July 10, 2012 in Sports

The price was right for Reddam

 

The owner of I’ll Have Another says he sold his Kentucky Derby and Preakness winner to a farm in Japan for $10 million, a price that far exceeded any amount he was offered in the United States. J. Paul Reddam made his comments in a blog appearing on the bloodhorse.com website. He writes there were two offers from U.S. breeding operations, one valued at just under $5 million, the other at $3 million. “Certainly greed has something to do with it,” he wrote, adding that the “one offer was four times higher in cash than the best offer here,” and “I couldn’t rationalize not selling him overseas.” Reddam also notes that the rights of Derby and Preakness runner-up Bodemeister “recently purportedly sold for about $13 million in America.” – AP


Thoughts and opinions on this story? Click here to comment >>

Get stories like this in a free daily email