IEAH still whining, threatening to go to Haskell

[ELA]

For those interested in the stallion aspect of this deal -- nobody paid or got $50m. The farm "bought" the breeding rights, as a % of the ownership, based upon $50m.

According to people in the industry, principals, there was not strong indications of interest for shares in this horse. Many who might have been interested wanted to wait and see how the "rest of the story played out" so to speak.

Just look at the economics -- the stud fee, which drives the share price; the # of mares he would have to breed and (what most tend to forget about) the # of mares in foal, the # of live foals (all formulaic for the syndication), and so on. Now, those #'s just fell apart. For it to be feasible, he has to come back and make the Belmont a "draw a line through it" race.

Eric