Three Chimneys announced Thursday that Rahy, one of the Midway farm's "cornerstone" stallions has died at age 26.
Rahy was retired from stallion duty in 2009 at age 24 because of declining fertility but remained at the farm's stallion division as a fan favorite.
Three Chimneys owners Robert and Blythe Clay said in their news release that Rahy died from the infirmities of old age.
"Rahy was a cornerstone in the development of Three Chimneys," Robert Clay said. "He was a little horse with a lot of heart. We owe him so much."
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By Blushing Groom and out of the Halo mare, Glorious Song, Rahy was one of the farm's flagship stallions, beginning his stud career at Three Chimneys in 1990 for a fee of $15,000. His fee rose as high as $100,000 during a career in which he emerged as a leading international sire and later as a highly sought-after broodmare sire.
Sold to Sheikh Maktoum for $2 million as a yearling, Rahy began his racing career in Europe before being transferred back to the United States as a 4-year-old.
Upon his retirement from racing, Three Chimneys bought a 50 percent interest in Rahy and stood him in partnership with the Maktoum family for the duration of his career.
"Rahy is one of the most important stallions we've had," said Three Chimneys President Case Clay.
In a stallion career that spanned 19 years, Rahy sired 91 stakes winners, including 13 Grade/Group I winners and 14 millionaires. His progeny have accumulated nearly $97 million in worldwide earnings. His offspring's $109,470 average earnings per starter puts him in the top one-half of 1 percent of all sires.
Some of his most notable offspring include European Champion and Breeders' Cup Turf winner Fantastic Light, Hall of Famer and 11-time Grade I winner Serena's Song, and champion Dreaming of Anna.
As a broodmare sire, Rahy sired the dams of more than 100 stakes winners, including the dams of Giant's Causeway, Rutherienne and Life At Ten.