Baeza rallies for third in Alysheba, points to Stephen Foster

Baeza’s trip in the Alysheba looked worse than the finish. He broke tardily at Churchill Downs, was unprepared at the start, and still managed to grind out third in the Grade 2, $750,000 race at 1 1/16 miles, a run that strengthens the case that Bill Mott has him moving forward at the right time.

Corporate Power won the May 1 race by a neck over Skippylongstocking after a prolonged stretch duel and a stewards’ inquiry into contact and drifting in the lane. The result stood, and Corporate Power stopped the clock in 1:41.82 over a fast track. Skippylongstocking arrived in peak form, riding a three-race graded-stakes winning streak that included the Pegasus World Cup and Essex Handicap, which made the Alysheba a demanding proving ground for Baeza in his first start for Mott.

That first Mott start mattered. Baeza was transferred to the Hall of Fame trainer after the unexpected death of former trainer John Shirreffs in February, and the colt had been trained steadily through the winter at Payson Park. Mott had been considering a softer two-other-than allowance spot before taking on the tougher Alysheba field, and Baeza’s five-furlong gate work in 1:00.60 on April 21 suggested he was fit enough to handle a serious return.

The better-than-it-looked angle is real because the race was shaped by an honest pace and a top-level stretch battle up front. Baeza never got the clean, early position that would have made his job easier, yet he still finished third behind two older horses in form. For bettors, that matters. A bad break can hide a horse’s actual condition, and Baeza’s rally hinted that the foundation is there for a bigger step next time.

That next test is already set. Robert Clay of Grandview Equine confirmed Baeza will run in the Stephen Foster, scheduled for Saturday, June 27 at Churchill Downs. The Grade I at 1 1/8 miles closes June 10 and sits as the summer centerpiece at a track that will also have White Abarrio and Sovereignty in the mix for an older-horse showdown. Baeza already proved he belongs at Churchill Downs when he finished third in the 2025 Kentucky Derby, then went on to win the Pennsylvania Derby and end his 3-year-old season sixth in the Breeders’ Cup Classic. The Alysheba did not flatter him at the start, but it may have sharpened the case that he is peaking for the Foster.