Though Giacomo didn’t win any of his races this year until Saturday, Smith said the colt was making small strides forward with each start, building toward the ultimate goal of the Derby.

“Every race was just a little step ahead, a little step ahead,” he said.

Shirreffs said that even though most experts gave his colt little chance in the race, he had faith in his horse and believed he would give a good account of himself as the distance lengthened to the Derby distance of 1 ¼ miles.

“I was thinking the East Coast horses were getting a lot of the press,” he said. “But horses can peak for races and then they could drop off. I knew Giacomo was a pretty steady performer and I knew he hadn’t peaked yet.”

Shirreffs became the third straight trainer to win the Derby on his first try. John Servis won with Smarty Jones last year, and Barclay Tagg won with Funny Cide in 2003.

Slide show   Hat fashions at the Derby From funny caps to sophisticated creations, see the fashions seen at the 2005 Kentucky Derby.

By capturing the winner’s share of the $2 million purse – doubled since last year – Giacomo pushed his earnings to $1,866,316 for the Mosses.

Meanwhile, Zito was left with only questions about what happened to his cadre of contenders.

“It looked pretty good turning for home with High Fly and Bellamy Road, but it didn’t happen for us today,” he said. “… I don’t know really. It’s racing, obviously, and I guess you just keep trying.”

Bellamy Road’s disappointing finish comes three weeks after an astonishing 17½-length win in the Wood Memorial. Steinbrenner watched the race from a private suite and wasn’t available for comment, but Zito said afterward the owner told him: “Just keep trying.”

Don’t Get Mad was fourth, followed Buzzards Bay, Wilko, Bellamy Road, Andromeda’s Hero, Flower Alley, High Fly, Greeley’s Galaxy, Coin Silver, Greater Good, Noble Causeway, Sun King, Spanish Chestnut, Sort It Out, Going Wild, Bandini and High Limit.

Giacomo also returned $45 for a place bet and $19.80 to show. Closing Argument, ridden by Cornelio Velasquez, paid $70 and $24.80. Afleet Alex, with Jeremy Rose aboard, paid $4.60.

If Giacomo goes on to win the Preakness in two weeks, the stage would be set for a fourth straight Triple Crown try in the Belmont Stakes on June 11. War Emblem in 2002, Funny Cide and Smarty Jones each won the Derby and Preakness, but came up short in the Belmont.

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