Racing: Auction by stud to aid relief work

Coolmore Stud, based in Ireland, Kentucky and Australia, has raised US$2.2 million ($3.14 million) for the victims of the Asian tsunami by auctioning the services of their 50 stallions.

The money will go to the Red Cross and the total figure has been boosted to more than US$3.5 million by a donation from a friend of Coolmore, the stud said after collating the bids.

The auction, which started on New Year's Eve and ended on Tuesday, was a rare chance for breeders large and small to gain access to some of the world's best racing stock.

Coolmore spokesman Richard Henry said: "We hope this contribution will help people to begin to rebuild their lives in some small way.

"We are very aware that many of the bidders have also made private donations to various organisations doing excellent work in south east Asia and we are moved that breeders worldwide reacted so generously to support this very worthy cause."

Champion sire Sadler's Wells led the bidding at $397,000 for the right to send a mare to him.

The winning bidder was Prince Khalid Abdullah of Saudi Arabia, one of the world's top owners and breeders whose great horses over the years include Dancing Brave and Rainbow Quest.

Fusaichi Pegasus, Kentucky Derby winner in 2000, fetched $170,000 just ahead of Giant's Causeway, Europe's top racehorse in 2000, at $160,000.

Multiple group one winner Rock Of Gibraltar, who used to race for Manchester United manager Alex Ferguson, made $92,600.

The figures bid are about 10 per cent above the current commercial rate though the cost of the services of Sadler's Wells has not been disclosed for some time.

Unlike standard stallion servicing where payment is due once the mare is confirmed pregnant, the urgency of tsunami relief meant bidders paid immediately.

Coolmore said breeders had a right of return in 2006 for mares barren in 2005.

Coolmore's 50 stallions worldwide have sired the winners of more than 100 group races every year since 1996.

In 2004, Sadler's Wells, who is now 24, became champion sire for the 14th time.

Coolmore managing director John Magnier is one of Manchester United's two key Irish shareholders along with fellow horse racing magnate JP McManus.

The Asian tsunami struck on December 26 and killed over 150,000 people.

- REUTERS