Troubled Phoenix Thoroughbreds to quit horse racing in the UK just a year after enjoying Royal Ascot glory
- Big-spending organisation has announced it is to quit racing in the UK
- Eleven trainers in Britain are affected, including John Quinn and Karl Burke
- The Dubai-based company has denied allegations of money laundering
Troubled American organisation Phoenix Thoroughbreds have ceased their interest in UK racing.
The Dubai-based operation, which enjoyed Royal Ascot success with Signora Cabello and Advertise, was launched in 2017 as the ‘world’s first regulated thoroughbred fund’ and will continue to race in other countries.
Eleven trainers in Britain are affected, including John Quinn, Karl Burke and Peter Chapple-Hyam.
Phoenix Thoroughbreds’ highest profile horse Advertise was a winner at Royal Ascot this year
Founder Amer Abdulaziz Salman, who denied an allegation in a New York court last year that he was a key money launderer for fake cryptocurrency OneCoin, said: ‘It is with a heavy heart that Phoenix Thoroughbreds will no longer have our racing operations in the UK.
‘We have very much enjoyed working with our excellent partners and seeing our colours race at Ascot, Newmarket and further afield has been a dream come true for myself and everyone at Phoenix Thoroughbreds.
‘We have invested large amounts into the industry in the UK, helping to employ hundreds of staff both directly and indirectly. This has not been a decision we have taken lightly.
‘However, for the growth and wellbeing of our business and our partners internationally, we have taken the decision to leave the UK for the foreseeable future.
‘It saddens me greatly to have to do this but at this juncture we believe it is necessary.’
Meanwhile, Hamish, ante-post favourite for the Sky Bet Ebor, will miss the York feature and the rest of the season after suffering a setback.