Fitri hay horses

Scottish born Jim Hay and his wife Fitri are perhaps some of the most well-known faces in the world of house racing today. Their long love affair with the sport has seen them associated with numerous high profile horses and trainers over the last couple of decades.

Buying shares in Cape Blanco and Fame and Glory, who won the 2011 Ascot Gold Cup, the couple have, to date, invested millions in the industry. Success has enabled them to expand their breeding operation over the years. From his early years in Glasgow and his later career at BP, Jim Fitri has always maintained a close connection to the world of horse racing and betting.

Early Days

Jim Hay was born in Scotland in 1950. Brought up in Glasgow, there was no serious link to horse racing in his formative years as he grew up in a strictly Presbyterian family that frowned heavily on anything to do with gambling. At high school, however, he started to become more and more interested in betting because of the maths behind it and began to find ways to get involved in horse racing, most noticeably watching it on television with his grandmother.

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As a young man, he attended Strathclyde University where he studied applied chemistry. This led him after graduation into working for petroleum giants BP, where he successfully stayed for the next 27 years, working his way up to senior executive level.

In 2002, Hay started his entrepreneurial career when he created the JMH Group which developed two distinct divisions, the first dealing with construction, the second lifestyle and fashion. He also acquired construction solutions firm Fosroc. All the while, however, his continuing attraction to all things horseracing remained and it wasn’t long before his Fitri began to play her part in the industry as well.

Horse Racing and the Hays

Anyone who believed that Jim and Fitri Hay were simply rich and successful people dabbling in the world of horse racing purely as a hobby were simply wrong. Their love of all things equine belied the fact that they have made some major investments in horseflesh over the years. They take their involvement in the industry as a serious business and understand the high risk, high rewards that can be achieved from investing in the right livestock.

His past business dealings with BP and work in JMH Group have held him in good stead when it comes to navigating the world of high quality breeds. As Jim Hays told the Guardian recently:

“Everything we do will have a 15-year strategy, and we run our racing the same way. We will have a long-term strategy, and a five-year business plan to back it up. We have board meetings at which we discuss everything.”

Success and diversification with the JMH Group created a turnover of $600 million and in 2011, the couple found themselves in Scotland’s top 100 richest people list. Now based in Dubai, the couple decided to forge a path in the world of horse racing at the turn of the millennium, all with the same energy and whole heartedness that they had applied to their other business interests. They were aware that the returns from investing in horse racing could be huge but it was also something they both enjoy immensely.

Fitri – From Racing Widow to Racing Enthusiast 

Horses weren’t an initial first love for Fitri, however, who became something of a racing widow in the late 90s because of Jim’s involvement in the sport. He was spending the weekends looking out for race courses to visit, all of which left Fitri the option of staying at home or joining in. It led them to buy their first horses, both of which according to Jim were ‘next to useless’. But that didn’t stop further investment over the next few years as they began to learn more about what they were doing. Fitri now owns several horses and is one of the most well-known faces in the industry. 

First Winner Finally Landed

The Hays had to wait for a long while before their first winner came along. That didn’t happen until 2004 when Barathea Dream, trained by Stan Moore, passed the finishing post in first place. Two years later, Hay was buying Fred Winter’s Uplands, setting up with Moore as the trainer. The aim of Uplands was to create winners, pure and simple, attracting other investors who were willing to buy shares in some impeccably bred horses.

Their most successful year came in 2010 when they managed 27 winners that brought in a healthy £375,000 in prize money and allowed both to join in the Queen’s procession at Ascot. The Hays purchased shares in Cape Blanco out of the Ballydoyle stable which won in three American Grade 1 races in 2011 as well as Flame and Glory which achieved ultimate success at the Ascot Gold Cup.

The couple flew in from the Dubai home to take part in the celebrations when Fame and Glory won and it remains their most significant achievement in their racing careers. Key to their success has been building relationships with many of the world’s top trainers, including Ballydoyle, David Simcock, Andrew Balding and Roger Varian.

Here Comes When – One of the Best

Probably one of their most successful horses in recent years has been Here Comes When which is trained by Andrew Balding. The horse has had 25 runs on the flats with 7 first spots and earnings of over £275,000. Another is Argocat, trained by Nicky Henderson, which has had 4 wins on chases, including earnings of over a hundred thousand. The horses are owned by Fitri and the couple are still looking to expand their breeding operation over the next few years.

In 2011, Jim and Fitri Hays purchased Birch Grove, the former mansion of Prime Minister Harold MacMillan, a location that includes its own private golf course and has entertained guests such as John F Kennedy in the past. The couple continue to invest in their horses and are still hoping for the next Ascot or Cheltenham winner with as much excitement as in the early days.

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