Coolmore in China
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| An artist’s impression of the new horse racing track in China with Coolmore set |
Chinese Government and JV partner TAK Group involve horse racing juggernaut Coolmore in £2.6 billion equestrian development
Attracting
a glittering international crowd of horse racing royalty, breeding
aficionados, private equity groups and billionaires, the annual Karaka
Millions races and New Zealand Bloodstock 2013 Premier Sale wrapped up
yesterday with 323 of the 441 catalogued lots sold for $51,051,500.
The highest sale yesterday was to Melbourne trainer Peter Moody, who
bid $775,000 for lot 330, a colt by Pins, half brother to Cox Plate
winner Ocean Park, from Sayyida (Zabeel).
The stand out however was racing juggernaut
Coolmore’s aggressive bid on Monday at $1,975,000 for lot 63, a colt by Fastnet Rock.
Furious bidding saw the colt’s price quickly soar past the million
dollar mark with Peter Moody and James Harron in the battle early before
making way for David Ellis and team
Coolmore, who fought it out to the end.
In a US $50 million export project between China and Ireland,
Coolmore
last year were named as the initial joint venture partner to establish
Chinas first multibillion-dollar equine facility. With a population of
1.3 billion and the second largest source of wealth in the world, after
the USA, the joint venture will assist China to develop a horse racing
and breeding industry.
The major £2.6billion facility is to commence construction this year
and covers over 3.3 million square metres in Panzhuang, Ninghe County in
Tianjin., China.
The joint venture partners involved in the establishment of the new
horse breeding and property development operation are the Chinese
Government owned, Tianjin State Farms Agribusiness Group; the TAK Group,
a major Malaysian development organisation; and Ireland’s
Coolmore Stud.
Teo
A. Khing showing a plan of the Meydan Racecourse in Dubai, which offers
the biggest prize pot (US$10mil or RM34mil). The falcon, which denotes
speed and decisiveness, is the theme of the project. The falcon’s
‘feathers’ spread out to shelter 10,000 parking bays at the entrance
where they are lined with solar panels
Tianjin State Farms Agribusiness Group and the TAK Group are the
overall partners for the project. Led by its Managing Director,
Harvard-trained, Mr. Teo Ah Khing, the TAK Group was also responsible
for the design, development and delivery ahead of schedule of the
world’s largest international horse racing Meyden Grandstand and
Racecourse in Dubai, United Arab Emirates.
The Irish horse breeding industry is hugely export-orientated, with
Ireland producing over 40% of all thoroughbred foals in Europe. The
sector plays a huge part in the Irish economy, currently generating €1.1
billion annually
Speaking on behalf of
Coolmore
Stud and their joint venture with the Chinese government, Mr JP
Magnier, said: “We are delighted to be one of the first Irish companies
to kick-start this partnership and represent Ireland’s hugely successful
horse breeding and racing industries.
Coolmore also own several horses in joint venture partnership with millionaire
Sir Owen Glenn
(pictured below), half owner of the New Zealand Vodafone Warriors rugby
team, who last year sold his international logistics company for an
undisclosed sum.
Sir Owen
took nine yearlings to the New Zealand Blood Stock Premier Sales over
the weekend, and owns Criterion, the two year old tipped as favourite to
win the $3,500,000 Golden Slipper at Rosehill Racecourse in Sydney on
April 6
th.
Mandi Prager (MP Group) with Sir Owen Glenn, horse racing connoisseur and periodic Joint Venture partner of Coolmore
Sir Owen owns
Blandford Lodge
in partnership with Graham and Helen-Gaye Bax and has had success with
numerous racehorses such as Railings, Headturner, Second Coming, Mr
Fatz, Mr Ubiquitous, Cossack, Voice Coach, Bright Mind and Fairfield
Flame.
The Coolmore boys – expert breeders and coveted international racing group
