Thoroughbreds And Thoughts – A Catch Up With Bortz

South African horseracing’s leading man, and a forward thinker of some proportions, Cape Racing Chairman Greg Bortz was appointed CEO of JSE listed Grand Parade Investments – a company of which he is a majority owner – last month and could well complete the ‘holy trinity’ with negotiations under way to purchase KZN racing operator, Gold Circle. 

It’s difficult to believe that just over a year ago many of us only knew the name Greg Bortz as the charismatic part-owner of the temperamental Gr1 Cape Derby winner Pomp And Power.

While he has been in racing for longer than five minutes, today the Durbanite, who made his fortune in private equity in the USA, is a man on a mission to uplift the sport of kings.

He has emerged as the singularly most influential player on the South African horseracing firmament and his ability to talk to the full spectrum of stakeholders is unprecedented in a world overpopulated with techno talking heads. His humility and willingness to communicate with all and sundry on matters impacting the game, has clearly endeared him to many.

In the countdown to the Cape Racing Sales Winter Mixed Sale on Friday, the Sporting Post caught up with the 53-year-old Clifton resident, just days after a left shoulder operation had slowed him down a length or two.

As usual the energetic trademark blue-jeaned businessman saw the positive in the surgical procedure that he concedes he had been putting off for some time.

“It’s given me a chance to catch up on paperwork and looking on the bright side, it could have been my right shoulder,” he laughs as he tells that it’s been a ‘hectic time’ with plenty happening in the corridors of corporate power and on the ground at Hollywoodbets Kenilworth, the Milnerton Training Centre, and even at Hollywoodbets Durbanville.

But Greg Bortz gets an instant glint in his eye when he chats about the talented chestnut Pomp And Power.

“We are experimenting and testing equine travel options and rather than let a claustrophobic adrenaline-charged athlete stand in a float for 16 to 20 hours on the long road, he was flown up to Durban with a number of other horses a few weeks ago. What a difference! I can’t elaborate more on air travel, but this is an important initiative of ours at Cape Racing. We want to make all racecourses easily accessible for all horses – regardless of their location. Watch this space! But back to Pomp: he is enjoying himself and there is also no favourite pressure on us for the 2023 Hollywoodbets Durban July. We also have secured Bernard Fayd’herbe for the big race ride. Bernie knows his way around Hollywoodbets Greyville! If Pomp can replicate his WSB Met run, he is a massive runner.”

Greg recently attended the graduation ceremony of his son at Southern Methodist University in Dallas, Texas.

“Judd’s going to pursue a career in Investment Banking in Los Angeles,” adds the proud Dad as he pulls the catalogue for Friday’s Sale off a shelf.

While he’s keen to chat about the sale and some exciting initiatives introduced to benefit both vendors and buyers, we draw the discussion first to the rubble and building activity which we had to step over in our visit to a chilly Hollywoodbets Kenilworth.

“As you can see, there is plenty happening here. Hollywoodbets Kenilworth is in the middle of an amazing transformation. We will be making the announcements in good time but in a nutshell we are creating a 365 day-a-year lifestyle facility, rather than a one dimensional racecourse that is utilised only 45 odd days a year. One would like to believe that given the status and stature of our property portfolio down here that we could at least introduce facilities and foot traffic to raise the sport’s profile, while generating much needed financial spin-offs to benefit the industry at large,” he adds.

“The transformation of this iconic venue is truly amazing – we can’t wait for it to be complete!”

As regards the recently announced proposed acquisition, together with his corporate bookmaker partner Hollywoodbets, of Gold Circle, the business guru won’t be drawn on prying speculation and is tight-lipped, indicating that there is a process to be followed and ‘quite a long road yet to be walked’.

