James Price to depart Woodside Park following restructure
Leading Victorian farm to retain ownership of stallions as they vacate Tylden property
James Price will leave his role as CEO of Woodside Park Stud at the end of the financial year after the leading Victorian farm, owner of star stallion Written Tycoon (Iglesia), announced a restructure which will see them vacate their leased Tylden property, home to stallions Tosen Stardom (Deep Impact), Foxwedge (Fastnet Rock), Rich Enuff (Written Tycoon) and Cable Bay (Invincible Spirit).
In a statement released yesterday evening, Woodside Park principal Mark Rowsthorn outlined plans to consolidate their operation at their Morningside property in Nagambie, which they acquired in May 2019, with a focus on breeding elite yearlings to sell at auction.
“We are looking to simplify our family’s interests and direct our investment to a smaller operation that is focused on breeding yearlings at the elite end of the market,” said Rowsthorn.
“Morningside lends itself to this change in direction and also complements our growing cattle and cropping operations.”
Written Tycoon, the sire of three Group 1 winners last year, including Golden Rose (Gr 1, 1400m) and Caulfield Guineas (Gr 1, 1600m) winner Ole Kirk and Moir Stakes (Gr 1, 1000m) winner Pippie, stood the 2020 breeding season at Arrowfield Stud in the Hunter Valley.
While the statement added that Woodside Park would be retaining ownership in its stallions, when contacted by ANZ Bloodstock News yesterday evening, Price would not be drawn on the future location of Woodside’s stallion roster, although he indicated that the restructuring had been considered at length.
“It’s something that we’ve discussed at board level for some time,” said Price. “It’s something Mark Rowsthorn has been thinking about, certainly since the latter part of last year, and saw it as a prime opportunity to downsize into a smaller, boutique operation.
“Morningside is a fantastic property for whatever the Rowsthorn family wish to use it for. They’ve certainly got interest in breeding to their broodmares and have a keen interest to breed cattle there. It’s a great piece of land on the Goulburn river, so whatever the Rowsthorn family decide to do with it, I’m sure it will be a success.”
This year’s Magic Millions Gold Coast Yearling Sale drew some landmark results for Woodside Park, selling their highest-priced yearling, a colt by flagship stallion Written Tycoon out of German-bred Dubawi (Dubai Millennium) mare Salamati, for $750,000 to Hawkes Racing. The blue-blooded youngster helped to elevate the stud into the top five leading vendors, selling four yearlings at an average of $395,000, an achievement Price says sought to consolidate this new strategy.
“This is the focus where the Rowsthorn family want to take it,” said Price. “Particularly on the back of our results that we’ve seen this year, and will hopefully continue to see this year.
“Our achievement of being a top–five vendor at the Magic Millions last month was a fantastic feat, selling our highest-priced yearling. I hold that pretty high in our achievements.”
The move follows a notable trend of stud operations concentrating resources on breeding high-end yearlings for commercial sale, with fellow Victoria-based operation Sun Stud last month announcing plans to downsize, focusing on an elite broodmare band.
“What a lot of studs have done is acquire a high level of mare, which has produced great results in the sale ring,” Price added.
“There’s no doubt that with a higher quality of mare, it brings a greater return. It’s a simple equation in that it costs just as much to raise and host the bad ones as it does the good ones, so why not focus on having as many of the good ones as possible, and fewer of the less paying ones as possible. It’s not rocket science, and it’s the way many principals are aiming.
“If it was my business, I’d be doing the same too.”
Price has yet to determine his next destination in the thoroughbred industry, but is proud of his contribution in the development of Woodside Park in the three years he oversaw operations as CEO.
“I’m keeping my options open and have really enjoyed and am very proud of what I’ve achieved at Woodside Park Stud.
“Being a part of the continued success of Written Tycoon, as well as the other stallions here. Rich Enuff has made a good start to his career and Foxwedge recently recorded his fourth Group 1 winner and, if we think about how many stallions have one Group 1 winner, let alone four of them, Foxwedge is a brilliant stallion.
“Where to next? I’m not sure. I’ve had a few conversations with a few people. There’s nothing set in stone, but I’m looking forward to my next challenge.”