Bloomberg reports that the Sheikh’s main bloodstock adviser and buyer John Ferguson said: “The horse side of the business is the private enjoyment of Sheikh Mohammed, so therefore has nothing whatever to do with the government, or government funds and the restructuring.”
World markets were rocked earlier in the week when Dubai state-run company Dubai World said it would ask creditors for more time to pay off its $59 million debts.
Ferguson said that the Sheikh Mohammed’s spending at this year’s December sale in Newmarket was around the same as last year. According to a recent report in UK newspaper The Times, the Sheikh is the biggest racehorse owner and breeder in the sport’s history, with about 700 race horses in training.
