KEY POINTS:
The value of champion pacer Changeover has rocketed into a new stratosphere for New Zealand harness racing.
Herald sources have revealed the syndicate that race the great 3-year-old are considering an offer which values him at $3 million plus GST, regardless of what he does in the next
year.
The offer is believed to be from Canterbury trainer and studmaster Michael House, who runs Double E Stables, although it seems likely he is acting, at least partly, on behalf of others.
The formal offer is for $2 million plus GST for a two-thirds stake in Changeover at the end of his 4-year-old season.
The ATC Trot syndicate - made up of 50 shares - which race Changeover could retain the remaining third or sell their shares individually for $20,000 plus GST each.
The offer states the syndicate can race Changeover where and when they want until after the Harness Jewels at Cambridge next season.
He would then have to pass a veterinary examination for the deal to be completed.
That would mean House and his partners would have control of Changeover for the remainder of his racing life and then his stud career.
The proposal beats the current record offer - already shared by Changeover - for a racing standardbred in the Southern Hemisphere.
Earlier this season Canterbury stud Neleve R made an offer valuing Changeover at $2 million, which equalled the previous richest offer for an Australasian standardbred racehorse, believed to have been for Courage Under Fire the day he won the New South Wales Derby.
But early indications are Changeover will be staying put, with most of his owners, in their own words, "living a dream".
Changeover was purchased for just $28,000 at the Karaka yearling sales two years ago and was part of a three-horse package offered by the Auckland Trotting Club in their annual ATC Trot Syndicate.
After a sound 2-year-old season he has won 12 of 14 races as a 3-year-old and is now being aimed at the Australasian Breeders Crown and the New Zealand Cup.
He is likely to race next in a non-tote heat of the Breeders Crown at Cambridge on July 28.
With harness racing stakes and stud fees reaching levels that were unthinkable five years ago, the $3 million offer is realistic rather than ridiculous.
If he continues to improve Changeover could easily win at least another $1 million on the track, perhaps even more.
That would see him retire as one of our greatest racehorses and, having been beautifully bred, he could expect to attract 250 mares in his first two seasons at a $7500 stud fee.
While those conservative figures don't take into account training and driving percentages, expenses and stud operating costs, it still leaves Changeover with earning potential of close to $5 million in the next four years.
And that is without the possibility he could win vastly more money on the track and be worth a lot more at stud.
By accepting the offer the syndicate would take all those risks out of the equation though and still retain their third share.
If Changeover was owned by a smaller group, such an offer would be hard to turn down. For 50 people living a dream it might be a bit easier.
The final decision on the offer will be made at a meeting on Wednesday week.
* Interdominion champion Blacks A Fake returns to racing tomorrow.
The dual Interdominion hero will clash with former Taylor Mile winner V For in a lowly race at Albion Park in Brisbane.
He will use it as a lead-up to the Sunshine Sprint and Winter Cup next month, when he will clash with dual Miracle Mile winner Be Good Johnny and New Zealand and Auckland Cup winner Flashing Red.