California Thoroughbred breeder Jerry Jamgotchian will acquire a share of top stallion Lemon Drop Kid for $350,000 after syndicate members declined to block the sale.
Jamgotchian's $175,000 offer for pensioned stallion Kingmambo was matched, and current members elected to close the syndicate, said William Hoskins, attorney for Lane's End Farm.
The farm was forced to forward Jamgotchian's offers for the two stallions after a court ruling last month.
Jamgotchian said Wednesday that he plans a full audit of Lemon Drop Kid's books.
Hoskins said current members had full access to books in weighing Jamgotchian's offer, which Hoskins said he considers artificially inflated by a commission to Jamgotchian.