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Originally Posted by VOL JACK
I don't know which of the two I'm more surprised.
Zayat has to take out loans to buy horses??
Or there is a bank out there dumb enough to loan someone $34,000,000 to purchase race horses.  |
The racehorse loan industry was probably one of the hardest hit industries from the recession. Pure speculation but Zayat probably used assets as collateral instead of tying up a bunch of cash. It is pretty common.