Page 5 of 6

Re: Report: Zayat Sued for $23 Million, Sold Shares in American Pharoah

Posted: Fri Feb 14, 2020 10:34 pm
by Green Desert
This article presents some interesting views based on Kentucky law in regards to horses being sold with liens, etc.
https://www.thoroughbreddailynews.com/z ... rse-sales/

Re: Report: Zayat Sued for $23 Million, Sold Shares in American Pharoah

Posted: Fri Feb 14, 2020 11:26 pm
by ThreeMustangs
Defendant Added to Zayat Suit Files to Dismiss Claims

https://www.bloodhorse.com/horse-racing ... iss-claims

“The motion filed by Thomas Clark Bloodstock states Rigney executed a contract with Lane's End to breed the mare to the farm's stallion Quality Road , who stands for $200,000, believing it owned clear title to Lemoona. Rigney is expected to send the mare to Lane's End soon to be bred, according to the motion, and it would be "severely prejudiced if it commits to the payment of the stallion service fee for the Quality Road breeding to Lemoona, if it is determined it does not own the horse."”

I can’t imagine Lane’s End is thrilled to have any involvement in this. Or do they not care as long as the stud fee is paid?

Re: Report: Zayat Sued for $23 Million, Sold Shares in American Pharoah

Posted: Sat Feb 15, 2020 10:50 am
by Mylute
Apparently American Cleopatra is one of the MGG horses as well.

Imagine buying a broodmare prospect at the sales and being excited to send her to a top stallion and then getting hit with "uhh that's not a legitimate buy give her back."

Re: Report: Zayat Sued for $23 Million, Sold Shares in American Pharoah

Posted: Sat Feb 15, 2020 11:25 am
by Mylute
Also, if I recall, one of the articles about this said MGG wants the stallions, i.e. Solomini and El Kabeir, back.

So...what does Yeomanstown Stud do with EK? He's been at stud for two (three?) years now.

Re: Report: Zayat Sued for $23 Million, Sold Shares in American Pharoah

Posted: Sat Feb 15, 2020 12:02 pm
by Flanders
Mylute wrote:
Sat Feb 15, 2020 11:25 am
Also, if I recall, one of the articles about this said MGG wants the stallions, i.e. Solomini and El Kabeir, back.

So...what does Yeomanstown Stud do with EK? He's been at stud for two (three?) years now.
The article Green Desert posted listing Kentucky and Federal exceptions to laws concerning horses and farm products may help the buyers. However I think most of them were private sales so they would fall under the Federal provisions. Everything is going to go through court, its going to be a long process.

Re: Report: Zayat Sued for $23 Million, Sold Shares in American Pharoah

Posted: Sat Feb 15, 2020 3:08 pm
by Honeymoon
I saw on twitter that Bodemeister hasn’t arrive in Turkey yet. Is he also involved in all this mess? They said there are quarantine issues. Just wondering what’s going to happen with him.

Re: Report: Zayat Sued for $23 Million, Sold Shares in American Pharoah

Posted: Sat Feb 15, 2020 3:10 pm
by Flanders
Honeymoon wrote:
Sat Feb 15, 2020 3:08 pm
I saw on twitter that Bodemeister hasn’t arrive in Turkey yet. Is he also involved in all this mess? They said there are quarantine issues. Just wondering what’s going to happen with him.
Yes his name appeared on the list.

Re: Report: Zayat Sued for $23 Million, Sold Shares in American Pharoah

Posted: Sat Feb 15, 2020 3:11 pm
by Mylute
Ashford Stud Responds to Amended Suit Filed by MGG
https://www.bloodhorse.com/horse-racing ... led-by-mgg

If this soup get's any thicker it'll be a chowder or stew.

