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MEET THE COUNCIL Stephen Smith, ROA Vice-President What is/was the day job? I am fortunate to be retired. I was Head of Global Strategy for the Seagram Spirits and Wine Group, based in New York. Seagram, of course, sponsored the Grand National and owned Martell, so the Grand National meeting became one of the highlights of my racing year. This included the drama of the 1997 race and the bomb scare, when we had to evacuate 600 global guests. Previously I had various international consumer marketing roles with Seagram, Mars and Procter and Gamble.
Why did you get involved in racing politics and what do you bring to the ROA Council? Since I retired, I have been able to spend more time pursuing my passion for the sport. Standing for the ROA Council six years ago seemed an ideal opportunity to extend that involvement and support both the sport and owners. That year there were six places available and I sneaked on to the Council in sixth place! I hope to bring to the Council both industry knowledge and enthusiasm, along with my business skills and expertise. This hopefully will help contribute to both the debate and the development of practical solutions to the problems and challenges that we face.
How has your background/ upbringing influenced your views? Racing is in my genes; my grandfather, Hector Smith, bred, owned and trained horses at his Gloucestershire stud. The very first horse he owned, The Hack, won at the last Cheltenham Festival held before the war shut down racing in the 1940s. The last horse he bred and raced, Snowshill Sailor, won the Mildmay of Flete at the 1980 Festival, a year after he died. He also bred Windy City, one of the highest rated juveniles since the war. As a small boy, I can remember watching his horses on the gallops at his stud. As a teenager at Cheltenham College, I missed school to attend the Festival; I still have my Junior Cheltenham Members’ badge from 1972! I have been a member ever since and have rarely missed a day at the Festival.
levels achieved in 2009, owners’ overall cost recovery remains at an unacceptable level at 21%, compared with, for example, 54% in France. Secondly, we need to continue to improve the owner’s experience. Both Jockey Club Racecourses and Arena Racing Company have been looking to invest in this area across their courses, and it is hoped this will encourage other tracks to raise the bar.
How long have you owned horses and how much success have you had? I have had interests under both codes for the past 25 years; the first horse I had a share in was Meteor Miss with Peter Cundell. She won at Warwick on her second outing and I was hooked! Imperial Brush with David Elsworth was an effective dual-purpose horse, winning a number of handicap hurdles. Creative Time with Henrietta Knight was my first winner in the family colours at Stratford, while Harris Bay, also with Hen, was the most successful horse I was involved with, winning nine races, including the 2007 United House Gold Cup at Ascot.
“Sandown is a great
course to be associated with and is the ideal venue to introduce novice racegoers”
What are your goals at the ROA? Improving prize-money has to be the number one priority. Whilst hopefully this year we will see a recovery in prize-money towards the peak THOROUGHBRED OWNER & BREEDER INC PACEMAKER
Harris Bay (far side) en route to victory in the United House Gold Cup at Ascot
I now own 50% of a couple of horses with Tom George – Ballyallia Man, who has won three chases so far, and a recently purchased French-bred, Henri de Boistron. Of course, there is also a long list of others that were less successful! A Cheltenham winner in the family colours remains an as yet unfulfilled ambition.
Are you involved with any other racing organisations? I am a director of Sandown Park, and was formerly Chairman of the Race Committee at the course. Sandown is a great course to be associated with. Flat or jumps, small or large fields, you are always guaranteed a stirring finish up the Sandown hill. It is also an ideal racecourse to introduce the novice racegoer to the sport, with its natural amphitheatre for viewing and convenient paddock and unsaddling enclosure.
What do you love/hate about racing? As an owner, the winning days are amazing. But for most of us they are infrequent, so the excitement and adrenalin rush of a win must be celebrated and savoured. But with the highs of ownership, there are also the lows, and in particular the dreaded phone call from your trainer that your horse is injured. As a racegoer, I love the excitement and competitiveness of racing at the major festivals, and in particular the challenge of trying to find the long-priced winner of a big field handicap! I also love the variety of our racecourses.
Where would you like the sport to be in five years time? We want a thriving sport offering the racegoer and punter a competitive and appealing spectacle, the owner a fair return in terms of improved prize-money, and an industry that works together to promote and grow the sport. The concern is that the business model will need to change. Since 2008, horses in training have declined 11% and registered owners have declined 14%, yet we maintain around 1450 fixtures a year. As a result, racing is now less competitive, as measured by declining average field sizes. This in turn reduces the attraction to both the betting shop punter and racegoer. We may be able to fine-tune the current race programme to better meet the needs of the reduced horse population, but if not, the number of fixtures may need to be reduced.
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