’’