Skychai Racing Purchases Interest in Fast and Accurate

Skychai Racing purchased a minority interest from owner Dr. Kendall Hansen in grade 3 winner Fast and Accurate, who will be supplemented to the Kentucky Derby Presented by Yum! Brands (G1) for $200,000.

Fast and Accurate punched his Derby ticket with a half-length victory in the JACK Cincinnati Casino Spiral Stakes (G3) March 25 at Turfway Park. Hansen and Skychai had previously partnered on champion 2-year-old Hansen as Skychai purchased a 25% interest in the son of Tapit   before his victory in the 2011 Grey Goose Breeders' Cup Juvenile (G1).

With 50 Derby qualifying points earned with his Spiral win, Fast and Accurate, a son of Hansen, is ensured a spot in the Louisville classic. Owner Hansen said that Skychai purchased a 27% interest in Fast and Accurate.

Dr. Hansen said the deal began to come together at a Spiral day party he hosted at Turfway that some of the Skychai partners attended, including Harvey Diamond. He said the partnership in Hansen was a great experience and he looks forward to enjoying the Derby with Skychai.

"We got serious about the deal about one second after he crossed the finish line in the Spiral," said Diamond, whose Skychai venture includes Jim Shircliff and David Koenig. "I guess we're just suckers for gray horses," he added, referring to Hansen and Fast and Accurate.

"We took a lot into consideration," continued Diamond, "and Fast and Accurate looks to have more stamina on his dam's side than most of the Hansens. He looks like a genuine 1 1/4-mile horse. Plus his being a Pennsylvania-bred opens up some lucrative possibilities."

Dr. Hansen confessed a mistake was made regarding Fast and Accurate's Triple Crown nomination, explaining that he'd thought the colt was nominated to the Triple Crown races when he purchased the son of Hansen for $85,000 from the Wavertree Stables consignment at last year's Ocala Breeders' Sales Co. spring sale of 2-year-olds in training. 

"It didn't occur to me when we bought this Hansen colt at a 2-year-old sale that we weren't covered. It slipped by," Hansen said. "(Trainer) Mike (Maker) should have thought of it, my secretary should have thought of it, I should have thought of it; but all three of us screwed up."

Nevertheless, all of the owners are looking forward to the first Saturday in May.

"When people ask why we do this, I tell them, 'Never get in the way of old men and their dreams,'" Diamond said.

John Penn is the breeder of Fast and Accurate, who is out of the Green Dancer mare It's Heidi's Dance, producer of six winners from as many starters.

Lenny Shulman contributed to this story.

This story was updated March 28: A quote that contained a factual error was removed.