Three Chimneys stallion Exchange Rate euthanized

Three Chimneys’ stallion Exchange Rate, sire of such Grade I winners as Ermine and Swap Fliparoo, was euthanized due to complications after begin treated for pneumonia, the farm announced Monday. The son of Danzig was 19 and will be buried at Three Chimneys.

In addition to pneumonia, Exchange Rate developed secondary issues including a deep vein thrombosis of a hind leg. Despite the best of veterinary care, he could not be saved.

“Exchange Rate was booked full again this year and was running on all cylinders at stud - we especially hate losing him because he was such a wonderful horse to be around and exuded class,” said Three Chimneys director of stallion nominations, Grant Williamson. “We will try to accommodate all breeders with our other stallions if at all possible.”

Out of stakes winner Sterling Pound by Seeking the Gold, Exchange Rate was purchased for $1.4 million as a yearling by Satish Sanan’s Padua Stables and was trained by Hall of Famer D. Wayne Lukas.

He was retired to stud in 2002 following a career that saw him win six of 15 starts including the 2001 edition of the Grade II Tom Fool Handicap. Exchange Rate was moved to Three Chimneys in 2008 after previously standing at Sanan’s Padua Stables in Florida.

Exchange Rate’s first crop included Grade I winners, Ermine and Swap Fliparoo and he went on to sire additional Grade I winners Reckless Abandon, Sunset Glow and Ball Dancing. Exchange Rate has sired 49 stakes winners to date, and his progeny have earned $39,601,849.

Exchange Rate bred 127 mares in 2015 and was due to stand for $20,000 once again in 2016.