Horsetrader: Robert Sangster And the Rise and Fall of the Sport of Kings

by Patrick Robinson

With individual thoroughbred racehorses costing millions of pounds each, the explosion in the bloodstock industry in the 1980s was the ultimate gamble of the decade - symbol of the business euphoria of the times. Tracing the events of how Sangster and his elite Irish racing experts took the world's most prestigious bloodstock auction, the Keeneland Sales in Kentucky, by storm and written with the co-operation of Sangster himself, this book is the inside track on a breathtaking bid to corner the thoroughbred market. The shock waves from the spectacular crash that followed are still reverberating throughout the world of the sport of kings.

Genres: Horse Racing

Paperback

First published May 20, 1993

About the author

Patrick Robinson was a journalist for many years before becoming a full-time writer of books. His non-fiction books were bestsellers around the world and he was the co-author of Sandy Woodward's Falklands War memoir, One Hundred Days.

Reviews

[Ian Skeet · Rating 5 out of 5]

At 40, I’ve read my fair share of racing books — most are fine. A few are good. Horse Trader is in a league of its own.

What grabbed me wasn’t just the horses (though that part's great). It was the business brain of Robert Sangster. The way he saw opportunity where others saw risk. The way he turned a punt on Northern Dancer yearlings into a global takeover of the sport.

I loved how it pulled back the curtain on the sales ring — the egos, the deals, the nights out that led to multi-million-dollar moves. It reminded me more of reading about business tycoons than sportsmen. And I liked that. It felt grown-up. Smart. Sharp.

If you’re into racing, read it. If you’re into deals, read it. If you’re a fella who likes a good story about risk and reward, this one delivers.

[Tolkien InMySleep · Rating 4 out of 5]

Fascinating tale of the halcyon days for racehorse breeders, which led to the inevitable collapse of the bloodstock market in the late 80's. The bidding wars between the Irish and Arab consortiums are fascinating and sometimes tragi-comic, Snaafi Dancer being a spectacular example of the folly - over $10M for a yearling that never raced and was a flop at stud. As a keen gambler and horse-lover at the time, so many of these horses have personal attachments for me. The legends of Lester Piggott and Vincent O'Brien are only enhanced by tributes to their genius as jockey and trainer respectively. The sad demise of many great Kentucky stud farms is the terrible coda to the tale.

[Rena Sherwood · Rating 4 out of 5]

This is a review of the 1993 first edition, which is currently up at the Internet Archive. There's a trick to finding it, though. You need to type "title: "Horsetrader"" in the search bar. Searching for the author names, or for Robert Sangster, will get you nowhere. It's dedicated in part to Northern Dancer.

The book ends on Epsom Derby Day in 1991, with a brief epilogue written in late 1992. This was a real shame, since some of the most dramatic events in Sangster's life occurred from 1993 to his death by cancer in 2004. This was a fitting end for a man who helped destroy the racing Thoroughbred by concentrating his vast wealth on the offspring of just one stallion -- Northern Dancer. In 2026, Northern Dancer shows up in at least 95% of racers. In the epilogue, the authors even refer to the Thoroughbred as "the Northern Dancer breed" which basically they are (although the Dancer's maternal grandsire Native Dancer is arguably more influential.)

The book has several inaccuracies, which is a shame, since it's a gripping read. D. Wayne Lukas is constantly referred to as "Wayne Lukas." Northern Dancer is said to have had a lonely last two years of life, when in fact he had a companion -- another stallion named TV Commercial. Stuff like that. There's also inaccuracies given just because the book is out of date. Godolphin Stables would far outstrip Coolmore in terms of breeding power, races won, awards -- things like that.

Many things left out of the book would've given a more accurate picture of the Thoroughbred racing industry. Nothing is mentioned of the fate of the horses who don't win Classics or go to stud -- or even those that do. Ferdinand, the 1986 Kentucky Derby winner, died in a Japanese abbatoir, because he was considered a failure at stud in Japan. Even worse was the fate of Exceller, one of the few horses who beat Seattle Slew. He died clubbed to death in a Swedish abbatoir, after a failed attempt by his groom to save him. Both of these horses' racing careers feature prominently in this book.

Sangster and his cronies started two practices which has resulted in the massive inbreeding in Thoroughbreds:

1) Breeding a stallion to over 60 mares a year. Nowadays, top stallions do over 200. Since there's just not many mares to go around, the majority go to the Flavor of the Year, while most other stallions get nothing.
2) Shuttling stallions from the Northern Hemisphere to the Southern Hemisphere (usually Australia), so the stallions breed year-round, without a break.

The Jockey Club in America has tried to limit a stallion's book to "just" 140 mares a year, but a rule to do so was dropped in 2022, because of money. Because money is more important than trying to stop inbreeding and the severe health problems it can cause.

I was heavily into horse racing as a kid, dropped it in 1999, and (after a brief fling with my first taste of betting when I lived in England) got sucked back in during COVID. I finally (knock on wood) quit on Jan 2, 2022, when I just couldn't ignore how badly the industry treats horses, and clearly does nothing to stop cheating. So, the book brought up a lot of memories, good and bad.

It also treats it's human workers terribly. This is mentioned in the book, with notes of racism, stating most make minimum wage, and a particularly good section on how grim it is working on the track.

The book is the official biography of Robert Sangster, but it's not entirely a puff piece. However, the authors were entirely too sympathetic. Like most biographers, they wind up falling for their subjects.

And if any Charlsie Cantey fans read this, they are sure to be offended. I thought it was funny of her portrayal as being catty and clueless.

[barry daly · Rating 3 out of 5]

Well written

This. Book covers a lot of ground, a lot of horses. It could have provided more information about personal life of Robert Sangster. Lovely read.

[Sam Rae · Rating 5 out of 5]

Excellent and informative book. Nearly 30yrs on since it was written and I still remember most of the horses mentioned which is testimony to what Mr Sangster and The Brethren did.

[James Treacy · Rating 5 out of 5]

My friends are in to horse racing and recommended this. I have only a fleeting interest in horseracing, but I thought this book was great

[Carol Rooney · Rating 5 out of 5]

Excellent book

Takes you behind the scenes of the big sales and high stakes involved
The best book I have read in a long time

[Aoife · Rating 4 out of 5]

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[Carolyn · Rating 3 out of 5]

Interesting, at times gripping, but very much of its time. Women barely feature, except as wives who are traded in as regularly as the racehorses. But as a historical record, it has value.

[Melissa · Rating 5 out of 5]

An extremely interesting book about horse racing and the commercial market in the 1970s and 80s. While it centers around Sangster and the Coolmore group, it isn't just about them with a lot of information about other farms and a bit of the strategy that went behind the development of some of the top bloodlines we see today.

[Jonathan · Rating 4 out of 5]

Great account of the bloodstock boom and bust in the early 80's with a lot of info about all of the principals involved, not just Sangster.