Kerry owners of Cheltenham hopeful distance themselves from businessman charged with major drugs haul
Stumptown In Paddy The Keith Picture: Ridden Power At January By Healy Wins Donoghue Cheltenham Racing Handicap Chase
The Kerry owners of Cheltenham Festival hope Stumptown have moved to distance themselves from the Tralee businessman charged in connection with a major drugs shipment investigation before the courts.
The horse, which goes in the Ultima Handicap Chase on the opening day of the festival, is owned by a syndicate of local businessmen in Kerry, one of which was Nathan McDonnell, a director of Ballyseedy Garden Centre, who is currently before the courts on charges relating to possession of drugs for sale or supply.
The four remaining owners issued a statement on Thursday, confirming Mr McDonnell was no longer a shareholder of Stumptown, "and has been removed from the syndicate".
The group confirmed Mr McDonnell had been a 10% shareholder, but was not an owner at the time of the horse's entry for Cheltenham.
Stumptown has already won at Prestbury Park this year, claiming the Paddy Power Handicap Chase there on January 1. However, the winnings of about €30,000 remain with the Horse Racing Ireland.
"No prize monies have ever been redistributed to shareholders," added the syndicate.