Case study: Ramiro Restrepo and Fasig-Tipton

How Latin Americans are playing a role in U.S. Thoroughbred sales

Ramiro Restrepo, Latin American Market Representative for Fasig-Tipton, focused on his work at the 2016 Saratoga Select Yearling Sale. Linzay Marks photo

Ramiro Restrepo refers to his base in Miami, Florida as being like “Latin America part 2,” emphasizing the high-volume Latin American influence in the city – from decision makers, government and civic leaders, real estate, media and entertainment, and Latin American natives with second homes in the United States.

Restrepo was based at Gulfstream Park a few years back when he connected with Fasig-Tipton, the oldest Thoroughbred auction company in North America (“History”). The company then met with him to discuss their upcoming project: hosting the 2015 Florida 2-year-olds in Training Sale at Gulfstream Park for the first time. Several attributes made Restrepo an obvious candidate for a position that did not yet exist at Fasig-Tipton: a market representative for Latin America. Restrepo called the creation of his position a “connect the dots thing,” due to the recent impact of Latin Americans at Fasig-Tipton sales, and described the initial meeting during an interview before the 2016 Saratoga Sale of Selected Yearlings in Saratoga Springs, New York: Continue reading

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History of Latin Americans in the U.S. Racing Industry

From immigration to the jockeys who started it all

There is a tendency to group the Latin American[1] immigrants coming to the United States into one lumped sum. However, by breaking them apart, you can better analyze the demographics per each country. I will outline a few of the statistics from South America alone. According to the Department of Homeland Security, in 2015, 72,309 people from South America sought permanent residence in the United States: 1,596 from Chile, 3,730 from Argentina, 158,619 from Mexico, 9,144 from Venezuela, 10,148 from Peru, among many other countries (Table 3). The Department of State 2016 Report of the U.S. Visa Office accounts 669 Employment Preference Immigrant Visas Issued (by Foreign State of Chargeability or Place of Birth) for people from South America for the fiscal Year 2016, along with 241 from Mexico, which is included under North America (Table III). These give a general idea of current immigration rates. Continue reading