Horse Racing

£20.5m of owner shares to be resold due to non-payment


The horses were bought by Epsom Derby (G1) award-winning owner Saleh Al Homaizi in a blockbuster £20.5m spend last fall unpaid and will be resold privately and Spring sale.

Sales companies have been forced into the dilemma of having to contact potential buyers for horses just months after Al Homaizi surprised annual sales in the UK, Ireland, France and the UK. United States with a series of blockbuster contracts signed by stallion dealers. Knight Richard.

Knight has never made public the names of the buyers and their identities were the talk of the blood farming industry last year, but the Racing Post has revealed Al Homaizi, who won the 2007 Derby against Authorized , behind the chain of big money trading in October.

The purchases included 2.6 million euros ($2.4 million) No Now Never sister to Middle Park Stakes (G1) and Prix Morny (G1) winners black beard at the Goffs Orby sale in September, at the time, this was the highest price paid for an annulus anywhere in the world in 2022.

Lot 93 - Sell Goffs Orby on September 27, 2022
Photo: Sarah Farnsworth/Goffs

No Now Never fully deposited is Lot 93 at Goffs Orby Sale

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However, in an email sent on January 6 to individuals who purchased horses at the Tattersalls Book 1 sale in October, the dealer said: “We are writing to you (…) to announce that due to non-payment of the amount owed, we will resold 17 2-year-olds by immediate effect or sale/sale for confirmation.”

The email lists 16 horses purchased at the Tattersalls Book 1 sale for 10,455 million guineas (£10.98 million), subject line is 2 million guineas ($2,379,118) Frankel pony out daring girl and 1.8 million guineas ($2,164,683) Lope De Vega who is the younger sister of the same father Battaash and South Pole . Additionally, there was a lot purchased for Al Homaizi at the Tattersalls Book 2 sale that was listed as unpaid.

Knight declined to publicly name the number that funded last year’s purchases, although the Racing Post revealed that Al Homaizi was the mystery client behind the overspend. The two are the sole directors of SYH Bloodstock, a ride-hailing company founded last year.

The Racing Post also revealed that Knight has been appointed by Al Homaizi as an agent, allowing him to take on various administrative duties on behalf of the owner with the British Racing Authority.

Richard Knight<br /> Tattersalls October Annual Sale Book 1<br /> 10/05/22″ src=”https://cms-images.bloodhorse.com/i/bloodhorse-images/2022/10/f4e4e78938c24086bf27b7393a7e8f65.jpg?preset=medium” style=”border-width: 0px;” title =”Richard Knight<br /> Tattersalls October Annual Sale Book 1<br /> 10/05/22″/><figcaption><small>Photo: www.tattersalls.com</small></p>
<p>Richard Knight at Tattersalls</p>
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<p>Though he did not name Al Homaizi, Knight signaled the owner’s ambitions during the sale and said: “We’re just trying to build a nice team of racehorses and if the ponies are useful or If they have a good lineage, that’s great for us.”  will likely spawn from them at the end of the day.”</p>
<p>Knight also said the horses will be trained in the UK after being broken into, a process that appears to offer a welcome investment in the country at a time when concerns are growing about depletion. talent abroad.  According to an email from the Tattersalls, the horses they have for sale have been pre-trained with Derby winner Adam Kirby.</p>
<p>While the leading auction houses Goffs and Tattersalls outline in their terms of sale that horses must be paid in full before leaving the sale premises, buyers typically have 30 days or more to pay. outstanding loans, with potential buyers being extended a fixed line of credit in some cases.  cases.</p>
<p>Additionally, while sellers state on their terms that sellers will not be paid for their horses until full payment has been received from the buyer, Racing Post understands that sellers goods have been paid to the seller.</p>
<p>Racing Post spoke with a number of suppliers whose horses were contracted by Knight at the sale.  Vendors confirmed that they were paid the price their horses were knocked down in the ring and were not informed by the vendors of any monetary issues.</p>
<p>Al Homaizi has also outbid many other lots, meaning his operation will inflate the market in 2022, costing buyers while increasing the commissions home sellers receive, which will help minimize the loss they may incur when reselling the securities.</p>
<p>Among the horses he bid lower was Frankel worth 1.5 million guineas bought by MV Magnier and Peter Brant during the Tattersalls first book sale, which would, for example, raise £78,750 in cash. commission for Tattersalls.</p>
<p>Al Homaizi, 61, is vice president of Kout Food Group, a Kuwait-based conglomerate that operates fast food brands, including Burger King, Pizza Hut and Taco Bell.</p>
<p>He previously raced in England alongside Imad Al Sagar, the most famous of which was Authorized, who became Frankie Dettori’s first Derby winner.</p>
<p>Al Homaizi exited the partnership in 2018, but appears poised to return to spectacular UK ownership as sole proprietorship.  However, his own future in the sport, and the futures of more than 20 noble stallions purchased by Knight on his behalf, were now thrown into the air. </p>
<p>Tattersalls chief marketing officer Jimmy George said: “Obviously this is an unfortunate situation. We are working with all parties in an effort to reach a satisfactory conclusion and in the meantime we are. has taken steps to resell the 2-year-olds in question.”</p>
<p>In a statement, Goffs chief executive Henry Beeby said “it is the group’s policy that we never comment on such matters, whether confirming or denying,” while a spokesman of Keeneland said the sales company “does not disclose information about our sales customers.”</p>
<p>Arqana did not respond to requests for comment, while Knight and Al Homaizi have been approached for comment.</p>
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