Coolmore Stud’s joint-venture with the China Horse Club continued at last week’s Inglis Easter Yearling Sale with the purchase of two millionaire colts by Fastnet Rock.
The colts – worth a combined $3.90 million – are part of the ongoing collaboration between Coolmore and its partners in China.
Last year, Coolmore Stud was invited to partner with the Chinese Government owned Tianjin State Farms and China Horse Club affiliate Desert Star Holdings to establish a breeding operation for the Tianjin Equine Culture City project.
Tianjin Equine Culture City (TECC) marks the first Chinese Government involvement with an overseas joint venture in horse racing and breeding. The facility will open later this year with the inaugural running of the Tianjin National Cup worth RMB 1 million (AUD 154,590).
The Tianjin Equine Culture City will comprise 4,000 horse stalls; State-of-the-art Horse Clinic; 150 trainers’ offices; Training tracks; International standard racecourse; Grandstand and Clubhouse; International Equestrian College and Horse auction house.
A world class breeding facility will be located outside Tianjin Equine Culture City and will be a vital supply chain to China’s thoroughbred industry.
Coolmore’s involvement in the project includes the initial establishment of a Stud Farm, stocked with broodmares which will be sourced in Ireland. The beginning of the breeding programme, which has commenced, will involve the agreement to import over 100 mares over three years.
The project will also involve the acquisition of stallions over the period. While Coolmore was invited as the initial joint venture partner, there will be huge opportunities for many other companies and individuals to participate in the project as it develops.
The partnership is moving ahead on schedule, with the first group of horses due to travel to China later this year.
Speaking at the Inglis Easter Yearling Sales, Coolmore Stud’s Tom Magnier said the joint venture is great news for the world horse racing and breeding industries. “It opens up a huge new market internationally,” he explained. “We are very excited by the continued growth of this relationship.”