America’s Best Racing correspondent Tom Pedulla reflects on his top 10 stories in Thoroughbred racing in 2025:

Lukas alongside Preakness winner Seize the Grey. (Eclipse Sportswire)

MAJOR IMPACT: Racing lost a legend when D. Wayne Lukas, the famed “Coach,” died on June 28 at age 89. Lukas made an indelible mark on the sport with 15 Triple Crown victories, including four Kentucky Derbies, and 20 Breeders’ Cup triumphs. He finished with 4,967 wins and more than $310 million in earnings. His family said in a statement, “Wayne devoted his life not only to horses but to the industry, developing horsemen and horsewomen and growing the game.” Even in the twilight of his career, Lukas would use a stepladder to climb aboard his pony so that he could watch his horses as closely as possible during training hours. “The most important decision you’ll ever make in your life is your attitude decision. Make it early and make the right one,” he said in responding to a question about his longevity. Lukas was a great ambassador for the game, often inviting children he did not know into the winner’s circle.

Sovereignty. (Candice Chavez/Eclipse Sportswire)

SOVEREIGNTY RULES: Godolphin homebred Sovereignty overcame a daunting trend when he rallied from far back and then outdueled favored Journalism to win the Kentucky Derby presented by Woodford Reserve by 1 ½ lengths for trainer Bill Mott and jockey Junior Alvarado. Horses like Sovereignty with only two Derby preps had gone 0-for-47 in the run for the roses since 2016, and yet Mott had his Into Mischief colt as ready as he could be after a victory in the Coolmore Fountain of Youth Stakes and a runner-up effort in the Curlin Florida Derby. Mott, now 72, earned his second Derby victory. His first was bittersweet when stewards elevated longshot Country House to first due to interference by Maximum Security. “This one got there the right way,” Mott said of the team effort involved in Sovereignty's dazzling performance.

Forever Young strides home ahead of Sierra Leone and Fierceness. (Eclipse Sportswire)

HUGE BREAKTHROUGH: Forever Young posted a landmark victory when he became the first Japan-based horse to win the $7 million Longines Breeders’ Cup Classic in the race’s 42-year history. After finishing third to Sierra Leone and Fierceness last year, he turned the tables by fending off Sierra Leone by half a length at Del Mar. Fierceness settled for third. Avenging that result in North America’s richest race meant a great deal to owner Susumu Fujita. He described the triumph as “my dream” and said with the help of a translator, “Fierceness and Sierra Leone will be retired, so this was my last chance against these guys.” Trained by Yoshito Yahagi and ridden by Ryusei Sakai, Forever Young prevailed for his 10^th win in 13 starts while his career bankroll ballooned to $19,358,590.

Spendthrift Farm and Ned Toffey pose with Ted Noffey. (Eclipse Sportswire)

LEADING JUVENILE: Ted Noffey stamped himself as the early 2026 Kentucky Derby favorite when he put an exclamation point on a 4-for-4 campaign by winning the $2 million FanDuel Breeders’ Cup Juvenile presented by TAA by one length at Del Mar. The name of the Into Mischief colt, a $650,000 purchase by Spendthrift Farm at Keeneland’s September Yearling Sale, was an errant but well-meant attempt to honor Spendthrift general manager Ned Toffey. Ted Noffey, though, did nothing wrong in breaking his maiden on Aug. 2 at Saratoga, ruling the Spendthrift Hopeful Stakes by 8 ½ lengths and then passing his first two-turn test in the Oct. 4 Claiborne Breeders’ Futurity at Keeneland before continuing his success with the Breeders' Cup victory for trainer Todd Pletcher and jockey John Velazquez. Pletcher views Ted Noffey as the total package. “Aside from his natural talent and ability, he’s got a terrific mind to go along with that,” Pletcher said. “That really helps.”

Mott and Alvarado celebrate Travers win. (Eclipse Sportswire/Carlos J. Calo)

MOTT’S TRAVERS: Bill Mott filled in one of the few missing holes on his resume when Sovereignty demolished his rivals by 10 lengths in the $1.25 million DraftKings Travers Stakes, ending a 0-for-13 drought in the Travers. Mott had finished second in the race three times, most recently in 2019 with Tacitus. Mott made clear how much success in the “Mid-summer Derby” meant to him when he said, “We race primarily in New York now. Two Kentucky Derbies are great, but I must say, for me, I think the Travers is a great race to win. It’s very satisfying and gratifying to get that done.” The margin was so comfortable that track announcer Frank Mirahmadi had time to say, “Congratulations to Bill Mott. There’s your Travers.”

