Gerry Harvey, Australian entrepreneur and chairman of Australian homewares and electrical retailer Harvey Norman, has offered former bookie Ray Gall an impressive $30 million for his 50% share in prized stallion I Am Invincible.
Harvey, who is considered to be one of the most prominent thoroughbred breeders globally, already has over 600 horses within his stables but I Am Invincible would be an impressive addition.
Gall, who rejected the offer, bought the stallion in 2006 for only $67,000 and he went on to win four races from nine starts before retiring with winnings of $270,050.
Harvey settled for breeding rights, allowing him one prized foal per year – still a desirable outcome as it is in the breeding barn that I Am Invincible has really earned his stripes.
This season alone he sired 93 winners from 177 starters – a ratio attained by no other horse in Australia.
“Just about all of his progeny have made the racetrack and they are not just speedsters — he’s thrown horses that can run a mile,” Gall told The Australian.
The star stallion’s 2011 service fee of $10,000 has increased to $55,000 – a rate that could see six figures by the next breeding season.
The stallion’s offspring have won $7.2million on the tracks, including well-known names Brazen Beau, Illustrious Lad and I Am a Star.
I Am Invincible is considered cargo so precious that northern hemisphere brood mares must fly to him in New South Wales.
“We decided not to shuttle him…. He’s been very good to us so we look after him,’’ Gall further told the Australian.
Australian racing industry booming
The Australian racing industry is in its peak sale season, with the Inglis Premier Sales and Inglis Easter Sales just gone, and the Magic Millions upcoming.
A decreased Australian dollar has powered sturdier international buying this year, with analysts forecasting that nearly half of the Easter lot will be purchased by foreign buyers.
Inglis managing director Mark Webster told the Australian that increased figures being offered by buyers echoed additional confidence in the state’s racing industry.
“The breeding industry in Australia is going very well right now,” he said.
“When we look at confidence in the industry, the economy is a big part of it.”
“Interest rates around the world are low, we have a strong sharemarket right now and there is relative stability in the global economy, which is positive.”
“The capital is coming in from overseas because there’s a 25 per cent advantage for those buyers because of the current exchange rate. That’s encouraging the international interest in the industry,” he said.
Hong Kong’s Aquis Farm and the US’s Spendthrift Farm – both major international breeding enterprises – have both inaugurated Australian farms in recent years.
The Magic Millions, one of Australia’s largest and most prestigious thoroughbred auctions, commences this weekend.
Hazelwood Stables are offering six, one acre paddocks and one, 20 acre paddock with hills for any horses purchased at the Magic Millions Weanling Sales this weekend.
Be quick to reserve a paddock or position for horses on an early bird deal, get in touch with Beau Skerrett to find out more.
Beau Skerrett 0477 773 267 or bskerrett@hazelwoodgroup.com.au