Five per cent share in Ole Kirk sells for $2 million
Embattled A List Stud owner Chris Lee has sold a five per cent share in dual Group 1-winning Vinery Stud-based stallion Ole Kirk (Written Tycoon) for $2 million, a figure potentially valuing the young sire at $40 million.
Vinery Stud general manager Peter Orton confirmed to ANZ Bloodstock News on Wednesday that the transaction had taken place between Lee and a fellow Hong Kong thoroughbred investor who had not previously been associated with Ole Kirk.
A List Stud owned five shares in the 100-share syndicate involving the Golden Rose (Gr 1, 1400m) and Caulfield Guineas (Gr 1, 1600m) winner Ole Kirk whose first crop two-year-olds are set to hit the track next season.
Last month, Vinery notified Ole Kirk’s fellow shareholders of A List Stud’s decision to accept a $2 million offer for the five one per cent shares. Each share entitles the owner to an annual nomination to the stallion and to income and rights for the 2024 season and beyond.
Shareholders had the right to match that offer to increase their equity in the horse, but no offer was forthcoming, paving the way for the Hong Kong owner to join the Ole Kirk syndicate.
Ole Kirk’s yearlings sold up to $1 million in 2024 with 18 lots making $200,000 or more throughout the Australian yearling sales season.
“Ole Kirk will be in his fourth year [at stud in 2024] and usually people hang off a little bit until they hear a bit, but we’re hearing plenty,” said Orton, who also played down the $40 million valuation of Vinery’s exciting prospect.
“The reports we are getting on his yearlings are outstanding – and I know we’re supposed to say that – but we keep hearing that.
“Every one of them that we are involved with is very good and you only have to talk to different farms and different stables who are raving about them. We couldn’t be happier.”
Previously, Lee bought Laceby Lodge at Baddaginnie in North East Victoria from Mick Gibson to signal his entrance into the Australian thoroughbred scene in a big way. He also leased properties in the Hunter Valley to expand his breeding portfolio and consign yearlings under the A List banner.
He also operated a racing stable at the Gold Coast, firstly with Allan Chau as A List’s private trainer. Paula Barron has trained Lee’s horses at the Gold Coast in more recent times.
In a sign of A List Stud’s financial issues, Magic Millions conducted an unreserved reduction sale at its National sale on the Gold Coast in May where 22 mares were sold. A List also sold 19 weanlings unreserved through the National Weanling Sale and a further four yearlings through the National Yearling Sale.
Lee has also sold horses to Hong Kong owners in the past. The Chau-trained and A List-owned Smart City (Lonhro), who won two of his eight starts in Australia, is now trained in Hong Kong by Ricky Yiu for Howard Tang.
Ole Kirk, who was bred by Gilgai Farm’s Rick Jamieson, is out of the unraced Naturale (Bel Esprit), herself sister to the unbeaten champion Black Caviar and a half-sister to Vinery Stud stallion All Too Hard (Casino Prince). Ole Kirk is also a half-brother to the Group 3 winner Gimmie Par (Not A Single Doubt).
The rising seven-year-old was bought by Mark Player’s International Thoroughbred Solutions on behalf of a syndicate headed by Neil Werrett for $675,000 at the 2019 Inglis Melbourne Premier Yearling Sale and trained by Michael, Wayne and John Hawkes to win three races, headed by his 2020 Golden Rose and Caulfield Guineas victories.
Vinery Stud came out on top to secure Ole Kirk after strong competition from NSW and Victorian farms for his services after his Caulfield Guineas triumph.