How did you get into racehorse ownership?

I first got involved with owning racehorses with some American friends in the 1990s. We had two horses, New York Rainbow and Twin Rainbow, in training with the late Paddy Osborne (RIP).

We were very lucky with these two and we sold New York Rainbow to the UK for £100,000 for a nice profit.

In 2010/2011, I decided to go on my own as an owner and joined Tony Martin’s yard. To be honest it was very lucky how I met Tony which was over 20 years earlier in JFK airport when he was going out to ride horses and I was on my way to the States for business.

What was your best day at the races and why?

I’ve had a few. The first is Ted Veale winning the County Hurdle at Cheltenham March 2013. It’s every National Hunt owner’s dream to win at Cheltenham and to hear the roars and applause when my horse came in is something I will never forget.

The next is Living Next Door winning the Paddy Power Chase at Leopardstown’s Christmas meeting in 2014.

Then there was Quick Jack winning the Galway Hurdle in 2015. That was an emotional day for me, never dreaming I would win the Galway Hurdle. Quick Jack had been unlucky in the County Hurdle and the Chester Cup on his two previous runs.

In all the three horses won approximately €1 million which helped to defray some of the costs.

What is the biggest drawback about being a racehorse owner?

This game would tame lions. For every good day, there have been plenty of bad days. There can be so many injuries and setbacks and I have lost quite a few.

I believe this is the biggest drawback about owning horses.

Then costs – apart from the training fees add in all the associated costs, entry fees, vets’ bills. An owner needs to have his or her horse racing as much as possible to try and win as much as possible. They earn no money standing in the box.

Which racecourse in Ireland treats owners the best and why?

In the last few years there has certainly been an improvement to the standards of owners’ facilities on tracks and the bigger tracks such as Leopardstown, Punchestown, Fairyhouse and Galway do a good job.

Not all owners can afford a private box of course but I must say that the owners’ and trainers’ facilities at Leopardstown are excellent. You can have a proper meal and a full bar for all owners on the day. There are also excellent large TV screens to keep up with the racing. Some of the screens at the smaller tracks are antiquated.

It would be difficult for all tracks to copy Leopardstown but they should take a leaf out of Leopardstown’s book. Pat Keogh and his team put in a big effort.

Flat or jump racing – which do you prefer and why?

I prefer jump racing but I’ve done well on the flat so dual-purpose horses who can race in both codes are ideal. At the end of the day, I like to aim for the decent handicaps on the flat which have substantial prize money.

What qualities do you look for in a trainer?

I have used Tony (Martin) as my trainer for over five years and I have total trust in and respect for him. I am treated very fairly – he’s a very good trainer and a good friend.

We talk three or four times a week. He keeps me informed as to how the horses are progressing or not. All owners must be kept informed.

Every time I go home (from the USA) I head to A.J. Martin Racing. I like to see my horses up the gallops in the flesh and Tony tells me which ones are progressing or deteriorating and tells me to pull the plug on a horse if necessary.

What improvements would you like to see racecourses in Ireland do for owners?

All courses should treat owners with great respect, without them there would be no racing. Everything should be done to ensure the owners and trainers have the best possible experience on the day.

A reasonable number of guest tickets should be allowed, especially for syndicates and partnerships where they are bound to spend money on course and decent catering facilities must be provided.

There should also be assigned parking spaces for the owner on the day, not too far away from the course entrance so that you and your guests don’t have to park miles away on the road.

How do you feel owners are treated when not having a winner?

Again, all owners should be appreciated win or lose.

What significance do your colours hold?

I was reared in Kells, Co Meath so the green and yellow or gold represent that county and not Kerry as a few Kerry lads think!

When buying a horse, what do you look for?

I’ve no set rules, normally Tony advises me. I use Toby Jones who is always on the lookout in France and I have always been lucky buying horses from my good friend, Maurice Reagan of Newtown Anner Stud.

What horses do you currently have in training?

Among quite a few are: Ted Veale, Quick Jack, Magen’s Moon, Bobby Diamond, Sweet Company, Acclamatio, Tudor City, Fullmoon In Paris, and Maid In Manhattan.

What’s next on the agenda for your horses?

Unfortunately I’m not racing winter ground horses at the moment but I have younger horses who are taking a break and will be out in the spring.

However, Tony is hopeful of having a few for Leopardstown at Christmas.

Have you any horses to look forward to? (i.e. young/unbroken horses)

Some nice two and three-year-olds who are progressing well.

Dermot Carey, who runs the farm in Dunsany, is doing a great job at bringing them along. I have a Big Bad Bob colt, two nice fillies by Tamayuz and Califet and a nice three-year-old by Ask.

What would help to make Irish racing more competitive for the smaller owner/trainer?

It’s very difficult to say. Small owners with one or two horses cannot compete against the bigger owners unless they have a superstar, which is rare.

If you are going down the handicap route and your horse wins, the handicapper can raise it by 7-15lbs which makes it difficult to get another win. Then if your horse doesn’t win under those conditions they only drop down the weights by 1lb or so and it takes three or four months for that horse to race at a competitive level.

The handicapper should look at the calibre of the horse before allocating weight.

On the whole, big owners want the top graded races. There should be a lot more races with decent prize money for lower grade horses. It would help new owners get into and then stay in the game. I’m not getting at the big owners, they are terrific supporters of Irish racing, but the smaller owner’s horse must be allowed compete for proper reward.

What advice would you give to someone thinking of becoming a racehorse owner?

It’s very difficult to advise someone how to spend their money! There are more downs than up in racing so savour every winner. It’s a great feeling when your horse crosses the line and wins in your own colours.

Associate with a good trainer, get advice on pedigrees, and share the costs in a syndicate or partnership. Enjoy the days out; Irish racing is a totally different game than, for instance, US racing. It’s much more personal and intimate and there’s a great social interaction between owners and trainers.

Irish racing has come a long way and what great trainers like Willie Mullins and Aidan O’Brien have done for the sport and industry is terrific.

John Breslin was in conversation with Olivia Hamilton