Alpha Delta Stables

Felicita (More Than Ready), an unraced 4-year-old half-sister to Grade I-winning juvenile and Dayoutoftheoffice (Into Mischief), topped Tuesday's Keeneland December Digital Sale when hammering for $250,000 to Jon Clay's Alpha Delta Stables. The auction, Keeneland's third foray into the nascent online sale marketplace after its June Online Select Horses of Racing Age Sale and October Digital Sale, was seen by leading consignors as a clear improvement while still having kinks that need ironing out as the sector evolves. The one-day sale grossed $508,000 for 15 lots, for an average of...

"To be in the horseracing business, I think you need a lot of patience," says Jon Clay. "With horses that don't sell, even horses that get injured, I've learned to be patient; learned not to get too emotional." Easier said than done, naturally. But here's a guy who absolutely gets it; who understands that the reckoning is not rendered in consistent, cogent cycles of dollars and cents, but in a longer, wider register of satisfaction. Yes, Clay is a commercial breeder and strives to make his program pay. He has...