PP is asking how Derby finalist Captain Ravishing is owned by APG - does anyone know?
see Post 7 as to why this post and posts 2-6 have been moved from the NSW thread
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PP is asking how Derby finalist Captain Ravishing is owned by APG - does anyone know?
see Post 7 as to why this post and posts 2-6 have been moved from the NSW thread
I have reliable info that there have been cases where horses are sold at the sales but the purchaser has not settled. I think this is one of those cases
There has been Police and HRV action down at Terang this week
PP is saying that the biggest buyer at the Sydney APG Sale 2yrs ago never paid for the horses
How could APG make such a mistake, if indeed that is what happened - maybe we will see more horses going around in APG's name.
These horses would be 3yo's now and some are royally bred
https://www.apgold.com.au/sales/sale...1/sydney-2020/
I might have to think of a better thread for all of this (here because the APG owned horse seemed related/similar)
I have looked up Tim McLean's 10 purchases from the 2020 Sydney APG and none have even been named
This from the local paper:
This thread has been created retrospectively from posts originally in the NSW thread
You would think that there has to be an inquiry into APG. What with the $225k they appear to have worn from the A. Portelli purchases (one Sydney, two Melbourne), it appears we now have $576k of Tim McLean purchases (all from the 2020 Sydney sale). Whoever was handing out the credit had to have been sacked. I know that the A.Portelli vendors were paid (by APG?). If in total APG had to cover $801k - this is a big loss for the APG. It could be even more as there could be others and there were some Tim McLean small purchases at the Melbourne sale, like the Sydney purchases, none have been named/registered.
It is incredible to think that they have taken this long to act on the McLean horses. The value of these horses would have diminished substantially – if they don’t even race as 3yo’s their value would be miniscule. Mind you Captain Ravishing did get to race until the last month of his 2yo year, whether this was a maturity thing or the result of a long legal process - we deserve to know as APG is industry owned.
I knew of the McLean rumours last year but couldn't find him as a licensee on Harness Web and cannot find any report of a disqualification. He was not the only one to welch on payment though as Captain Ravishing was knocked down to another person who is a well known participant. Guess what? The same person was at the APG sale in Sydney on Sunday!
How where they registered as a bidder? Who offered or approved them credit? How does APG get away with claiming it is a "not for profit" company whe it is seen to be owner of the racehorse Captain Ravishing? Who is paid the vendor of Captain Ravishing for the horse? Who has been paying the horse's bills? How do these occurrences comply with the company's constitution and rules?
Plenty of questions for the company to explain to its shareholders, or what remains, ASIC, HRA, etc. NB: As for the bona fides of the horse's ownership the horse is now in the name of Hassan Taiba as owner. I cannot find a way of determining when the change of ownership occurred however I recall noticing the APG as its owner when browsing the form guide last Saturday week.
Perhaps more gold coins than lolly wrappers were found down the back of the couch. Faces saved.
I think it is one of those cases where you don't have to be disqualified to lose your license. I am thinking the Unpaid Forfeits list. Once upon a time you could find this list but I don't know where it is nowadays
http://www.harness.org.au/rules/UNPDFLST.HTM#list
291. The Controlling Body shall keep a list known as the "Unpaid Forfeit List".
295. (1) The provisions of this rule apply to or with reference to a person named in the list, or in the equivalent list of a recognised harness racing authority as someone owing arrears, fees, charges or other amounts.
(2) The person named in the list shall be subject to the same disabilities and penalties as are declared by Rule 259 to apply to persons who are disqualified.
Correct, but I can't find a list either. The HRA site lists all disqualified persons but no mention of a McLean. Harness Web lists only suspended drivers. I get the feeling the HRV site and the Integrity site do not wish to offend anybody. And it seems there is no way of tracking ownership changes. The results page for Melton on 14 January shows the horse (at its last win) was owned by APG. Click on the horse -owner H Taiba. Confused? Join the club.
One of Tim McLean's unpaid purchases ($100K), a close relative of Lazarus but now an unraced 3yo filly, is for sale by APG
https://www.harness.org.au/media-roo...?news_id=52955
All of this surfaces a week after David Boydell steps down from APG. I've yet to see any explanations as to how Tim McLean was able to book-up so many yearlings without a line of credit. I suppose this will be revealed in court. How he was allowed to bid is something APG would like to keep unknown to save face with vendors. If you were to join the dots you might only need a bloody big pencil - and two dots.
And here is another $130k default purchase of McLean's. The accompanying fairy tale is a bonus from APG as a sweetener, but only for cash buyers.
https://www.harness.org.au/media-roo...?news_id=52957
Here is a link to The Weight In Gold sale for the 14 lots
https://harnessbred.com/APG/2022/WIG/CATALOGUE/#page/21
Here it is with the prices that Tim McLean supposedly paid for them as yearlings at either Sydney or Melbourne.
I couldn't find the trotters (1&14)
Good work Kev. Unfortunately they are all three year olds now so they will only bring a fraction of their breeder's original expectations.
Yes, I cannot see the colts getting 30%, the fillies maybe although Betting Line does not help despite that annoying Empire ad (which covers up the digital tracking) telling us he is/was #1 2YO Sire
I'd love to know who writes the drivel in the media releases for this re-sale. I see a bright future for the person as a writer for Mills & Boon. Such romanticism; Libertybelle Midfrew's colt, "Michael", proclaimed as having "the potential to develop into a Grand Circuit performer" (has JB been moonlighting for APG?). No doubt being by the great Bettors Delight out of a top-performing daughter of Chritian Cullen he has the credentials on paper. In reality you could say the same for any foal.
