JP McManus has poached Cheltenham Festival favourite The New Lion for a rumoured £1million, according to reports.
The game’s biggest owner is believed to have sealed the astonishing coup just two months before racing’s biggest event.
Novice hurdler The New Lion was previously owned by Darren Yates – who became a multi-millionaire after betting his last £62 on Frankie Dettori’s Magnificent Seven in 1996.
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One source in the bloodstock world told Sun Racing there was ‘no way’ Yates would consider offers under £500,000 for his awesome Challow Hurdle winner, who is 3-1 fav for the Turners Novices’ Hurdle.
It is believed the figure billionaire McManus paid is between £800,000 and £1m.
The six-year-old gelding is a perfect four from four and never came off the bridle in winning his first Grade 1 last month.
The New Lion is trained by Dan Skelton, who won the old Turners Novices’ Chase last season with Grey Dawning.
Speaking after The New Lion’s Challow win, Yates said: “The story of this horse is unbelievable.
“I owned Blaklion and when we retired him I told Dan I wanted another (horse by) Kayf Tara.
“That’s why we called him The New Lion – after the amazing horse that was Blaklion.
“It’s very rare that you buy a horse, name him after a superstar and it looks like he’s going to follow in his footsteps.
“He’s one of the last Kayf Taras – he’s obviously passed away.
“Harry and Dan told us about this horse before he even won a bumper.
“We’ve been offered a lot of money but we’ve been waiting a long time for a good one and it looks like we’ve got one.”
Clearly McManus’ cash proved enough to convince Yates to sell up this time, though.
And that is interesting considering Yates is believed to be worth around £20m.
Denied a £700 overdraft just a day before his life-changing punt, Yates won £550,000 backing Dettori to win all seven races at Ascot almost 30 years ago.
Of the fateful day, he said: “I’d been playing football for my local team in Morecambe and only caught the racing results over a post-game pint.
“I asked how it was going and they said Dettori had four out of four. I reckoned I’d won £700.
“Then Dettori’s fifth and sixth horses went in and I thought I was heading for the £24,000 mark.
“So I went down to the betting shop to watch the seventh race and just quietly sat there.
“I couldn’t believe it when Frankie stormed home. I asked the counter girl how much I’d won, thinking it would be about £50,000. When she told me it was over £500,000 I almost fainted.”
He invested that cash wisely in property development and his true love – racing.
But even his vast reserves are dwarfed by the cash McManus is willing to splash on top equine talent.
And his squad – easily identifiable by their green and gold hoops – looks strong for this year’s Cheltenham.
Jonbon is 9-4 favourite for the Champion Chase while Fact To File is as short as 4-1 for the Gold Cup.
Win Some Lose Some is favourite for the Pertemps, Perceval Legallois heads the market for the Kim Muir and Its On The Line is fav for the Hunters’ Chase.
McManus has a total stronghold on the Mares’ Chase, owing four of the top five in the market.
Looking ahead to the Grand National, McManus owns current fav and defending champ I Am Maximus, as well as the fancied Iroko, Corbetts Cross and Inothewayurthinkin.
The New Lion won his debut bumper by five lengths at Market Rasen last April.
He has won three times this season, bagging a maiden hurdle at Chepstow at the end of October before his Newbury double.
The New Lion was weak in the market ahead of his Challow Hurdle win, sent off 9-4 against 5-4 fav Regent’s Stroll.
But Skelton didn’t move a muscle as he glided home in the 2m4½f contest, bagging Yates £56,950.
If The New Lion was sold at the upper end of estimates, putting him at around £1m, then he would still fall short of the record for the most expensive jumps hors ever sold.
That distinction goes to Palladium, the German Derby winner Lord and Lady Bamford paid £1.2m for and put in training with Nicky Henderson.
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