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Breeding rights for American Pharoah sold to Coolmore

Preakness Stakes winner American Pharoah stops his morning walk to check out the crowd around the stakes barn, Sunday, May 17, 2015 at Pimlico Race Course in Baltimore. (AP Photo/Garry Jones)
Preakness Stakes winner American Pharoah stops his morning walk to check out the crowd around the stakes barn, Sunday, May 17, 2015 at Pimlico Race Course in Baltimore. (AP Photo/Garry Jones) Preakness Stakes winner American Pharoah stops his morning walk to check out the crowd around the stakes barn, Sunday, May 17, 2015 at Pimlico Race Course in Baltimore. (AP Photo/Garry Jones)

By Associated Press 1 min read

NEW YORK (AP) – The owner of Triple Crown hopeful American Pharoah has sold the breeding rights to the Kentucky Derby and Preakness winner to Coolmore Ashford Stud in Kentucky.

Owner Ahmed Zayat confirmed Wednesday a deal has been reached, but would not disclose the value. Even before the deal, Zayat’s son, Justin, said the family had been inundated with offers, many for more than $20 million.

Zayat said even if American Pharoah wins the Belmont Stakes on June 6 and becomes the first Triple Crown winner since Affirmed in 1978, he planned to keep racing the colt through the end of the year.

On Jan. 1, 2016, Coolmore takes control, and American Pharoah would likely be retired. He said he still owns 100 percent of the horse, and will keep an undisclosed share when American Pharoah is retired.