STAKES ARE EVEN HIGHER

John Ward, better known as the trainer of Beautiful Pleasure--last year’s champion older female--attended the 1998 Keeneland July yearling sale as an agent for Fusao Sekiguchi, the Japanese venture-capital investor whose return to the Kentucky horse auction had people in the pavilion gossiping.

Two years before, the pony-tailed Sekiguchi had been top bidder for seven yearlings that sold for $5.75 million. Among his purchases was a Storm Cat colt that was hammered down for $1.7 million, the highest price at the sale. But afterward, Sekiguchi--citing business reverses, asked Keeneland to take back the horses and resell them--promising to make up any difference.

Sekiguchi, his money supply revived, was back for more action in ’98 and his was a propitious return. He bought one colt for a whopping $4 million, Fusaichi Pegasus--the talk of Churchill Downs’ backstretch and the favorite in Saturday’s 126th running of the Kentucky Derby.

Ward, who began working for Sekiguchi in 1995, the result of a headhunting search by a retired three-star general who’s a friend of the Tokyo businessman, recommended two horses at Keeneland in 1998: Fusaichi Pegasus, the son of Mr. Prospector, and a colt sired by Storm Cat. The Storm Cat colt, bought by the partnership of Bob and Beverly Lewis, Susan and John Magnier and Michael Tabor, turned out to be High Yield, the Blue Grass Stakes winner and one of the obstacles for Fusaichi Pegasus in the Derby.

Ward has a grading system that simplistically ranks horses consigned to auctions. His categories are size, athleticism and overall appearance, which includes conformation and soundness. He gave Fusaichi Pegasus a “24B,” the 2 denoting medium size, the 4 one below the optimum for athleticism and the B second-best on the overall scale.

“That’s a high score,” said Ward, who wrote down a 34B for High Yield, a more robust yearling.

Although Fusaichi Pegasus had a slightly lower score according to Ward, Sekiguchi told him to go after that colt, because he was more enthusiastic about the Mr. Prospector line than Storm Cat’s. The buzz on Fusaichi Pegasus was widespread, and Sekiguchi, projecting that the colt would bring at least $3 million, gave Ward a bankroll of $4 million.

There were others at Keeneland who also wanted Fusaichi Pegasus badly--namely, Satish Sanan, the Magniers and Tabor, who had won the Derby with Thunder Gulch in 1995. To avoid bidding against each other, they joined forces. Before the bidding started on the lot including Fusaichi Pegasus, Sanan, the owner of Padua Stables, and his trainer, Wayne Lukas, moved across the arena to sit with the Magniers, Tabor and Demi O’Byrne, who was their agent.

Lukas, the eventual trainer of High Yield and a conditioner who has trained four Kentucky Derby winners, including Thunder Gulch for Tabor, also liked Fusaichi Pegasus, but his advice was not to get in a steep bidding battle.

“I knew about [Sekiguchi],” Lukas said. “When you go after a horse against him, he’ll take you all the way.”

The bidding quickly reached $1 million.

“I tried to stop them there, but I couldn’t,” Lukas said.

With the sides going back and forth, the bid hit $2 million.

“I tried to stop them again,” Lukas said.

At $3 million, Lukas was again unsuccessful in telling his side to back off. But the bidding continued, and as it approached $4 million, Sekiguchi’s rivals huddled, then continued. At $4 million, though, they finally listened to Lukas and gave up.

While Sekiguchi waited for the opposing bid that never came after his $4-million offer, he whispered to Ward that he was prepared to go to $5 million if necessary.

“The horse was on my short list but I wasn’t four-million crazy about him,” Lukas said. “I wasn’t quite as high on him as the guys I was with, but I guess I was wrong. But whether a horse costs $4 million or $1 million, like High Yield, the sales price isn’t going to do them one bit of good when they hit the quarter pole in this race. The only thing that might help them then is if their pedigree might jump in.”

The list of Kentucky Derby winners is studded with horses that were bought cheaply. For example, Seattle Slew (1977) brought $17,500 at auction, Spectacular Bid (1979) sold for $37,000 and Sunday Silence (1989) and Real Quiet (1998) went for $17,000 apiece. Sunday Silence was actually sold a second time, for $32,000. A million-dollar horse has never won the Derby, the most expensive winners having been Winning Colors (1988) at $575,000 and Alysheba (1987) at $500,000.

