Surreal Kentucky Derby turns into a thrilling one for Lexington’s Spendthrift Farm
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2020 Kentucky Derby coverage
The Lexington Herald-Leader and Kentucky.com produced numerous stories, photos and videos out of Saturday’s 146th Kentucky Derby won by Bob Baffert trainee Authentic at Churchill Downs. Click below to read all of our coverage.
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After having one of his horses flip in the paddock, forcing a pre-race scratch, then being run over in the winner’s circle by his other one, Eric Gustavson summed it up best.
“This was probably the most surreal day of my life,” said the president of Spendthrift Farm.
A surreal day but a glorious day for B. Wayne Hughes, owner of Spendthrift Farm, the majority owner of Authentic, who fought off favorite Tiz the Law to win the 146th running of the $3 million, Grade 1 Kentucky Derby before a nearly empty Churchill Downs.
Spendthrift Farm owns Authentic in partnership with MyRaceHorse Stable, Madaket Stables and Starlight Racing. Bred by Peer E. Blum, and trained by Bob Baffert, Authentic was a $350,000 purchase by SF Bloodstock at the Keeneland September Yearling Sale in 2018.
It was also the crowning equine achievement for Hughes, the 86-year-old billionaire from Oklahoma who made his fortune as founder of Public Storage, the largest self-storage company in the United States. Hughes watched the race with his family at Spendthrift, the Lexington farm and stallion operation he purchased in 2004.
MyRaceHorse offers part-ownership in the form of micro-shares to Thoroughbred horses. According to president Mark Behrens, it now has over 4,600 partners, including Lexington native and Los Angeles Dodgers pitcher Walker Buehler and former professional skier Bode Miller.
MyRaceHorse owns about 50 horses, approximately half in partnership with Hughes, who is known as one of the innovators in the sport. “When I first had lunch with Mr. Hughes, he told me this sport is better than the NFL, people just don’t know yet,” said Behrens.
Led by Louisville-based owner Jack Wolf, Starlight Racing was part of the ownership that owned 2015 Kentucky Derby and Triple Crown winner Justify. Madaket Stables is run by philanthropist Sol Kumin of Boston.
Along with Albaugh Family Stables, Spendthrift also owned Derby entrant Thousand Words, who was scratched after rearing up and losing his saddle in the paddock, in the process fracturing the arm of Jimmy Barnes, the assistant trainer to Baffert.
“We were down in the dumps about that, we were low,” Gustavson said. “Then Authentic goes out and wins the Derby in amazing fashion. And then I get run over by our horse.”
Both Gustavson and Baffert were knocked to the ground when Authentic acted up in the winner’s circle. All three were unhurt. “I’ve got so much adrenaline running I probably won’t even feel it until who knows when,” Gustavson said.
What does the victory mean for Spendthrift?
“Oh, my gosh, we don’t even know yet what the win means,’ Gustavson said. “The fact that we own the horse and we own the stallion (Into Mischief) that is the best stallion in America and now he’s even more the best stallion in America. We are so blessed. We are very, very thankful.”
This story was originally published September 5, 2020 at 10:32 PM.
