This week, at the 2-year-old-in-training sale in Ocala, Fla., millions of dollars will be spent on horses by people dreaming of getting to the Kentucky Derby.
Chris Melton found a Derby horse for $2,500.
Melton may no longer own a piece of the 3-year-old Chunk of Gold, runner-up in the Louisiana Derby and Risen Star Stakes this winter at Fair Grounds, but he will have a story to tell should Chunk of Gold pull an upset in Kentucky Derby 151 at Churchill Downs on May 3.
Melton runs a training center in Columbia, Ky. His profession is buying yearlings, breaking them and, when possible, selling them. At the Fasig-Tipton yearling auction in October 2023, Melton purchased a son of Preservationist out of the Cairo Prince mare Play for Gold for $2,500. He’s still not sure why he got him that cheap.
“We talked to the consignors. They had us come look at him, we liked everything about him,’’ Melton said. “I was going to go to $20,000. When I bought him for $2,500, I was pretty nervous until I got back to the barn and took a look at him, and he was okay.”
Melton prepared him at his training center and sent the horse, who became named Chunk of Gold, to his best friend, trainer Anthony Farrior, in Maryland. Chunk of Gold worked seven times at Laurel Park between March 30 and June 7 last year before Farrior thought the horse would benefit from more time and sent him back to Melton.
“He was a little bit body sore, nothing major,” Melton said. “Anthony thought give him a couple of months, let him grow up; he’s a really nice horse, so do right by him.”
During the period in which he was training at Laurel, Melton sold half-interest in the horse to Terry Stephens, a Kentucky-based businessman, for $67,500.
When it was time to send Chunk of Gold back to the track last fall, Stephens wanted the horse to stay in Kentucky so he’d be able to see the horse run. Chunk of Gold was sent to Ethan West, a trainer based at Keeneland but who was moving to Turfway Park.
Larry Holt, a former trainer who now works as Stephens’s racing manager, knew West from when he trained horses and would ship them to tracks where West would sometimes saddle them for him.
Chunk of Gold debuted at Turfway Park on Dec. 19. Breaking from the rail, Chunk of Gold was a little bit green racing close up behind dueling leaders. He got off the fence around the turn, then had to outfight the 4-5 favorite D Bigalow, a horse who had two prior starts, to get the neck victory.
After that race, Melton received offers from people interested in buying Chunk of Gold. Melton wanted to sell his interest. The offer for the whole horse was $200,000 so Melton let Stephens buy his half out for $100,000.
Melton asked for something else.
“We was dreaming big then. I said if he makes it to the Derby I want two Derby tickets,” Melton said.
Deal.
Chunk of Gold made his second start in the Leonatus Stakes at Turfway on Jan. 18. A bit rank early while last of eight, Chunk of Gold leveled off and made a wide rally in the stretch to finish second to Baby Max. That horse came back to run a good second in the John Battaglia Memorial before finishing 10th, with trouble, in the Jeff Ruby Steaks.
It was time to try Chunk of Gold on dirt. In 2021, Stephens made it to the Kentucky Derby with O Besos, trained by Greg Foley. O Besos ran fourth in the Risen Star and third in the Louisiana Derby at Fair Grounds before crossing the finish line fifth behind Medina Spirit in the Kentucky Derby. (O Besos was elevated to fourth with the disqualification of Medina Spirit for a medication violation.)
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Thus, the decision was made to send Chunk of Gold to the Risen Star. While Magnitude took all the plaudits for his runaway 9 3/4-length victory, Chunk of Gold overcame significant trouble to get up for second over Built. Chunk of Gold was following East Avenue, when that horse stopped and jockey Jareth Loveberry had to take Chunk of Gold to the inside where he determinedly rallied to get up for second.
“When that horse came through like that after all the turmoil he’d been through he proved to me he was a racehorse,” Holt said.
Added West: “Nobody was beating Magnitude that day, but I think he would have been a clear-cut second rather than having to duke it out with Built right there at the wire.”
In a return trip to Fair Grounds for the Louisiana Derby, Chunk of Gold raced closer to a strong pace but stayed on well to finish second behind Tiztastic, who rallied from second to last to win.
“I thought it was his best race visually,” West said of Chunk of Gold’s Louisiana Derby. “What I liked about it is he took a big step forward from the Risen Star. He packed on some muscle, he was putting a lot more into his training mentally, and he was a lot closer to what any of us envisioned, including Jareth. Of that first flight of horses he stayed on the best. The trip I envisioned was the one Tiztastic had, sitting way back off a hot pace and running on at the end. [Chunk of Gold] stayed on well and he fought, he didn’t quit.”
West, 32, has been training since 2018. He worked with his brother Aaron, a trainer who maintains a training center in southern Kentucky. Ethan West, whose lone graded stakes win came with Runaway Storm in the 2023 Bryan Station at Keeneland, has about 30 horses based at Turfway.
West said he wasn’t expecting Chunk of Gold to be his first Kentucky Derby starter.
“Everybody who starts training horses, this is what you want, this is the level you’re trying to get to,” West said. “We’re trying to enjoy it and take everything in; also at the same time it’s still business and we still got to prep him the best we can to run.”
West will continue to prep Chunk of Gold at Turfway. He plans to work the colt twice more before shipping to Churchill by 11 a.m. on April 26, the time required for all Derby horses to be on the grounds.
“It’s quiet here. This is home for him. Clearly he handles shipping well,” West said about choosing to prepare Chunk of Gold at Turfway. “We prepared for the Risen Star and Louisiana Derby both at Turfway Park. No need to change what we’re doing.”
As for Melton, he has no regrets selling Chunk of Gold.
“It’s good for my business,” Melton said. “If you don’t sell the good ones you’ll be out of business.”
At the very least, West has his Derby tickets and along with his wife, Amy – the couple will be celebrating their 28th wedding anniversary on Derby Day – will be rooting home Chunk of Gold.
“We’re his biggest fans, I promise you that,” Melton said.
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