Keys Discount: A Perfect Season Sealed at Great Meadow

October 25, 2025

On a picture-perfect fall afternoon at the International Gold Cup at Great Meadow in The Plains, VA, Dolly Fisher’s Keys Discount put on another show in the eponymous $50,000 International Gold Cup timber stakes. With leading rider Graham Watters in the irons and training by Dolly’s son Jack Fisher, the six-year-old Maryland-bred notched his fifth consecutive stakes victory of 2025.

It wasn’t straightforward early. The entire field briefly took the wrong path, a wild detour that forced a quick regroup. After the stewards’ review, there was no denying it: the year’s top post-and-rails runner was still the one to beat. Simply put: Keys Discount couldn't be stopped.

The 3½-mile adventure began with Keys Discount assuming command. That advantage evaporated when the seven-horse field jumped off course, but once they returned to the prescribed route, the favorite treated the mishap as a mere blip. With Keystone Thoroughbreds’ Shootist (Luke Carberry) and Potter Group USA/Gaskells Waste Services/Ashwell Stable’s Uco Valley (Freddie Procter) on top as the field reset, Watters let his mount relax, then reasserted at the start of the second circuit. Keys Discount led by a half-length at three miles, stretched to three lengths entering the stretch, and powered home by 10 at the wire.

The result locks up the season title as the leading timber runner (championship based on earnings) with $153,000 in purses this year. Keys Discount is not expected to race again in 2025.

Why This Win for Keys Discount Matters (and What It Adds to a Dream Season)

Perfect 2025: The Maryland Horse Breeders Association notes Keys Discount stopped the clock in 7:56 and is now 6-for-8 lifetime since joining Jack Fisher’s barn, with a career line of 16-6-2-1 and $183,966 in earnings after this win.
Pedigree & Bargain Buy: He’s by Medal Count out of Divertimento (Rizzi), bred by Bryan Minnich, and was a remarkable $2,000 yearling purchase at the 2020 Fasig-Tipton Midlantic Fall Sale—a true rags-to-riches steeplechase story.
How He Got Here in 2025: This season’s haul includes the Middleburg Hunt Cup (Apr. 19), the $100,000 Virginia Gold Cup (May 3), Brown Advisory (Sept. 27, Shawan Downs), and the National Sporting Library & Museum Cup (Oct. 11, Middleburg)—then Saturday’s International Gold Cup to make five straight.
Season Finale: The win clinches the leading timber runner title by earnings; he’s not slated for another 2025 start.

Graham Watters on Keys Discount celebrates success.

Feathers, Fascinators & Fun: Inside the International Gold Cup Hat Contest

At the 88th International Gold Cup on Saturday, October 25, 2025, the always-anticipated Hat Contest delivered a burst of glamour and good humor right in the heart of Great Meadow. Fans gathered at the Winner’s Circle at 2:20 p.m., with prizes presented at 3:00 p.m., threading this race-day tradition neatly between the Grade 2 William H. Allison and the feature timber stake.

The contest celebrated creativity across five crowd-pleasing categories—Best Racing Theme, Funniest/Most Outrageous, Most Glamorous & Elegant, Best Child (Under 18), and Best Men’s Showing—encouraging everything from sleek, high-fashion millinery to witty, horse-centric showpieces. Organizers billed this year’s edition as “bigger, bolder, and more outrageous than ever,” underscoring the pageantry that makes the Gold Cup’s social scene as memorable as the sport itself.

Judging drew local notables as well as seasoned eyes from the media—WAMU’s Natalie Yuravlivker even stepped in as a Hat Contest judge—adding a dash of star power to the Winner’s Circle runway.

As for winners, the Virginia Gold Cup Association shared a first look at several category champions after the event: Crystal Kawler captured Most Glamorous & Elegant, Jake Swenson topped Best Child’s Hat, and Julia Baumgardner won Funniest/Most Outrageous.

About the International Gold Cup & Great Meadow

The International Gold Cup marked its 88th running in 2025 at Great Meadow—a 374-acre equestrian park and nonprofit founded by Arthur “Nick” Arundel to preserve open space and advance equestrian sport. The event typically draws up to ~20,000 spectators each fall.

The International Gold Cup is one of the most prestigious timber races in the United States, showcasing top equine talent and thrilling competition.

Megan Connolly: The Voice Behind the Winner’s Circle at the International Gold Cup

At the 88th running of the International Gold Cup on October 25, 2025, Megan Connolly served as the Winner’s Circle announcer, providing expert analysis and engaging commentary throughout the event. A seasoned figure, Connolly is renowned for her insightful horse picks and dynamic presence at race meets.

Her role extended beyond mere announcements; Connolly offered in-depth rundowns on various horses, highlighting favorites, potential upsets, and long shots before each race. This expertise enriched the spectator experience, especially for those new to steeplechase racing.

Connolly's association with the National Steeplechase Association (NSA) is well-established. She has been a familiar commentator at numerous meets and served as the master of ceremonies at the NSA awards gala in January 2023, underscoring her prominence in the sport.

Connolly's passion for horses and racing is evident in her work, and her contributions to the International Gold Cup have made her a beloved figure among fans and participants alike. Her ability to connect with the audience and provide valuable insights has solidified her status as a key voice in the world of steeplechase racing. Her contributions have significantly enhanced the visibility and appreciation of steeplechase racing, making her an integral part of events like the International Gold Cup.

Farewell to a Legend: The Voice of Virginia Steeplechasing

In a special moment this season, Virginia Gold Cup officials honored retiring race caller Mike Hughes—the voice of Virginia steeplechasing since the late 1970s—with a framed photo of Hughes alongside his longtime colleague Will O’Keefe and a certificate of appreciation, a tribute that the National Steeplechase Foundation echoed as he closes out his final fall, which includes the 2025 International Gold Cup at Great Meadow.

Hughes, known for his distinctive voice and deep knowledge of the sport, has been a fixture at Virginia steeplechase events for decades. His retirement marks the end of an era, and his contributions to the sport have left an indelible mark on the steeplechase community.