Report: 2-time Derby winner Reddam will scale back his stable

Two-time Kentucky Derby-winning owner J. Paul Reddam reduce the size of his stable, selling some of his yearlings and racing-age horses later this month.

Reddam, who races alongside his wife Zillah as Reddam Racing LLC, told BloodHorse that his stable ran $300,000 in the negative last month, even after purse earnings. Reddam told Daily Racing Form that he has 74 horses in training, in addition to others at his farm. He plans to sell about 15 of the 40 Reddam Racing homebred yearlings as well as approximately 20 racehorses in training. The horses will be sold at the Fasig-Tipton California Fall Yearlings and Horses of Racing Age Sale on Sept. 27.

Reddam has focused his breeding and racing program on California-breds in recent years, and cited the reduction in stakes and purses for horses bred in the Golden State as a reason he was scaling down his operation. Reddam told BloodHorse, "They just cut, cut, cut the purses. They're not anything like they were 10 years ago. They used to have races like the Sunshine Millions, it was a $1 million race and there was another $500,000 race on the card; you might not ever win those races, but at least you had something to aspire to."

Reddam also told the Daily Racing Form that he would focus on selling the bottom end of his racing operation, and would not offer Slow Down Andy for sale. A son of Reddam's 2016 Kentucky Derby winner Nyquist, Slow Down Andy is the only graded stakes winner in the Reddam Racing silks this year. The homebred won the Sunland Park Derby (G3) on dirt March 27, and upset the Del Mar Derby (G2) on the grass last Saturday.