Join us as excitement builds toward the 152nd Kentucky Derby on May 2 at Churchill Downs. In this new weekly series sponsored by Sky Racing World, we will bring you exclusive interviews with owners, trainers, and jockeys who will provide an insider’s view as they chase the Derby Dream.

Gustavo Delgado Jr. and his father, a highly-regarded trainer in Venezuela, came to the United States in 2014. They established a small training operation in South Florida with the determination to win the Derby. As improbable as that might seem, they achieved their goal when 15-1 Mage brought home the roses in 2023.

Team Delgado is back again with The Puma, who locked up a Derby slot with 56 qualifying points after he captured the March 7 Tampa Bay Derby by three-quarters of a length against highly-regarded Further Ado to break his maiden in his third start. Delgado Jr., who works closely with his father as his top assistant, discussed their prospects on the first Saturday in May during a question-and-answer session conducted on behalf of the Paulick Report.

PEDULLA: How did The Puma get his name?

DELGADO JR.: That’s what we call my dad. The original Puma was a famous singer in Venezuela in the 90’s. They have similar hair. It’s a ladies’ man kind of thing. Back then, not now, my dad would say.

I’m glad he’s going to the Derby because if it turned out to be a maiden claimer, my dad would be on me.

PEDULLA: I understand you are a co-owner through OGMA Investments, as you were with Mage. Were JR Ranch or High Step Racing also invested in Mage?

DELGADO JR.: JR Ranch was not. High Step Racing was originally part of the Commonwealth group (which owned microshares). After Mage, they decided to do their own thing, to create their own group, and they came up with High Step. They have their own thing, they do it well, and they’ve been very supportive of the barn. Originally, we bought this horse for ourselves, and then we invited JR Ranch and High Step. We’re happy to share the success with them.

PEDULLA: Why did you decide to run The Puma in the Grade 3 Tampa Bay Derby even though he was still a maiden?

DELGADO JR.: We are really proud of the horse. Up until now, the horse continues to improve. He can go behind horses, between horses. He doesn’t mind. It’s a good thing to have, especially when you are thinking of a race like the Kentucky Derby. Of course, we are taking it one day at a time.

PEDULLA: You purchased him for $150,000 at the Ocala Breeders’ Sale Spring Sale of Two-Year-Olds in Training. What drew you to the horse?

DELGADO JR.: He was on the chubby side. This is a horse that is heavy in size. He put in a really nice breeze and then when I went to see him, my first thought was, ‘If he can do that with that belly, I wonder what he’s capable of when he tightens up?’ And then the family (the sire is Essential Quality), that is the kind of horse we’re looking for, horses that can go the distance.

PEDULLA: Why was he unraced at 2?

DELGADO JR.: He was a heavy guy and we took our time to get him in good form. We always like to have a fresh horse for this time of year.

PEDULLA: I know you have a strong working relationship with Javier Castellano. He rode Mage for you and now he has The Puma. What does Javier mean to the barn?

DELGADO JR.: Javier has been coming to the barn to breeze the horse. He really liked the horse from the beginning. The confidence of riding the horse each week, I thought, was good.
PEDULLA: Do you feel you are playing catch-up with The Puma?

DELGADO JR.: The operation we have is to go to the Derby. That’s my dream. That’s my dad’s dream. The good thing right now is that Puma has enough points, and that’s a relief. We don’t have to win or run second in the next race, or we don’t even have to run until the Derby. That helps.

PEDULLA: He ran third in the listed Sam F. Davis on Feb. 7 at Tampa Bay Downs. How did you evaluate that race?

DELGADO JR.: In that race, we got to know more about what he wanted and how he could be more effective. In that race, he was inside, pushing, trying to find room to run. When he got back to the barn, it was like he hadn’t even run. All of these horses are learning, even the ones who look like they know it all. They are all developing. The Sam Davis was a good experience for him.

PEDULLA: Does he compare to Mage in some ways?

DELGADO JR.: He is a bit bigger. I would say their running style is amazing in the similarities. They are both easy to handle, easy to train. That’s a good thing to have.

PEDULLA: What can you say about their running styles?

DELGADO JR.: These are horses that can come from anywhere and they will follow the jockey’s instructions. They will make it easy for them. They will go wherever they want them to go and that’s always a good thing.

PEDULLA: What did you learn from winning the Derby with Mage?

DELGADO JR.: Well, you have to have the horse. That’s the main thing. You can be the Michael Jordan of training, and if you don’t have the horse, you’re not going to make it. And once you have the horse, you have to go by him and not what people think. My dad’s experience helps us a lot. He has a good sense of the horse.

PEDULLA: What is next for The Puma?

DELGADO JR.: We don’t have any pressure at all (to get more qualifying points). We can let the horse tell us what he wants to do.

PEDULLA: How does your father’s training style differ from the typical North American trainer?

DELGADO JR.: I would say that consistently strong gallops instead of fast time-oriented breezes would be the difference. But, at the end of the day, if you have a fast horse, it trains fast.

This story was originally published by Paulick Report on Mar 19, 2026, where it first appeared in the Features section. Add Paulick Report as a Preferred Source by clicking here.