'Kia Did Not Blink': Amo Racing's £12 Million Spree

NEWMARKET, UK — As a statement of intent it was a pretty serious one. Ten yearlings bought and 11,045,000gns spent by Amo Racing while many at Park Paddocks were still finishing their lunch.

Amo principal Kia Joorabchian, amid an entourage which included Nottingham Forest FC owner Evangelos Marinakis and bloodstock agent Alex Elliott, would not be beaten on the day's leading lady, Newsells Park Stud's Frankel (GB) filly out of Aljazzi (GB) (Shamardal). The hammer eventually fell at 4,400,000gns – the second-highest price ever paid for a Book 1 yearling. Joorabchian faced determined opposition from Mitsu Nakauchida, but the Japanese trainer ultimately had to play the role of underbidder for lot 68, the second foal of her Group 2-winning dam.

And Amo still had plenty of ammo in reserve, for just four lots later Joorabchian was back, this time taking aim at another prized daughter of Frankel: Staffordstown's full-sister to the six-time Group 1 winner and Arc heroine Alpinista (GB). He made just one bid, at 2,500,000gns, but that was enough to add the bay filly to an increasingly tantalising list of future broodmare prospects.

The football agent and prominent racehorse owner initially referred journalists' enquiries to Elliott, but he was eventually cajoled into a few words on his explosive spending spree at Tattersalls.

“I don't do interviews,” he said with a grin. “We need strong-pedigreed fillies. We have a lot of horses going to stud in the next year. Bucanero Fuerte will end up at stud, I don't know this year or next year, and King of Steel will go to stud, I don't know this year or next year yet. Soon we will have to make a decision. We have Persian Force at stud and we just need to back them, otherwise we are just going to get left behind. The kind of investment we have made in the last few years, we are going to have to change a little bit and we have to back our stallions to have a chance at winning. It's very hard to buy those mares because the Juddmontes, Coolmores, Shadwells, all the big guys own all the big mares, so we have to come out here and hope that what we are buying in terms of pedigrees, like we did with the fillies in Keeneland. We went after fillies with strong pedigrees – and that's what we are trying to do.”

He continued, “It's very hard to buy them afterwards. Once they've won a Group 1 you're up in the eights, nines, tens of millions, so you've got to try to get them earlier and hope that in the next few years that these fillies will do well.”

Just for a little variety, the Amo team later added a colt by Frankel to the list of the day's purchases. Lot 85, a half-brother to the Group 3-placed Redressed (GB) (Le Havre {Ire}), whose dam Atone (GB) (Oasis Dream {GB}) is a sister to Juddmonte's multiple Group 1 winner Midday (GB), was bought from the draft of Baroda Stud for 1,100,000gns. 

“Frankel has had huge success and he just keeps on coming through,” Joorabchian added. “The Champion Stakes in Ireland was a real eye-opener when you looked at the card. There were five Frankels and one Too Darn Hot. You look at all the Frankels and what they're doing, and you just have to back him.”

Recounting the bidding duel for the top lot, Elliott said, “Kia and partners wanted the filly very badly – a Frankel filly from that family and with that physique, she was always going to be a collectors' item.

“But she is part of Team Amo now – wow. She is a spectacular filly, it is a spectacular price, a spectacular bunch of horses here. I'd like to say I was a cool customer when all that was taking place, but that would be a fib. I have never been in that rarified atmosphere before.”

He added, “It is great that she is staying here, it is great for British racing. To have two men say they are going to keep her here, it is huge kudos to them. Kia knows you have got to buy them at the top level to compete at the top level. All the teams select the best horse and it is who blinks first, and Kia did not blink – I think I did.”

Marinakis, who had also attended the Goffs London Sale with Joorabchian back in June, when asked if he was one of the partners behind Amo Racing's major outlay, replied, “No, I'm just here to enjoy the day.”

Amo Racing, the outright leading buyer so far during Book 1, accounted for almost a quarter of the day's turnover, which was in excess of 42 million gns. They also bought three yearlings in partnership with Al Shaqab Racing, while Kia's son Maxi Joorabchian co-signed with trainer George Scott for a colt by first-crop sire Lucky Vega (Ire) at 180,000gns.

Fireworks at #TattsOctober Book 1.@amoracingltd outbids Mitsu Nakauchida at 4,400,000gns for @newsellspark's Frankel filly out of the Gr.2 winner Aljazzi.

The second highest price for a yearling ever at the sale. pic.twitter.com/gQKiP64SgK

— Tattersalls (@Tattersalls1766) October 8, 2024

Park Paddocks Abuzz

It is hard to recall a stronger start to a sale than that witnessed at Tattersalls on Tuesday. The signs were there over the weekend, with plenty of consignors reporting strong footfall during inspections, despite the clash with the Arc meeting in Paris. A huge crowd doesn't always translate to bumper returns, however, but there was no sign of first-day jitters here. 

