CEO Jack Wolf Bullish on Future of Pegasus

The $12 million Pegasus World Cup Invitational Stakes (G1) turned out to be a win-win situation for Jack Wolf, who wore dual hats as the CEO of the Pegasus and owner of third-place finisher Neolithic through his Starlight Racing partnership group.

Wolf, who has enjoyed considerable success in the Thoroughbred game campaigning and/or co-owning stars such as Harlan's Holiday, Ashado, Shanghai Bobby  , Purge, Octave, Monba, Take the Points, and Hilda's Passion, was hired by Frank and Belinda Stronach last spring to oversee the signing-up of 12 slot holders for the Pegasus, each of whom paid $1 million for a spot in the starting gate.

The event, run for the first time Jan. 28 at Gulfstream Park, came up roses, with positive results in attendance, handle, TV ratings, and even the weather, which fully cooperated.

“I thought it went quite well,” said Wolf. “Getting in and out of the track was very easy. The service and food was good. The undercard was great racing, which showed in the handle of $40 million on the day. The NBC people I’ve talked to thought the ratings were excellent.

“We were fortunate to have the two best horses in the country running, but having said that, to handle the money the Pegasus did ($11 million) with two even-money horses in the race was incredible. Kudos to (racing secretary) P.J. Campo for the undercard and to Belinda for the marketing. And I think running it on the weekend before the Super Bowl is a good place to be on the schedule.”

In addition to the chance to run for the $7 million winner’s share of the purse, slot holders will receive a percentage of the handle and sponsorship money raised around the race. Those figures will not be available for at least a few days.

Wolf, who said he thought the Stronachs were leaning toward keeping the event in South Florida going forward, said he thought the future was bright for the Pegasus.

“We got a late start trying to sign up sponsors, which is usually a tough sell for horse racing anyway,” he said. “With a year to work on that going forward, and with the success of the day, I think that part will come along. I would love to stay involved with the event and participate on the upside, because I think those numbers will get better.”

The numbers came up strong for Neolithic, who improved his bankroll 10-fold from $100,000 to more than $1.1 million with his third behind Arrogate and the Stronach runner Shaman Ghost. That seven-figure payday was for a horse who had previously won a maiden event and an allowance race.

“Our horse ran a very good race,” noted Wolf. “Even some of my partners were calling me a genius, and surely they know better than that.”