Kentucky Derby Context: Emerging Market

Unbeaten in two starts, Emerging Market broke his maiden going two turns at Tampa Bay Downs in early February and gamely captured the 1 3/16-mile TwinSpires.com Louisiana Derby (G2) at Fair Grounds six weeks later, rallying from just off the pace to prevail by a head. The progressive chestnut colt rates as extremely promising, netting a triple-digit Brisnet Speed rating last out, but his inexperience must be noted: no three-year-old has won the Kentucky Derby in the third start since Leonatus in 1883, according to the Kentucky Derby Media Guide. Only six have tried since 1937, with T O Password’s fifth in 2024 the best result, but Kentucky Derby runners are more lightly raced in this era. We’ll find out if Emerging Market is talented enough to buck a long-standing trend.

OWNER: Emerging Market will be the fourth Kentucky Derby starter for Klaravich Stables (Seth Klarman), Practical Joke’s fifth in 2017, the best result. A billionaire financial expert and noted philanthropist, Klarman was born in New York City and grew up near Pimlico in Baltimore. He has campaigned a pair of Preakness (G1) winners, Cloud Computing (2016) with William H. Lawrence and Early Voting (2022).

TRAINER: Since making his first Kentucky Derby appearance in 2013, Chad Brown has saddled Good Magic (2018) and Sierra Leone (2024) to runner-up finishes and Zandon (2022) to a third, recording an overall 9-0-2-1 record. He trained Klaravich Stables’ Preakness winners, Cloud Computing (2016) and Early Voting (2022), and is a five-time Eclipse Award-winning trainer. A native of upstate New York, Brown served as an assistant to Hall of Fame trainer Bobby Frankel before starting his own stable in late 2007.

JOCKEY: Flavien Prat won the 2019 Kentucky Derby in his third attempt, with Country House being placed first via disqualification at 65-1 odds. A French native, Prat has also ridden runner-up Hot Rod Charlie (2021) and third-place finishers Midway Road (2017), Zandon (2022), and Angel of Empire (2023). The reigning two-time Eclipse Award-winning jockey owns an overall record of 8-1-1-4.

BREEDER: Bred in Kentucky by Stoneriggs Farm (Robert Slack), Emerging Market will be Stoneriggs’ first Kentucky Derby starter as breeder.

SIRE: A world-class sire and noted sire of sires, Candy Ride is 27. The Argentinian-bred son of Ride the Rails proved to be a turf champion in Argentina and established a new track when capturing the 2003 Pacific Classic (G1) on dirt, and he’s best known for siring 2017 Horse of the Year Gun Runner, the record-breaking freshman sire of 2021 and sire of 2022 Preakness winner Early Voting and 2024 Kentucky Derby runner-up Sierra Leone, the latter named champion three-year-old male. 

DAM: Emerging Market hails from a stamina-infused female family and is the first foal to race out of Wild Empress, a daughter of Empire Maker who counts 2009 champion two-year-old filly She Be Wild as a half-sister. By 1990 Kentucky Derby winner Unbridled, Empire Maker won the Belmont (G1) and finished second in the Kentucky Derby in 2003. His offspring include 2009 Kentucky Derby runner-up Pioneerof the Nile, sire of 2015 Triple Crown winner American Pharoah. As a broodmare sire, Empire Maker counts 2021 Kentucky Derby winner Mandaloun among his notable runners.