KEY POINTS:
Magic Cape has a new owner.
No, it's not another million-dollar deal to sell the $700,000 Mercedes Derby favourite overseas, but prominent owner Gerrard Peterson has bought half the 20 per cent holding of trainer Shaune Ritchie.
The deal was completed this week and Peterson is delighted he has a chance of a derby in New Zealand.
"I've won the VRC Derby with Second Coming and last year I won the AJC Derby with Headturner, but I haven't gone close in the derby here at home with a handful of runners."
His luck on the other side of the Tasman has exceeded his fortunes at home, having won a Melbourne Cup with Brew and a Caulfield Cup with Railings.
"In New Zealand, Second Coming won the Wellington Cup and should have won the Auckland Cup when he finished second."
Peterson is a very private person with his business dealings and will not reveal what he paid for his 10 per cent holding in Magic Cape.
The hugely talented 3-year-old was valued at $1 million when last month his connections went through a proposed sale to Hong Kong interests which was aborted at the last minute.
"This is not about me, it's about Shaune and the horse going forward to the derby," said Peterson.
For a couple of years Shaune Ritchie was employed as private trainer to Peterson, working off the Cambridge property that has subsequently been bought by his father, Frank Ritchie.
"It's great to have Gerrard involved in this horse because he's always supported me," said Shaune Ritchie.
The trainer said Magic Cape was thriving ahead of Saturday's $100,000 Championship Stakes at Ellerslie.
"Since his win in the Wellington Stakes and his exhibition gallop at Ellerslie he has really gone forward.
"Normally I gallop him only twice a week, but he's doing that well I've had no choice but to gallop him Saturday, Tuesday, Thursday this week."
Magic Cape is the $4 favourite for the derby on March 3, well clear of second favourite Stolen Thunder at $8. He is almost certain to shorten in from $4 if he wins well in Saturday's Championship Stakes.
He will once again be ridden by Patrick Holmes, who is now a senior jockey.
