THE SPENDTHRIFT WAY B Wayne Hughes established Spendthrift in Kentucky with strong principles anchoring his decision-making processes. Never one to shy away from new ideas and innovations, Hughes formulated an approach aimed at keeping costs down and looking after the broodmare owner. “With his experiences early on in the game, Mr Hughes learned a lot as a small breeder,” Spendthrift Australia’s General Manager Garry Cuddy explained. “He might’ve had a few difficulties along the way which helped open his eyes to these game-changing moves.”
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Following on from this first-hand experience and putting his money where his mouth is, Hughes initiated two innovative breeding schemes: Breed Secure and Share The Upside. Spendthrift Australia have also implemented the same bold strategies, which became even more important for the 2020 breeding season in a world of COVID-19 presenting enormous economic challenges to businesses. “We have to take care of the breeders, and I think sometimes that is overlooked,” said Mr Hughes. “If we don’t have a breeder, then we can’t get a mare, so we don’t have a foal, and our stallion is worthless. You have to think about that.” Hughes views his programs as creative ways to try and improve the industry across the board while also helping his stallions get better books. “We are going to do what is best for ourselves and for the industry,” he said. “It’s not something we are doing as a favour. The reality is for us it is good, and for the breeders it is good.” “If we lose the breeders, we won’t have any farms or stallions. We are all in this together. The whole industry needs each other. Nobody is standing alone in this business, and that’s something we all need to bear in mind.”
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Spendthrift Australia 2020
