The McGaughey name carries a lot of weight in the thoroughbred industry. Coach Shug McGaughey is a Hall of Famer whose credentials would greatly influence anyone with the same name. But his son, Chip, has made a name for himself.
As Keeneland’s assistant director of sales analytics, the younger McGaughey leads the effort to expand the Lexington-based company’s international presence.
“I’ve been brought in to replace someone who…has done a lot of work developing our international market. So that’s a big priority, then mares recruitment and then just general customer relations and all the marketing and advertising for sales,” said Chip McGaughey, who has been with Keeneland for nine years.
Although he believes that if he weren’t a part of the thoroughbred industry he would probably be working in golf, McGaughey enjoys being able to positively impact the lives of equestrian athletes around the world gender.
He shared with BloodHorse his thoughts on the upcoming Keeneland April Junior Racehorse Sale, knowing when he wanted to be part of the same industry as his father himself and his involvement with the Thoroughbred Aftercare Alliance.
BloodHorse: You mentioned international and it’s really an ever-evolving field. How have you seen that change in your nine years with Keeneland?
Chip McGaughey: It’s an open market. Different things go up and down and so you can see some of this growth in different countries. Obviously, with the investment that’s been put into Saudi Arabia, you can see our sales going down as well. Previously, they could only buy mares and some horses of racing age. Now different policies have been issued. They can buy yearlings and it’s more profitable there. So we’ve seen our sales especially in Saudi Arabia increase by a very large portion. In contrast, sales to Russia have been increasing, and it’s clear that due to the conflict in Ukraine, some of those sales will dry up. It’s a moving target and trying to figure out where the new market is going to be and how we can provide the service to make sure that whether they’re buying a horse or not, they have Keeneland in mind to get can source that horse. .
BH: Is there any particular market that you see growing faster than you anticipated?
CM: Saudi Arabia is easily the fastest growing international market today. Japan has always been one of our biggest countries, as has Ireland. However, in terms of your growth rate, Saudi Arabia is growing at an astonishing rate.
BH: Thinking more about the bigger picture, how has the sales landscape changed over the past 9 years?
CM: Racing in the United States has tapered off. …. You don’t have a lot of outlets for these horses to go to when some of these tracks are closed. In the role that I play in developing the international market, it ensures that we can find buyers from different parts of the world who can buy horses not only at the highest level but also even at later stages of sales. So it’s important that Keeneland maintains something for everyone, no matter what price point they’re shopping at. And then the way the sale is organized, you can make sure that you can get to the part of the sale that you want to participate in. and you won’t necessarily have to be here to see the whole thing. That’s one testament: Keeneland’s Business graduates perform around the world and in the biggest races. And they also underpin some of these growing markets.
Kabirkhan won Al Maktoum Challenge Round One (G1) in January in Dubai. He started selling horses at Keeneland to a customer in Kazakhstan, raced and beat his first daughter in Kazakhstan, eventually went to Russia and was one of the top horses there as a 3-year-old, but after There he went to Dubai as a jockey. 4 years old and winning group 1. It’s just a remarkable story that no matter where the horse is sold, it can eventually become a champion — one of the most respected and most revered in that area.
BH: You have the April sale coming up. How do you see that developing?
CM: It’s always a moving target. Obviously, the horses with real recent form will be the ones that stand out the most. We’ve spent a lot of time this winter just making sure that everyone thinks we’re going to have this sale, this is the day, and they should—especially, if they have horses to target —closed for sale soon. You can get great deals when selling racing-age horses, and it’s an ever-growing segment. And we think and feel that it will continue to grow as racing becomes more and more lucrative.
Keeneland Sales Round
BH: What do you think is driving the sales growth of these racing-age horses?
CM: I think a lot of people want to make sure they can get a ready-made horse. You have the opportunity to come buy a horse on Friday the 26th and race it the following week at Churchill Downs Derby Week. There’s nothing more exciting than being able to instantly get the hope of a nice, great profit. And I mean we’ve seen a lot of horses graduate from our April racing sale, and even our November racing sale, go on to become placed horses. class for their new ownership. And obviously, that’s going to continue to grow and motivate more people to get involved with their horses knowing that they’re going to get good results.
BH: Your involvement in this industry goes beyond what you do for Keeneland. What field are you passionate about?
CM: I have been on the board of the Thoroughbred Horse Care Alliance for a very long time, in fact I just recently retired, but that is a different story when it comes to the treatment and care of athletes. encourage this equestrian. I mean, the TAA has done a great job of making sure that all of these organizations are funded to be able to take over the horses after their racing career is over. And again, that’s maybe another aspect that doesn’t come to light as much, but it’s a good umbrella organization to make sure that all of these horses are taken care of. But Keeneland is also really good in that we’re all about collaborating with our customers. So, it is not necessary that we make a sale and then the story will end. So we want to make sure that when our customers do well, we celebrate that success with them. We want to see everyone sell their horses. And when we have buyers coming in and buying, we want those graduates, those horses, to continue to perform on the track and lead to repeat sales in the future.
BH: Who or what inspires you?
CM: I’ve always admired my dad, obviously with his work ethic and how long he’s been in this industry, as well as the level of respect he gets when people talk about him, all high marks and the respect people have for him. keep it for him. It was always something I aspired to but also wanted to make sure I could represent Keeneland in the best possible light. And Keeneland is a beacon in our industry. I think that’s an important thing and it’s not like we had a cut in revenue or anything like that – there were no bonuses or shareholders paid for a successful year. Just being able to put that money back into the industry. So it drives us to be able to recruit the best possible horses for sale and generate the most revenue so we can invest back into the industry; whether it’s through racing purses or charitable efforts, you name it. It was founded on the idea that it’s all about the horse and anything we can do to help the horse. That is the most important thing.
BH: Where do you want to see yourself in 10 years?
CM: Hopefully still in Keeneland. When I was offered this position, it took me a while to accept it simply because not only was (I) making a change from a job but I felt comfortable and enjoyed working when I was working at Cornett’s marketing and advertising department, but I also knew that if I took this position I would never want to go anywhere else. So, it’s a tough decision knowing that you’re hoping to solidify your career and life path. So the goal is always to continue to be here and represent Keeneland to the best of my ability.
