Duke of Love Update

We checked in with Josie Carroll, who remains very pleased with how Duke of Love exited his comeback to the races on Mar. 1. He returned to the work tab on Thursday, breezing a half-mile in :48.75 while on the inside of Forty N Five. While Duke of Love’s breezes are never going to look flashy, Josie thought he worked well and switched his leads earlier than normal, having the help of that mate to his outside to keep him focused. He finished about a head back at the wire, but then galloped out better of the two, which has been very common in his works.

​Click here to view the breeze, courtesy of XBTV.

Duke of Love Update

Duke of Love is doing great at Palm Meadows Training Center. Trainer Josie Carroll has been trying to breeze him the last few days but she has been unhappy with the track surface due to weather. Josie is anticipating better weather and a good track tomorrow and hopes to breeze him then. He will only breeze an official three furlongs but will gallop out a half-mile as she believes he’s pretty fit as we expected.

If he does not breeze back tomorrow, expect to see him on the work tab later this week.

Duke of Love Workout Report

Duke of Love remained on his usual work schedule this morning at Woodbine, covering five furlongs in 1:00.80 (2/3) over the all-weather track. Since this was his second work back following some missed time, Duke picked up the pace nicely.

As previously mentioned, there is a seven furlong allowance race we could consider in early July but at that time we should be able to glance at the new condition book which may have a two turn option.

Duke of Love Workout Report

Duke of Love picked up the pace on Friday morning at Palm Meadows Training Center, covering five furlongs in 1:02.45 over a wet fast track. Your son of Cupid broke off at a very easy tempo and as you will see in the video, was forced to work a few paths off of the inside rail. He stayed on his left lead throughout most of the stretch before flopping to his right lead at the wire. Being his first real five-eighths and doing it over a track that had moisture in it, his lack of lead change is not a major concern but we’ll see how he returns next week with this work now under his belt.

Duke of Love’s work can be seen here. This link leads to an XBTV workout hub. To unlock access to professional workouts, please sign up for a free 1ST bet account if you haven’t already.

Duke of Love Update

Following our most recent update, trainer Josie Carroll opted to wait a little bit longer before shipping Duke of Love to South Florida but we are pleased to report your son of Cupid arrived at Palm Meadows this afternoon. We’ll get with Josie regarding her tentative plan for the coming weeks and report back with an additional update.

Duke of Love Update

Following our most recent update, Duke of Love started tack-walking and improving each week. Trainer Josie Carroll is pleased with his progress and reported that our son of Cupid could ship to Palm Meadows in Florida as soon as next week. We will follow up with shipping arrangements as soon as they are made.

Duke of Love Update

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Duke of Love returned to the track at Woodbine and is getting back into a routine. We are still very proud of his performance, as he earned one of the top speed figures for that week. Our team will be checking up on him this weekend and we’ll follow up with content from the track and from trainer Josie Carroll. You can still watch that win in the G3 West Virginia Governor’s Stakes on repeat by clicking here. If you are interested in purchasing an official winner’s circle photo, click here. Congratulations again to all owners and we can’t wait to see what the future holds for our 4-year-old.

Photo credit: Lola Nichol

Duke of Love Reconciliation Update

We have completed our reconciliations of the Duke of Love Financials and did uncover the reserve had been previously overstated. Attached is a breakdown of all revenue and expenses since the inception of the offering and as you will see, the current reserve balance going into last week’s race was actually -$23,012.

For the win, Duke earned net proceeds of $78,050, bringing the reserve back to an almost fully funded state. Since all net earnings went to the reserve there will be no payout for this race. However, now that we are just over 95% funded we are hopeful we can continue and add to the shareholder distributions, which to date have totaled $177,640.

In looking at the lifetime financials there are a couple of interesting takeaways that highlight why the expenses have run a little high on this horse.

    • There was a tax liability of 11.5K for his profitable 2022 campaign.
    • Duke Race Day expenses which include jockey, trainer, nomination, and currency conversion charges total 35.8% which is significantly higher than our US average.

Overall, even with higher Canadian race expenses and the tax hit of 2022, Duke of Love has been a pretty strong producer returning $88.92 in shareholder dividends to date, and now has an almost fully funded reserve of $55,037.98 (which represents about $27.50 per share)

Duke of Love Workout Report

Duke of Love worked a half mile yesterday morning with multiple stakes winner Collecting Flatter. The Josie Carroll trained duo stopped the clock in 47.40 seconds, which was the bullet for the morning. Josie Carroll thought this was a good work, but was a bit quicker than what she was looking for.

The latest condition book for Woodbine was released earlier this week and our options for Duke as far as an allowance race are nonexistent. Josie and our team will discuss options out of town. Once a decision has been made, we will follow up.

Duke of Love Workout Report

Duke of Love returned to the work tab this morning, working five furlongs in :1:00.20. Josie Carroll was very pleased with this work, saying that your colt did exactly what she wanted to see this morning. His next race is up in the air at the moment. In the current condition book which runs through June 18th, there is no option for Duke. Josie expects the new condition book to be released in approximately a week and is hoping to see an allowance option in the early parts of the book. If that option falls through, Josie said that she will weigh our options of running out of town on a dirt track on the East Coast.