Since James Harron shot to prominence a decade ago courtesy of a Golden Slipper win, the Irish bloodstock agent’s colts partnership has largely been kept as a tightly held group of investors pursuing Group 1 glory and the associated lucrative returns.
Members entering and exiting the coveted Harron-led syndicate have been few and far between, with the majority riding out the inevitable highs and lows of racehorse ownership.
However, the New Year signalled a major announcement from Harron and one of his sales ring rivals, Hong Kong billionaire Tony Fung, revealing that they will form an alliance in search of their next Group 1-winning colt in 2025.
Aquis Farm owner Fung’s racing empire Tony Fung Investments, which has also raced a Slipper-winning colt in Farnan and fellow young stallion Anders, will also contribute to Harron’s filly partnership alongside Randwick trainer Michael Freedman.
Harron and Freedman enjoyed success with Group 2-winning filly Glistening, a $260,000 yearling purchase later sold for $775,000 off the track.
“The way the market’s trended forward over the last decade since we've been doing the partnership, we felt strategically it was a really good time to have a partner like TFI involved,” Harron told The Straight.
“They've had great success in their own right, so I'm sure not taking each other on in the ring and aligning our thoughts and our expertise is going to be a great asset to all our (existing) partners.”
Harron’s colts partnership, which started in the best possible fashion via Capitalist’s 2016 Slipper victory, has been the forerunner to numerous other syndicates being modelled on the high-risk, high-return investment that is stallion funds.
As well as Capitalist, Harron’s dark green and gold epaulettes silks have also been seen aboard King’s Legacy, Wandjina, Stronger and Pariah with co-owners including Belinda Bateman, property developer Phil Mehrten, G1G Racing and Breeding’s Gary Diamond and Rockingham Thoroughbreds’ John Ingham.
The addition of Fung won’t dramatically alter Harron’s long-term strategy of attempting to identify high-end colts good enough to find a home at stud or fillies deemed to have the credentials to increase their residual value on the racetrack.
Tim Rowe
Harron will also oversee the management of the horses in training for the syndicate under the agreement, which was first broached at the US breeding stock sales in Kentucky in early November.
“I believe that you never stop learning in this game … and we try to get through every year and reflect and look at what we can learn from and how you can keep bettering ourselves,” Harron said.
“But in terms of our system and our approach, I believe you do have to stick to those core principles and play at that over a period and we're quite comfortable with how that's been working.
“But you have always got to tweak it and add to it along the way, of course, and that's what we aim to do.”
Aushorse Investor’s Guide 2025
- More Races worth $1 million+ than Europe & America combined
- More than 140,000 Australians involved in racehorse ownership
Although it’s a new allegiance, it’s not the first time TFI and Harron have worked together.
At last year’s Magic Millions, Fung and Harron, who was acting for prominent owner and breeder John Camilleri, bought Snitzel filly Conscience for $1.4 million in partnership with her trainer Peter Moody.
The unraced two-year-old is a half-sister to Harron’s colt partnership-owned Zoustar three-year-old Espionage who is stepping up his comeback from injury which saw him sidelined from the spring.
He could be aimed first-up at the Black Caviar Lightning Stakes at Flemington in February, his first attempt at Group 1 level. Coolmore has already acquired equity in the Gai Waterhouse and Adrian Bott-trained dual Group 3-winning colt.
TFI has been a major ally of the late Ananda Krishnan’s Kia Ora Stud in recent years, partnering on at least 28 horses including last Saturday’s brilliant debut Group 3 BJ McLachlan Stakes-winning colt Space Rider, a $500,000 Gold Coast purchase last January.
Kia Ora owner Krishnan, who also holds equity in rival Hunter Valley farm Vinery Stud, died in late November, aged 86.
"In terms of our system and our approach, I believe you do have to stick to those core principles and play at that over a period and we're quite comfortable with how that's been working. But you have always got to tweak it and add to it along the way, of course, and that's what we aim to do” - James Harron
It is unclear whether TFI will also buy horses independently of Harron’s syndicate at Magic Millions and the Australasian yearling sales that follow this year.
Fung has also been a major supporter of trainer Annabel Neasham since she branched out on her own in Sydney in 2020 while TFI has a number of horses in work with Gerald Ryan and Sterling Alexiou.
One big player who won’t be on the Gold Coast is American John Stewart who has been forced to return to the US due to a family emergency just days after beginning his trip to Australia.
The Resolute Racing founder, who spent more than $5 million at last year’s Inglis Easter sale, had committed to attending the Magic Millions sale, but he revealed early on Thursday that his plans had changed.
“Unfortunately, I won’t be travelling to Gold Coast, Australia, as planned. A family emergency requires me to return to the US immediately,” Stewart wrote on X.
Despite the absence of Stewart, at least on the ground, and speculation that some other major investors may scale back their involvement in the yearling market in 2025, Harron stopped short of declaring any absolutes about how the sales season may pan out this year.
“I've never been right when I've tried to sort of second guess it. It's an interesting, very robust market and I think we've seen globally that bloodstock's still very much in demand,” Harron said.
Tim Rowe
“We're moving economically into slightly different times, but I think the quality end of the market will remain buoyant and we're racing in a great jurisdiction. So, like I said, I don't want to second guess the market.
“We will worry about our own backyard, but if you look at things across the globe over the last 12 months, it's held up pretty well.”
Day one of the Magic Millions sale starts on Tuesday.
