NATHAN Tinkler is understood to have sold Caulfield Guineas winner All Too Hard and the foundation stone of his foray into horseracing, Patinack Farm Aberdeen, as part of a deal worth $30 million yesterday.
Fairfax Media has learned Vinery Stud, which is part-owned by Gerry Harvey and Black Caviar's owner Neil Werrett, will be the new owner of All Too Hard and Onemorenomore, which stands at Hunter Valley stud, and the Aberdeen property. Vinery Stud general manager Peter Orton would only confirm the stud was in discussions about buying All Too Hard, which is a half-brother to the unbeaten Black Caviar, last night.
"I think any stud would like to have a stallion prospect like him, and there are at least two other studs in the market," Orton said.
Insiders in the Tinkler group were saying privately yesterday that a lot of problems had been solved by the sale of All Too Hard.
However it is not clear how much cash, if any, Tinkler will pocket from the deal.
The former billionaire was extended a loan recently by Harvey, reported to be $20 million, as his financial woes deepened.
An announcement about the deal will be made before Christmas as Tinkler's spectacular fall from Australia's youngest billionaire gathers momentum.
Werrett was the underbidder on All Too Hard, which is by Patinack stallion Casino Prince, as a yearling when Tinkler paid a sale-topping $1.025 million at the Inglis Easter Sale.
All Too Hard made an immediate impact on the racetrack winning his first three starts under the guidance of training partnership John, Michael and Wayne Hawkes.
He was favourite for the world's richest two-year-old race, the Golden Slipper, before a decision was taken not to start.
All Too Hard was runner-up to Pierro in the Sires Produce Stakes at his final start as a two-year-old and turned the tables on his conqueror in the group 1 Caulfield Guineas at fourth run as a three-year-old. He backed up a week later and ran second to Ocean Park in the Cox Plate.
All Too Hard will campaign in the autumn and is likely to go to Royal Ascot in June.
Bennett backs Tinkler, Page 72