For Brian Niehoff, professor and head of the department of management at Kansas State University, horse racing is an investment. Last summer, Niehoff and six others combined funds to form Superlative Stables in Churchill Downs, Ky. The stables own two Thoroughbred racehorses: a five-year-old filly named Emily's Mark and a three-year-old gelding named Lonesomenumberone.

Niehoff said becoming a racehorse owner was something natural. A native of Louisville, Ky., Niehoff is no stranger to horse racing. Wanting to be involved in the business but not wanting to gamble, Niehoff decided horse ownership was his best option.

Niehoff said he's been pleased with the horses. Both placed first in their first races. Emily's Mark has moved into allowance races and Niehoff said he hopes to see her race in a stakes race this summer. The Kentucky Derby and the Triple Crown are both high-end stakes races. Lonesomenumberone has been in fewer races than Emily's Mark due to illness, and Niehoff said he's hoping to see the horse recover soon.

For Niehoff, being a racehorse owner is about more than winning races -- it's about the experience and the knowledge he has gained from it.

"I went into this knowing that if I got any of my original investment back, it would be great," he said. "But if I don't, the fun of owning the horses and seeing them run has been immeasurable."

PHYSIOLOGY There are many factors that make a horse an elite athlete, said Howard Erickson, professor of physiology at the K-State College of Veterinary Medicine.

"They're designed to be an athlete," Erickson said. "There's no question about that."

The heart is one of the horse's strengths in racing, Erickson said. The size of a volleyball, or basketball in elite horses, the average horse's heart weighs approximately 10 pounds. An elite racehorse's heart may weigh more than 20 pounds and pump more than 300 liters, or 75 gallons, of blood per minute during a race.

Horses are also born sprinters, Erickson said. Eighty to eight-five percent of their muscle fibers are fast-twitch. Humans only have 50-55 percent fast-twitch. Horses also have a higher percentage of circulating red blood cells during exercise due to a very active spleen, allowing them to carry oxygen more efficiently.

Other important characteristics in a racehorse are stride length and stride frequency, he said. An average racehorse's stride length is 20-21 feet long while an elite racehorse, such as Secretariat, may have a stride length of 24 feet. Racehorses also will take up to 150 strides per minute and their stride frequency is synchronized with breathing frequency.

But racing can take its toll on a horse. The most common injuries, Erickson said, are foot injuries and a condition called exercise induced pulmonary hemorrhage. This occurs when the horse's blood pressure in the lungs becomes so high during exercise that capillaries within the lungs burst, causing bleeding and reducing the horse's breathing capacity.

In the end, Erickson said, the most important characteristic of a racehorse isn't physical -- it's mental.

"You can measure heart size, you can measure airway pressure and oxygen consumption, but it's that will to win that really makes the champion," he said.

BREEDING Producing a racehorse is an even different science. Choosing which mare and stallion to breed involves a number of factors, said Pam Davis, a research technician in anatomy and physiology at K-State. Davis is also an owner and breeder of Thoroughbred racehorses. Her herd includes five brood mares she cares for in Kansas but foals in Illinois and Michigan.

The first factor is pedigree. Davis looks at a number of the horse's family members to see if they are active and successful on the racetrack and to see if they are good producers. She also wants to know if the horse itself is proven on the racetrack. One that has raced and won has added value for Davis. Conformation is another key factor. The horse should have a good structure, solid joints and clear, healthy air passages, she said.

The last factor, and oftentimes the one with the most weight, is cost. Breeders have to decide how much they can afford in stud fees and mare purchases and do the best they can with what they have, Davis said.

The right combination of factors and a little bit of luck will result in a successful racehorse -- the breeder's ultimate goal, Davis said.

"When you sell a foal or a yearling and you see it win, you get a lot of pride knowing you bred a horse that does well," she said.

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