Horse Racing News Update: MyRacehorse Secures Lucrative Stallion Deal for Preakness Winner Seize the Grey
In a significant development for the horse racing industry, the fractional ownership platform MyRacehorse has secured a stallion deal with Gainesway Farm for their Preakness Stakes winner Seize the Grey. The deal could potentially yield the racehorse’s 2,570 individual owners up to $13.5 million.
Ownership Details and Race Earnings
Under the terms of the agreement, MyRacehorse and its owners will retain 100 percent of the racing interest in the 3-year-old son of Arrogate, as well as 10 percent of the future stallion rights. Shareholders will continue to receive their pro-rata distributions from the colt’s race earnings and the proceeds generated from the stallion deal.
Purchased as an unraced yearling in 2022 for $300,000, Seize the Grey is trained by Hall of Fame conditioner D. Wayne Lukas. The talented colt has already won four races in his career, including the prestigious Grade 2 Pat Day Mile on the Kentucky Derby undercard, and has amassed over $1.8 million in career earnings.
Stallion Deal and Bonuses
Gainesway Farm, home to leading sire Tapit, has acquired a 90 percent stake in Seize the Grey‘s stallion rights. According to Gainesway’s general manager Brian Graves, the team is “excited to add Seize the Grey to our stallion roster” given Arrogate‘s reputation as a top sire and the colt’s impressive speed and good looks.
The base valuation for the stallion deal is set at $3.5 million, with a series of lucrative bonuses tied to future graded stakes victories by Seize the Grey, including $3 million for a Travers Stakes (G1) win, $4 million for a Breeders’ Cup Classic triumph, and $2 million for another Grade 1 victory.
Fractional Ownership and Future Potential
“Owning a racehorse is one of the biggest aspirations for racing fans, but the costs to own a horse outright are extremely high,” said MyRacehorse founder and CEO Michael Behrens. “Our idea was to use crowdfunding to allow anyone to become an owner, and Seize the Grey has been a dream come true for so many of his partners.”
According to Lukas, the promising colt may have his best performances still ahead. “He just keeps getting stronger and better, and I am expecting a big second half of the year,” the veteran trainer said. “I truly believe his best races are yet to come.”
With the lucrative stallion deal in place and the potential for further notable victories, the shareholders of Seize the Grey can look forward to a substantial financial windfall in addition to the thrill of owning a champion racehorse.
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