Humphrey: Invest and They Will Come

By Lucas Marquardt

The industry must continue to make capital investments in tracks and wagering outlets if racing is to regain its status as a premier sport. That was a key message from G. Watts Humphrey at the Thoroughbred Club of America's 86th annual Testimonial Dinner, held Friday evening at Keeneland Race Course. Humphrey, who along with his wife Sally owns Shawnee Farm in Kentucky, was named the TCA's 2017 Honor Guest for his decades-long involvement as one of the sport's leading owners and breeders.

“As an industry, we need to reinvest in our facilities to enhance the experience of our fans–just as Major League Baseball, the NFL and all the other major sports have done over the past 10 years,” said Humphrey.

Humphrey talked specifically about investments made by Churchill Downs Inc.–he's currently the chairman of the board of directors–and about the initiative by Churchill and Keeneland to partner on two new Kentucky racetracks in Corbin and Oak Grove.

“I am especially excited about [that] partnership,” he said. “With the support of the Kentucky Thoroughbred Association and the Kentucky HBPA, we will be working together to make these two new racing facilities a reality. Our goal must be to build our daily purse distribution to create $100,000 maiden races on the Kentucky circuit. With the reality of current training expenses, we must increase purse disbursements in order to retain our current owners and attract new ones. This will be in the best interest of the entire racing community.”

Humphrey reiterated that attracting new owners was imperative.

“We don't have too many horses, we have too few owners,” he said. “A circuit with this level of purses will be a big step forward. It is a proven fact that quality racing attracts new fans and higher handles. This also will be a partnership that can be a formidable force to advance the industry's interests. We have all seen over the course of the past decades, when there is discord among the most important voices, it allows legislators and regulators the ability to say we will take the industry seriously when it speaks with one voice. Now, we will be speaking with one voice. I encourage you to go online and read the press releases on this partnership. We are asking all of you to support these new initiatives.”

Humphrey said he's seen firsthand how investments made by Churchill Downs has led to growth.

“Over the past 17 years, Churchill Downs has invested over $250 million at Churchill, Arlington, and Fair Grounds,” said Humphrey.

At Churchill alone, he said, recent investments have included the installation of the world's largest 4K UHD video board; modernized and upgraded seating areas; and a lighting system that now allows for night racing on both the turf and main tracks.

“These changes have led to a tremendous increase in attendance and handle for the [Kentucky] Derby and the [Kentucky] Oaks, night racing, 'Thurby' [Thursday before the Derby] and the overall racing program,” said Humphrey. “We are confident these improvements will help to provide additional funds to increase our daily purse distribution, which in turn will attract new owners.”

Humphrey also noted two recently announced projects: HRM Trackside, a $60-million wagering facility that will occupy an 85,000 square foot building; and a $32.5 million allotment for a colonnade and to parking improvements at Churchill.

Humphrey was introduced by his longtime trainer Rusty Arnold, and by his daughter Vicki Oliver.

“My father has been in the horse business for over 60 years in so many different disciplines,” said Oliver, who, along with her husband Philip, also trains for her father. “Many of you might not be aware that my father was a starting quarterback at Yale University and was drafted by the NY Jets, but instead served our country as a first lieutenant in the Marine Corp. [in Vietnam], where, by the way, he received three Purple Hearts and a Silver Star.”

Humphrey, alone or in partnership, has bred some 90 stakes winners, including champion Sacahuista and the Grade I winners Creme Fraiche and Clear Mandate, among many others. He has served four terms a steward of The Jockey Club and has served on the boards of the Breeders' Cup, NTRA and American Horse Council, as well as in numerous other capacities in the industry.

Humphrey closed his speech by recognizing his family.

“A special thanks to Sally,” he said, “my wife and partner for over 51 years, and our children–Susie, Vicki, and Watts–for their unwavering support and their love of the horses, the farm and racing, and their desire to keep this tradition going for a long, long time.”