by Murray Brown

“Of all the people I’ve known in life, Richard Young is the most honest, ethical partner that I’ve ever had. But that’s only part of the story. I’m saving the other part for a certain best seller that I’m never going to write. It would be called ‘Richard is Richard.’”

That quote comes from prominent horse owner Craig Henderson. Although Henderson had been first exposed to horse racing by his grandfather when he was about 12 years old, it was through his association with Young that he started on the road to becoming a prominent owner.

Let’s start with your grandfather.

“My grandfather was the kind of person that just about any kid would love to have been able to spend time with. He lived in Rochester, NY. I would spend time there each summer with my grandparents. He would take me fishing one day on the Finger Lakes and then the next day we would go to the Finger Lakes thoroughbred track. There was a hitch though. The age for admittance to the track was 18. I was a long way from that age. He’d go to the guard at the gate and tell him that I was small for my age. The guard would look skeptically and say that I didn’t look old enough. My grandfather would put a couple of bucks down and ask the guard if I was aging. He’d raise the ante if necessary to the point where I was okay to enter. In the evening, we would go to Batavia Downs. My grandmother, who liked harness racing and didn’t care for the runners, would come with us to Batavia. So, when I seriously started in harness racing, it wasn’t totally unknown to me.”

There was a long period of time between going to the races with your grandparents and when you became an owner.

“I spent my entire career in the municipal bond money management business. My biggest love in life other than my family is in playing competitive bridge. That is how I met Richard Young. In 2005, we played together as partners in a random online game. We also became friendly. We were both big golfers. Richard invited me to play with him at his club in Florida. I thought ‘Why not?’ I booked a flight to Fort Lauderdale and met Richard at his club in Boca Raton.

“Richard had a friend of his join us in our threesome. This guy was a serious golfer. I think his handicap was either a two or three. I asked him his name. He was Steve Condren. I asked him what he did for a living. He drove harness horses, specializing with young horses who were just beginning their racing careers. I became interested. I asked Richard why he hadn’t told me about Steve and what he did. I really don’t remember his answer.

“Richard and I continued to play bridge and became friends. For a few years, Richard would ask me to join him in his annual yearling purchases, with the stern warning that if I became his partner, I could own no more than 49 per cent of any horse we owned. For two or three years, I resisted his invitation. In 2008, the year of the financial collapse, he told me his luck had been so bad, I needed to come in with him on a yearling to help change it. I thought it over and told him I would come in for as much of a percentage as $25,000 would buy. He bought a filly for $75,000. That filly was Put On A Show. She of course went on to earn $2,406,628 and become a world champion. What a way to start!

“I remained as Richard’s partner for about five years. We were both doing well — in the horse business, that is. Things began to unravel between us and the situation eventually became untenable. Put On A Show and two of her foals were sold and Richard bought me out.

“Now quite a few years later, I look back and think how much I learned from Richard, who was most generous with his time and knowledge. The number one lesson I learned in this business, came from him. In essence, it is don’t throw good money after bad. If they are no good, then find them another home. As of this year, I’m carrying that forward a bit to say that if they do not race at 2, then someone else needs to own them.”

So, at this point, if you are to stay in the business, you are in effect on your own?

“No. Chris Ryder was still my trainer. We had established a great relationship. He was my main man then and I expect and hope that he will always be. He is honest, a hard worker and as ethical a horse trainer as I’ve ever been around.”

But you also have horses with other trainers?

“I do and they are all people in who I have great trust. Nevertheless, Chris is and always will be my main man. I also have horses with Ronnie Burke, Linda Toscano and Dave Menary. To a great degree, I am with them because my partners and I have a relationship and trust with these folks. Speaking of partners, not only my partners, but other people throughout the sport, this business is loaded with wonderful people.

“My partners are all great people. I am friends with most of them both in and out of harness racing. For the most part we have complete trust in our trainers and they call the shots with our horses. I have a wonderful group of partners including Bob Mondillo, Pete Mazzella, Bill Donovan, Scott Dillon, Joe Sbrocco, Michelle Crawford and Libby Jones. I’m sure I’ve left out somebody, for which I apologize. Steve Stewart, Mark Mullen and Adam Bowden have also been good friends and advisors. Referencing Ronnie Burke, he has to be the eighth wonder of the world. In case he ever gets tired of training horses, he can teach a course in business management at Wharton or the Harvard Business school.”

You’ve had a pleasurable and profitable experience in your time in the sport, but are there a few things you feel that need to be done to improve it?

“That is a huge understatement. I have two pet peeves that can, in my opinion, be easily rectified, if the people involved would only and quite easily do something about it.

“The first relates to why do the authorities, most specifically the racing commissions, make it so difficult for people to participate as owners? We are in the 21st century. Hasn’t anyone there heard of Docusign? Why do they insist on actual signed signatures on paper? Its archaic! Why does every state need fingerprints? One set should do the job. Some states require new fingerprints after three years. How silly is that? Do your fingerprints ever change? I don’t believe so.

“The second area that concerns me a great deal is horse aftercare. I contribute to several organizations involved in caring for our equine athletes who are no longer racing. More people need to participate. It’s an obligation and I believe a necessity. The decision of the USTA board to do away with mandatory freeze branding is likely the most asinine and irresponsible act that board has ever perpetuated. The horse with the freeze brand is easy to recognize and possibly rescue when that horse ends up, as far too many do, in a kill pen. Why would they do such a horrible thing?”

How many horses do you have today?

“I have six who are 3 or older, seven 2-year-olds, four yearlings and five broodmares, two of which have already foaled. It’s important to mention that I don’t own all of any of the horses. That to me makes sense on a practical basis. It also, in no small part, has fostered great relationships between me and my partners. Adding up the percentages of the horses of racing age, I try to limit my total ownership of racehorses each season to four entire horses.”

You mentioned that playing competitive bridge is still your greatest passion.

“It is and I suppose it always will be. Next in line is investing my personal money. I love the investment business. I’ve worked hard and achieved some success for myself and my clients. Third, but not that far off is the horse business, every facet of it. I love going to the sales and shopping for yearlings. I love watching these yearlings develop and become racehorses. I also love life. I enjoy fly fishing and travel. We have a home in Park City Utah where we spend seven months a year. My wife still skis, but I gave it up a while ago. We enjoy restaurants and love finding good new ones. I love golf and play regularly. Actually, I leave tonight on a seven-day golfing trip in Ireland.”