Point Given to Stand for $125,000 at Three Chimneys After $50-Million Deal
Updated: Monday, September 10, 2001 9:11 PM
Posted: Sunday, September 9, 2001 1:41 PM
Photo: Mike Corrado
Retired dual classic winner Point Given.
Prince Ahmed Salman announced that dual classic winner Point Given will stand at Robert N. Clay's Three Chimneys Farm near Midway, Ky. Clay said on Sunday Point Given will be syndicated into 50 shares and stand for a fee of $125,000 live foal. Richard Mulhall, racing manager of Salman's The Thoroughbred Corp., said the share price is $1 million, putting a value of $50 million on the son of Thunder Gulch, second only among newly retired stallion prospects to the $60-million to $70-million value placed on last year's Kentucky Derby (gr. I) winner Fusaichi Pegasus. Unlike Fusaichi Pegasus, Point Given will not shuttle to the Southern Hemisphere.
The syndication will include a bonus plan in which each share will entitle a second breeding every other season. Salman will retain a significant portion of the shares and will be sending many of his top mares to the horse, including millionaire Sharp Cat.
"As one would expect, there is tremendous interest in Point Given," Clay said. "Between the breeders who wish to purchase shares and the people who have expressed interest to The Thoroughbred Corp. in breeding to the horse, we know already that he will have an outstanding book of mares."
In addition to Sharp Cat (by Storm Cat), Mulhall listed Ahmed's millionaire Windsharp (by Lear Fan), grade II winner Saudi Poetry (by Storm Cat), and Drina, dam of Breeders' Cup (gr. I) winner Spain, as likely candidates for matings with Point Given. Spain was sired by Thunder Gulch.
Mulhall said the fact Point Given will not shuttle to the Southern Hemisphere was a factor in the decision to stand him at Three Chimneys. "Four parties were seriously interested," Mulhall said, though declining to name who they were. "Some of the other deals involved shuttling, and Prince Ahmed really didn't want to do that. He cares about his horses."
Salman handled many of the negotiations and signed the deal on Sunday while in Lexington for the Keeneland sale, Mulhall said. "He wanted to get it over and done with so that when he goes home (to Saudi Arabia) it's over. He is very busy with all of his other businesses. Since he is here for the sale, it was a good opportunity to close the deal. We're not sure exactly how many shares he's going to keep at the moment.
"Prince Ahmed has had other dealings with Robert Clay, including Dr Fong (who stands in England after originally being considered for Three Chimneys)," Mulhall said. "He is a really good man and Prince Ahmed gets along with him well. It's a beautiful farm, and they do a very good job with stallions, and in making stallions."
Point Given was retired due to a tendon strain in his left foreleg that cut short a brilliant racing career that had electrified the racing public. "Losing a horse like Point Given is like snatching Tiger Woods from the PGA tour," said his trainer, Bob Baffert.
Point Given (Thunder Gulch--Turko's Turn, by Turkoman) performed before record crowds at Pimlico, Monmouth, and Saratoga this year. He took the Preakness Stakes (gr. I) at Pimlico, and after a victory in the Belmont Stakes (gr. I), won the Haskell Invitational Handicap (gr. I) at Monmouth and the Travers Stakes (gr. I) at the Spa. He earlier took the Santa Anita Derby (gr. I) and San Felipe Stakes (gr. II), and his sole loss this year came in the Kentucky Derby (gr. I) over a track many thought not to his liking. Overall, he won nine of 13 career races and earned $3,968,500 in his two years of racing.
"When you look at the major, exciting horses that have retired in recent years, it has not been possible to acquire shares in some really top stallion prospects," said Dan Rosenberg, president and chief operating officer of Three Chimneys. "When you think of some of the other stallion prospects out there now, it's unlikely that shares will be offered in them, so this is a unique opportunity to have a share in a great racehorse and a great stallion prospect."
Point Given is expected to arrive at Three Chimneys in the next two weeks.
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