Steve Speaks To Newgate’s Henry Field
NEWGATE FARM’S managing director Henry Field outlines the stud’s philosophy and strategy in a candid interview with Steve Moran.
Henry Field is happy to laugh off James Bester’s (good natured) description of him as Frankenstein. Perhaps adhering to Oscar Wilde’s view that: “there is only one thing worse in the world than being talked about, and that is not being talked about.”
There has, of course, been no shortage of discussion about the man who has overseen the rapid expansion of Newgate Farm and who has implacable faith in the stud’s strategic plan which is underpinned by Australian speed. It may well give him the last laugh.
Newgate, this year, stands four newcomers among its 13 stallion roster and Field is strong in his conviction that these horses will work even in a market which is seemingly saturated with well credentialled first season sires.
“Our focus is on the fast two and three-year-old Australian sprinters. The proven speed horses, Slipper and Diamond winners. Exactly the sort of horses who have dominated the sires’ tables in recent years. We’re standing the horses people want to send their mares to,” he said.
He’s adamant that his own roster will not be cannibalised by the plethora of newcomers, now and in the future, whom he sees as a greater threat to permanently imported and shuttle stallions.
“I was concerned four or five months ago that there might have been some negative impact but our market share has increased this year, as it has done year in and year out. Our stallions are heavily booked, around 95 per cent, and we’re very happy with the quality of mares we have this season.
“The high-class Australian speed horses are more likely to take mares from imported stallions. The fastest and best young Australian horses are better than their overseas counterparts. And I think you’ll see that some of the fresh shuttle stallions won’t come back.
“Shuttle stallions are high risk in my opinion and to be avoided unless they have some absolutely unique quality. Northern hemisphere farms will do just about anything to have an Australian stud take on one of their horses. After all it’s income for nothing for them,” Field said.
Newgate Farm’s four newcomers were sourced at various stages of their careers and Field says it’s part of the charter to ‘take a punt early’ and back your judgement. “We still can’t go head to head with the billionaires. We’ve been steamrolled a few times,” he said.
Capitalist (Written Tycoon) was purchased as a yearling; Extreme Choice (Not A Single Doubt) was secured after a majority interest was bought after his Blue Diamond Stakes (Gr 1, 1200m) win; Flying Artie (Artie Schiller) after his win in the Coolmore Stud Stakes (Gr 1, 1200m) and Winning Rupert (Written Tycoon) after his retirement.
“We seek plenty of advice from people like Peter Snowden and form expert Daniel O’Sullivan but, in the end, we have to back our own eye and our own judgement.
“The key is to be right more often than not and I think we’ve achieved that, as evidenced by how quickly we’ve built market share. I acknowledge that as the ‘new kids on the block’ people were happy to give us a go, but I think we’ve repaid that faith,” he said.
He also acknowledges that not every horse will work.
“Some horses will fail but that’s always going to be the way. Having the right product has continued to build that market share but we take nothing for granted. We’ve worked hard on building relationships and will continue to do so as well as ensuring we continue to stand the right horses,” he said.
Newgate’s rapid expansion has demanded the building of two new breeding sheds and the acquisition of extra, key stallion staff. “We planned for that and we understand that is our responsibility to mould the careers of many of the horses who will emanate from the farm.
“To that end, we can point to the likes of Foxplay and Volpe Veloce who came off the farm. They’re, of course both, by Foxwedge (Fastnet Rock) who’s fully booked amid massive fanfare and who’ll be a flagbearer for Newgate in the long term,” he said.
Newgate Farm’s growth has been such that, this year, they may well have the greatest number of matings of any Hunter Valley stud. “Darley, between New South Wales and Victoria, will probably breed more but we’re right up there,” Field said.
And there’s no likely stagnation. Waiting in the wings are current competitors Russian Revolution and Invader (both by Snitzel) and Assimilate (Sebring) who are in the care of Peter Snowden as was Capitalist.
“We’re doing well. Investors, including many smaller operations, have done well with our stallions. Many weanlings from our first crop stallions of two years ago have sold north of $100,000.
“We’re continually looking to source the right horses rather than the good deal. If we’re not prepared to support the horse ourselves then why stand him? Would we breed 30 mares to this stallion is the first question we ask every time we look at a horse,” said Field, who estimates around one third of the 1,750 mares to be mated this year would be owned by stallion shareholders.
“We’re doing well but we’ve got a good way to go and we will keep raising the bar,” he said.