Australia's "most expensive and controversial young thoroughbred, known affectionately as 'Jimmy,' has lost his battle with the crippling foot injury laminitis," according to Bartley & Butler of the SYDNEY MORNING HERALD. Just before midday on Sunday, all parties involved, including the insurance underwriters, agreed that the $5M ($4.3M) younger half-brother to world champion sprinter Black Caviar "would be euthanised on humane grounds." The colt "has been the talking point of Australia" ever since he was purchased for A$5M by Bill Vlahos last April. However, the architect of the ''punting club'' failed to pay for the youngster. Inglis Bloodstock "recently repossessed the horse after Vlahos failed to honour a number of deadlines to pay the money for the regally-bred colt" (SMH, 12/29). In Melbourne, Rule & Stewart reported "devastated owners" of Jimmy "fear losing their money as well as the horse." The most expensive colt sold at auction in Australia was "never able to race after life-threatening complications of laminitis." Sorrow "turned to anger" on Sunday night when investors in Bill Vlahos's BC3 Thoroughbreds realized that "they might have to pursue bloodstock agents Inglis" for their share of a A$5M insurance payout. One Goulburn Valley family syndicate paid A$70,000 in insurance premiums above the A$250,000 stake they put up for a 5% share "in the doomed colt" at the Sydney Yearling Sales last Easter. Mooroopna's Graeme Wood said, "Those of us who paid for the horse and paid for the insurance policy are morally entitled to our share of the insurance payout" (HERALD SUN, 12/29).
