Triple Crown worth plenty
Published 9:48 am Thursday, June 5, 2014
NEW YORK — California Chrome’s bid for the Triple Crown on Saturday is likely to boost TV ratings and, if he wins, create a star for a sport that could badly use one.
Racing insiders say that if California Chrome becomes the first Triple Crown winner in 36 years, his breeding value is likely to be between $15 million and $20 million. That’s a stunning return for owners who paid $8,000 for the horse’s mare and another $2,500 to breed her to a stallion with a mediocre racing record.
The horse could bring in millions more in sponsorships and book and movie deals. Shoe company Skechers just announced it will put its brand on California Chrome caps, clothes and horse blankets — financial terms weren’t disclosed — and more deals are sure to follow if Chrome wins Saturday.
The payoff, however, might fall short of expectations set by Chrome’s team. Before the colt won the Kentucky Derby, his owners said they rejected a $6 million offer for a 51 percent share in the horse. After he won the Preakness, his trainer declared that he was worth $30 million.