After a year off due to the pandemic, the Lake Placid, N.Y., Horse Shows have “come back very strong,” said chairman Philip Richter, as the two-week competition looks toward the future.
Those involved with the shows are working on two-, four-, six- and 10-year plans, which is difficult, Philip pointed out, because his worry is “more what does the sport look like in 10 years and how do we stay relevant?”
He believes the answer is, “you have to have great facilities and keep reinvesting in your facilities; you have to keep upping the prize money. You have to have people have a great experience and thank them for coming.”
Part of the planning for Lake Placid involves considering whether to have FEI classes, but that hinges in part with getting more land from the town so “FEI could be a reality.”
This year, the shows were full with nearly 1,000 horses and couldn’t “take another horse,” noted Philip, pointing out that a lot of new people have come into the sport recently. There was not shortage of grassroots riders on hand, and even without FEI, there also were plenty of big names such as McLain Ward, Devin Ryan and Joe Fargis.
Alex Matz and Cashew CR, winner of the Richard Feldman Grand Prix, where the presentation included Dianna Feldman (right) Richard’s widow, with Philip Richter (far right), who succeeded Richard as Lake Placid show chairman. (Kind Media photo)
Not only would an FEI initiative require more space, it also would involve getting a sponsor to guarantee a five-year commitment “because you can’t just dabble in FEI and not swing the club all the way through,” said Philip. The show is trying to get a grant from the state of New York to make some improvements, since it is “the single-best revenue-generator in the town of Lake Placid, period.”
While the Ironman Triathlon might bring in 30,000 people, “they sleep in their Subarus and eat granola,” Philip pointed out.
Those who come for the horse show, on the other hand, spend a lot of money on restaurants and hotels in the community that hosted both the 1932 and 1980 Winter Olympics. Many consider a trip to the scenic site in the Adirondacks a vacation as well as a competitive opportunity.
The shows, sponsored by Bainbridge Farms LLC and presented by Sea Shore Stables LLC, wrapped up over the weekend. As usual, they were a tradition that keeps exhibitors and their families returning for several generations.
A case in point involved Alex Matz, the son of longtime Lake Placid competitors Michael Matz (a three-time winner of the grand prix) and Alex’s mother, D.D. Matz. Alex won the first grand prix of his career, the $100,000 Richard Feldman class on Cashew CR, during the initial week at the showgrounds. Unstoppable, he returned Saturday during the I Love New York show to take his second grand prix, the $100,000 Great American Insurance Group feature, riding Davidson.
Alex Matz and Davidson. (Kind Media photo)
Laura Chapot, whose parents, Mary and Frank Chapot, made the trip to Lake Placid for years, also was a big winner in a variety of jumper classes.
The grass grand prix field benefitted from a year off, giving the roots a chance to grow deeper. Meanwhile, a $1.3 million investment in footing was made for the schooling rings and the hunter arenas.
Courses were laid out by Irish designer Alan Wade, who also did the 2018 FEI World Equestrian Games and the 2017 Longines FEI World Cup Finals. Other familiar names in key positions were manager Michael Morrissey, as well as announcer Peter Doubleday and David Distler, a top-of-the-line judge and steward. As Philip describes them all, “people who know what they’re doing.”
That would include the show’s administration. Younger folks have been added to the board and there is “an executive committee full of smart people who understand finance and business,” Philip pointed out.
He learned from his namesake and grandfather, the late Philip Hofmann, chairman of Johnson & Johnson. Philip paid attention when his grandfather advised, “you’ve got to surround yourself with really smart people. You don’t want to make a lot of unnecessary mistakes.”
As Philip noted, “I don’t make any decisions in a vacuum. Everything gets run by the committee and then goes to the board for approval.”
Lake Placid is a big responsibility for Philip, who works full-time as president of Hollow Brook Wealth Management.
So with all his other responsibility, what keeps him going at the helm of Lake Placid?
The reason is simple, he explained: “I’ve been showing here since I was a kid. I love it.”