Female Kentucky Derby trailblazer forced to give up big portion of winnings – Other Sports – Sports
Cherie DeVaux, the first woman to train a Kentucky Derby winner, will forfeit thousands of dollars in prize money to taxes.
On Saturday, DeVaux made history as Golden Tempo, with jockey Jose Ortiz aboard, surged down the home stretch to capture the Kentucky Derby at Churchill Downs. The triumph made DeVaux the first female trainer to win the storied race, sparking emotional celebrations from the 44-year-old.
At 23-1 odds, Golden Tempo was considered an underdog to win the 152nd running of the Kentucky Derby. Nevertheless, the horse secured $3.1 million of the $5 million purse for its owners, St. Elias Stable and Phipps Stable.
Both DeVaux and Ortiz are entitled to 10 percent ($310,000) of the $3.1 million first-place winnings. Yet both will surrender thousands to taxation. For Ortiz, a quarter of his share, $77,500, went to his agent, with an additional 5 percent ($15,500) going to the valet who assisted with his equipment.
Overall, the 32-year-old will receive $217,000 before taxes. With Kentucky’s income tax rate at 4 percent, Ortiz will pay $8,680, bringing his final take-home to $208,320. While it remains uncertain whether DeVaux will forfeit any portion of her prize money to others, 4 percent of $310,000 equals $12,400, leaving her final take at $297,600.
Golden Tempo’s remarkable victory became even more extraordinary considering he trailed in last position at one stage during the race. However, despite what seemed like insurmountable odds, DeVaux maintained confidence that Ortiz and Golden Tempo could still claim victory, attributing this to the horse being “a deep closer.”
In an interview with Today, DeVaux detailed how Golden Tempo’s endurance proved to be his hidden advantage against the competitive field at Churchill Downs.
“So Golden Tempo is what we call a deep closer, so he is out the back,” DeVaux explained.
“He just doesn’t have a lot of speed, but he has a lot of stamina, and towards the end of the race, he does have, we call it a quick turn of foot, so he can make up a lot of ground.
She added, “But just in the early stages, he likes to just hang out behind and let them all do the hard work, and then he can just finish up and beat them all.”
