Sale Puts Pillar Case To Bed
The Age
Saturday November 3, 2007
HORSE auctioneer Peter Heagney has banged down his trusty gavel many thousands of times over 35 years to help sell thoroughbreds, but yesterday it came down just once. Nonetheless, it was a history-making moment in horse racing.
"I have one million, 800 thousand for the final time. Going once, going twice, sold." With those words, Pillar Of Hercules, the horse at the centre of an ownership wrangle that Victorian police claimed involved alleged drug dealer Horty Mokbel, was sold and is once again free to race.It had been 10 days since the colt's trainer Peter Moody had been informed by police that they believed Mokbel was involved in the ownership of the horse. Moody was told he had been taped communicating with Mokbel and on that evening was also quizzed by Racing Victoria Ltd stewards over his links with the older brother of one of Australia's most notorious criminals.But yesterday morning at Caulfield racecourse, where Pillar Of Hercules resides, the horse was led back to Moody's stables to rest up for today's Mackinnon Stakes at Flemington, where more than 100,000 people are expected to attend for the greatest day of racing on the calendar. Moody and his wife, Sarah, could understandably be pleased with yesterday's unique proceedings. For Moody himself, it was announced he would continue as the trainer of the colt. "I am pleased. I think he's a hell of a horse," he said. Sarah Moody had parted with about $120,000 originally for a 25 per cent stake in the colt as a yearling in Sydney last autumn, but yesterday gained $450,000 for that share when Heagney's gavel came down. Moments later, it was announced that she had bought back 10 per cent of the horse for $180,000. "It's the icing on the cake. I could not be happier," she said. The man who put his hand up when bidding rose steadily from the opener of $1.1 million to $1.8 million was horse syndicator Dean Watt. His company Dynamic Syndications will be listed as the new owner of Pillar Of Hercules, with a handful of others taking a stake in the horse under the Dynamic Syndications umbrella.Melbourne psychologist Bill Vlahos will take 60 per cent, while 10 per cent shares have been taken by Dean Watt, Sarah Moody and Joe Zeaiter, with the final 10 per cent share to be finalised. Racing Victoria received reassurances yesterday from the Purana Taskforce that Vlahos is not related to, and has no connection with, Yiannis Vlahos, a lawyer who has acted for Tony Mokbel.Watt beat Gai Waterhouse's bookmaker husband, Robbie, who went to $1.75 million, and two other bidders to secure Pillar Of Hercules.Watt said he was prepared to go higher than the final price of $1.8 million. "It was a very good buy at that price," he said. "It's hard to get a quality horse with pedigree with a future as a stallion. If he wins the Mackinnon, he'll be worth between $8 and $10 million."Heagney is so used to trotting out his familiar spiel, highlighting each horse's bloodlines, potential and physical make-up that he could do it in his sleep. But he was not simply spruiking yesterday.After informing buyers that they had to register before bidding, he told the hushed crowd of about 50 people that Pillar Of Hercules' genitalia had been inspected and reported that it was all "sound and in working order".He made it clear that the buyer could not seek any compensation for any "imperfections, faults and defects" in the horse. GST, he said, would only be applicable to the 25 per cent of the horse that police do not suspect has links to Mokbel. He reminded onlookers that the sale was a unique and history-making one."Well, the horse himself," he introduced, and moments later, in trotted the striking chestnut colt at the centre of all the controversy. On cue Pillar Of Hercules jigged and danced around the bottom parade ring at Caulfield.Watt's Dynamic Syndication has raced horses with success at the elite level in recent years. The syndicate has had shares in Golden Slipper Stakes winner Polar Success, Cox Plate winner Savabeel, Magic Millions winner Bradbury and dual group 1 winner He's No Pie Eater.He said he has been syndicating racehorses for 25 years but saw yesterday as a rare opportunity. "The horse has got a bit of personality about him," he said. "He's a lovely horse, he's got the pedigree and is an outstanding sire prospect. Whatever happens tomorrow is a bonus."If he never raced again, he's worth what we've paid for him."RVL chief steward Des Gleeson said the horse was now clear to run in today's $750,000 Mackinnon Stakes. "I've got no problems with the bona fides so it can run," he told reporters. But Gleeson and stewards are yet to finalise inquiries into the original ownership of Pillar Of Hercules, so while yesterday's sale was a great result for Moody, the saga is not over.Irene Meletsis was not present yesterday but was represented at the auction by her lawyers. The $1.8 million paid for the colt is likely to be held by the Asset Confiscation Office until the matter of Mokbel's involvement in the horse is settled.
© 2007 The Age