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23 September 2017 07:39 (South Africa)

Dubai Sheikh cuts racehorse spending, drastically

  • Andy Rice
    andy rice
    Andy Rice

    Andy Rice is a founding partner of Yellowwood Future Architects, a marketing strategy consultancy. In his other lives, he is the southern hemisphere's only supporter of Cambridge United Football Club, and was once upon a time the South African National Spoofing Champion. He has played football at Wembley and cricket at Lord's within the same weekend, but troubled the scorer on neither occasion. Things could only go up from here.

Sheikh Mohammed bin Rahid al-Maktoum, the ruler of Dubai, is clearly feeling the pinch of the global economic situation. He's slashed his spending on his favourite indulgence - racehorses - spending "only" 3.21 million guineas ($5.4 million) at Europe's biggest racehorse auction in Newmarket, UK, which ended on Thursday. Sheikh Mohammed spent 8.16 million guineas on horses at the same auction last year. Clearly he's got other things on his mind than augmenting his award-winning stable - Dubai's debt crisis pre-eminent among them. Read more: Bloomberg

  • Andy Rice
    andy rice
    Andy Rice

    Andy Rice is a founding partner of Yellowwood Future Architects, a marketing strategy consultancy. In his other lives, he is the southern hemisphere's only supporter of Cambridge United Football Club, and was once upon a time the South African National Spoofing Champion. He has played football at Wembley and cricket at Lord's within the same weekend, but troubled the scorer on neither occasion. Things could only go up from here.

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