KEY POINTS:
The deal is nearly completed to sell class 3-year-old Magic Cape to Hong Kong for what is believed to be around $1 million.
Midweek, Magic Cape passed the rigorous Hong Kong veterinary tests conducted by Murray Brightwell, the Hong Kong Jockey Club's official New Zealand veterinarian.
Late yesterday, the 3-year-old's blood analysis was passed by the Hong Kong club and last night the final touches were being put in place for the sale to be completed.
Last month, $700,000 was refused for Magic Cape, who downed leading 3-year-old Jokers Wild in the $300,000 First Sovereign Trust 2000 Guineas at Riccarton.
Magic Cape is owned by a syndicate, 20 per cent of the shares being held by his Cambridge trainer Shaune Ritchie.
"Interestingly, the decision to sell was not unanimous among the syndicate members, but for that sort of money it's difficult to hold on to them," said Ritchie yesterday.
"Common sense has to rule eventually."
After the group one Riccarton success, Magic Cape was spelled, ignoring races like the Levin Classic, Avondale Guineas and the upcoming Great Northern Guineas at Ellerslie in favour of being at his peak for the $750,000 Mercedes Derby at Ellerslie in March.
"There is no question his future lay as a stayer in New Zealand," said Ritchie.
The agent for the deal was Hong Kong-based Dan Donnel, who said the Hong Kong owner had not finally decided which trainer to send Magic Cape to.
Paul O'Sullivan and Tony Cruz were strong possibilities, however.
Magic Cape was bought by Ritchie for $50,000 at the Ready To Run sale at Karaka.
He has had just five starts for three wins and stakemoney of $211,125, a wonderful advertisement for the Ready To Run.
The connections of many of the Mercedes Derby aspirants will be pleased he is out of the way.