Those buying teams that have become the stalwarts of the scene: Godolphin, Juddmonte, Shadwell and Al Shaqab, have been joined in recent years by the dominant forces of Yulong and Amo Racing, who in turn have been met by emerging operations from Bahrain, Qatar and Saudi Arabia, such as Victorious Racing, Wathnan Racing and Salhia Stud. New money and old was in play at Book 1 – to an almost dizzying degree. 

This diverse participation coupled with a tightening of numbers to around 450 yearlings has contrived to send the Book 1 statistics through the roof. As an elite event, it is routinely a strong sale but the day 1 figures were up across the board. A clearance rate of 90% was derived from the sale of 117 yearlings for a total of 42,680,000gns, which was up by 36% on last year's opening day. The average rose by 48% to a record 364,786gns and the median by 27% to 260,000gns.

Eight individual buyers made an outlay into seven figures on Tuesday. American expenditure was also notable, with 12 different entities from the US signing for 15 yearlings, including Klaravich Stables, Mike Repole, David Ingordo and WinStar Farm.

Newsells Park Blazes a Trail

He is used to being in the top spot at this sale, but Newsells Park Stud's managing director Julian Dollar admitted that even he was taken aback at the price tag for Aljazzi's Frankel filly. Trained by Marco Botti to win the G2 Duke of Cambridge Stakes, G3 Atalanta and two Listed contests, the mare was offered by her breeders Saleh Al Homaizi and Imad Al Sagar at the Horses-in-Training Sale six years ago, where she was picked up by Newsells Park for 1,000,000gns. Tuesday's result has certainly repaid that investment, despite several visits to Frankel and his sire Galileo (Ire).

Dollar, casting his mind back to that purchase, said, “We'd had a good sale a few weeks before and I said to [former Newsells Park Stud owner] Andreas Jacobs that there's a filly in this sale that might just get missed because she should be in December. He was brave enough to let me go to a million for her, which was our absolute limit.”

He continued, “Her first [foal] by Galileo didn't quite meet expectations but this was always a stunning filly. I dreamt that if we were really lucky she might make a million and that would have been great, but that was unbelievable. It just shows that if you have two people who really want a filly what can happen. I've never had a horse vetted as much – she had 20 vets. Hopefully she's a good filly for Team Amo and I'm very grateful to Mitsu too.”

With seven yearlings sold for 6,895,000gns through the first day, Newsells Park Stud is leading the consignors' list.

Godolphin Lands Top-Priced Colt

Godolphin picked up the top-priced colt on the day, a No Nay Never half-brother to G2 Champagne Stakes winner Iberian (Ire) (Lope De Vega {Ire}), who was described by Ballylinch Stud's John O'Connor as the nicest horse the operation has ever brought to the sales. 

That big opinion was backed up by the price tag, with Anthony Stroud holding off stiff opposition from the Coolmore team to secure the colt on behalf of Godolphin for 2,200,000gns. 

“He was the one horse we really wanted today,” Stroud said, before commenting on the market. “There are a lot of people from all around the world here. It's good. It [the market] needs it.”

The No Nay Never colt is very much a Ballylinch Stud-nurtured family through and through. The granddam, Uncharted Haven (GB) (Turtle Island {Ire}), was bought by O'Connor for 320,000gns at the December Mares Sale in 2001 while the colt's dam, Bella Estrella (Ire) (High Chaparral {Ire}), carried the green and orange silks to Listed success when trained by Dermot Weld. 

O'Connor commented, “You never know quite what they will reach but I did expect that he would make a big price. I bought the granddam at the December Sale as a filly out of training. She comes from one of the original Ballylinch families from during the McCalmont times, so I was keen to get one back. It's been a very successful family for us and he [lot 92] was very typical of that family. I don't think I've ever brought a nicer colt to the sales. That is confirmed by our yearling manager at home, Ronan Wade, who gave him the highest mark I have ever seen him give a horse. So we expected him to do really well and the top judges all had him on their lists.”

Salhia Stud Laying Foundations

Representing Saudi Arabia's Salhia Stud, Richard Knight signed for four yearlings throughout the first session for a total of 2,190,000gns.

At the head of the list was another Newsells Park Stud filly, this one by Dubawi (Ire) out of the G2 Prix de Malleret winner Waldlied (GB) (New Approach {GB}). A family that has served Newsells Park well over the years, the yearling's dam is a half-sister to the Arc winner and Ballylinch Stud stallion Waldgeist (GB) and it is hoped that the youngster could eventually form one of the cornerstones of the burgeoning Salhia Stud operation, which has plans to establish a broodmare band in Britain. 

