From record-breakers to Cup contenders? Darby Racing dares to dream

Cover Image courtesy of Darby Racing Syndications

An Australian syndicator that continues to deliver consistent success year after year is Darby Racing. The syndication company has enjoyed another strong season of results on the track, most recently highlighted by victory in the G2 Brisbane Cup. Director Scott Darby couldn’t be happier with how the season has unfolded, but explains that the company is always striving for more, and is prepared to look both near and far to find the next crop of horses to carry the now-prominent Darby Racing silks.

A season to remember for Darby Racing

The iconic Darby Racing silks - white with the navy blue logo, have become synonymous with racetrack success. Instantly recognisable, those colours have recently been carried by some outstanding performers, including G1 Golden Slipper heroine She Will Reign (Manhattan Rain), dual Group 1 winner Yankee Rose (All American), G1 winner Samadoubt (Not A Single Doubt), and G1 Coolmore Stud Stakes hero-turned-sire Ozzmosis.

As has become customary for Darby Racing, the 2024/2025 season has once again delivered a steady stream of winners. Among the standout performers this season are Within the Law (Lucky Vega {Ire}), Iowna Merc (Winning Rupert), Robusto (Churchill {Ire}), Sandpaper (Snitzel), Caballus (I Am Invincible), Our Anchorage (Ire) (Galileo {Ire}), Goldman (NZ) (Verdi {NZ}), and Overpass (Vancouver), all stakes winners this season.

Gallery: Darby Racing 2024/2025 major winners

“It’s been a record-breaking year,” said Scott Darby.

“We have had a good run the last three or four years, and you kind of pinch yourself, but this year we have broken all our records by prizemoney and winners, and we still have a bit to go.

“You know tough times will come, but we seem to have lots of horses continually stepping up, which enables that momentum to keep going. It’s also nice to have it across the board now too, with young horses, stayers, imports, tried horses etc.

“We are absolutely rapt and blessed at the moment, long may it continue. I really do want to acknowledge my hard-working staff: Mark, Loren, Steve, Claire, and Carolyn. They don’t get the accolades that they often deserve, but they play a huge part in us being able to have success on the track. They work extremely hard.”

Dreaming of the first Tuesday in November

The G1 Melbourne Cup looms as a possible spring target for emerging New Zealand-bred stayer Campaldino (NZ) (Ghibellines), who continued his sharp climb through the staying ranks with a dominant win in the G2 Brisbane Cup over two miles at Eagle Farm last Saturday.

The progressive Ghibellines gelding has pieced together an eye-catching string of victories this campaign, rising from success in the Orange Cup, to a restricted ratings race at Kensington, followed by the G3 Premier’s Cup, and now claiming the G2 Brisbane Cup.

This rich vein of form has co-trainers Gai Waterhouse and Adrian Bott dreaming of the first Tuesday in November. Speaking after the race, Bott confirmed that the Melbourne Cup is now firmly on the radar.

“I think we’ll have to go for the Melbourne Cup,” Bott told media. “He’s an amazing, progressive horse. He’s come a long way and that tops off the campaign nicely.

“He can't have too long off, but he’s had some nice conditioning this preparation and we’ll try and work backwards from the Melbourne Cup.

“He’s still learning what it is all about. Even when he hit the front today, I was worried about him getting there too early. There is still progression to come. He had a bit of a wander around when he got to the rail, but when he was challenged, I thought he responded nicely in the end.

“He’s lightly raced for a stayer and it will be exciting to see what he can do in a few campaigns ahead.”

From just 14 starts, Campaldino has now recorded six wins and four placings, amassing over $500,000 for a Darby Racing syndicate and their many partners.

Campaldino was a private purchase by Rob Waterhouse and is by the White Robe Lodge stallion Ghibellines out of Zuzana (NZ) (Shocking). His pedigree reinforces his two-mile credentials, with further stamina inherited from his grand-dam Laezeel (NZ) (Zabeel {NZ}), a full sister to Caulfield Cup runner-up Laebeel (NZ) (Zabeel {NZ}).

Remarkably, Campaldino may be one of the few horses to contest a G1 Melbourne Cup who broke his maiden in a highweight race at Taupō, carrying a hefty 69kg. He’s now turned that unconventional beginning into a career boasting more than half a million in stakes earnings and counting.

Darby Racing’s Scott Darby was full of praise and cautious optimism following the Brisbane Cup win.

“He has really been a bit of a surprise packet this time in. The way he won the Orange Cup, we thought he might have come back super well.

“I was a bit worried about the 3200 metres as it is a new pain barrier, but once I had another look through his damline, I was pretty confident, Shocking, Zabeel, and some of the performances from relations were over staying events, there are plenty of strong stamina influences there.

“Naturally we will look towards the Melbourne Cup. Time will tell if he is up to it, but he has made a big leap this time in and that may continue.

