National Treasure Retires to Spendthrift Farm

National Treasure, the three-time grade 1-winning son of Quality Road, has been retired from racing and will take up residence at Eric and Tamara Gustavson's Spendthrift Farm near Lexington, the farm announced Nov. 6. He will enter stud at an introductory fee of $40,000 with a stands and nurses guarantee. The winner of the 2023 Preakness Stakes (G1) and victor in the Pegasus World Cup Invitational Stakes (G1) and Metropolitan Handicap (G1) in 2024, is now available for inspection by appointment. "National Treasure comes to Spendthrift with the credentials to become an important sire, and we are very excited for him to enter the next chapter in his already tremendous career," said Ned Toffey, Spendthrift general manager. "This horse was precocious enough to place in a very competitive Breeders' Cup Juvenile, he's an American classic winner at 3, and he was one of the top older horses this year with wins in premier races like the Pegasus World Cup and the Met Mile. National Treasure was fast, possessed tremendous grit, and is an exceptionally good-looking colt with outstanding sire power and pedigree—a truly special package." Trained by Bob Baffert, National Treasure was scheduled to make his final start in the Nov. 2 Breeders' Cup Dirt Mile (G1) at Del Mar, where he figured to be one of the biggest favorites in this year's world championships event. However, he came out of his Sept. 28 narrow runner-up effort in the California Crown Stakes (G1) at Santa Anita Park with a minor foot bruise, which ultimately forced him to miss the Dirt Mile. "National Treasure was one of the most consistent and reliable horses I have ever worked with," said SF Bloodstock's Tom Ryan. "In addition to his elite race record—competing in 13 grade 1 races over 28 months—he completed 75 published workouts in California, demonstrating an insatiable appetite for training. His physical makeup contributed to his longevity: he is very streamlined—almost light—but possesses great power and efficient motion with a high cruising speed. It's unfortunate that we missed the chance for a third Breeders' Cup appearance due to the bruised foot. It was just bad timing. We are very proud that he will now begin his stallion career at the famed Spendthrift Farm." National Treasure, a $500,000 yearling purchase at the 2021 Fasig-Tipton's The Saratoga Sale, began his career at 2 with a debut victory at 6 1/2 furlongs, defeating eventual grade 1 winners Practical Move and Mixto at Del Mar. He later finished second to Cave Rock in the American Pharoah Stakes (G1) at Santa Anita before traveling to Keeneland, where he ran a solid third behind the more experienced 2-year-old champion Forte in the Breeders' Cup Juvenile (G1). As a 3-year-old, National Treasure became Quality Road's first classic winner, claiming victory in the Preakness at Pimlico Race Course, defeating Kentucky Derby (G1) winner Mage. He concluded his sophomore season with a narrow loss by a nose to subsequent Horse of the Year Cody's Wish in the 2023 Breeders' Cup Dirt Mile at Santa Anita, earning a 115 Equibase Speed Figure for his effort. National Treasure carried that momentum into 2024, establishing himself as one of the top older horses in training with a victory in the Pegasus World Cup at Gulfstream Park, where he earned a 114 ESF. In the spring, he delivered a dominant 6 1/4-length victory in the prestigious Metropolitan Handicap at Saratoga Race Course. An earner of $5,578,000, National Treasure was campaigned by owners SF Racing, Starlight Racing, Madaket Stables, Robert Masterson, Stonestreet Stables, Jay Schoenfarber, Waves Edge Capital, and Catherine Donovan. Peter Blum bred National Treasure out of the Medaglia d'Oro mare Treasure, who also is the dam of stakes winner Ultimate (Speightstown) and grade 1-placed winner Pirate (Omaha Beach). Treasure is the daughter of the stakes-placed Mt. Livermore mare Proposal, making her a half sister to graded-placed stakes winners Elope and Silver City and stakes winners Initiation and Inspired. The immediate family also produced grade 1 winners Well Chosen and Leofric along with Canadian 2023 champion 3-year-old filly and King's Plate Stakes runner-up Elysian Field.