Tiz the Law, the brilliant colt that demolished an overmatched field in the 152nd running of the Travers Stakes at Saratoga Race Course last Saturday, has a local connection.
The 3-year-old colt is jointly owned by 35 partners of Sackatoga Stables in Saratoga Springs. One of those owners is telecommunications entrepreneur and investor Larry Davis, who has a full share in Tiz the Law. He is a partner in the Sans Souci in Cleverdale, and started Tiki Tours on Lake George a few years ago.
“About 12 years ago I got involved with Sackatoga Stables,” Mr. Davis told Glens Falls Living from his home on Lake George’s east side. “There’s nothing like it. The excitement is amazing. I like to do fun things, as you can gather from the Tiki boats. I am partners in a number of bars. You’re probably familiar with the Sans Souci up here. Then Nanola down in Malta and McGeery’s down in Albany. Bars and horses are expensive habits. You don’t make a lot of money but when you do, it’s a big treat.”
Tiz the Law, purchased for $110,000 at the Fasig-Tipton sales in Saratoga, might be the best investment Mr. Davis ever made.
The horse won the Belmont Stakes in this topsy-turvy pandemic Triple Crown season, and now has won six of seven races, with career earnings topping $2-million.
But that’s not all. Sackatoga Stables, run by Jack Knowlton of Saratoga Springs, sold the stallion rights to Tiz the Law for a reported eight figures. That’s a minimum of $10-million, though the exact figure is probably significantly higher. Champion thoroughbred horses can command upwards of $200,000 each time they are bred.
Mr. Knowlton told the New York Times that Sackatoga Stables, which entered the public’s consciousness in 2003 with Funny Cide, will earn bonuses if Tiz the Law wins the Derby, the Preakness and the Breeders’ Cup Classic.
The Times reports, “Ashford Stud structured a bonus deal for the 2015 Triple Crown Champion American Pharoah that promised his owner, Ahmed Zayat, $3 million for winning the Kentucky Derby, $2 million each for victories in the Preakness, Belmont, Travers Stakes and Breeders’ Cup Classic as well as a $2 million bonus for being named 3-year-old male champion.
“Do the math: A similar deal would mean a potential $13 million for Sackatoga to roll up this year.”
Asked about the deal, Mr. Davis said, “I can’t talk about the breeding rights.”
He did say that Tiz the Law, if he stays healthy, will continue racing as a 4-year-old.
“That was part of the deal,” he said.
For now, Tiz the Law will take on all comers in the Kentucky Derby on Saturday, Sept. 5. After that, it’s the Preakness Stakes at Pimlico in Maryland in October, and then the Breeders’ Cup Classic in November.
Mr. Davis was at Saratoga to see Tiz the Law cruise to victory.
“That was exactly what our trainer had predicted and those were the instructions our trainer Barclay Tagg had given [jockey] Manny Franco. The race was almost a duplicate of the Belmont Stakes. Sit on the outside, third or fourth position, and then fire.
“After the race, Manny said he tried to hold the horse back at the far turn but he couldn’t. The horse just took off. Then when they got down to the top of the stretch, the horse went into another gear.”
Mr. Davis said he joined Sackatoga Stables in 2009.
“We pick one or two horses every year. We’ve got a business plan that says we buy New York breds. We had a list of 10 horses to start after reading the yearling books. We whittled that down to five or six after Barclay looks at them and we bring in a vet to look at the horses. Then we get it down to one or two and go to the auction to see what we can do.
“The one thing about Tiz the Law is, our budget for that horse was $100,000. Everybody loved the horse so they decided they were going to go to $110,000, but that was it. Boy that was probably the best decision anyone has made in a long time.”
Mr. Davis will be headed to Kentucky for the Derby on Sept. 5. Then he’ll go to the Preakness in early October, and back to the Breeders’ Cup at Keeneland in Kentucky in early November.
“My understanding is there may not be 20 horses in the Derby,” he said. “There may not be the cavalry charge as I call it. That will be very good for us too. That’s one of the things that could have thrown a monkey wrench in the works. We’re all feeling very good right now.”
And you can forgive Mr. Davis for looking ahead to the world’s richest race, the Dubai World Cup, in March of 2021.
“I’m getting my passport ready,” he said.