Equinties - roaring exit strategy

Gm Equinauts

Some big, big news broke yesterday:

And given Darren’s history with the sport and his ambitions this year to wind down, to varying degree’s, his participation in the sport, we think it’s the best damn deal he’s ever done.

Read our thoughts below.

Let’s dive in.

HEADINE ROUND UP

DARREN WAS LION (BUT WHO CAN BLAME HIM?)

There’s an old adage used by people in the horsey world - if it’s got four legs and there’s money table, take it.

This amusing little phrase is an equestrian life lesson often passed down from coach to student or from mum and dad to daughter and son. Of course, it wont apply to the very, very few for whom money is no problem but for the ‘real world’ majority, it’s bloody good advice.

Why? Because horses are big, strong and often stupid animals who can hurt themselves just sleeping in bed and, unless they’re name is FRANKEL, they’re pretty much always going to be a loss leader

Now, this isn’t to say one shouldn’t spend a little extra in life on expensive hobbies that bring so much joy, for life is too short and a life too short is a life to be enjoyed, but fundamentally it has to be within one’s means. If not, ‘living’ will simply have the opposite of the desired effect and then you’re in trouble.

The measure ‘living within one’s means’ will differ for everyone, none more so than between JP McManus and Darren Yates.

For those who don’t know who Darren Yates is, he’s a businessman made famous for landing a £550k bet when he backed a Franke Dettorri 7-fold back in 1996. Since then, he’s spent over a million on horses - many have been huge failures.

For most, JP McManus needs no introduction, but if you’re unsure as to who he is other than the owner of those famous green and gold silks, then let’s give you a little round up. He was a bookmaker at 21, a punter in his 30’s, property developer in his 40’s and since then a clever mover and shaker of business dealings wrapped up in complicated and opaque structures based mainly off-shore. His net-worth is estimate to be around £2b.

The measure between the two businessmen’s ‘means’ simply cannot be measured. JP McManus doesn’t have to live within his means, there are none, and unless the world blew up, he’ll probably never run out of money whereas for Darren Yates, he, like nearly everyone not called JP McManus, will have to live within a measure of means.

So, when the news broke yesterday that Darren, who had before clearly stated he wouldn’t sell THE NEW LION, had in fact done so in an undisclosed deal with JP McManus, we weren’t at all surprised.

It’s no hidden fact that racing has been slightly unkind to Darren in the past. A string of emotionally charged, bad decision-making has only led him to disappointment after disappointment, topped off by poor owners benefits such as prize money and a lot of public ribbing from the likes of Matt Chapman, Darren’s made it quite public (on the Nick Luck podcast) his enthusiasm was waning and that he wanted an exit strategy from the sport.

With Darren’s successful negations with JP to keep a ‘bonus’ interest in the horse, plus the fact he stables THE NEW LION’s half sister under his name, he still has involvement in the game, but as part of a wider exit strategy, this is a top, top deal for him - one we bet he won’t regret and for that we say ‘well done’.

Selling THE NEW LION is the best deal he’s ever done.

Now, let’s dive into today’s racing which, given yesterday was cancelled, we’re going to call Saturday!

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