B. Wayne Hughes’ Spendthrift Farm will now be offering the “Breed Secure” program for nearly its entire roster of Kentucky-based stallions, effective immediately. The farm has launched a ‘Spring Break’ promotion in an effort to give commercial breeders relief on stud fee exposure through its Breed Secure program, which is an initiative Hughes says is here to stay at Spendthrift, and one that he believes should replace foal sharing ventures between the stallion owner and mare owner as the industry knows it.
“The bottom line is that breeders deserve a better deal,” said Hughes, who also started the popular “Share The Upside” movement back in 2009. “Our Share The Upside program has been a successful way to give breeders a real opportunity to benefit from the upside in the career of the stallion they wish to support, and makes it more of a fair partnership between the breeder and stallion owner who do business together on an unproven stallion. It’s been a very popular program, and we’re already seeing a successful scenario play out with Into Mischief, our first ever stallion in the program.
“Breed Secure is a program we also started last year with Into Mischief, and after seeing the positive effects we have decided to offer it almost across the board on our stallions,” Hughes added. “I believe it’s a far superior alternative to foal sharing, and maybe it will eventually replace foal sharing in the industry. Breed Secure allows commercial breeders to breed a mare to a stallion of their choice without having any risk as it relates to the stud fee. When that breeder goes to sale, if he or she doesn’t make a reasonable profit then not a dime of the stud fee will be owed to Spendthrift. Hopefully there is a tremendous profit made at sale, and when that happens, he or she would only be responsible for paying back the stud fee and not a dime more.”
Archarcharch, Dominus, Line of David, Notional, Paddy O’Prado, Temple City, Tiz Wonderful, Tizway, Warrior’s Reward and Wilburn are all offered in the Breed Secure program. After selecting the stallion of choice and getting a mare in foal, the breeder has the freedom to choose the sale and age of which to sell. The options for sale include selling the mare in foal at public auction, selling the resulting weanling at public auction, or selling the resulting yearling at public auction. Upon sale, the breeder gets the first proceeds up to $10,000 for an in-foal mare, $6,000 for a weanling, or $12,000 for a yearling. Any dollars after those amounts would go towards paying back the stud fee, and once the stud fee is paid back the breeder gets to keep the balance. Any shortcomings are completely forgiven if the sale doesn’t meet the minimum for Spendthrift to receive any proceeds, and Spendthrift is only entitled to receiving a maximum of the full amount of the stud fee and nothing more.
For more information on the Breed Secure program and how it could benefit your commercial breeding program, please contact Des Dempsey at 859-509-2106, Ken Wilkins at 859-699-4887 or Mark Toothaker at 859-421-0151.