Attorney Michael de Broglio on: South Africa, Law, Politics, Attorneys, Sport, Photography, Technology, Gadgets, Media, Crime, Road Accidents Fund,
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It is early days yet, but two horses that I bred, are currently high enough on the July Handicap log to run in the race this year. One is a filly of Sabina Park by the name of Sabina’s Dynasty as well as a child of Festive Occasion (who some of my staff went to watch at Turffontein run many years ago and has subsequently died) called Made to Conquer. I don’t own either of the horses anymore, I sold the vast majority of my 30+ horses during a sale in September 2017, because quite frankly they reached a stage where they were losing money every single month, but I did breed them and every time they win I obviously get a mention as the breeder. To me, it gives me a lot of pride to have bred them as well as knowing how good their mothers were – Festive Occasion has after all already produced Do you Remember, who came third in the July Handicap and is currently pregnant by American Pharaoh, the last winner of America’s Triple Crown, in Kentucky USA. Sabina Park of course produced Master Sabina who won two consecutive Summer Cups and has subsequently retired from racing. It shows me again that what I believe in works, and that is that top mothers produce top children. Yes, I sent the mothers to the best sires (or fathers) out there, but it is the mothers who did the best on the racetrack who have continually produced for me the best children. When I send average mares to top sires, I get average foals, so to me its more about the mother. I don’t know whether the new owners of either of the two horses will elect to run in the July, but it is likely that at least one of them will run in the July and it is quite possible that I will have bred two of this year’s July Handicap runners. The July Handicap will be run on Saturday, 6 July.
Lastly, why did I sell? Horseracing in South Africa is spectacularly unprofitable. It did not use to be as bad as it is now, but honestly, even if I kept these two wonderful horses as well as all the other horses I sold last year and they ran first and second in the July, I would still be racing at a loss. Horses cost a fortune, trainers want R8,000 a month, then there are vets, transport fees, running in the race, etc, and it gets to a situation where your accountant will ask you every year as to why you are still keeping all your horses. The funny thing is I was always considered a “lucky owner” and well, as a lucky owner, I can tell you I was losing money. I can only imagine how bad it has been for unlucky owners and the biggest problem is that the prize money in South Africa is way too low. You have horses that cost R2 or R3 million that are racing to win R60,000 and when you come third in the July Handicap, as Do You Remember did, you only win R330,000. That sounds like a lot of money, but compared to the value of the horses and what they would be worth overseas and what they are racing for in countries like Australia, that is a pitiful amount of money. First prize in the Kentucky Derby for example would be closer to R20 million and the horse coming third will get the equivalent of R5 million, not R330,000.
Posted by Michael de Broglio on Tuesday 12-Jun-18
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Comments
Joyce said:
on Friday 27-Jul-18 04:46 PM
I think watching horses run it’s interesting, I enjoyed when we went and watch horses run at Turfontein, it was an amazing experience and a privilege to be there.
Cornelie said:
on Thursday 05-Jul-18 09:15 AM
Is it even worth it then to have horses running if it cost you more than the winnings and if they don't win the loss is even bigger.
Liz said:
on Thursday 05-Jul-18 08:55 AM
This is a very interesting blog and has taught me a few things about horseracing I did not know. I was always under the impression that horseracing was very profitable.
Helen said:
on Monday 02-Jul-18 09:09 AM
It was very interesting blog to read for me, and I always wanted from very small age to work with horses. Also I will also agree that this kind of business takes time and financial investments, if you also do not have great team working with horses then rather not too waist time breeding them.
Sinead said:
on Monday 25-Jun-18 10:17 AM
Every time I visit Blair Atholl I see some horses there. They are such beautiful and majestic animals. Even on the road back home, I don't see it often - but a horse being transported. It's not something you see everyday.
I didn't know how much goes into looking after and training horses the way you mentioned above, and it does sound a bit disheartening to know that you invest so much and get so little back...
Ashleigh said:
on Friday 22-Jun-18 09:26 AM
Horses are magnificent animals that is very expensive to maintain and I can imagine that these races don't just benefit the person but it benefits the upkeep needs of the horses.
Daniella said:
on Wednesday 20-Jun-18 08:57 AM
Maintaining and looking after a horse is no easy job! Also it really is so expensive. However I feel as though if your horse is winning races and bringing in money it's totally worth it.
Tamaryn said:
on Tuesday 19-Jun-18 04:20 PM
Sometimes you can look at something and not be able to attach a price to it, I think it is like that with horses. But when it comes making a sport or a profit out of horseracing or breeding then I think one will have to weigh up actual profits v actual losses and decide whether it is worthwhile. I'm happy to enjoy their beauty and majesty.
Nicolle said:
on Monday 18-Jun-18 03:01 PM
Every young boy and girl or girl/boy / boy/girl who has ever been a child, has wanted a horse, or a pony, or a horse! Oh My! But, the reality of the matter is, as you have mentioned, horse are an expensive hobby, one which the majority cannot afford.
