Kentucky Derby

Winning owner: 'Preakness, here we come'

I'll Have Another's jockey, Mario Gutierrez, and owner J. Paul Reddam held up the Kentucky Derby trophy Saturday, flanked by trainer Doug O'Neill, behind Gutierrez, and Gov. Steve Beshear, right.
I'll Have Another's jockey, Mario Gutierrez, and owner J. Paul Reddam held up the Kentucky Derby trophy Saturday, flanked by trainer Doug O'Neill, behind Gutierrez, and Gov. Steve Beshear, right. Herald-Leader

There may never be anything like I'll Have Another for owner J. Paul Reddam, but that won't stop the first-time Kentucky Derby winner from trying.

"I don't know how anything could be bigger than winning the Kentucky Derby, but if you hear of anything, let me know," Reddam said.

Although this was his first time to take home the roses, Reddam, 56, is no stranger to big wins.

In 2004, he was co-owner of Breeders' Cup Juvenile winner Wilko and of 2006 Breeders' Cup Turf winner Red Rocks. Reddam had two previous starters in the 2007 Kentucky Derby: Great Hunter, who finished 13th, and Liquidity, who finished 14th.

"Horse racing is the most dangerous kind of addiction because it has intermittent reinforcements, right? Every once in a while, something good happens, and that keeps you gambling or buying horses, what have you," Reddam said.

Dennis O'Neill, brother and assistant to trainer Doug O'Neill, bought I'll Have Another for Reddam for $35,000 as a 2-year-old at the Ocala sale.

A native of Windsor, Canada, Reddam has a bachelor's degree in psychology, and he earned a doctorate in philosophy from the University of Southern California.

But he makes his living understanding money.

In 1995, Reddam founded Ditech.com, a mortgage loan company that he sold to GM in 1999. Now he is president of CashCall, a financial lending company, in Anaheim, Calif.

He got hooked on racing in high school, skipping school to go bet with a friend who was a groom at a local harness track.

"When I came out to California in 1979, I was working on my doctorate. I went to Santa Anita one day and, oh my God, look at this place," Reddam said. "I was fortunate enough to see, the first year I was there, Spectacular Bid, his run. I was hooked. I never really dreamed that I would be in a position to own racehorses, but I got very lucky in my life and it happened. I guess I'm still pretty lucky."

Now he has 25 Thoroughbreds in training and broodmares at farms in California and Kentucky, but he also owns a string of harness horses.

Other major Thoroughbred racehorses he has owned include Square Eddie, Elloluv, Sharp Lisa, Cash Included, Swept Overboard and Spring At Last.

Reddam's partnership with Doug O'Neill began in 2004, when a friend sold him a share of a Thoroughbred claimer.

"The Doug O'Neill team is a lot of fun. The whole group tries to remember that racing is supposed to be fun. There's a lot of laughter there. We're kind of a working-class group, and the horse (I'll Have Another) matches that completely," Reddam said. "I just feel like we have very good chemistry, and it culminated with today."

As for tomorrow: "Preakness, here we come," Reddam said.

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