Bloodstock in the FT

Rachel Pagones, bloodstock editor of the Racing Post, seems to be making a habit of writing a column in the FT. Today she looks at the National Hunt bloodstock industry, drawing attention to the low stud fees that obtain here. For example Rooster Booster, favourite for the Champion Hurdle (though I shall be investing elsewhere), was by Riverwise out of Came Cottage. In that year, 1993, Riverwise covered a handful of mares for £100 a time. The same year Sadler's Wells, whose progeny were to include High Chaparal and Galileo, was charging £200,000.
Best Mate cost 2500 Irish guineas in 1995 as a foal and Moscow Flyer was by Moscow Society (sired by Nijinsky) out of the only mare the breeder Edward Joyce owned. The most active stallion might cover 300 mares a year but even at that level of activity would only earn about 4.5 times the money Sadlers Wells could command for a single session.