Trainer Shug McGaughey takes aim at Pegasus World Cup title with Code of Honor

Shug McGaughey decided in 1983 that it was too cold in Hot Springs, Arkansas, and began spending his winters in South Florida.

Arkansas’ loss was Florida’s gain, at least in the world of thoroughbred racing.

The 70-year-old Kentucky native has turned Gulfstream Park into his personal playground and Saturday will attempt to add to his long list of racing triumphs there when he sends out Code of Honor in the $3 million Pegasus World Cup Invitational.

“This is where I always wanted to get to,” McGaughey said of winter racing in South Florida.

A victory by Code of Honor in the Pegasus — the richest race in Florida — would give McGaughey yet another major win at a track where he has enjoyed plenty.

His Orb won the 2013 Florida Derby en route to a victory in that year’s Kentucky Derby. In 1989, the first year Gulfstream hosted the Breeders’ Cup, two McGaughey trainees — Dancing Spree and Rhythm — won two of the seven championship events while a third, Easy Goer, just missed in a dramatic Classic loss to Sunday Silence.

The track’s media guide is littered with McGaughey wins in important stakes.

All told, McGaughey has saddled 314 career winners at Gulfstream with $16.9 million in purse earnings. But a win Saturday in what will be only the fifth running of the Pegasus would be a first for the Hall of Fame trainer. Code of Honor, a 5-year-old owned by W.S. Farish, is listed as the 9-2 second choice on the morning line behind Knicks Go, the 5-2 favorite.

“He’s a fun horse to take over there because you pretty much feel like he’s going to run his race,” McGaughey said.

Code of Honor has won six of his 15 career races, finished worse than third only three times and boasts lifetime earnings of $2.6 million. His top victories came during his 3-year-old season in 2019 when he won the Fountain of Youth at Gulfstream and Travers at Saratoga.

And he finished third in the 2019 Kentucky Derby, beaten only 1 1/2 lengths, before being elevated to second when first-place finisher Maximum Security was disqualified for interference.

“A lot of times he got beat, he might have had a little bit of an excuse here and there,” McGaughey said. “But he’s sort of survived the battles, and he’s getting ready to start again as a 5-year-old. So, if we can get him through this campaign, it’ll be fun. I think we can hold our own.”

Code of Honor isn’t the only prominent horse McGaughey will be saddling Saturday. The trainer has two starters scheduled to take part in the $1 million Pegasus World Cup Turf Invitational: North Dakota and Breaking the Rules. Both are listed at 10-1. Trainer Todd Pletcher has the two lukewarm favorites — Colonel Liam (7-2) and Largent (9-2) — in the Grade I turf event.

With Code of Honor, McGaughey not only has 11 other horses to contend with in the 1 1/8-mile stakes, but also a poor post position. Code of Honor and jockey Tyler Gaffalione will break from Post 10. With a short run to the first turn, Gaffalione will try to find a way to quickly move toward the rail in order to save ground, not an easy task when there are nine other horses crowding for position to his inside.

“Not the best one,” McGaughey said of the outside post. “But I’ve got a lot of confidence in Gaffalione. He knows this racetrack. He’ll know what to do.”

Gaffalione will be riding Code of Honor for the first time after John Velazquez had been aboard for all but one of the horse’s previous 15 races. For the Pegasus, Velazquez will be on Mr. Freeze, a 15-1 shot.

Knicks Go will receive the services of jockey Joel Rosario for trainer Brad Cox. The 5-year-old Maryland bred horse is coming off three straight wins, including a resounding 3 1/2-length victory in the Breeders’ Cup Dirt Mile in November.

“It’s a very prestigious race,” Cox said of the Pegasus. “It means a whole lot. It’s a race that can make a stallion, and that’s what we’re trying to do with Knicks Go. He’ll be a stallion at some point. This would mean a lot and do a lot for his value as a stallion.”

McGaughey said there are no immediate plans to retire Code of Honor to stud, and the horse will likely race throughout the year.

And McGaughey himself has no plans to retire. But when he does, he said he will do so in South Florida, where he can enjoy the sunshine and warmth.

“If I retire, I’m going to retire down here,” he said.

This story was originally published January 21, 2021 at 2:45 PM.