Syndication model taking off in Gulf racing
The perception is that racing in the Gulf region is purely for the oil-fuelled Sheikhs and the uberwealthy fly-in owners and trainers with a high-class horse capable of competing in a Saudi Cup or a Dubai World Cup meeting.
But expatriate Australian Michael Costa, the private trainer of Sheikh Ahmed Bin Rashid Al Maktoum based out of Jebel Ali Stables near Dubai since mid-2022, says the successful syndicate model so heavily influencing his home country’s ownership model is taking off in the United Arab Emirates (UAE).
Extraordinarily, Costa says it’s often more cost-effective to own a horse in training in Dubai than it is in a metropolitan stable on the east coast of Australia.
Arguably, that says more about the skyrocketing costs of owning horses in Australia as much as it does about the equivalent costs of racing horses in the UAE.
Costa believes racing in the Middle East is on the rise, with plans for the construction of new racetracks and the upgrades of others on the table, developments which would cement the region's commitment to the sport.
“I think you really look at it as a whole region. You've got Saudi, Qatar, Bahrain, they're all heading from strength to strength and the UAE is definitely at the forefront of it,” Costa told The Straight.
“It’s getting more and more competitive, and we're starting to see maybe a shift from just having major owners to the introduction of a few more syndications. (Racehorse ownership is) becoming more accessible to more syndicates like it is in Australia.
“It’s not on that level yet, but starting to see more of a spread, which is good to see. From an expense point of view, it's more of an affordable place to race a horse from than … you'd find in Australia.”
Costa is second on the Emirates Racing Authority’s trainers championship standings with 33 winners at a strike-rate of 17.6 per cent as he continues to build the stable which only had four winners for the season before his arrival.
For that reason, Costa has focused on UAE racing rather than venturing further afield with his improving stable of horses.
“We've looked at it and we definitely could have travelled one or two this year, but just with the rebuilding of the stable, we wanted to just focus on Dubai at this stage, and then the next 12 to 24 months, once we've got bigger numbers, we'll look to spread them around the Gulf,” Costa says.
🗣️ "Michael Costa has found the key to him."
— Dubai Racing Club (@RacingDubai) March 8, 2025
Report and quotes from tonight's #DubaiCarnival meeting ⤵️https://t.co/5aEqnvdgxM pic.twitter.com/9D5Tbp6WtH
“Hopefully we can get the dirt horses back to the US, and then a few turf ones back to maybe the UK, and the big dream would be to find the right one to bring to Australia as well.”
That foundation laid at the sales by Costa and Sheikh Ahmed will be on display as the Dubai carnival builds up to the World Cup meeting at Meydan on April 5.
Among them is Godolphin Mile contender Meshtri, who has won two stakes races for Costa this season, while the in-form Keffaaf will be aimed at the Gold Cup.
Oasis Dream sprinter Marbaan, who made it two Group wins in succession with a victory at Meydan on Friday, could also target the Group 1 Al Quoz Sprint.
“The team’s building, we’ve got a few chances, but we’re still looking forward to the seasons to come when we’ve got a bit more strength at the top end as well,” he said.
That mission will be achieved by Costa attending northern hemisphere bloodstock sales, but alas, Australia won’t feature as part of that schedule.
“The weights are heavily against southern hemisphere horses as they have to carry an extra 4.5kg, which is just a little bit too much. It's a bit harsh when trying to find those horses,” the trainer said.
“So, we're just more focused on the northern hemisphere due to the weight scale. But if that changes, we'd love to get down and buy some Aussie turf horses.”
China mission for trio of Australian stallions
In a matter of weeks, Australasia’s commercial stallion farms will start confirming their rosters and service fees for 2025.
The timing of when service fees are released can be like a game of chess, with one stud’s move, prompting another to either release or delay their own announcement, not wanting to be overpriced or underpriced in comparison to a similar stallion.
Racecourse results during the Sydney autumn carnival can also dictate a stallion’s service fee.
For other stallions, the autumn signals the end of the road for their own careers, at least in Australasia.
And that’s the case with Group 1-producing sires Rubick and Invader.
The duo will join The Mission on a plane where they will continue their stud careers in mainland China.
Rubick, the sire of Everest winner Yes Yes Yes and dual Group 1-winning colt Jacquinot and last-start Hong Kong Classic Cup winner Rubylot, has been sold to China by Coolmore after spending the past four years at Swettenham in Victoria.
He covered 35 mares last year, his smallest book in 10 years at stud.
Aquis Farm has sold Invader, the sire of two-time Group 1-winning mare Sunshine In Paris, as well as The Mission, who has sired Group 3 winner Yellow Brick and Listed-winning stayer Mission Of Love.
Western Australia-based Mahuta, a four-time stakes winner for trainer Darren Weir, has also been sold to the Khon Kaen Jockey Club in Thailand, another sale brokered by Magic Millions’ David Chester.
Mahuta has had 36 runners for 21 winners, his best being the now-retired Daniel and Ben Pearce-trained Queen Alina, a mare raced by the Van Heemst family’s Lynward Park Stud where the son of Mahuta stood.
Antique a rare gem
For West Australian owner Bob Peters, Antique’s career on the racetrack was short-lived, winning twice in just 10 starts that ended as a spring three-year-old in 2002.
Trained initially in Perth by John Price before being transferred to George Hanlon, $130,000 Metal Storm mare Antique won at Sandown before being placed at Listed level at Moonee Valley and the Group 1 VRC Oaks won by Bulla Borghese.
But it was as a broodmare where Antique excelled, producing two stakes winners, Broadway Belle and Antique Belle, while she is also the second dam of champion sprinter-miler Arcadia Queen and dual Group 1 winner Regal Power as well as WA Derby winner Arcadia Dream, Arcadia Prince, Arcadia Rose, Action and Antique Miss.
After a decade residing at Two Bays Farm on Victoria’s Mornington Peninsula, having been bought by agent Sheamus Mills for Ross Ferris for $45,000 in 2015, Antique died last week at the age of 25 with the perfect record of eight foals to race for as many winners.
She spent the past three years as a nanny at Two Bays.
Vale Antique
— Two Bays Farm (@twobaysfarm) March 6, 2025
The “Queen” of the farm laid to rest today. Was one of the best. Will be missed daily but remembered forever 🥹 #dynasty pic.twitter.com/FPawb7xgia
“She's been a queen. You wouldn't find any better. She was just an absolute darling and an unbelievable sort of mare to look after,” Two Bays manager Rob Carlile says.
“The day she left here to be laid to rest, she's still dappled in the coat.”
After Two Bays bought Antique, they mated her with Redoute’s Choice but the filly foal died before going on to produce three colts in succession.
“We were a bit stiff. She had eight fillies before us, and then her first filly with us had to be put to sleep as soon as she arrived in this world, and then the second one (by Manhattan Rain in 2021) unfortunately died as well, so we were never able to keep a daughter.”
