Buyer of Northview PA Sees Opportunity and Value

Entrepreneur John Green's two-year search to find the home for a new Thoroughbred breeding venture in Pennsylvania could not have ended better. Just as he was evaluating a former show horse farm that would have required a lot of upgrades, onto the market appeared Northview Stallion Station's 168-acre farm near the Maryland border—a fully equipped, turn-key operation wrapped in a sterling reputation.

"It's really been ideal," said Green, a native of York, Pa., who now has his primary residence in Charleston, S.C. "The reputation is there. The knowledge of the staff that supported the farm, which we hope to retain where possible, is there. The farm is so intricate to the Pennsylvania program, even by location, I give them all the kudos in the world for what they've built and the job they've done."

Northview announced in May it was closing its Pennsylvania farm in order to consolidate its Mid-Atlantic stallion operations in Maryland. Located near Peach Bottom, Northview PA is currently home to four stallions—millionaire Hoppertunity , whose first crop is arriving this year; freshman sires Peace and Justice  and Uncle Lino ; and veteran sire Medallist , who has been on the Pennsylvania roster since the farm opened.

Green said once the deal on the farm closes, he envisions carrying on the boarding and foaling services provided to breeders under the name Wellbourne Farms, while also building his own stallion roster and a broodmare band to support it.  

"This is an opportunity we have been looking for in a select state like Pennsylvania. Some of the other states have good programs, but Pennsylvania's program is better than most," said Green, who has been engaged in a variety of equestrian disciplines over the years with multiple breeds of horses since his grandfather bought him a show pony as a child. As an adult, he is an avid fox hunter and polo player who also has been involved in both Standardbred and Thoroughbred breeding and racing. His involvement with Thoroughbreds began in 2005.

When talking about the Northview property and his impression of the Pennsylvania-bred program, Green regularly refers to the value he sees in both. Professionally, Green is a capital investor in emerging small businesses.

"This particular project involves a lot of personal passion and is part of a lifelong pursuit, but it also is no different in how I value businesses in my other line of work," he said. "The market continued to support this farm in particular even amid a global pandemic. It is interesting that even with everything going on in the world, they still had a robust season. It doesn't seem like the Pennsylvania market took a step back at all. That gave my reassurance of going into the Pennsylvania market feel a bit more foolproof."

Pennsylvania's state-bred program has endured some turmoil this year, with an announcement in February by Gov. Tom Wolf that he intends to redirect $204 million from the Pennsylvania Race Horse Development Fund toward college scholarships. This fund receives $250 million annually from casino revenue and is the dedicated source of all breeders' awards, stallion awards, and purse supplements for state-bred runners.

Even in this climate of uncertainty, Green said he still sees opportunity and value.

"I anticipate after the Labor Day holiday the governor is going to make some kind of announcement about the forthcoming plan to the industry, so we'll have some idea if there are going to be some adjustments particularly to the breeding program," he said. "I think that it is going to be OK, but we are waiting to adjust depending on those announcements. Our goals with this farm, though, remain steadfast in terms of continuously improving the quality of the product."