Thorpedo Anna. (Candice Chavez/Eclipse Sportswire)

SPECIAL FILLY: Thorpedo Anna, who last season joined Rachel Alexandra as the only 3-year-old fillies ever to win Horse of the Year, was retired in October due to minor bone bruising. A $40,000 yearling purchase by trainer Ken McPeek, the daughter of Fast Anna won 12 of 16 starts with two second-place finishes for earnings that surpassed $5.4 million. Her brilliance was underscored by 10 graded stakes wins. “We’re really proud of her,” McPeek said in a statement announcing her retirement. “She’s had tremendous support. Thank you to all the fans that have cheered her on during her career.” Thorpedo Anna now joins the broodmare band at Hill ‘n’ Dale Farm at Xalapa in Lexington, Ky.

Journalism wins 2025 Preakness. (Eclipse Sportswire/Tim Sudduth)

TREMENDOUS RECOVERY: If there was an award for sportsmanship, it should go to Journalism’s connections, and if there was an award for bravery, it should go to the horse itself. The son of Curlin, trained by Michael McCarthy and ridden by Umberto Rispoli, seemed headed for certain defeat in the Preakness Stakes when he was trapped between horses while Gosger opened a five-length gap at the eighth pole. Journalism bulled his way out of trouble, switched leads, and launched an extraordinary closing kick to overtake Gosger by half a length. “This victory symbolizes so much about life,” said Aron Wellman, who heads co-owner Eclipse Thoroughbred Partners. “It took guts for Michael McCarthy to make the call to come here. It took guts for Umberto Rispoli to get sideswiped and threading the needle and powering on through and it took guts from an incredible horse to somehow will his way to victory.” Journalism was the only horse to compete in all three legs of the Triple Crown as part of an eight-race campaign that culminated in a solid fourth-place finish against older horses in the Breeders’ Cup Classic.

Fierceness wins Pacific Classic. (Scott Serio/Eclipse Sportswire)

TREMENDOUS RECOVERY II: When jockey John Velazquez tried to hustle Fierceness from the starting gate in the Pacific Classic Stakes, his mount overreacted and briefly headed toward the inside rail at Del Mar. He quickly recovered and went on to a rousing 3 ¼-length victory against Journalism. It was one of many stirring scores for owner Mike Repole’s homebred during a three-year career in which he won half of his 14 starts and made three Breeders’ Cup appearances, capturing the 2023 FanDuel Breeders' Cup Juvenile presented by TAA before second- and third-place finishes in the Classic. Fierceness, hailed as a “brilliant horse” by Pletcher, banked more than $5.7 million lifetime. He was retired to Coolmore America’s Ashford Stud.

Fasig-Tipton Saratoga sale. (Eclipse Sportswire)

FAVORABLE LEGISLATION: The horse industry, and in particular the breeding sector, benefited from changes to depreciation and business deductions included in a massive budget reconciliation act passed by Congress in summer 2025, known as the “One Big Beautiful Bill.” Soon after its passage, Fasig-Tipton’s Saratoga Sale and Keeneland’s September Yearling Sale soared to record highs. The two-night Fasig-Tipton auction reached gross sales of $100,715,000, a 22.6 percent increase over $82,160,000 the year before. Keeneland reached the highest gross for any international auction when 3,070 horses brought $531.5 million. “We definitely had reasons to be optimistic going in, but the strength of the results day after day exceeded even our expectations,” said Shannon Arvin, Keeneland’s president and chief executive officer, of the unprecedented demand.

Godolphin's Sheikh Mohammed bin Rashid Al Maktoum. (Eclipse Sportswire)

GODOLPHIN POWERHOUSE: Sheikh Mohammed bin Rashid Al Maktoum’s commitment to excellence with his international breeding and racing operation has been richly rewarded. Through the opening week of December, Godolphin dominated the standings among breeders with $26,444,915 in earnings. WinStar Farm ranked at distant second at $11,021,938. Godolphin’s huge year was highlighted Kentucky Derby weekend when then undefeated Good Cheer won the Longines Kentucky Oaks before Ruling Court took Britain's 2,000 Guineas. Then came the most significant win of all when Sovereignty provided Godolphin with its first Kentucky Derby triumph in 14 tries. Good Cheer and Sovereignty were homebreds. Michael Banahan, director of bloodstock for Godolphin USA, credited Sheikh Mohammed’s willingness to spend for quality. “He’s given us the resources to have the broodmare band like we have,” Banahan noted.