Cover image courtesy of Paul Moroney Bloodstock
Speaking to The Thoroughbred Report, Moroney reflected on his business journey and outlined the changes and improvements he’s planning to implement in order to continue building and thriving. These developments come particularly in the wake of his late brother Mike Moroney’s passing and the recent closure of Ballymore Stables.
The 100th Winner: A classy one to boot
There was a special milestone for Paul Moroney at Canterbury on Wednesday, horses he selected at the sales reached over 100 wins for the season, and fittingly, the 100th was by a horse that is bred to be special, and maybe that is what he will become.
The horse in question, Central Coast (Wootton Bassett {GB} ex Sunlight), is not only the most expensive yearling ever purchased by Moroney in his bloodstock career, but also a colt with an elite pedigree. He broke his maiden stylishly at his second start at Canterbury.
Purchased for $1.4 million at the 2024 Inglis Australian Easter Yearling Sale on behalf of a syndicate including Coolmore Australia, Central Coast is trained by Chris Waller, who has hinted a Listed race over 1400 metres in Brisbane could be next on the agenda.
The blueblood colt becomes the tenth Australian winner for Wootton Bassett (GB) from his first Australian-bred crop. He is set to stand at Coolmore Australia this spring at a service fee of $385,000 (inc. GST).
Central Coast is the second foal out of champion 3YO filly Sunlight (Zoustar), an 11-time winner including Group 1 victories in the Coolmore Stud Stakes, Newmarket Handicap, and William Reid Stakes. She has made an excellent start to her broodmare career, her first foal, Dawn Service (Justify {USA}), is already a Listed winner at Flemington, and her third foal is a yearling filly by Home Affairs that topped the Magic Millions Yearling Sale this year when selling for $3.2million to Mitsu Nakauchida of Japan.
This colt also hails from a family rich in black type, closely related to stakes winners such as Clean Energy (Zoustar), Sisstar (Zoustar), Causeway Queen (Giant’s Causeway {USA}), and Solar Charged (Red Ransom).
Central Coast winning the Maiden Handicap at Canterbury | Image courtesy of Coolmore
Moroney reflected on the achievement:
“It was a very good result and a very nice win. I’ve been keeping statistics for about the last six seasons, and from purchases we’ve made, we’ve had over 100 wins every season.
“I’m guessing regularly before that it would have been the same case but without the statistics to back me up. Last year, we had 130, which was a record.
“It’s a real feather in our cap. Not many can say they get 100 wins each season, we strive for success right across the spectrum.
“It’s a real feather in our cap. Not many can say they get 100 wins each season, we strive for success right across the spectrum.” - Paul Moroney
“He (Central Coast) has been our most expensive purchase. We’ve worked with Coolmore for well over a decade looking at their top-end yearling selections, and we’re delighted to be able to compete at that level.
“We also purchased a Frankel colt for $750,000 with Coolmore and Go Bloodstock, named Sarapo, who ran second on debut. Chris (Waller) rates that horse highly over a mile and beyond next year. Having these types of horses in work with Chris Waller is a real feather in our cap.”
Type comes first and foremost
Moroney is widely regarded for his focus on “type” - selecting horses based on their physical attributes and athleticism rather than just pedigree.
“Type comes first for me. I then look at pedigree to see if there is a pedigree mix or genetic physical mix for the type in front of me.
“I’ve built up a strong record buying by type, and I believe that enables value within a market without having to take the fashion of sires into account.”
“I’ve built up a strong record buying by type, and I believe that enables value within a market without having to take the fashion of sires into account.” - Paul Moroney
That approach has yielded remarkable results: Moroney has now selected 39 individual Group 1 winners of 55 Group 1 races, including 13 Classic winners. His record also includes 157 individual stakes winners, and a total of 286 individual stakes performers.
“I’m more than happy to buy at the middle of the market and lower. I feel there is a major disconnect between pedigree hype and raceday return.
Paul Moroney | Image courtesy of New Zealand Bloodstock
“The scope of the industry has changed. There’s a lot of hype around syndicating horses with the ‘right’ pedigree formula, and at times buyers shy away from the athlete themselves.
“This actually helps us, the lower end is quite weak, and we’re able to find value in athletes that may not have a desirable page up close.”
A prime example is Yellow Brick (The Mission), purchased for just $20,000 at the 2021 Magic Millions Gold Coast National Yearling Sale. He recently finished second in the Stradbroke Handicap and has earned just shy of $2.5 million for connections.
Moroney is quick to credit praise towards Catheryne Bruggeman, who joined the business in 2013:
Yellow Brick | Image courtesy of Trackside Photography
“I believe it has become a lot easier since Catheryne joined. She has an eye I believe matches mine.
“Once I added her eye into the mix, everything became much more streamlined. We look at the same things, and often agree. It’s been a seamless fit.
“Once I added her (Catheryne Bruggeman) eye into the mix, everything became much more streamlined. We look at the same things, and often agree. It’s been a seamless fit.” - Paul Moroney
“Yellow Brick is a great example, Catheryne said, ‘I’ve found one.’, On our second lap together, it became very apparent who the one was. It was very easy to give him a second tick. Tony Sears was the first person I asked to see if he wanted the horse, and he took the horse, look at the results he has achieved.”
Who does Moroney buy for, is he available for anyone?
There’s a common assumption that Paul Moroney bought primarily for his late brother Mike and Ballymore Stables, but that’s not entirely accurate.
