Coolmore have confirmed the purchase of Kentucky Derby winner Fusaichi Pegasus, who will stand at their American arm, Ashford Stud, in Kentucky.
The Japanese-owned colt was sold over the weekend to the County Tipperary-based operation.
Coolmore spokesman Richard Henry was unwilling to disclose the selling price, but industry sources have estimated a figure of US60-70million. The previous record for a stallion prospect was US40 million, paid for Shareef Dancer in 1983.
'Coolmore made a substantial offer and we have received confirmation that Coolmore's bid was the highest,' commented Henry.
The global nature of Coolmore helps to justify the apparently massive outlay.
It will have the ability to keep the purchase price by shuttling him between their operations in the Northern and Southern hemispheres.
To justify a purchase price of 70 million, they could conceivably begin with an American stud fee of up to 200,000 live foal, which would generate as much as 20 million per year if Fusaichi Pegasus were to cover 100 mares annually.
A fee of 200,000 would be the highest first-year stud fee since Conquistador Cielo's 182,000 fee in 1983.
'Fusaichi Pegasus was the top-priced yearling by far in his year, he's by Mr Prospector, he's got an outstanding pedigree and he won the Kentucky Derby,' Henry said.
'That is the Holy Grail. They come along once in a lifetime.'
Many of the world's leading stud farms are believed to have been involved in making offers for the horse in recent weeks.
He was bought by Tokyo multimillionaire Fusao Sekiguchi as a yearling in 1998 for US4million at the Keeneland July Sales, where Coolmore were among the underbidders. His sire, the legendary Mr Prospector, died last year, aged 29.
Fusaichi Pegasus will probably race at least once more. Trainer Neil Drysdale plans to run him at the Breeders' Cup meeting at Churchill Downs on November 4.
Fusaichi Pegasus has not raced since finishing second in the Preakness Stakes on May 20. He was withdrawn from the Belmont Stakes because of a minor hoof injury Drysdale said he suffered in his stall at Aqueduct while preparing for the third leg of the Triple Crown.
'He's going to start training in another week and his ultimate objective will be the Breeders' Cup Classic,' Drysdale told the Thoroughbred Times. 'We haven't really mapped out a schedule for him yet.'
He confirmed that he had decided to take advantage of the foot injury to give Fusaichi Pegasus an extended break.
'We just decided, as he was having a bit of a rest anyway, to go on ahead and give him a proper one,' he said.
The English-born trainer spent last week at Royal Ascot, where he witnessed one of Fusaichi Pegasus' main potential rivals for this year's Breeders' Cup Classic, Godolphin's Dubai Millennium, who trounced a good field in the Prince of Wales's Stakes.
When asked about Dubai Millennium's performance, Drysdale said: 'It was simply electrifying.'