Fusaichi Pegasus, who has grown up since Keeneland to weigh more than 1,100 pounds, was the highest-priced yearling sold at Keeneland since 1985, when Seattle Dancer brought a record $13.1 million and Laa Etaab went for $7 million. Neither of those colts ever made the Kentucky Derby, and Seattle Dancer went to stud having won purses worth only $164,728.

The consigners of Fusaichi Pegasus were breeders Arthur Hancock III and Bob McNair, who own the colt’s dam, Angel Fever, a daughter of Danzig. According to a Daily Racing Form ranking of 20th-century stallions, Mr. Prospector, who died last year, ranked fifth, behind Bold Ruler, Nasrullah, Bull Lea and Northern Dancer. Mr. Prospector, whose last crop will be foaled next year, has sired more than 160 stakes winners, more than any other stallion.

“Fusaichi Pegasus was a grand-looking horse,” Hancock was saying Monday from his Stone Farm in Paris, Ky. “He was the best-looking horse that ever went to the sales from this farm. We had a strong opinion that he’d turn out to be the real thing.”

Hancock was co-owner of two Derby winners--Sunday Silence and Gato Del Sol in 1982--and bred Gato Del Sol.

“When we put him in the sale,” Hancock said of Fusaichi Pegasus, “we thought he might bring $1 million. Then when we got to Keeneland and heard all the positive talk, we upped our estimate to $2 million. Finally, just before he went into the ring, we had a hunch that he would be the sales topper.”

A spectator at the sale was Neil Drysdale, Fusaichi Pegasus’ trainer.

“He was a magnificent-looking horse,” Drysdale said. “But I had no idea that I might be training him someday. That didn’t come until months later, when I was contacted by one of Mr. Sekiguchi’s representatives.”

Drysdale’s work with A.P. Indy, another high-priced ($2.9 million), Japanese-owned colt, had played a part. A.P. Indy would have been the favorite or second choice in the 1992 Derby, but was scratched the morning of the race because of a bruised foot. A.P. Indy went on to win the Belmont Stakes and the Breeders’ Cup Classic and was voted horse of the year.

Angel Fever, who raced only twice and won once, is in foal to Unbridled, the 1990 Derby winner. Last year, bred back to Mr. Prospector, she dropped a filly that is a full sister to Fusaichi Pegasus. Rather than send her to auction, Hancock and McNair will race the horse, who will be sent to Drysdale.

“I’m not surprised that Neil’s done as well as he’s done,” Hancock said. “After all, he spent a few years early on with Charlie Whittingham [the trainer of Sunday Silence]. That’s like learning from the master.”

Horse Racing Notes

Trainer Bobby Frankel has replaced Brice Blanc with Alex Solis as the rider for Aptitude in the Kentucky Derby. Blanc has ridden Aptitude well--he had a third-place finish in the colt’s last start, in the Wood Memorial--but has never ridden in a Derby. Solis has never won a Derby, but has ridden in the race nine times. He had second-place finishes with Captain Bodgit in 1997 and Victory Gallop in 1998.

Frankel said that Corey Nakatani had called him three times in the last two weeks, asking to ride Aptitude. “I’ll use Nakatani again,” Frankel said, “but I’ve got to punish him for [not riding Cocky] in the Santa Anita Derby.” Nakatani’s mount in the Kentucky Derby is Anees.

These Derby horses had workouts Monday: War Chant, six furlongs in 1:13 4/5; Impeachment and More Than Ready (together), 1:00 4/5 for five furlongs; Graeme Hall, 1:01; Globalize, 1:05; Harlan Traveler, 1:01 3/5; Anees, 1:00 2/5; Deputy Warlock, four furlongs, 49 1/5.

Virginie, according to trainer Richard Mandella, has been retired after chipping a bone in her left foreleg. The 6-year-old mare won nine of 11 starts, including last year’s Beverly Hill Handicap at Hollywood Park.

*

Kentucky Derby

Saturday

2:30 p.m.