“There was a feeling we were buying for Mike first and foremost, but that was never the case. I’ve always had a wide range of clients. People second-guessed that they wouldn’t come first, but in fact everyone gets the same shortlists, it just depends how much they were prepared to pay for each individual.
“I did buy a lot for Ballymore, and it’s now been six months since Mike passed away. It’s left a void both personally and professionally. As sad as it is, it has also opened up opportunities.”
Catheryne Bruggeman | Image courtesy of Paul Moroney Bloodstock
Catheryne Bruggeman recently relocated full-time to Virginia, in America, and the pair now have eyes on international growth.
“We’re looking to make a big push in America. Having Catheryne based there now will only help, whether it’s sourcing bloodstock to bring back to Australia or attracting American investment into the Australian market.
“We’re looking to make a big push in America. Whether it’s sourcing bloodstock to bring back to Australia or attracting American investment into the Australian market.” - Paul Moroney
“We think we can make a real impact internationally. I’ve been buying from Europe and the UK since 1985. It never hurts to re-frame, adapt, and improve.”
Building strong client partnerships
Moroney has formed strong partnerships with trainers and syndicators alike. One notable relationship is with the Queensland-based, and recently Gold Coast re-located Tony & Maddysen Sears stable.
“They bought Yellow Brick sight unseen, and he’s probably their best horse. They genuinely trust my eye, and we’ve been buying quite a lot for them. The season has been a little disrupted due to their relocation, but the results will come.” Moroney said.
Newer clients include Monarch Racing Syndications, run by Jason and Tahlia Micallef.
Tony and Maddysen Sears | Image courtesy of Maddy Sears
Moroney commented “They’re a fledgling syndication company, bubbling away nicely. They’ve trusted us and we’ve bought them some really nice stock.”
“They had an open day with pony rides and bouncy castles, they’re passionate, family-first people doing things the right way.”
Glen Thompson, formerly Mike Moroney’s co-trainer, is another key client.
“He’s a good young trainer starting a new venture, and we’ll support him. He’s one to watch.”
Moroney went on to comment about the Hayes boys and how that may create new opportunities, “The Hayes boys now have many of the ex-Ballymore horses I purchased, so that may open up new opportunities too. Even though they have their own bloodstock team, success could see owners returning for more.”
Glen Thompson | Image courtesy of The Image Is Everything
Weanling Sales: A new frontier for Moroney
Later in his career, Moroney has also had outstanding success buying weanlings. Of the 25 weanlings he has purchased that have reached racing age, 14 are winners, eight have been placed, three are unraced, and just one is unplaced.
Four are stakes winners, giving him a stakes-winners-to-runners ratio of 18 per cent, and a stakes-performers-to-runners rate of 27.3 per cent.
“It hasn’t translated into this year’s weanling sales, but I’m sure it will. Pinhookers often do it themselves and are wary of extra costs like agent fees and commission - and that can affect overall results.
“But we think there’s a real market for buying weanlings to race as end users, that’s where we’ve done well. We want to use weanling sales to find fillies with potential to get black type - the upside is enormous.
“We want to use weanling sales to find fillies with potential to get black types. The market is booming, and we want to maximise that.” - Paul Moroney
“Race fillies with black type now sell for more than proven mares. The market is booming, and we want to maximise that.”
The emotional Stradbroke Handicap
This year’s $3 million G1 Stradbroke Handicap at Eagle Farm was an emotional race for Moroney. War Machine (NZ) (Harry Angel {Ire}), a former Ballymore horse, beat Yellow Brick, who Moroney and Bruggeman purchased for only $20,000.
War Machine was bought by Steven Pinfold, affectionately known as “Pinny”, who strapped Moroney’s first Derby winner, Second Coming (NZ) (Oak Ridge {Fr}), in 1997. It marked Pinfold’s first Group 1 winner as a buyer.
The Wallace family of Ardsley Stud, New Zealand, retained a share in War Machine. They had recently suffered a heartbreaking loss with the death of Michael Wallace, a fellow New Zealand bloodstock agent. Jockey Tim Clark wore a black armband in tribute to both Michael Wallace and Mike Moroney.
War Machine (NZ) | Image courtesy of Trackside Photography
“I can’t remember who I told,” Moroney laughed, “but I’m two years younger than Mike, and I’ve been used to running second to him all my life, and would you believe it, it happened again in the Stradbroke.
“I really didn’t know who to cheer for. It was so close for Yellow Brick and the Sears Racing team, who are great clients. But it was also great for War Machine, who came through the Ballymore system.
“It’s been a sad time for the Wallace family. Hopefully that win lifted their spirits a little.”
Alabama Express - A source of pride
One stallion Moroney takes great pride in is Alabama Express, he has made such a strong start at stud for Yulong.
The Group 1-winning son of Redoute’s Choice has already produced four stakes winners, including triple Group 1 star Treasurethemoment, and talented gallopers Alabama Lass, Glasgow Lass, and Discretion Rules.
“He’s fourth on the second-season sire premiership and has left a super filly. He’s a very good sire, purchased by us for $280,000, trained by Mike to win a Group 1, and now successful at stud. We can develop a stallion as well.
“It’s a lovely string to our bow, and I’ve taken great pleasure following him.”
Alabama Express | Standing at Yulong Stud
As Moroney looks to the future, there’s no question that the closure of Ballymore Stables has marked the end of a major chapter.
“It was a stable close to my heart, and it’s left a bit of a void. But Mike would have wanted me to carry on and do my best. It’s hard to get to the top in this game and even harder to stay there. That’s what I plan to do.”
