Horse racing tycoon O'Leary to phase out his Gigginstown team
Michael O’Leary, the chief executive of Ryanair, the budget airline, has announced plans to withdraw from the world of horse racing over the next five years, and has said that his highly successful team, Gigginstown House Stud, will be phased out over that time period.
The Irish businessman and racehorse owner said that he will no longer be buying any young horses, and that he has “less and less time for National Hunt racing, a situation that will continue over the foreseeable future.”
O’Leary added: “I hope that by running down our string over an extended four or five year period it will give trainers ample time to replace our horses without disruption.”
The 58-year-old has been involved with Ryanair since the 1980’s, and is a long-time business partner of the organisation’s founder, Tony Ryan.
O’Leary and his team have enjoyed major success in National Hunt racing in recent years, with Gigginstown crowned champion owner for a seventh time in Ireland, earlier this month.
O’Leary has won the prestigious Cheltenham Gold Cup twice, and the Aintree Grand National on three occasions. Tiger Roll, an O’Leary-owned horse, won the Aintree race for the second time running last month, something that had not previously been achieved for 45 years.