“We have imported five in from New Zealand and so far have got four winners, two at stakes level, and the other two could potentially get to that level.

“We are building a good little record with those horses that have been bought well.”

Darby Racing can find value

Scott Darby and the team at Darby Racing have a well-earned reputation for unearthing value wherever they go. Whether it’s picking up a modestly priced yearling at auction, sourcing a tried horse online in Australia, making private purchases from New Zealand, dipping into the Northern Hemisphere market, or even racing homebreds like Group 2, Group 3 and Listed winner Iowna Merc (Winning Rupert), the results speak for themselves.

When asked whether there are specific target areas, Darby explained that the buying brief is broad and opportunistic.

“We don't really have a big focus on a particular area, but we are always looking for horses. Our big idea is to not pay too much money and to try and get horses that can pick up that lucrative Saturday prizemoney.”

The results with tried horses, in particular, have been impressive.

“We have had a really good run with the tried horses, particularly ones purchased online, an incredible run with the likes of Robusto, Sandpaper, Caballus and Imperial Force. We go in with realistic expectations, but to land stakes races and million-dollar purses with them has been fantastic.”

Robusto was purchased for $160,000 from the Inglis September (Early) Online Sale and has since won roughly $1.37 million for his new connections including success in the $2 Million G2 The Ingham.

Sandpaper was a Inglis Online purchase for $130,000 and he has picked up roughly $400,000 for his connections including Group 3 success, Caballus has been a Group 3 and Listed winner after he was picked up for $315,000 on Inglis Online again, he has picked up just under $500,000 in prizemoney, and Imperial Force (Snitzel) was purchased on Inglis Online for $285,000 and he has nearly picked up his purchase price in prizemoney from only four starts and he looks like he has much more to give.

Darby also praised the work of trainer Bjorn Baker, who has played a pivotal role in maximising the potential of these purchases.

“I believe there are none better than Bjorn and his team. They have picked up these horses from some of the best trainers and produced great results - maybe even taken them to a new level. We are having some great success together in this area of buying.”

No one-size-fits-all approach

With a growing client base that now includes roughly 4,000 owners, Darby Racing caters to a wide range of preferences, from those chasing a Golden Slipper dream to those simply looking for the fun of racehorse ownership.

“We don’t really buy horses for certain clients, but we obviously do have some that prefer the Slipper dream, or some want to go racing quicker with a tried horse.” Darby said

“I prefer to think of our portfolio of horses as a bit like a football team - you always want to strengthen your team and make it stronger in all areas if you can. We just try to get horses that we want to race in our colours and can give that enjoyment to our clients.

“You always need to keep strengthening and having depth right across our horses that can target all parts of the racing calendar can only help strengthen our brand.”

The team-first philosophy runs deep, with owners not only backing their own runners but following stablemates just as passionately.

“It becomes quite tribal." Darby proclaimed. "Our clients don’t just follow the ones they own, they follow them all. So the success is contagious, whether that is people watching them or punting them. It really is great and very rewarding.”

Some of the challenges for syndicators

Despite their on-track success, Darby is clear-eyed about the ongoing challenges syndicators face, especially in an increasingly competitive and regulated environment.

“Naturally, it is always difficult to keep relevance within the sport and entertainment sector, so we need to keep being able to sell shares and the big dream.

“Having regular success helps in this regard; we need to be able to draw the audience in, and races like The Slipper and The Everest help play their part in that.”

The saturation of the Australian syndication market also poses unique pressures.

“In Australia, the syndication of horses has become quite saturated, and it is a difficult game retaining the audience.”

Racehorse syndication is tightly overseen by the Australian Securities and Investments Commission (ASIC), with licensed syndicators required to hold an Australian Financial Services (AFS) Licence.

A further hurdle is the disparity in regulation between licensed syndicators and other industry participants.

“A big challenge for syndicators can be that we are not always on a level playing field to bring owners in, we have to be ASIC regulated, while trainers are not.

“It is a genuine challenge for syndicators who are trying to make a living, and it is not having a crack at trainers, but it isn’t an even playing field as we are not playing by the same rules.”

Public perception can also be a challenge, especially when it comes to transparency and cost structures.

“Syndicators often get a bad name from buyers saying that they mark up prices and are greedy, but in fact, a lot of those costs associated are to protect the buyer, which they aren’t always if going straight off a trainer. Buyers are not always aware of this.”

The rise of social media has made it easier to market horses quickly, but it’s also a grey area for regulated entities.

“With social media, it has made it easier to post that you have bought a horse; you just can’t put what price you have paid.

“So some of the rules and regulations do make it very tough, and that adds another layer of challenge.” Darby said.

Despite the hurdles, Darby Racing’s performance on the track and in the sales ring continues to set the standard.

As long as they keep combining shrewd buying with consistent on-track performance, the Darby Racing colours will remain a mainstay in the winners’ circle, and the syndication landscape for many seasons to come.