WHAT'S IT ALL ABOUT

The start of 2011 was most exciting with the anticipation of my son Price joining me at Nicoma. Gatewood (who many thought was my son) had been with me three years and always intended on going out on his own. He informed me in September of his desire to venture out and thus left me a position to fill. Ever since I began the transition of blending Mill Ridge and Nicoma, at the beginning of 2008, I had contemplated growing a foundation to allow Nicoma to grow for years to come. Naturally, much of my focus and energy was dedicated to Mill Ridge. Thankfully, the foundation was very solid with Mill Ridge, led by Duncan McDonald, farm manager for 30 years. In my opinion, Duncan is as gifted a horseman as exists in central Kentucky, and I think Mill Ridge's record of "Raising and Selling Racehorses", our slogan, demonstrates this. Certainly, 28 (G1) winners since 2000 is an enviable record.

Believe it or not, Price was not immediately on my mind as a replacement for Gatewood. This is not to suggest that he hasn't the talent for he certainly does. In fact, that is why he wasn't on my mind because he was doing so well in the field he gravitated to, commercial real estate, since graduating from Vanderbilt. Working in Nashville, he was managing a fabulous property and earning his MBA from Vanderbilt's Owen School of Business on the side. The school is a two year program every other Saturday and demanding in its own right without adding a full time job to the mix. Yet, he thrived in this setting, as was his significant other, Beth Thomas, working for the Tennessee Land Trust. Price has always had a passion for the horse and this Thoroughbred business. He knew one day he wanted to be involved, but assumed it would be after he had been successful in business and could afford to participate.

Also, maybe difficult for some to believe, is that I have never emphasized with my family the need to carry on the "Headley" name in this business. While I am fifth generation and most proud of the name and all that it stands for, I think you have to demonstrate your desire to participate in this business for the love of it rather than carrying on a tradition. So often families try and carry on a business because those before them have been successful and it is presumed someone in the family will continue with it. Thankfully, in my family, those before me demonstrated a passion for the business and a gift of horsemanship and vision. They set an example and it was my challenge to build on that on my own rather than for what they built. I have been fortunate in my own right participating in this business and working with the very best clients and friends. Price and his siblings understood this growing up. Like me, they have enjoyed and appreciated the family involvement in the Thoroughbred business. They realize they need to grow their own interests and passions for happiness and fulfillment. When Price accepted my offer to join me at Nicoma it was very meaningful to me and his mother. He joins me to carry on the next generation, because he has a love for this business and believes he can make a positive contribution to its future. As a parent, that is as fine as it gets and I/we look forward to the future… one day at a time.

	Warm Regards,