Unfortunately the advertorial cunningly fails to mention whether the 3yo has even been broken in, just "well handled". Oh, and the colt is actually a rig. I fear "Michael" might just be known around the traps as Mickey One-Nut.
Dean Baring is listed as the Preparer
Nuff said.
A reader has told me he wrote to David Boydell asking, among other things, why as of March this year, the Financial Statements & Reports for Year Ended 30/6/2021 had not been lodged with Australian Securities & Investment Commission as is required by law.
The reader asks when will the Directors of Australian Pacing Gold Limited recognize the value in adopting a policy of transparency in regard to Financial Statements & Reports as this is a cornerstone of a respected and successful business
The reader finds it difficult to comprehend why industry participants have to pay a Government authority to obtain information as to how well APG Directors and Management perform their duties and deliver acceptable business
outcomes
"Acceptable business outcomes" - the core of this debacle. Who actually owns APG these days? I see Club Menangle's chairman Robert Marshall is stated on the Club's website as Chairman of APG. I see the registered office of APG changed from Queensland to Menangle Park in October 2020. The big question remains as to why it has taken over two years for the bs story of the unpaid purchases to sneek into the public domain. It appears no disclosure from the company has been made public, or any clue as to how the affected vendors were compensated for there losses.
The only certainties are the directors were asleep at the wheel to have allowed this to have occurred and to have dragged on for as long as it has. The ultimate damage the company suffers will be measured by the loss of trust and support from breeders and vendors.
I think this link is where you will be able to keep up with the 3 day duration Online Auction which commences at 2pm tomorrow/Wednesday
https://www.ardex.com.au/apgonlineau...ction=viewsale
So far one of the lots which was originally sold for only $16k (that is if they had paid up) has the highest bid at $6k
It will be like ebay and all the bids will come in the last half hour
Lot 4 now has a bid of $20k and there are 4 lots with bids over $10k
https://www.ardex.com.au/apgonlineau...ction=viewsale
My favourite Lot2, the Bettor's filly closely related to Lazarus is up to $32k
Lot 2 up to $40k now and Lot 9 has surpassed the sale price that fell through - amazing when he has missed his 2yo season and will be hard pushed to have any 3yo season
With 30mins to got in the 2days plus auction
Lot 1 trotter had a bid of $20k, he ended up going for $50k after several 5min extensions which were the rules of the auction
Here is the complete results
Red is what they 'supposedly' sold for the first time
Green is what they got in todays online auction
I am still not sure how the top priced colt got in this sale, he is actually already a 4yo that I cannot find in any APG catalogue (the other offering were 3yo's), he was bred by B. Dumnesy - a relie of John?
It seems APG, once seen as the goose that laid the golden egg, is now looking like it lays dodo eggs. It has announced there will be no Sydney or Melbourne yearling sales in 2023. It will hold sales in Brisbane and Perth but major vendors have made "purely business decisions" and have taken there business elsewhere.
Nutrien wins, I gather.
Here is the link
https://www.apgold.com.au/major-anno...re-2023-sales/
PP is stating that he expects APG to be placed in receivership this year :eek:
Going back to the very first post in this thread about Captain Ravishing racing for APG
Which was still the case at the time of the NSW Derby in March
How was he bought by current owner Hassan Taiba - was he advertised?
I don't mean to infer that you are Carol, I was just stating what appears obvious. Meanwhile, hot of the press, Nutrien now appears it wants to grind the bones of APG into dust:
CONTINUED GROWTH TO THE NORTH FOR NUTRIEN EQUINE
The Nutrien experience heads north in 2023 as we partner with the Albion Park Harness Racing Club to deliver the Sunshine Stars Yearling Sale.
Set to take place across the weekend of March 11 and 12, 2023 at the iconic Magic Millions sales complex, it will be an experience not to be missed. A weekend of organised social activities on the Gold Coast, mixed with sale horse inspections and the twilight live sale parade will all set the scene for an exciting start to the Sunshine Stars Yearling Sale on Sunday. This will ensure the buyers are in attendance to view the quality Queensland offering.
After a very successful 2021 sale for the standardbred industry held in Victoria, Nutrien Equine Standardbred grew to include a New South Wales sale alongside the Victorian event in 2022. “The growth into Queensland in 2023 is an exciting one for us” said Mark Barton from Nutrien Equine “particularly with this opportunity to partner with the standardbred industry in delivering the Sunshine Stars concept”.
Mark went on to say “Buyers who choose to sustain their purchase for the Nutrien Classic race series will automatically gain entry to the Sunshine Stars race series”. This new race series to be known as the Sunshine Stars and offering $500,000 in incentives, is an exciting reward for participants racing their 2YO and 3YO purchases from these sales.
Vendors will soon have the opportunity to nominate for the Sunshine Stars Yearling Sale, alongside the Nutrien Equine Sydney and Melbourne sales, all opening on July 26 this year. Simply visit the Nutrien Equine website and follow the links through to complete your nomination, which will be open until August 23, 2022.
https://www.harness.org.au/media-roo...?news_id=53349
It seems to find Advertised Content in HRA's Top Stories
The APG 200+ lot Mixed Sale began online today
Here is a link about it
https://www.apgold.com.au/the-time-h...-register-now/
I don't think this link to the online auction will work as I had to register and log in but I will post it with fingers crossed.
https://www.ardex.com.au/apgonlineau...ction=viewsale
I cannot see why it would need to be secretive - other than to garner contacts for interested people for future marketing
Sirletic is in the Claimer at Bendigo on Saturday night
He has a claiming price of $95,000
https://www.harness.org.au/racing/fi...22#BNM30072206
He is also in the Sale (Lot 82) He has no reserve on him so as it stands right now the current bid of $500 is going to buy him
See for yourself