Channel 7

(BEGIN TEXT OF INFOBOX / INFOGRAPHIC)

RACE FACTS / No Favoritism

In 1979, Spectacular Bid was the last favorite to win the Kentucky Derby. How the favorites have fared since:

*--*

YEAR FAVORITE FINISH 1999 *Excellent Meeting 5th *General Challenge 11th 1998 Indian Charlie 3rd 1997 Captain Bodgit 2nd 1996 Unbridled Song 5th 1995 Serena’s Song 16th 1994 Holy Bull 12th 1993 Prairie Bayou 2nd 1992 Arazi 8th 1991 Hansel 10th 1990 Mister Frisky 8th 1989 Easy Goer 2nd 1988 Private Terms 9th 1987 Demons Begone eased 1986 Snow Chief 11th 1985 Chief’s Crown 3rd 1984 Life’s Magic 8th 1983 Marfa 5th 1982 Air Forbes Won 7th 1981 Proud Appeal 18th 1980 Rockhill Native 5th

*--*

* Excellent Meeting and General Challenge were an entry.

Since 1979, only four Kentucky Derby favorites have gone on to win a race in the Triple Crown series:

1993 Prairie Bayou won Preakness

1991 Hansel won Preakness, Belmont

1989 Easy Goer won Belmont

1986 Snow Chief won Preakness

Kentucky Derby Probables

Candidates for Saturday’s race, limited to 20 horses:

Horse: Anees

Owner: Thoroughbred Corp.

Trainer: Alex Hassinger Jr.

Jockey: Corey Nakatani

Horse: Aptitude

Owner: Juddmonte Farms

Trainer: Bobby Frankel

Jockey: Brice Blanc

Horse: Captain Steve

Owner: Mike Pegram

Trainer: Bob Baffert

Jockey: Robby Albarado

Horse: China Visit

Owner: Godolphin Stable

Trainer: Saeed bin Suroor

Jockey: Frankie Dettori

Horse: Commendable

Owner: Bob and Beverly Lewis

Trainer: Wayne Lukas

Jockey: Edgar Prado

Horse: Curule

Owner: Godolphin Stable

Trainer: Saeed bin Suroor

Jockey: Undecided

Horse: Deputy Warlock

Owner: Select Stable

Trainer: Ken McPeek

Jockey: Mark Guidry

Horse: Exchange Rate

Owner: Satish and Anne Sanan

Trainer: Wayne Lukas

Jockey: Undecided

Horse: Fusaichi Pegasus

Owner: Fusao Sekiguchi

Trainer: Neil Drysdale

Jockey: Kent Desormeaux

Horse: Globalize

Owner: Litt, Todero et al

Trainer: Jerry Hollendorfer

Jockey: Mike Smith

Horse: Graeme Hall

Owner: Eugene, Laura Melnyk

Trainer: Todd Pletcher

Jockey: Shane Sellers

Horse: Hal’s Hope

Owner: Rose Family Stable

Trainer: Harold Rose

Jockey: Roger Velez

Horse: Harlan Traveler

Owner: Curtis Green

Trainer: Ray Lawrence Jr.

Jockey: Francisco Torres

Horse: High Yield

Owner: Lewises, Magnier, Tabor

Trainer: Wayne Lukas

Jockey: Pat Day

Horse: Impeachment

Owner: Dogwood Stable, Lewises, et al

Trainer: Todd Pletcher

Jockey: Craig Perret

Horse: More Than Ready

Owner: James Scatuorchio

Trainer: Todd Pletcher

Jockey: John Velazquez

Horse: Ronton

Owner: Jaltipan LLC

Trainer: Vladimir Cerin

Jockey: Undecided

Horse: Snuck In

Owner: Ackerley Brothers Farm

Trainer: Steve Asmussen

Jockey: Cash Asmussen

Horse: The Deputy

Owner: Team Valor, Gary Barber

Trainer: Jenine Sahadi

Jockey: Chris McCarron

Horse: Trippi

Owner: Dogwood Stable

Trainer: Todd Pletcher

Jockey: Jorge Chavez

Horse: Unshaded

Owner: Jim Tafel

Trainer: Carl Nafzger

Jockey: Undecided

Horse: War Chant

Owner: Cowan, Clay, McNair

Trainer: Neil Drysdale

Jockey: Jerry Bailey

Horse: Wheelaway

Owner: Caesar Kimmel

Trainer: John Kimmel

Jockey: Richard Migliore

*

For betting purposes, China Visit and Curule will run as an entry; Commendable, High Yield, Impeachment and Trippi will run as an entry.