June 8, 2012; Elmont, NY, USA; I'll Have Another grazes in the grass during a press conference to announce that I'll Have Another will not race in the Belmont Stakes at Belmont Park. Mandatory Credit: Anthony Gruppuso-US PRESSWIRE
I'll Have Another is headed overseas after being sold to a Japanese stable for $10 million.
I'll Have Another, the horse that came from behind to win the 2012 Kentucky Derby and Preakness Stakes before being scratched a day before attempting to win the 2012 Belmont Stakes for the Triple Crown, has been sold for $10 million to a Japanese group, reports BloodHorse.com.
I'll Have Another's previous owner, J. Paul Reddam, explained the decisions to retire I'll Have Another and ultimately sell him in a 1,500-word blog post at BloodHorse:
There might have been a lot of talk behind the scenes, but there were only two written offers from American farms, one for 3 million dollars and the other for 2.5 million for half of the rights plus 9 lifetime breeding rights, which puts his value at a little less than 5 million. By contrast the offer from Big Red in Japan was 10 million, with another farm bidding just under that.
Reddam also cited the likelihood of I'll Have Another being bred to better horses with the Japanese stable as a reason for the sale.
For more on the wonderful world of horse racing, head to And Down The Stretch They Come.