Are you serious? Multiply 277 mares bred by the $20,000 stud fee per breeding. See what you get.
Yes I am serious.
Stud fees are paid on life foals only. (Stand and suck)
Not all mares bred get in foal.
Not all mares carry to term.
Not all mares deliver a live foal.
Of the 140 mares bred in 2024 to foal in 2025, there has of today only been 104 registrations. There will most likely be a few late registrations, but not many.
Sometimes a top driver is given a free breeding(s).
Sometimes the trainer is given a free breeding(s).
Confederate is owned by "The Confederate Syndicate".
Each syndicate member is allowed so many breedings per share. He may use them on his own mares or make deals with them.
After breeding many mares, for many years, and at several farms, I have found that the advertised stud fee is just like the dealer sticker on a car. Only a starting point.