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Billionaire Nathan Tinkler Bowing Out Of Patinack Farm Racing, Breeding Operation

The "largest unreserved, private thoroughbred dispersal sale in Australian history will take place next month" as Nathan Tinkler "bows out less than a decade after his Patinack Farm racing and breeding operation threatened to build an empire overnight," according to Brendan Cormick of THE AUSTRALIAN. Racehorse auction house Magic Millions Managing Dir Vin Cox said on Thursday that the dispersal would represent an "unparalleled opportunity to buy some of Australia's most valuable breeding and racing thoroughbreds." Cox: "Everything will be sold." Half or full relations to stakes-winners include Makybe Diva, Commands, Serious Speed, Sabatini, Turffontein, Onemorenomore, Whittington and Divine Madonna, "to name but a few." The "entire portfolio of Patinack Farm stallions, broodmares, foals, yearlings, two and three-year-olds and older racehorses will be knocked down to bargain hunters" (THE AUSTRALIAN, 8/22). In Sydney, Ray Thomas reported Tinkler discussed his "decision to sever all ties with Australian sport" in an "explosive interview." That includes "walking away from his dream of becoming Australian racing's most powerful owner, his decision to relinquish his stake" in National Rugby League side Newcastle Knights and "plans to sell off" A-League side Newcastle Jets. Tinkler: "I said recently that there will be no racing stables or football teams in my future and I stand by that. I got a bit sick of funding other people's playthings and being blamed when they didn’t work out." Tinkler, a billionaire miner, "has been embittered by his NRL experience and concedes he doesn't miss his time as the club's owner." He added, "I've been very good to Newcastle. But that place hasn't done anything but shit on me." Tinkler said he has been "keen to sell off his thoroughbred racing and breeding empire for 18 months." Tinkler: "I thought I had the place sold twice. I was pretty fair to both buyers, giving them time to perform and they haven't" (DAILY TELEGRAPH, 8/22).

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