“Our offer to acquire Gold Circle has been accepted by the Board of Gold Circle. Now there are numerous other milestones that must first be achieved – these include the signing of all agreements, a vote of the members, Competition Commission approval, gambling board approvals and other such things. The process is not quick, and we are mindful and respectful of the rules and procedures that need to be followed, and we cannot, and will not, cut any corners. That said, I am excited about the future opportunities with and for racing in KZN. The loyal, passionate fan base in KZN is unparalleled in our country, and I truly believe that our best days lie ahead of us. It can be frustrating at times, as patience is not my strong suit, but we are never too old to learn!”

He is particularly excited though to talk about the sale on the Youth Day public holiday on Friday which heralds a new R4 million cash bonus structure and an innovative pinhooking programme at Cape Racing Sales Winter Mixed Sale.

The brief was to make the sale and acquisition of racehorses more convenient, enjoyable, and ultimately more rewarding for vendors and buyers.

Friday’s sale sees bonuses of R100 000 being paid for the first juvenile win by the graduate of any race, and this will be payable not only in Juvenile races, but with wider reach to include open Maiden races won by juveniles. In an interesting move, Cape Racing Sales will pay 25% of the win bonus to the vendor and have also reduced vendor commissions.

Greg is excited about the introduction by Cape Racing Sales of a pinhooking ‘assistance’ incentive to help drive the June and October Ready To Run sales. Pinhooking at sales is growing fast in popularity because it requires seasoned thoroughbred selection skills and hence presents opportunities for handsome profits with no unusual risks.

“There is no interest levied and the programme affords approved applicants an opportunity to be granted an authorised ‘credit-line’. This will make it possible for the pinhookers to acquire horses on Friday, while only paying after selling at the RTR sale in October.”

He explains that they have had terrific positive feedback about this move and vendors will be paid out timeously for their horses that are bought by pinhookers.

“So now rather than syndicators or speculators running from owner to owner to sell a leg here, and a tail there, they can put their head down and their hand up and place themselves in a stronger position. So we have created the environment for a more vibrant buying bench and genuine opportunities for the astute eye – and the breeders are very happy,” adds Greg proudly.

Asked about the possibility of South Africa having just a single sales company in time to come and bringing the National Yearling Sale to Cape Town, he says that this is not something under consideration.

“I am a big supporter of the BSA Sales – I love Nationals and have bought many horses there. I have stated publicly, and chatted to my friends at BSA, that I think the logic is flawed holding the bulk of sales in Johannesburg.

“We are always told the buying power is up North, but that’s not what the statistics suggest. The breeders have traditionally had their own way of doing things, and they hold the sales at Germiston because that is where the sales grounds are. But a large proportion of the catalogue is travelling from the Western Cape. And I think the essence of racing and breeding is that we tend to do things because that is the way they have always been done, and not for underlying good business logic. That approach may have worked in less competitive times, but we don’t have that luxury in the 21^st century anymore. I believe things will evolve as they are meant to,” he adds with measure.

“We at Cape Racing have no desire to own or run a national sales company. Or even own a sales company.  Our only mission is to grow the sport of horseracing – nationally. I look forward to working with our friends at the BSA if they wish to explore ways to do more in the Cape. From holding more sales at Hollywoodbets Kenilworth to building a purpose-built arena here – anything is achievable and doable. And if this is not of interest, they will still have my continued ongoing support – as a friend and a buyer.”

And will Mr Bortz be adding to his substantial string and buying on Friday?

“No. Gina and I will be in London. We are attending Royal Ascot, which is something we have never done before. Also, I think it will be a lot cheaper if Gina focuses more on buying shoes than horses! That said, we are sad to be missing it. It’s a lovely catalogue and the trainers will no doubt be doing a great job of getting us involved. They will have to talk to Gina though, not me. I am a pushover, but Gina not so much! She has done a great job so far and we have a lovely string of young horses coming through the ranks. You really can’t tell me how anybody with blood flowing through their veins can’t love this game!” he enthuses.

The Cape Racing Sales Winter Mixed Sale is being held at Hollywoodbets Kenilworth and starts at 11h00 on Friday.  

Viewing is from Wednesday.  

Check the catalogue here.