Re: Report: Zayat Sued for $23 Million, Sold Shares in American Pharoah

Posted: Sat Feb 15, 2020 3:22 pm
by Honeymoon
Flanders wrote:
Sat Feb 15, 2020 3:10 pm
Honeymoon wrote:
Sat Feb 15, 2020 3:08 pm
I saw on twitter that Bodemeister hasn’t arrive in Turkey yet. Is he also involved in all this mess? They said there are quarantine issues. Just wondering what’s going to happen with him.
Yes his name appeared on the list.
And what will happen now to him? I’m just reading through all the articles and try to understand this mess.

Re: Report: Zayat Sued for $23 Million, Sold Shares in American Pharoah

Posted: Sat Feb 15, 2020 3:48 pm
by stark
Genie grants y'all just one wish......

How do you want to see this thriller end?

Re: Report: Zayat Sued for $23 Million, Sold Shares in American Pharoah

Posted: Sat Feb 15, 2020 5:54 pm
by Miss Woodford
Honeymoon wrote:
Sat Feb 15, 2020 3:22 pm
Flanders wrote:
Sat Feb 15, 2020 3:10 pm
Honeymoon wrote:
Sat Feb 15, 2020 3:08 pm
I saw on twitter that Bodemeister hasn’t arrive in Turkey yet. Is he also involved in all this mess? They said there are quarantine issues. Just wondering what’s going to happen with him.
Yes his name appeared on the list.
And what will happen now to him? I’m just reading through all the articles and try to understand this mess.
Well, there are a lot of angry Turkish mare owners to answer to. The TJK wanted him to be their new star stallion to take the mantle of Victory Gallop and Lion Heart and put his stud fee as such. I can't remember who his new owner (or "owner"?) is but he was to stand at the equivalent of their national stud so the Turkish Ministry of Agriculture and Forestry is probably none too pleased with this situation.

I'm guessing they'd renegotiate a sale contract with the money going to the receivership, but I'm no lawyer.

Re: Report: Zayat Sued for $23 Million, Sold Shares in American Pharoah

Posted: Sat Feb 15, 2020 6:07 pm
by Flanders
Miss Woodford wrote:
Sat Feb 15, 2020 5:54 pm
Honeymoon wrote:
Sat Feb 15, 2020 3:22 pm
Flanders wrote:
Sat Feb 15, 2020 3:10 pm

Yes his name appeared on the list.
And what will happen now to him? I’m just reading through all the articles and try to understand this mess.
Well, there are a lot of angry Turkish mare owners to answer to. The TJK wanted him to be their new star stallion to take the mantle of Victory Gallop and Lion Heart and put his stud fee as such. I can't remember who his new owner (or "owner"?) is but he was to stand at the equivalent of their national stud so the Turkish Ministry of Agriculture and Forestry is probably none too pleased with this situation.

I'm guessing they'd renegotiate a sale contract with the money going to the receivership, but I'm no lawyer.
The TJK would have bought him, so technically he is owned by the Turkish government. Is Lion Heart a ridgling? I think it was him that the Turkish parliament scheduled a meeting simply to talk about the purchase of him and if spending money on a ridgling was a good decision or not.

Re: Report: Zayat Sued for $23 Million, Sold Shares in American Pharoah

Posted: Sat Feb 15, 2020 6:08 pm
by Flanders
stark wrote:
Sat Feb 15, 2020 3:48 pm
Genie grants y'all just one wish......

How do you want to see this thriller end?
For the least amount of people to get screwed over and Zayat be banned from the sport. But I guess that would be 2 wishes.

Re: Report: Zayat Sued for $23 Million, Sold Shares in American Pharoah

Posted: Sat Feb 15, 2020 6:32 pm
by Mylute
Wonder how this is all going to affect the breeding season for El Kabeir, Solomini, etc.

The way I understand it, MGG is going to want any money the stallions' current owners/shareholders make from said stallion. Most of the money would come from stud fees paid when a live foal is born.