Well done on the good breading of the horses, you have assisted to create a solid linage for the future.
Michelle said:
on Monday 18-Jun-18 02:52 PM
This surely was a very interesting blog to read. Especially to see the costs of owning and maintaining a race horse. It is heartbroken to realize you spent so much money and when you expect to get some money back its only a drop in the ocean. I think if you can afford it, this would be the perfect hobby but you can not do it just to make money.
patrick said:
on Monday 18-Jun-18 02:46 PM
This article ties very well with an article above on statistics. As indicated "good mothers produce goods offsprings".
Megan said:
on Monday 18-Jun-18 08:47 AM
I personally am not really into horse racing, it is quite expensive to maintain I'm sure, I don't know enough to comment really. I do however think the guests who attend the Durban July dress exquisitely for this event.
Prishani said:
on Friday 15-Jun-18 04:49 PM
This is an interesting blog! I always supposed that horse racing was profitable, it is interesting to get an insider view on the whole game of horse racing and the realities horse owners face.
Thabitha said:
on Friday 15-Jun-18 09:14 AM
I must say it is not cheap to own horses, your horses will always carry your name even if they are no longer yours which is a good thing.
Shristi said:
on Thursday 14-Jun-18 04:36 PM
I have to admit that I do love horse racing! Coming from a family that has been involved in racing for years you do come to learn how expensive it is to breed and maintain these horses.
The Durban July is a great event. I do recommend to those who have not been to it previously to go!
Alexis said:
on Thursday 14-Jun-18 03:46 PM
I couldn't imagine having horses would be cheap, but it must be nice to see them possibly competing this year...hope that they do very well as even though they are not yours anymore - it must still be nice to see
Jadine Richards said:
on Thursday 14-Jun-18 02:07 PM
The costs of being an owner of a race horse has never really crossed my mind. It sounds like crazy money. I suppose if you are passionate about it, it makes up for running in the red but my goodness! It is still a lot of money.
Angelique Jurgens said:
on Wednesday 13-Jun-18 01:36 PM
I can only imagine all the costs of owning a racing horse, sounds like quite an extreme financial burden only for those without financial burdens. It sounds more like it should be for people who love the sport and enjoy it for nothing more than the excitement and not the money. A luxury afforded to only the super-rich minority.
I can imagine how incredible the winning feeling must be and the actual event is also quite exciting - remembering the great time spent at an event.
Mathilda Du Preez said:
on Wednesday 13-Jun-18 10:23 AM
It was so much fun when we all went to watch the horse racing at Turffontein
I really enjoyed it
Unfortunately I do not have much luck with betting on Horses
courtney said:
on Tuesday 12-Jun-18 02:31 PM
I absolutely love horse riding. When I was younger my dreams always were to do horse racing. I love watching the races every year but would love to experience it life one day.
Michelle D said:
on Tuesday 12-Jun-18 01:31 PM
I've never particularly enjoyed watching horse racing but I think physically attending a horse racing event would be an amazing experience. America is a first world country where a large portion of people have the extra money to squander on sporting events such as the Kentucky Derby. But in SA, where most of the population can barely afford to feed themselves, I think spending money on events such as the Durban July is a luxury only a small minority can afford.
Fikile said:
on Tuesday 12-Jun-18 11:49 AM
Horse racing is one sports i don't understand and i did try to play it and when i lost, i told my self that i'll never play again but for my dad it's more done playing a game it is something that is giving him money and he would sometimes win, now he doesn't play or watch it anymore
Clare said:
on Tuesday 12-Jun-18 08:57 AM
The Durban July is a great sporting event and I can't wait looking at these once wild creates with such speed and stamina rushing into this race to win. With the people wearing such fun and exciting hats.
Jessica said:
on Tuesday 12-Jun-18 08:19 AM
To own and breed horses within SA is certainly for the love of it - My Dad does it and has been with same trainer for several years, Brian Wiid. He recently bred a filly by the name of 'Emily - Jay' and we are most proud of her recent performances, but yes it is not a lucrative industry any longer within the Country.
The Durban July is always a great sporting event and I am looking forward to a great race this year!
brumilde said:
on Tuesday 12-Jun-18 07:41 AM
I love the Durban July, and it is an honor to know that the Director of the firm i work for has runners in it. My hopes are on Dynasty. Shows you that you need top breeders and a clean blood line. And good trainers on your side. I can agree the profit in horses is not there. It is an expensive hobby (for some it is not a hobby) and at some point you need the measure the income and outcome and determine if you need to continue.
david said:
on Tuesday 12-Jun-18 07:12 AM
i know the difference in prize money is massive, but america is a country with a huge population, consequently they have more people going to the races and betting. more punters & money = bigger pot. what might be interesting would be to send one of your champions to the USA and see how they fare there...
Johannesburg based attorney specializing in personal injury matters including Road Accident Fund claims and medical negligence matters. My interests include golf, reading and the internet and the way it is constantly developing. I have a passion for life and a desire for less stress!