Doug Cauthen Thoroughbred Management, LLC offers the following services:
Stallion Syndication/Management: Being a lawyer certainly helps when negotiating a deal, or creating a syndicate agreement that benefits the key stakeholders, but selection of the “right” horse is the key to having success in the stallion business. After that, mare recruitment and selection, and advertising can play a key role in successful stallion management. Additionally, always keeping your eye on driving the asset price upward to create selling opportunities can be very important when you are lucky enough to get the stallion that “hits.” Stallions are like a commodity, and have peaks and valleys in their value, so it’s important to sell in a peak time.
Dialed In :: Doug purchased Dialed in for a partnership that he created, and negotiated the deal to stand him at Darby Dan. He is a G1 winner of the Florida Derby, and was the favorite for the KY Derby. Doug is co-managing DIALED IN’s stud career with Darby Dan. DCTM bought and syndicated Dialed in, placing over 75% of the shares in hands of his clients. He is the leading freshman sire of 2016 as of November 25th, 2016.
More on Dialed In »
Fort Larned :: Doug is assisting the Whitham family with the future stallion career of Fort Larned. Several farms have already shown a lot of interest in Fort Larned, and while the Whithams’ want to enjoy the racing season, they understand the need to evaluate all options regarding his future stallion career. This Breeders’ Cup champion is at the top of his division and will be a force to be reckoned with in all the top races this summer. The ultimate goal is to attempt a repeat of the Breeders Cup Classic. Only one horse, TIZNOW, who Doug was also involved with, has accomplished a Breeders Cup classic double.
Harlan’s Holiday :: Harlan’s Holiday, who Doug helped move from Airdrie to WinStar farm after he started his management company, continues to impress. Shanghai Bobby won the Breeders’ Cup Juvenile, and went on to be named Champion 2YO of 2012. Harlan’s Holiday’s fee was increased from 25,000 to $35,000, thanks to the success of his runners this year, led by Shanghai Bobby. It was just 2 years ago that Doug negotiated the purchase and relocation of Harlan’s Holiday.
Shackleford :: Doug represented owners Mike Lauffer and Bill Cubbedge as they negotiated and drafted a deal with Darby Dan Farm to stand Classic winning Shackleford. Doug also assisted in drafting the Syndicate agreement, and continues to represent the original owners interests as Shackleford successfully launches his stud career.
Doug is also active in managing the stallion careers of American Lion and Colonel John. Colonel John was the leading first year sire, with an average of over 100,000. Doug’s client, Bill Casner, raced Colonel John to multiple G1 wins, including the Travers Stakes. Bill still owns a significant interest in Colonel John, and has bred about 14 mares to him each year that he’s been to stud.
Leading Sire Distorted Humor who has sired over 100 Stakes Winners
Broodmare Matings: The number one decision for mare owners is selection of the mares themselves, which are the “factory” for years to come. But the second most important decision is which stallion the mare will visit each year, with the stated intent of producing a superior athlete and a commercial yearling. This decision involves blending conformational pros and cons of the prospective parents, along with extensive pedigree research and analysis. You have to use all the available concrete information you can find, and then you still have to add some horsemanship and instinct to make the best decision possible within the budget for each mare. Doug has managed the matings of several Grade One winners, including Bluegrass Cat, Any Given Saturday, One Cool Cat, Da Tara, Sharp Lisa, Mona De Mama, Spring At Last, and Well Armed. He understands the commercial market, and keeps track of up-and-coming stallions, so you can catch the wave on the way up. Making the correct mating decision can make or break your mare and your business.
Sales Representation: Auctions are a key component of the industry, and are an opportunity to do a lot of shopping in one location. Mares, weanlings, yearlings, two-year-olds in training, and horses of racing age can all be found at auction. Doug has spent the last 20 years working auctions, evaluating horses of all categories and honing his skill at horse selection. For WinStar Farm, Doug bought at auction the dam of a Kentucky Derby winner Super Saver, Belmont winner Drosslemeyer, Grade One winner Haynesfield, Grade One winner Court Vision, Grade Two winner Doubles Partner and Grade Three winner and Derby prospect Endorsement, to name a few.
Private Purchases: A lot of business gets done at auctions, but you have to have a constant pulse on what might be buyable privately. The auctions only occur at specific dates on the calendar, and the other 80% of the time the private market is where transactions happen. Through a network of contacts and by researching what is happening on the racing front, top prospects can be found and purchased. Knowing how to appraise a horse privately is key to being successful in the private market – overpaying in a private market won’t lead to success. But finding a few gems throughout the year are key elements to building a quality broodmare portfolio. The dam of Grade One winner Bluegrass Cat was purchased privately before he was even conceived. The dam of Grade One winner Afleet Express was purchased privately also, when Afleet Express was just a two-year-old. Grade One winner Ipi Tombe was also purchased privately in partnership with Team Valor.
Program Management: Advising and managing the portfolio of equine assets that each particular client has, and helping build a program that fits that client’s goals is what Doug likes to do. This starts with a full evaluation of what is owned currently, and developing a culling standard and process, whether we are talking about broodmares or racehorses. You can’t keep them all, therefore it is important to create a strategy to control the numbers, and indirectly to control the costs. Maximazing your sales opportunities is also extremely important, whether the relevant decision involves determining which sale to enter your horse or what the correct reserve should be at auction. When you have a hot commodity, you need to get the maximum return possible.
Racehorse Management: Managing the asset of an actively running racehorse can be the most important and the most volatile part of any equine business plan. Having a plan for each horse’s campaign is critical to maximizing it’s potential. Values can shift dramatically based on the performance and pedigree of the horse, and being able to sell at peaks is a key to a successful business strategy. Cutting losses is also important, since training and board expenses continue to add up if you are indecisive when dealing with a depreciating asset. Knowing the potential upside AND the downside value of each horse is imperative. Also, knowing the available sale opportunities is a key to making smart decisions. Doug has been involved in making these tough decisions for over 20 years, and the sales prices have ranged from $5,000 to $40,000,000. He knows the market and how to manage your horses to maximize their return.
Please click on the links above to learn more about our services.
Please call our office if you require services, not on this list as we would be happy to either help you ourselves or point you in the right direction.