Cover image courtesy of Tattersalls
Bren O'Brien: Troy, thanks for your time. Talk us through what took you to Newmarket all the way back in 2002?
Troy Steve: I was nearing the end of my degree on the Gold Coast and contacted Magic Millions to see if there might be any opportunities with them. David Chester kindly saw me and said that I needed stud farm experience. I had some racing experience but had never worked on a farm. I have UK Ancestry so a visa was easy and a couple of mates were in London playing rugby at the time so I headed over. I came up to Newmarket and started cold calling at farms, I was offered a position at Kirsten Rausing's Lanwades Stud and had two most enjoyable seasons there. A couple of people knew that I was looking to get into the bloodstock side of things and were very helpful in making sure I was with the farrier and the vet as much as possible.
BO'B: When was the stage when you realised that the move for you was going to be permanent?
TS: I met Andrew Mead and Marion Goodbody in early 2003, I completed my second season at Lanwades and started with them later that year. My time working for them coincided with Castlebridge Consignment getting going. After a couple of years, as Castlebridge grew rapidly, they were doing less agency work and Mead Goodbody became Troy Steve Bloodstock in early 2008. I suppose thinking back that was probably the point at which I was committed to staying though it was never a conscious decision.
Troy Steve inspecting yearlings | Image courtesy of Tattersalls
BO'B: Talk us through how your bloodstock business has evolved over the past 15-20 years?
TS: It is far from an exact science and I have made my share of mistakes (slow horses, horses the market didn't want the following season, bad mating decisions) but evolving the business for me is about acquiring knowledge (through my experience and learning from those pals and colleagues that are better at it than me) and taking lessons from the mistakes. The aim being to limit those mistakes (they will still come), and provide the best advice I can for my clients in the future.
BO'B: And what have been your greatest success stories over that period?
TS: Marcel (Ire) (Lawman {Fr}) (bought for 26,000 gns (AU$51,870), for a great supporter of mine Paul Hancock) winning the Racing Post Trophy in 2015 was absolutely brilliant and hopefully Flighty Lady (Ire) (Sir Percy {GB}) will fly the flag this year in France (she was sold after finishing third in the Marcel Boussac). Top level success is the ultimate aim for us all in this game but a lot of satisfaction does come too from getting things right for clients as well - a pinhooked foal returning a nice profit, a commercial breeder getting a result with progeny on the track or a potential pedigree update that you identified coming to fruition. We have to operate within the client's means obviously and achieving the objective that they set you is very rewarding.
Watch: Marcel (Ire) win the G1 Racing Post Trophy
BO'B: We have seen a massive change across the world in the past couple of months with the outbreak of COVID-19, how has this affected your business and the way you conduct it?
TS: Business in terms of earnings has been slow but the mares are still foaling down and being covered and the racehorses are still in work so that liaison work carries on. Evaluating stock by photo and video rather than a farm/yard visit or seeing them on the gallops has become the norm - it will be interesting to see how that compares when we do get to see them in the flesh.
"Evaluating stock by photo and video rather than a farm/yard visit or seeing them on the gallops has become the norm." - Troy Steve
BO'B: How hard is it to plan out your calendar with so much uncertainty around both international travel and sales dates?
TS: I have honestly not even looked at any of that as yet.
BO'B: Does it change your strategy and approach to your business going forward?
TS: Business that would normally arise with racing and farm visits has not been there but there will be opportunities when we do resume. I have strong relationships with a relatively small client base where I am quite involved in many of their day to day bloodstock decisions and future strategies so adapting and being ready to take advantage of opportunities will be foremost when things get back to normal...whatever normal might mean going forward.
Troy Steve | Image courtesy of Tattersalls
BO'B: We have seen racing brought to a halt across the world, but not in Australia. From an external view, how important do you think that will be for the Australian thoroughbred industry in getting through this?
TS: I think that having continued racing behind closed doors provides the Australian industry a massive advantage compared to the jurisdictions where racing has halted. Not so much from a competitive point across jurisdictions but the sport of racing around the world is supplied by, or catered to, by a very large supply chain that employs thousands. And although those roles are wide and varied the end goal of each of those component parts is producing racehorses. With no racing taking place the entire supply chain has no confidence.
BO'B: And your overall impressions of where the Australian industry is at, at the moment?
TS: It seems to me that it is flying. I was at Magic Millions for a couple of days and only viewed a short list of yearlings but the competition for stock was very strong and the Easter Sale appeared to hold up really well under the circumstances. The prizemoney situation makes the sport accessible to a greater percentage of the population which provides great opportunities. Owners are the life blood of the sport, and the industry the sport supports, and making the game as appealing to them as possible has to be our top priority wherever we are in the world.
"Owners are the life blood of the sport, and the industry the sport supports, and making the game as appealing to them as possible has to be our top priority wherever we are in the world. " - Troy Steve
BO'B: Do you have an Australian influence in your clientele?
TS: Not a great deal of influence, I do a couple of deals each year for horses to go home - racehorses and fillies/mares plus I have a couple of Aussie friends with bloodstock interests in Europe (the odd mare and several stallion shares) which I get involved with as well.
BO'B: Any thoughts of returning to Australia in the medium or long term? Or is it a case that the UK will always be home.
TS: I would very much never say never. I am settled here with my family and there are no plans to head home but we work in a global industry and who knows what opportunities might present in the future. It has been 18 years but I still have the odd moan about the UK weather...so you never know!
