New Mexicans may have a rooting interest in the Kentucky Derby, which will be held Saturday, May 6, at Churchill Downs. The developer of a mixed use community in Rio Rancho, Los Diamantes, has a horse in the race.

Albuquerque resident Pierre Amestoy is co-owner of Practical Move, whose odds to win the race were 10-1 as of Wednesday after the draw for starting posts were announced. 

Wearing red and silver colors and ridden by jockey Ramon Vazquez, the horse will start in the 10th position in the 20-horse field.

Amestoy and his partners bought the horse in 2022.

“Last year, we went to Florida and bought a colt at a 2-year-old training sale,” Amestoy told the Rio Rancho Observer. “We got to see him work out. We looked at hundreds of horses.”

Amestory’s wife, Leslie, was a horse trainer when the couple met, the Observer reported.

Equibase, a website that tracks horse racing results, shows that Practical Move was purchased for $230,000. The horse has already earned $690,000 in two starts this year, both wins, and has career earnings approaching $900,000.

Practical Move has four career wins in seven races and is riding a three-race win streak, last winning at Santa Anita on April 8. 

Practical Move also has one second place finish and has showed three times.

Forte is the race favorite at 3-1 odds, followed by Tapit Trice at 5-1.

Angel Empire was listed at 8-1. Both Practical Move and Derma Sotogake were next at 10-1.

The race begins at 4:57 p.m. Saturday and will be broadcast on NBC media platforms.

Los Diamantes is a sprawling 174-acre site with 578 residential lots, plus mixed use development located near Unser Boulevard and NM 528, according to the Price Land Development Group website.