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Ninety North Racing Stable winning over partners by offering affordable shares of thoroughbreds and incredible race day experiences29 May 2013WEST CHESTER, Pennsylvania -- (PRESS RELEASE) -- John Whitman was soaking it all in. The Chicago native was perched in a Clubhouse Turn Sky Suite at Pimlico Race Course in Baltimore admiring the sun-splashed crowd below who had just witnessed an exhilarating 2012 Preakness Stakes won by I'll Have Another. "Can you believe this?" asked Whitman, incredulously. "We are in one of the best seats in the house and we paid a small amount of money to get into the partnership." Whitman was talking about his host -- West Chester-based Ninety North Racing Stable -- that launched in 2012 as a boutique syndicate offering affordable shares of thoroughbred racehorses in addition to unparalleled access and exciting race day experiences. Ninety North is Justin Nicholson's vision of a syndicate that seeks to grow the sport by making it available to everyone. His plan for success? Be approachable. Stay small. Offer unbridled access. Have fun. At 27, Nicholson may be the nation's youngest thoroughbred racing syndicate owner, however, don't mistake his youth for a lack of experience. Born into the sport of kings, Nicholson has developed a keen eye for finding talent both on the track and on the backstretch -- quite a feat when one considers Nicholson could not go near a horse or a stable as a youth owing to severe allergies. "Fortunately, I outgrew the allergies," said Nicholson. "I'm also fortunate to have been around some incredibly bright racing minds who have truly helped to pique my interest in this great sport." Ninety North Racing Stable is a collaborative effort between Nicholson and James "Jimmy" Toner, a respected veteran trainer who also worked with Justin's late father, Ronald Nicholson, and the Kimran Racing Stable. Location. Location. Location. Nicholson has hit the ground running, purchasing a barn at the renowned Fair Hill Training Center in Elkton, Md., (home to 2006 Kentucky Derby winner Barbaro and 2011 Kentucky Derby winner Animal Kingdom) that serves as one of the homes for Ninety North's roster of horses. Other locations where Ninety North maintains stables include Palm Meadows near Boynton Beach, Fla., Belmont Park and historic Saratoga (N.Y.) Racecourse. Unlike many larger syndicates, Nicholson pledged that Ninety North would focus on ensuring that owners have "unprecedented access" to their horses. "By establishing ourselves in these terrific locations, we are perfectly positioned to not only enter races at nearby tracks, we also are offering our owners unparalleled access to visit the horses and meet with our trainer and staff," said Nicholson. Nicholson story reads like "Moneyball" Nicholson was eight when his father -- along with partner Cesar Kimmel, and Toner -- bought and developed Flying Chevron, a major stakes winner whose crowning achievement came in a victory in the 1995 NYRA Mile. Purchased for $80,000, Flying Chevron earned more than $380,000 racing and returned seven figures in a subsequent sale that preceded his stud career. Justin cites that initial experience -- at that young age -- when he knew he wanted to be in the racing game. "I grew up on the business side of racing," said Nicholson. "The guys spending millions on horses, they always grab the headlines. I was always fascinated with the idea of building a group of horses by spending money wisely and then finding a niche for these horses." Sounds a lot like the Oscar-nominated picture Moneyball. "In many ways it is," said Nicholson. "Spending millions on horses is a risk, just as it is with a free agent athlete. The history of racing is littered with million-dollar prospects that didn't pan out. But there are hidden gems out there, at reasonable prices. You do the legwork. You find that horse. Pair him with a terrific trainer like Jimmy and watch them develop together. Then to see that horse run well? Incredibly rewarding." In 2006, Ronald Nicholson passed the torch to his son. Justin was 20. "Make no mistake, I am still learning," said Nicholson. "But I'm confident in the people around me and in my record so far. I'm eager to share our success with others." Nicholson has spent the last three years building AJ Suited Racing Stable, a privately-owned operation that spent much of the 2011 spring campaign among the leading owners at Belmont Park. Accessible and Affordable During this same time period, Nicholson also realized he wanted to change how traditional syndicates did business. "Too often in syndicates, the owners are kept in the dark and without much say in the campaigning of the horse," said Nicholson. "I want to change that paradigm and focus on running Ninety North with as much transparency and openness as I can. "This is not an easy sport," he added. "But it can be an incredibly exhilarating ride. I want people to experience that. We are offering full access to our stables, horses and trainers. We plan to race all over the East Coast." Nicholson stressed communication will be key with all owners. "Whether it's a discussion or a direct vote, I want the owners of Ninety North to be involved in the process," he said. "I have seen large outfits first-hand, where you feel like a cog in a giant machine. I do not intend to replicate that model here." Nicholson said owners could get in the game with an investment in the low four figures. (Partners involved with Wabbajack were able to purchase shares for under 1k). Expenses are billed on a quarterly basis. Investment lengths are in the 2-3 year range. "I am hoping that the model that has led AJ Suited to such competitive standing within only two years will appeal to the public, and that they will trust not only in me, but also the team of people like Jimmy Toner and others behind the scenes who will be putting Ninety North Racing Stable together," he said. Partners enjoying the ride Whitman, who belongs to multiple syndicates, is sold on Nicholson. "Justin and his team provide a high level of service at Ninety North," he said. "From weekly bulletins updating us on our horses or arranging a race day table or a stable tour, I am continually impressed by Justin's approach. It has been a terrific experience, and (Justin's) just getting started." Bob Thomson of Windham, N.H., also belongs to a number of racing syndicates. "Ninety North far exceeds the other syndicates in the level of service," he said. "Justin takes time to put together events for the partners that enable us to enjoy the sport and ownership position even more. "His approach to educate individuals new to horse racing partnerships on all key elements, including auctions, training, and the overall well-being of the horses, is unlike any other partnership. I feel extremely confident in Justin's approach to horse racing, and I appreciate his desire and passion. Justin wants to make horse ownership financially viable for everyone. He's a terrific, young ambassador for this sport." Whitman and Thomson are among 25 new partners who have enjoyed a terrific start to the 2013 campaign having seen three Ninety North horses (Wabbajack, Lisvernane and Spiral Stair) all break their maidens (win their first race) since late April. Chief Energy made it four winners in under a month for the stable when he won in a romp May 27 at Parx. Wabbajack's April 28 win at Belmont Park is a perfect example of Nicholson spotting a horse with a good pedigree (Sire is Midnight Lute) at a good value (25k) and competing and winning against a field of maidens with much higher price points. In fact, Wabbajack bested horses whose owners paid between $750,000 and more than $1 million, respectively. |