A well-known New Zealand racehorse breeder is relieved his famous Cambridge Stud will remain in Kiwi hands after selling the property he has owned for over 40 years.
Sir Patrick Hogan knows what it takes to breed a winner, with Melbourne Cup winning horse Jezabeel just one of the success stories emerging from Cambridge Stud in the last five decades.
"Cambridge Stud in that 41 years have been responsible for, or produced, eight Melbourne Cup winners and four Cox Plate winners.
"That's never been done by any other stud farm that sort of performance," Sir Patrick told 1 NEWS.
Two years ago the 78-year-old knew it was time to sell. He got plenty of offers, but one thing was missing from all the potential buyers.
"I had plenty of inquiries and a number from overseas, from different countries.
"But there was the uncertainty, of what would happen to Cambridge Stud if it was in the hands of overseas people and not New Zealanders," Sir Patrick said.
Early this month he got a call from another Cambridge success story, Brendan Lindsay. Mr Lindsay is the man behind Sistema Plastics, a business he sold last year for a staggering $660 million.
"He said well you want to sell it, I want to buy it so end of meeting. You get your lawyer, I'll get my lawyer, see you early next week," Sir Patrick said.
For Sir Patrick Cambridge Stud is all about legacy, one he feels Brendan Lindsay is more than capable of continuing.