“I absolutely adored her when I saw her. Newsells Park have a fantastic group of horses and she has been beautifully prepared,” Knight said of lot 39. “We're lucky to be able to add her to the racing band, who we will breed from at the end of the day. 

Mohammed Saleh Bin Laden's Salhia Stud, which has been represented on the track this season by the winners Bintjeddah (GB) (Too Darn Hot {GB}) and Binadham (Ire) (Kodiac {GB}), currently has 10 fillies and two colts in training in Newmarket with William Haggas, Roger Varian, William Knight and Kevin Philippart de Foy. 

Knight later bought lot 44, Furnace Mill Stud's Kingman (GB) half-sister to three black-type winners including Delius (GB) (Frankel {GB}), for 420,000gns.

Book 1 Talking Points

By Brian Sheerin

• Tattersalls couldn't have wished for a better start to the opening Book 1 session. No less than 18 horses cleared 500,000gns, which speaks to the international appeal of top-notch bloodstock.
• The level of American interest in Book 1 continues to grow. Along with the usual suspects like Mike Ryan/Klaravich Stables, Mike Repole and Stonestreet, there was a broad depth of US interest on day one.
• Alex and Shane Power of Tradewinds Stud have been enjoying a decent time of it with their pinhooks this year and in lot 37, a Mayson (GB) colt that was sourced by the pair for 38,000gns, they secured more profit with a 100,000gns sale to agent Richard Ryan. Another power-packed performance from the brothers.
• It must be an auctioneer's dream to have everyone in the auditorium eating out of the palm of their hand. Well, for John O'Kelly, one of the best in the business, that happened not once but twice in the space of just a few minutes when he sold the Frankel fillies for 4.4 million gns and 2.5 million gns respectively. Not a bad afternoon's work!
• Both of those fillies were snapped up by Amo Racing, who emerged as the surprisingly-dominant force on day one with 10 yearlings sourced for 11,045,000gns, along with several more in partnership with Al Shaqab Racing. 
• Coolmore continued its support of young gun St Mark's Basilica (Fr) by snapping up a filly and a colt by the stallion for 300,000gns and 220,000gns respectively. All told, St Mark's Basilica enjoyed a respectable day's trade with four yearlings averaging 297,500gns.
• It would appear as though the tighter book really hit the mark on Tuesday. Despite offering 24 fewer horses compared to this day 12 months ago, the opening session concluded with a major rise in all of the key figures.

“Beautiful, beautiful colt.”@godolphin strike at #TattsOctober Book 1, going to 2,200,000gns to buy @BallylinchStud's No Nay Never ½-brother to the Gr.2 Champagne Stakes winner Iberian. pic.twitter.com/SGutqBdVPq

— Tattersalls (@Tattersalls1766) October 8, 2024

Golden Touch

One of the most encouraging aspects of the day's trade was the amount of successful pinhooks. Michael Fitzpatrick was once again turning water into wine with lot 6, a Blue Point (Ire) colt that he sourced for €85,000, who went the way of Sumbe for 400,000gns. But perhaps it is worth acknowledging the feat achieved by Gerry Burke of Glidawn Stud, who sold a Ulysses (Ire) colt out of Listed winner Zuhoor Baynoona (Ire) (Elnadim) for 85,000gns. The colt had been sourced for just 13,500gns by BBA Ireland at the Tattersalls December Foal Sale, which makes him the cheapest pinhook prospect to have walked through the ring on the opening day of Book 1.

Let's face it, these have been a trying few months for pinhookers in Europe. Burke's result, and the overall state of play on Tuesday, will have provided some encouragement for operators big and small. 

Pinhooking Fortunes On Tuesday

Of the 149 horses catalogued during Tuesday's session, 33 were pinhooks, and after two withdrawals, 31 horses visited the ring. A total of two did not meet their reserves and were buy-backs, leaving 29 yearlings marked as sold. Of the latter group, 27 made a profit ranging from 4,000gns to 310,352gns. A pair of lots lost money. The 29 pinhooks marked as sold were acquired for 3,627,060gns as foals and made 5,790,000gns on Tuesday representing a 59.63% return.

We have multiplied the price of the foal by 1.1 and added a running cost of 12,000gns (for foals bought in guineas) or €15,000 (for foals bought in euros) for keep, feed, veterinary, shoeing, sales prep and sales entry fees. Depending on whether someone has their own farm, or where they choose to board a horse, will obviously mean that costs for each individual can vary significantly.

It is worth noting that sometimes a horse can appear to be bought and sold by different names but have actually not changed ownership at all.