Ed McNamara, (N.Y.) Newsday
BALTIMORE -
Stunningly easy triumphs in the Kentucky Derby and the Preakness, plus a megabucks stallion syndication deal. Big Brown and his connections are having a very good month.
A few hours before the undefeated colt dominated the Preakness by 5 1/4 lengths, International Equine Acquisitions Holdings Inc. announced on Saturday that Big Brown will stand at stud at Three Chimneys Farm in Midway, Ky., when his racing career is over. Financial terms were not disclosed. IEAH co-president Michael Iavarone said this past week that the colt will not run next year as a 4-year-old.
"We have entertained a variety of flattering offers, but felt Three Chimneys was the best for us," Iavarone said in a statement on IEAH's Web site, ieah.com. "We were determined to participate in his breeding career and (this) deal has given us the best opportunity. We are very excited to partner with the likes of Three Chimneys, and will be afforded the opportunity to stand this brilliant colt alongside Smarty Jones and Dynaformer in the breeding capital of the world."
Robert Clay, president of Three Chimneys, said: "[We] are thrilled to stand a horse of Big Brown's caliber." Speaking before the Preakness, Clay said, "Having won every race he's run with such ease, I don't think we've seen what he's truly capable of."
IEAH paid a reported $3 million to Paul Pompa Jr. last September for a 75-percent share of Big Brown. He's been a stunning success, going 5-for-5 by a combined 39 lengths and earning more than $2.7 million, but he would have to sweep the Triple Crown to show a profit on that transaction.
Iavarone refused to confirm reports that Big Brown's deal with Three Chimneys was worth $50 million.
The record stud price was $60 million for Derby winner Fusaichi Pegasus in 2000 with Ashford Stud in Versailles, Ky. The next year, Three Chimneys brokered a $50-million deal for Point Given, winner of the 2001 Preakness, Belmont and Travers. In 2004, Smarty Jones ($39.4 million) also went to Three Chimneys after taking the Derby and Preakness while undefeated.
To thoroughbred breeders, an undefeated Kentucky Derby and Preakness winner is the reincarnation of Pegasus. When the colt also has excelled on the grass, his commercial potential increases exponentially.
It's the great conundrum of the sport, when a superstar becomes too valuable to race anymore. For the fans, it's always upsetting; for the owners, a tremendous stud deal nearly always is an offer they can't refuse. As Iavarone said before the Derby, "The money is in the breeding, not in the racing."
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