How did you get into racehorse ownership?

I have been involved in the industry for over 15 years but I have only been a racehorse owner for a few. I’m from Kerry originally and from a dairy farm background.

I started off in racing with John Oxx and went from there.

My primary involvement is as a breeder and seller of young stock. Owning racehorses either occurs at the end of a race-filly’s career attempting a win before she retires to stud or retaining unsold yearlings who have failed to sell at auction and we are forced to try and trade them with some form on the track.

What was your best day at the races and why?

Will Be King winning in Dundalk in December. He deserved to be a winner and it was a long, educational journey to the winner’s enclosure.

What is the biggest drawback about being a racehorse owner?

The simple fact that winning a race, any race, in the ultra-competitive Irish racing circuit is very difficult.

In your experience, which racecourse in Ireland treats owners the best and why?

Owners don’t expect the red carpet treatment, just a few little perks above that of a general admission ticket. I haven’t visited many tracks as an owner as often as Dundalk but I find it has a good system and I always feel welcome and I have always enjoyed my time there.

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

Flat. I breed flat horses and find it hard enough to keep track of one code.

What qualities do you look for in a trainer?

I have been lucky with the trainers I have used, they are either established or really promising younger trainers. Any trainer is only as good as his team, riders, and facilities really but the simple quality that I can’t look beyond is that they are winning races consistently.

Joseph O’Brien’s team at the track and riders really leave no stone unturned and it’s no wonder he gets the best out of horses.

What significance do your colours hold?

My wife Jacqueline designed them, I like them.

When buying a horse, what do you look for?

The sales ring is unforgiving and an ever-changing environment. All the horses we have raced failed to sell in the ring and some failed three or four times!

In recent years demand for stock in the middle and lower market has decreased significantly. While in one way, this is healthy as it encourages breeders to produce a better calibre of animal, many of these horses have very little wrong with them and are perfectly suited to the racecourse.

Night Of Thunder is a perfect example of this mismatch between a sales’ horse and a racehorse. He had an incredible pedigree but didn’t tick enough boxes in the sales ring and only fetched 32,000 guineas, yet he won the 2000 Guineas on the track.

Initially at stud he again wasn’t the most sought-after, then his first crop hit the race tracks, and he is now one of the most sought-after sires in the world.

Sometimes it pays to follow your gut and show that you believe in what you are producing. I really like big, strong horses like Would Be King (sold to Gaelic Bloodstock) who got blacktype for Ger Lyons and Could Be King (sold to Rick Barnes) who also got blacktype for John Oxx.

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

All two-year-olds are still machines at this point in time. I have two colts by Twilight Son and Buratino that are progressing nicely. The dream is still alive!

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

I really class myself as a part-time owner and full-time breeder. Owners are a vital part of our ecosystem and it must be a symbiotic relationship. We need to entertain the owners we have by remaining loyal to them and not taking advantage.

Some owners come into racing from different worlds where they have made hard-earned money and have succeeded through business acumen. They are not necessarily familiar with the training and racing of horses. They are prepared to spend disposable income on racehorses and are hoping for the exhilaration and enjoyment that goes with that. They deserve every respect and courtesy.

When attracting new owners in order to get their attention they need to catch the bug!

This means involving them in the build-up to a race so they get equal pleasure from that rush and the preparations when your horse is looking like it has the potential of winning a race if the plan comes together on the day.

The reality is that most horses will never get above 65, but we need the owners to enjoy the ‘buzz’ and want to come back next year and win it. A bird in the hand is worth two in the bush!

Dundalk had a champions’ day concept (Winter Series Awards day), which horses qualified for and got to run for increased purses. A great idea as for a trainer it creates a target that can help get an owner interested.

The points system also allows the trainer actually train and plan rather than just pray they aren’t balloted out on the big day.

Why couldn’t we have a 30-runner 0-65 at the Curragh on Oaks day for €30,000 and again at the end of the season? Give new owners a day at the Curragh, I’m sure the bookmakers wouldn’t complain! Will the owner of this year’s Irish 2000 Guineas winner miss €60,000 in prize money?

Introduction of claimers and auction races are really positive moves in recent years and are very helpful in boosting increased competition which is great for the small owners and trainers.

The introduction of barrier trials is also a welcome development and ITM deserve credit for that.

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

Certainly give it a go but walk before you can run. Don’t bite off too much at the start. Develop a rapport with an agent or trainer, particularly a young trainer or a vendor. You can develop the relationship and over time loyalty can grow between you and be rewarded.

Michael Buckley was in conversation with Olivia Hamiltom