Re: Report: Zayat Sued for $23 Million, Sold Shares in American Pharoah

Posted: Sat Feb 15, 2020 6:36 pm
by Flanders
Mylute wrote:
Sat Feb 15, 2020 6:32 pm
Wonder how this is all going to affect the breeding season for El Kabeir, Solomini, etc.

The way I understand it, MGG is going to want any money the stallions' current owners/shareholders make from said stallion. Most of the money would come from stud fees paid when a live foal is born.
It would be up to the farms how they want to handle this breeding season but they own the stallions until a judge makes a decision.

Re: Report: Zayat Sued for $23 Million, Sold Shares in American Pharoah

Posted: Sat Feb 15, 2020 8:53 pm
by Kurenai
stark wrote:
Sat Feb 15, 2020 3:48 pm
Genie grants y'all just one wish......

How do you want to see this thriller end?
One wish: give me 3 more wishes.

3 wishes:
I want that people get their money.
I want no second (ahem third actually) chances for Zayat.
I want a horse like American Pharoah, I'm sure I would do better with the money I would get. :lol:

Re: Report: Zayat Sued for $23 Million, Sold Shares in American Pharoah

Posted: Sun Feb 16, 2020 4:27 pm
by Green Desert
I'd like to see the "littlest" people get paid first-those whom his outstanding bills could be make or break for them such as feed suppliers, trainers, vets, etc. THEN let the largest companies battle it out in court. They have the funding/ backing behind them to afford the protracted court battle ahead.
Racing is in the battle for its life right now so I'd hate to see people like the Zayats, who obviously have a passion for the sport as well as a good eye, be banned from it but this is the second time around for them with financial issues. Wishful thinking: A monitor be assigned to their business interests to ensure that their bills are paid before they are allowed to entrench themselves so deeply like this again. (I'm aware that isn't legal, or even that they might not listen to anyone that they hired themselves to enforce such regulations.)

Re: Report: Zayat Sued for $23 Million, Sold Shares in American Pharoah

Posted: Sun Feb 16, 2020 4:42 pm
by stark
Thanks to the LA TImes John Cherwa, I've been in the habit of reading the Stewards Minutes, with particular emphasis on their legal decisions that are printed on Mondays. Without fail it seems like an owner or trainer has fallen behind in their payments, sometimes to a feed company, sometimes to a vet, all over the place and usually in the amounts of $1,000 to $10,000. Licenses generally get suspended in California until such time that the financial obligations are met.

For the life of me, I don't recall seeing Mr. Zayat on the stewards list for any track across America.

Any explanations?
Thanks.

Re: Report: Zayat Sued for $23 Million, Sold Shares in American Pharoah

Posted: Sun Feb 16, 2020 8:19 pm
by Flanders
stark wrote:
Sun Feb 16, 2020 4:42 pm
Thanks to the LA TImes John Cherwa, I've been in the habit of reading the Stewards Minutes, with particular emphasis on their legal decisions that are printed on Mondays. Without fail it seems like an owner or trainer has fallen behind in their payments, sometimes to a feed company, sometimes to a vet, all over the place and usually in the amounts of $1,000 to $10,000. Licenses generally get suspended in California until such time that the financial obligations are met.

For the life of me, I don't recall seeing Mr. Zayat on the stewards list for any track across America.

Any explanations?
Thanks.
Trainers not saying anything and hoping that they get paid. The one trainer said that with certain owners you just don't say anything. Why the hell they would work for free is beyond me. I guess they hope they are the ones who gets to train the next American Pharoah.

Re: Report: Zayat Sued for $23 Million, Sold Shares in American Pharoah

Posted: Tue Feb 18, 2020 7:49 pm
by MySaladDays
Green Desert wrote:
Sun Feb 16, 2020 4:27 pm
I'd like to see the "littlest" people get paid first-those whom his outstanding bills could be make or break for them such as feed suppliers, trainers, vets, etc.
It would also be nice if some of the trainers paid their hard working employees on the backside their due, but as we have seen with some of them, that isn't happening in some big barns either.