Phoenix Thoroughbreds Will Cease Racing In UK ‘For The Foreseeable Future’

Phoenix Thoroughbreds released a statement Tuesday announcing that the ownership group will cease racing operations in the United Kingdom immediately, according to the Racing Post. The group has racehorses with 11 different trainers in Britain.

“This has not been a decision we have taken lightly,” said Phoenix’s founder Amer Abdulaziz Salman. “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. We would like to thank everyone who has helped us achieve our dreams so far.”

Abdulaziz was alleged in a New York court to be a money launderer for fake cryptocurrency OneCoin last year, and he has consistently declined to identify any investors in the Luxembourg-registered equine fund.

Prominent racing figures to have distanced themselves from Phoenix include: Hall of Fame trainer Bob Baffert, trainer Martyn Meade, bloodstock advisor Dermot Farrington, and former vice-president and head of equine investments Tom Ludt.

Also on Tuesday, the Racing Post published a list of questions Phoenix has refused to answer, including queries about the money laundering allegations and the Luxembourg fund. Phoenix responded with a categorical denial of all the allegations against it, insisting they would “vigorously contest all allegations of wrongdoing.”

The post Phoenix Thoroughbreds Will Cease Racing In UK ‘For The Foreseeable Future’ appeared first on Horse Racing News | Paulick Report.

DYFD Winter - 300x90

Comments are closed.