How did you get into racehorse ownership?

I’ve been racing all my life. I started with my late father Walter when I was about nine years old, all around the south of Ireland. We are from Waterford and now live in Dunmore East.

I lived in the US for about 28 years and there we were involved in partnerships in flat racing. We returned to Ireland on retirement about six years ago and now our interest is mainly focused around breeding.

What was your best day at the races and why?

I’ve had two great days and that came about through our mare Definite Ruby. She won the Hanlon Concrete EBF Glencarraig Lady Mares Handicap Chase at the Punchestown Festival in April 2017, having won the same race the previous year. It was terrific to win those graded chases with her especially as tragically she broke her leg afterwards.

What is the biggest drawback about being a racehorse owner?

You have to go into it with your eyes open. The worst thing about owning horses is injury or death – what do you do then?

In your experience, which racecourse in Ireland treats owners the best and why?

The very best is Punchestown. They have nailed it. You get taken inside and the owners and trainers facilities are very well policed. It’s a very good day out.

Some other courses are not so good. My personal beef is Killarney and Wexford. After a long journey to Killarney, there might be coffee and a biscuit left out at the bar after the fourth race. Wexford give you absolutely nothing. And it’s nothing to do with size – look at Ballinrobe and Sligo. And Tramore has excellent owners and trainers facilities.

Flat or jump racing, which do you prefer?

Jumps, we are National Hunt people. I’ve no real interest in the flat, I might look at the Arc if it was on the television but I would look out for all jumps racing even Kelso on any day! I’m watching from another angle, thinking about the stallions and the breeding.

What qualities do you look for in a trainer?

Honesty and a good communicator. Gordon Elliott is a great man that way especially. You might not know if your horse is up to scratch or not but he will tell you straight out. He’s always available on the mobile or rings you right back. He makes time and is fair to all owners.

What significance do your colours hold?

My wife Noeline picked them out, she likes pink and purple. They sure have been lucky for us.

When buying a horse, what do you look for?

It’s very seldom that we buy unless it’s a standout that we can pick up cheaply.

I would like to pay tribute to two people who are very important to us and have helped in building up our breeding business – Paul Roche and his father Johnny.

Paul is a former jockey and used to train. He has a great ability to vet a horse and I think has a bit of a horse whisperer gift. The Roches are a huge part of our operation.

What horses do you have in training?

We have several. Creadan Grae won at Perth at the end of last month and we bred him. Creadan Belle, who we also bred, is entered at Hexham today as is Creadan Grae. They are named after our farm, Creadan Head Stud near Dunmore East. Hammerstein won at Tramore in August; he was bought by Paul. Bold Gesture by Presenting has been bought in and should be out to race for us in a few weeks. And then we have two lovely three-year-olds by Scorpion.

What’s next on the agenda for your horses?

We might get a run in Ayr towards the end of the month and Tramore in the next couple of weeks. We love going to the Scottish tracks, Perth, Ayr – usually there’s gorgeous ground, the service is unreal, white tablecloths, a bottle of wine, people coming over to check if you are okay. We want to go there. Over the winter it’s not the right ground for us but imagine if one of ours was a Cheltenham horse … That would be something, we can all dream!

Have you any horses to look forward to? (i.e. young/unbroken horses)

We buried a yearling by Saddler Maker a few weeks ago. We think she was struck by lightning. She was blinded in one eye and couldn’t be saved by the vets. There’s very few Saddler Makers around so it was a substantial monetary loss as well as very sad.

What would help to make Irish racing more competitive for the smaller owner/trainer?

There should be races for the smaller graded horses and the programme is improving for those types. Our horses are not for sale, but to get a chance to win is very important for the small owner/trainer and the syndicates.

It’s worse on the flat but at least the prize money is good. The big boys can still be good sports; when Definite Ruby beat one of J.P.’s at Punchestown he came straight over to shake our hands.

What advice would you give to someone thinking of becoming a racehorse owner?

Find someone to advise you who is trustworthy and has a great knowledge of horses. It’s easy to read a page and they all look a million dollars, but some people have that extra eye.

Put your horse in training with someone you can completely trust. You can’t be an eejit waving a cheque book around – you’re going to get done!

Jim Power was in conversation with Olivia Hamilton