TORONTO -- Ralph Hanover, only the fourth harness horse ever to earn $1 million in a single season of racing, was syndicated Wednesday for $7 million.
The syndication includes 48 shares, each worth almost $146,000, but does not feature any of the bonus clauses for outstanding performances common to many syndications in the sport.
The announcement of the syndication came at Greenwood Raceway, site of Ralph Hanover's victory July 25 in the $390,000 Queen City Pace, Canada's richest harness race.
P.J. 'Jack' Baugh, master of Almahurst Stud Farm in Nicholasville, Ky., is the new owner. He purchased 25 percent of Ralph Hanover, effective immediately, for $1.75 million, thus making the horse's overall value $7 million.
The original owners, Weaples Stable Inc. (Ron Weaples, the colt's driver, and his wife Josephine) of Rockland, Ont., the Pointsetta Stables of St. Thomas, Ont., (Stew Firlotte, Ralph Hanover's trainer, plus Dale Baker and Dave Henderson) and the Grants Direct Stable of Mississauga, Ont., (Norm Keyes and Richard Dinner) paid $58,000 for the son of Meadow Skipper as a yearling, so realized a 30-fold return on their investment and still retain 25 percent each of the colt's ownership.
Firlotte said five farms had made serious offers on Ralph Hanover, with Baugh's the best.