Jimmy, half-brother of champion racehorse Black Caviar, was put down by vets yesterday due to a lingering hoof disease that caused constant pain.
Mark Webster, CEO of Iglis Bloodstock, announced the news on his blog at 2pm on Sunday, saying “Jimmy was euthanized on humane grounds at the Melbourne University Veterinary Hospital in Werribee Victoria”.
The horse had laminitis, a debilitating and painful hoof condition.
“It is believed the laminitis developed after suffering an adverse reaction to antibiotics, which were being used to treat his swollen leg when admitted to the Hospital in early November,” Mr Webster wrote on his blog.
Jimmy was being treated for a suspected spider bite.
“As the younger sibling to Champions Black Caviar and All Too Hard, we all had great expectations for Jimmy on the track and in the breeding barn. This is a very sad outcome for all involved,” Mr Webster wrote.
The two-year-old colt set the record $5 million price at the 2013 Inglis Easter Yearling sale, but the winning bidder BC3 Thoroughbreds, failed to pay Inglis for the horse and the company is now under voluntary administration, while its former chairman, Melbourne racing identity Bill Vlahos, filed for bankruptcy two weeks ago after a betting club he ran collapsed, owing investors nearly $200 million.
The details only emerged after Jimmy fell ill. Subsequently, Mr Vlahos was allegedly bashed and a had a vehicle on his property, near Geelong, set on fire. Details of Mr Vlahos’ activities have sent shockwaves through the racing industry.
It now emerges that Jimmy was insured for $5 million by Inglis, which will receive the payout, with Melbourne’s Herald Sun reporting that The Herald Sun reporting that investors in BC3 who thought they were part of a syndicate owning Jimmy, may have been duped, including $70,000 one investor contributed towards the insurance on the horse.
A legal battle with Inglis may ensue, with the Herald Sun, quoting one syndicate member, Graeme Wood, as saying those who invested “are morally entitled to our share of the insurance payout.”
On Dec 17, Inglis CEO Mark Webster took to his blog to reveal that his company held security over Jimmy: “I don’t normally discuss client terms, but for the record BC3 was given 30 day terms in relation to the purchase of Jimmy, which they did not comply with despite our warnings and attempts to recover payment,” he wrote.
Business Insider Emails & Alerts
Site highlights each day to your inbox.