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Spendthrift’s Sharing the Upside with the Victorian Industry

Since setting up the Australian base of their global operation in the Macedon Ranges, Spendthrift’s commitment to the Victorian breeding industry has been unwavering.

General Manager, Garry Cuddy is passionate about supporting local breeders and, as seen at the recent Inglis Easter Sale, they are continuing to invest actively in future stallion prospects.

“(Spendthrift owner) Mr Hughes is a big believer in supporting those that support you,” Cuddy said.

“One of the ways we do this is instead of presenting yearlings at the sales under our own banner, we divide them out to those that have supported us with mares over the season.

“Mr Hughes may be seen as a big player, but he began small and understands that the way you get treated by the big farms is significant.

“He makes sure everybody can be a part of what we are trying to achieve, whether a hobby breeder with one mare or a farm with 20; everyone is treated the same, with equal importance,” Cuddy said.

Another way Spendthrift shows its commitment to mare owners around the world is through their two popular breeding programs –Share The Upside and Breed Secure.

“Share The Upside” is when mare owners earn a breeding right to a stallion for the remainder of his stud career.

“We have had a lot of success with this program in Kentucky, and we can boast that “Into Mischief” was one of the first stallions we offered in the “Share The Upside” program. He is now near the top of the US leading sires table with the best of them.”

“Breed Secure” is when your service fee is not payable until the foal sells at public auction and the service fee is only payable once the expense allocation is realised, which is $5000 as a weanling or $10,000 for a yearling.

“If they don’t cover those costs, then all shortcomings are forgiven. In Mr Hughes’ own words, ‘If a breeder is going to take a hit, then we will take the hit with you,’” Cuddy said.

“This demonstrates the confidence we have in our stallions, and when they deliver the results, there will be plenty of people who will come along with us for the ride.”

With the quality of their stallion roster increasing from year to year over their first three years in Victoria, this is not a bad approach.

Potentially the biggest find for early adopters of Spendthrift’s roster in Victoria is Jimmy Creed. Now among the top three second crop sires in North America with group winners and stakes performers galore, the son of Distorted Humor is in huge demand back home.

Spendthrift Australia’s Jimmy Creed

Off the back of a record-breaking Inglis Easter Sale, Spendthrift put their hand up for two of the most sort after colts in the catalogue as part of a future plan to increase the quality of stallions at its Victorian base.

“We were thrilled to secure the Snitzel out of Walk With Attitude for $1,55 million. With Snitzel being the sire of the moment, we had to dig deep, but at the end of the day he is the quality type you go to Easter to buy,” Cuddy said.

“Written Tycoon is the king of Victoria, but he is not getting any younger, so farms like us want to step into some nice sons. We paid $800,000 for the Maidel colt and if a racetrack success, he ticks a box for the future.”

Spendthrift’s decision to set up their operations in Victoria was due in part, to the lavish (now $24 million)VOBIS scheme.

“It really hit home with Mr Hughes, and we will continue to support TBV and VOBIS, the exciting Showdown, and the Owners and Breeders raceday, for years to come.”

At Caulfield on Saturday, will be the running of the inaugural Spendthrift Australia $310,000 VOBIS 3YO Sires race over a mile. The race is only open to Victorian sired three-year-olds and no doubt we will see some Spendthrift sired 3YOs in the race in coming years.

With VOBIS continuing to build momentum, and Spendthrifts growing commitment to the Victorian breeding and racing industry, we will all share in the upside.

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