Yulong buys That’s Gold as spending spree on New Zealand’s best racehorses continues

That's Gold blitzed his opponents in last Saturday's Eagle Technology Avondale Guineas at Ellerslie. Photo / Kenton Wright

The mammoth spending spree on New Zealand racehorses by one of the world’s biggest racing operations has continued with That’s Gold being sold to Australia.

But in a touch of irony, racing giants Yulong are only buying back the Avondale Guineas winner they originally sold for far less as a yearling.

Trainer Chris Wood confirmed to the Herald on Friday night that he and his owners eventually caved in to Yulong’s attempts to buy That’s Gold, one of the favourites for next Saturday’s $1.25 million HJKC World Pool Derby.

“They had asked a few times before but we stuck solid on our price, but eventually it got to an amount we couldn’t refuse,” said Wood.

“I will be training him until after the Derby and then he will transfer to an Australian trainer.

“It is sad to see him go but he has done a wonderful job and we look forward to trying to win the Derby with him next Saturday.”

Yulong has become one of the most dominant forces in world racehorse ownership and breeding with a significant list of Group 1-winning mares and a growing group of stallions.

One of those stallions is Lucky Vega, the sire of That’s Gold, so if their latest purchase can make an impression in Australia it will boost his stocks there as well.

While Yulong’s spending in Australia and Europe is nothing new, they had not set their sights on New Zealand racehorses until this season, concentrating mainly on buying our retired glamour mares such as Imperatriz and Melody Belle for their broodmare value.

Their first big venture into New Zealand racehorses came this season when they purchased half of unbeaten filly Well Written, the $1.20 favourite for next Saturday’s $4m NZB Kiwi.

They then purchased staying filly Ohope Wins in what has proved a masterstroke as she has since won the Ellis Classic and NZ Oaks and is favourite for the Australian Oaks.

They also bought another 3-year-old staying filly in Autumn Glory, who then won the Waikato Guineas and finished second in the NZ Oaks.

Autumn Glory is favourite for next Saturday’s Derby so Yulong now owns the first and third favourites for that classic and the hot favourite for the NZB Kiwi.

That could make for an incredible hour at Ellerslie next Saturday for Yulong and payback for one of the most surprising summer spending sprees on New Zealand racehorses in the industry’s history.

Michael Guerin wrote his first nationally published racing articles while still in school and started writing about horse racing and the gambling industry for the Herald as a 20-year-old in 1990. He became the Herald’s Racing Editor in 1995 and covers the world’s biggest horse racing carnivals.