Keeneland: The Cornerstone of Kentucky Horse Racing History
Keeneland Photo
Every horse farm in Kentucky sets its sights on one very special place every April and October.
Twice a year, the entire thoroughbred racing world comes together in Lexington, Kentucky, for three weeks of the best racing on the planet. The best horses, the best jockeys and trainers, and the entire industry of horse owners, handlers, bloodstock agents, investors, and fans all convene at one legendary racetrack— Keeneland.
It’s a track with a lot of history, and we should know. It’s deeply entwined with the history of Mill Ridge Farm.
Horse racing is an industry and a culture. It's a sport deeply rooted in the rolling limestone hills and sweet bluegrass of Kentucky. It’s both a way of life and a way to make a living. That’s why we call it horse country. And at the center of all this horse racing history stands Keeneland.
What is Keeneland?
Keeneland is a nonprofit business that exists to make horse racing more accessible. When people mention Keeneland, they are usually referring to one of three aspects of the institution: the Keeneland auction house, where thoroughbred horses are bought and sold; the Keeneland race track, which hosts world-class racing during its semiannual meetings; and the events themselves—month-long extravaganzas of horse sales and racing.
As a historic horse farm in Kentucky in our own right, we can’t begin to tell you just how exciting Keeneland is when the racing season comes along. Especially during the spring meet, in the lead-up to the Kentucky Derby. You can see it on the faces of every horse lover who comes to visit Mill Ridge.
Keeneland Photo
History of Keeneland
The Keeneland racetrack opened to the public in October 1936. Community-owned since its inception, it sits on a thousand acres in beautiful Lexington, Kentucky—bluegrass country—on land developed a hundred years ago by John Oliver “Jack” Keene and his wife Polly.
There was no auction house to begin with—just a racetrack. The idea was to bring horse racing to the masses at a time when transportation by car was still difficult and the center of much of the action in the industry was on the East Coast, in Saratoga Springs, New York.
Even as late as the 1930s, Kentucky was still considered simply rural farmland–not a center for an emerging industry. While all the selling was done in New York, people wanted a way to race and bet on horses out in the country, where horse farms were already a major part of Kentucky's life and business. And Lexington, the heart of horse country, had seen its own racetrack go away as a result of the Great Depression.
Location was key. Central Kentucky was horse country precisely because of its fertile land, and because of the rolling hills that helped foals build the strength they’d need to become champion racehorses. Moreover, when wealthy northerners and westerners would travel south to Florida, Kentucky proved an excellent resting place.
It was a perfect horse breeding ground. Thoroughbreds are a live-cover breed, meaning the stud and mare need to be together during mating. A mild climate and midway location helped make Lexington a prime stopover for breeders.
Birthplace of the Modern Thoroughbred Industry
The Keeneland racetrack—and with it the Keeneland Association—was therefore established to be a premier hub for horse racing. Its first directors? Major Louis Beard and none other than Hal Price Headley … the father of Mill Ridge founder Alice Headley Chandler and grandfather of Mill Ridge’s managing partner and the head of Nicoma Bloodstock, Headley Bell. That makes him the great-grandfather of Mill Ridge’s general manager Price Bell.
Louie Beard and Hal Price Headley
Hal Price Headley was instrumental in bringing to Lexington the form of betting we know today as parimutuel (“among ourselves”). In parimutuel betting, bettors gamble against each other rather than against the house. Their wagers form a pool, and that pool is used to determine the odds, rather than odds being determined by a house bookmaker.
Nowadays you’d be hard-pressed to find a gambling institution, especially at a horse race, that didn’t involve parimutuel betting. The wagers are taxed—often around twenty cents on the dollar—and while some of that money goes to the state, a lot of it goes back to the nonprofit racetrack to help sustain and preserve it.
Racing alone, however, did not provide enough revenue for Keeneland to be sustainable. Starting in the 1960s, Keeneland began offering thoroughbred sales, charging a five percent commission on each sale. Thus the Keeneland auction was born. Before this, selling was done primarily at Saratoga.
Nowadays, Keeneland’s spring and fall auctions are two of the biggest thoroughbred sales events of the year. They are a part of horse racing history and a central attraction of the racing season.
Racing Season
In spring and fall, Keeneland hosts three weeks of racing in addition to its famous sales. Spring is a particularly exciting time among horse farms in Kentucky, as both Lexington and Louisville share a global spotlight: Lexington because of the races at Keeneland, and Louisville because of the Kentucky Derby.
The Kentucky Derby is the single most famous day of racing in the world, and contrary to what you may think, it’s not just one race, but rather a whole day of important races. People from around the world come to Churchill Downs, eighty miles from Lexington, to watch, wager, buy and sell, and celebrate the Thoroughbred horse.
Just as everyone knows about marquee sporting events like the Superbowl, World Cup, and US Open, the Kentucky Derby is the one event that casual fans and people outside the horseracing industry are familiar with. Not as many newcomers are as aware of the big in-between events.
In terms of races, Keeneland is the Masters of horseracing. It’s the All-Star game. It’s one of the most competitive and prestigious multi-day events in horse racing. Over the last hundred years, these races have earned Keeneland a place as a cultural and economic cornerstone of the sport. In fact, the equally famous Breeders Cup Championship was hosted at Keeneland in 2022 for the third time in its history.
The racing in April starts with the Blue Grass Stakes, which is one of the last big graded stakes races before the Kentucky Derby. The Blue Grass Stakes has produced nineteen winners of the Kentucky Derby, nine of whom also won The Blue Grass.
Keeneland Photo
Keeneland and Mill Ridge
Just as Lexington is at the heart of horse racing history, central Kentucky is the most important hub of horse breeding for the whole world. Horse farms in Kentucky have the most prolific stallions and mares, and the most internationally renowned breeders. There’s a symbiotic relationship between racetracks and horse farms. That’s where owners and breeders and bloodstock agents come in.
Take, for instance, the names of the horses you see at races. They may be fanciful or humorous, but they are far from arbitrary. Thoroughbred names are typically a nod to their sire lines. ALOHA WEST, a stallion at Mill Ridge Farm, is a good example. Why the Hawaiian Aloha? His dam (mother) was ISLAND BOUND. And why West? His granddam (grandmother) was GONE WEST, whose owners were Gary and Mary West. The names of nearly every thoroughbred you see at the races point to a lineage and the deep, fertile soil of a Kentucky horse farm.
Mill Ridge has been a big part of the industry since it was founded by Alice Chandler in 1962. It continues to make horse racing and breeding accessible to new fans. Even in the last five years, Mill Ridge has helped lead a renaissance in the popularity of the industry, opening its gates to visitors for daily tours called Horse Country.
Hal Price Headley and Alice Chandler
Hal Price Headley helped build Keeneland for the enjoyment of the public. His daughter Alice Headley Chandler, who created Mill Ridge, broke barriers as one of the first women to be a leader in the industry. And now Headley Bell and his son Price are making Mill Ridge open and exciting for all horse lovers and newcomers alike.
When it comes to the history of horse racing, Mill Ridge and Keeneland have become living pillars of the sport. They keep horse racing and breeding relevant and engaging to the public, providing platforms to experience the thoroughbred industry—experiences that are as authentic as it gets.
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Have you ever fed a carrot to a thoroughbred broodmare or foal? Here’s your chance! We schedule group tours and private showings through Visit Horse Country. We’d love to see you at Mill Ridge Farm!