Schumer to Broker Sale of Interest in Curlin
Apr 12, 2015 23:15:42 GMT -5
Post by Jon on Apr 12, 2015 23:15:42 GMT -5
Anyone interested?!
Schumer to Broker Sale of Interest in Curlin
By Myra Lewyn
Bloodhorse
Schumer Bloodstock, in conjunction with M2 Transport, will handle the sale of a 20% interest in Central Kentucky sire Curlin .
Chad Schumer's agency and the air freight, charter, and equine transportation company, which issued a joint press release, were recently awarded the contract by the U.S. Justice Department, U.S. Marshals Service, Asset Forfeiture Division. Schumer and M2 Transport have the exclusive listing rights to solicit offers for the purchase of an undivided interest in the 11-year-old son of recently deceased sire Smart Strike ,
The interest in Curlin, who stands for a 2015 fee of $35,000 at Lane's End in Versailles, Ky., will be sold alongside four annual breeding rights. Stonestreet Stables owns the other 80% in Curlin and has the right of first refusal.
Schumer did not immediately respond to a request for comment.
The U.S. Marshals Service administers the Justice Department's asset forfeiture program and requested quotes to broker the sale of the 20% interest, which was now-defunct Midnight Cry Stables' share in the horse. Midnight Cry was the racing entity of disbarred attorneys Shirley Cunningham Jr. and William Gallion, both currently in prison for bilking clients out of $94.6 million from a $200 million diet-drug settlement. Many of their assets were seized to settle part of the $127.6 million in restitution they must pay their former clients.
The contract to sell the interest in Curlin was awarded March 9, and award amount was $78,000, according to Justice Department documents.
Cunningham and Gallion purchased Curlin for their Midnight Cry Stables via Eaton Sales for $57,000 at the 2005 Keeneland September yearling sale. They sold an 80% stake in the horse in February of 2007 for $3.5 million to a group led by the late Jess Jackson of Stonestreet Stables.
Curlin retired to stud in 2009 as the highest North American money earner of all time with just more than $10.5 million banked over two seasons. He won 11 of 16 starts, including the Preakness Stakes (gr. I), Breeders' Cup Classic (gr. I), Dubai World Cup (gr. I), Jockey Club Gold Cup (gr. I, twice), Stephen Foster Handicap (gr. I), and Woodward Stakes (gr. I).
Curlin ended 2014 as a top ten general active North American sire and the leading third-crop
sire.
Curlin was crowned Horse of the Year in 2007 and 2008 and was inducted into the Hall of Fame in 2014.
Schumer to Broker Sale of Interest in Curlin
By Myra Lewyn
Bloodhorse
Schumer Bloodstock, in conjunction with M2 Transport, will handle the sale of a 20% interest in Central Kentucky sire Curlin .
Chad Schumer's agency and the air freight, charter, and equine transportation company, which issued a joint press release, were recently awarded the contract by the U.S. Justice Department, U.S. Marshals Service, Asset Forfeiture Division. Schumer and M2 Transport have the exclusive listing rights to solicit offers for the purchase of an undivided interest in the 11-year-old son of recently deceased sire Smart Strike ,
The interest in Curlin, who stands for a 2015 fee of $35,000 at Lane's End in Versailles, Ky., will be sold alongside four annual breeding rights. Stonestreet Stables owns the other 80% in Curlin and has the right of first refusal.
Schumer did not immediately respond to a request for comment.
The U.S. Marshals Service administers the Justice Department's asset forfeiture program and requested quotes to broker the sale of the 20% interest, which was now-defunct Midnight Cry Stables' share in the horse. Midnight Cry was the racing entity of disbarred attorneys Shirley Cunningham Jr. and William Gallion, both currently in prison for bilking clients out of $94.6 million from a $200 million diet-drug settlement. Many of their assets were seized to settle part of the $127.6 million in restitution they must pay their former clients.
The contract to sell the interest in Curlin was awarded March 9, and award amount was $78,000, according to Justice Department documents.
Cunningham and Gallion purchased Curlin for their Midnight Cry Stables via Eaton Sales for $57,000 at the 2005 Keeneland September yearling sale. They sold an 80% stake in the horse in February of 2007 for $3.5 million to a group led by the late Jess Jackson of Stonestreet Stables.
Curlin retired to stud in 2009 as the highest North American money earner of all time with just more than $10.5 million banked over two seasons. He won 11 of 16 starts, including the Preakness Stakes (gr. I), Breeders' Cup Classic (gr. I), Dubai World Cup (gr. I), Jockey Club Gold Cup (gr. I, twice), Stephen Foster Handicap (gr. I), and Woodward Stakes (gr. I).
Curlin ended 2014 as a top ten general active North American sire and the leading third-crop
sire.
Curlin was crowned Horse of the Year in 2007 and 2008 and was inducted into the Hall of Fame in 2014.