Grandview Shift in Plans Leads to Kentucky Derby Winner

The original plan in 2018 for Robert Clay's new venture named Grandview Equine was to acquire yearling colts that possessed the credentials to blossom into stallion prospects.

Clay is a veteran to Thoroughbred racing and breeding, however, and knows that converting opportunities into successes requires flexibility. His willingness to amend the business plan early by acquiring stallion shares and some mares to support those stallions put him on the most coveted real estate in American racing—the Kentucky Derby (G1) winner's circle.

Grandview bred Mage , who became the first Derby winner for Clay and his two Grandview partners as breeders, for Hall of Fame jockey Javier Castellano, trainer Gustavo Delgado, and for the ownership team of OGMA Investments, Ramiro Restrepo, Sterling Racing, and the Commonwealth microshare program under the CMNWLTH banner.

"It's surreal," Clay said of watching Mage roll with authority down the Churchill Downs stretch. "It's thrilling and surreal at the same time. You know, you're asking yourself, 'Are you kidding me?' You pinch yourself and then you pinch yourself again. I think maybe, if you hang around this business long enough, the Derby will be good to you."

Clay has certainly paid his dues. He founded Three Chimneys Farm in 1972 and developed a successful boutique stallion operation that included high-profile sires such as Seattle Slew, Dynaformer, and Rahy. Over the years, he's been involved in a number of good Kentucky Derby performers, just not winners. He owned a piece of Chief's Crown, who was third in the 1985 Derby, and co-bred with Richard Nip's Serengeti Stable the brilliant filly Eight Belles, who finished second in the 2008 Derby and then tragically suffered a fatal injury during the gallop out. He also co-bred grade 1-placed, grade 3 winner Point Determined  with Bowman & Higgins Stables and watched the 2006 Santa Anita Derby (G1) runner-up finish ninth in the Derby.

In 2013, Clay sold Three Chimneys to Goncalo Borges-Torrealba and five years later was back in the thick of buying and selling with Grandview, for which he is the general partner and manager.

"We started with two partners (outside of Grandview) in the colt venture and only bought colts for two years, but within Grandview we did diversify a bit and bought three shares in Good Magic  ," said Clay, referring to Hill 'n' Dale Farms at Xalapa's multiple grade 1 winner and 2017 Eclipse champion 2-year-old colt. "When we had the shares, we then bought three mares to support the stallion. Our portfolio has certainly changed."

With the help of bloodstock agents Alex Solis II and Jason Litt, Grandview acquired a stakes-placed Big Brown   filly named Puca  among its first broodmare purchases. Puca won a minor stakes at Suffolk Downs and was second in the Gazelle Stakes (G2), but she was a better racehorse than her record indicates, according to Clay. Trainer Bill Mott told Clay that Puca was good enough to have won the 2014 Breeders' Cup Juvenile Fillies (G1) but bad racing luck left her in sixth place at the finish.

"Billy and I were talking about her as we walked out of the paddock, and he reiterated with me again that she was always a good filly," Clay said. "She obviously had racing ability, she's a beautiful mare, and she's out of a good family."

Puca is out of the stakes-placed Silver Ghost mare Boat's Ghost , making her a half sister to Turf Classic (G1) winner Finnegans Wake  (by Powerscourt). In 2018, Grandview bought Puca in foal to then-first-year sire and 2017 Horse of the Year Gun Runner   for $475,000 out of Denali Stud's consignment at Fasig-Tipton's November Sale.

Mage is Puca's second foal. Grandview held on to the first foal by Gun Runner, who is a filly named Gunning  that is trained by Ken McPeek. Gunning has won three of seven career starts and is twice stakes-placed, having finished second most recently in the April 29 listed Dig A Diamond Stakes at Oaklawn Park.

Grandview offered Mage at the 2021 Keeneland September Yearling Sale, where the medium-sized colt attracted a lot of attention. Confidence was high until the morning of the day he was to be sold, when minor swelling was discovered in one leg. With buyers so particular, Clay said he wondered if Grandview would be taking the colt back home.

"We lowered the reserve a little bit, but he ended up bringing more than the original reserve, so it didn't bother the sale," he said. "He is not a big, strapping colt but he is really athletic. He sold himself."

A pinhooking venture under the name New Team bought Mage for $235,000. He would later be resold by Sequel Bloodstock for $290,000 to OGMA Investments at the Fasig-Tipton Midlantic 2-Year-Olds in Training Sale.

As for Puca, Grandview initially bred the mare to Olympiad   earlier this year but the mating didn't take. The mare turned out to be open right as Mage was marching toward the Kentucky Derby, having distinguished himself with a second in the Florida Derby (G1) to Forte . Puca was sent back to Good Magic and has since been confirmed in foal with a full sibling to the Derby winner.

What's next for Grandview is still fluid. Its colt venture did produce grade 1 winner Olympiad, who was second in the 2022 Breeders' Cup Classic (G1) to Flightline  . Olympiad was sold to Gainesway with Grandview retaining 10%, and the venture also owns a share in Gainesway's four-time grade 1 winner and multi-millionaire McKinzie  .

"With the sale of Olympiad, we've got dry powder and trying to figure out what to do next," Clay said. "We may come back to the yearling market by ourselves, or if we find another partner. Either way, we're trying to take a rifle approach instead of a shotgun approach, though you still have to play the numbers, too, in the colt game. There's a balance to it.

"We're not going in with any kind of business plan that we have to adhere to right now. I think we're opportunistic buyers and Solis/Litt has a great buying team. They've been terrific advisers that we talk to all the time about opportunities they find. Hopefully, we'll have to keep pinching ourselves."