Spendthrift Farm LLC
$5,021,285
2025 earnings
28%
2025 wins
$27,447,683
lifetime earnings
racing Record
2025 Stats
Career Stats
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32
Firsts
231
9
Seconds
150
14
Thirds
145
60
Unplaced
591
115
Starts
1,117
$5,021,285
Earnings
$27,447,683
$43,663
Earnings / Start
$24,573
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Bio
The historic farm, which was home to Triple Crown winners Seattle Slew and Affirmed, originally was purchased by Leslie Combs II in 1937. It descended into bankruptcy amid the crash of the Thoroughbred market in the late 1980s and early 1990s, and Combs died in 1990. Ted Taylor purchased the main 496-acre tract of Spendthrift at a court-ordered bankruptcy auction in 1994. The next buyer was Bruce Kline and partners in 2000, then B. Wayne Hughes stepped in and helped restore it to glory.
The historic farm, which was home to Triple Crown winners Seattle Slew and Affirmed, originally was purchased by Leslie Combs II in 1937. It descended into bankruptcy amid the crash of the Thoroughbred market in the late 1980s and early 1990s, and Combs died in 1990. Ted Taylor purchased the main 496-acre tract of Spendthrift at a court-ordered bankruptcy auction in 1994. The next buyer was Bruce Kline and partners in 2000, then B. Wayne Hughes stepped in and helped restore it to glory.
Hughes was introduced to racing by his father, who was a factory worker. In 2004, he bought Spendthrift Farm in Lexington, Ky. In 1972, driving along a Texas road, Hughes noticed a self-storage warehouse loaded to capacity, thought about the concept, and founded Public Storage. He parlayed a $50,000 investment into a fortune worth billions. Hughes also created and supported the Parker Hughes Cancer Center in Minnesota, named after a son who died of cancer at age eight.
Among Hughes' biggest stable stars was Beholder, a three-time Breeders' Cup winner and four-time champion. Spendthrift also co-owned Authentic, the 2020 Kentucky Derby Presented by Woodford Reserve and Longines Breeders' Cup Classic winner and Horse of the Year. Hughes and Spendthrift also enjoyed success as a breeding operation. Into Mischief, a Grade 1 winner campaigned by Hughes and a full brother to Beholder, became one of North America's leading sires, with Authentic among his progeny.
Hughes passed away Aug. 18, 2021, and Spendthrift is now owned and operated by Eric and Tammy Gustavson with Ned Toffey serving as general manager. Spendthrift enjoyed a terrifc summer in 2025 with Grade 1 wins by 2-year-olds Tommy Jo and Ted Noffey, humorously named for a clerical error with regard to his namesake Ned Toffey. Ted Noffey won the Grade 1 Spendthrift Farm Hopeful Stakes at Saratoga, the Grade 1 Claiborne Breeders' Futurity at Keeneland, and capped a championship campaign with a victory in the FanDuel Breeders' Cup Juvenile Presented by Thoroughbred Aftercare Alliance at Del Mar.
