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Originally Posted by Merlinsky
Didn't that involve Penny Chenery's dad and the family's financial situation though? If you're trying to save the farm, it's a bit more forgivable.
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Yes, Christopher Chenery had died and the family needed cash to pay the estate taxes; Secretariat was the most valuable of the farm's assets, so his syndication was a matter of necessity. Like the sale of Sunday Silence to Japan - nobody in Kentucky wanted to buy shares in him for stud and after the late 1980s bloodstock crash, Arthur Hancock needed cash to save the farm (Stone farm). The Japanese offered him the big bucks and off my favorite boy went.