basis that Ferguson benefited financially from one of the
horse's stud nomination each year, which would be worth
around £80,000.
‘Contrary to reports, there has been no settlement and there
was no meeting of lawyers last Wednesday, but Magnier is
standing by the offer he made to Ferguson in August 2001 and
which he claims Ferguson accepted.
‘On August 17, 2001, a call from Coolmore, Magnier's Irish
racing headquarters, informed Ferguson that 'the Rock' was
going to run in his colours in the Gimcrack and that Magnier
was offering him either five per cent of the prize money he
gained in his racing career, or one nomination for when he
retired and went to stud. Ferguson allegedly rang back to
accept one nomination. There was no paperwork on ownership
and no money changed hands.
‘Ferguson was registered as the 50 per cent owner. In racing
terms, one nomination is regarded as a substantial bonus,
and both O'Brien and the jockey Michael Kinane have one
nomination on Rock of Gibraltar.
‘The Rock's victory in the Gimcrack and his astonishing
record as a three-year-old meant Ferguson was now seen as
something of a racing guru, although his frequent public
pronouncements on the subject were watched with some
bemusement at Coolmore.
‘Last summer Magnier did offer a settlement of allowing
Ferguson two nominations but Ferguson rejected it and is
believed to have said he would accept 15-20 per cent of the
stud value. Magnier has since withdrawn the two-nomination
offer.’