Buyer gets a Lemon Drop Kid share but not a Kingmambo share?

[KBEquine]

I had no earthly idea which forum was best for this question, but I've been following the story where a group tried to buy a share in both Lemon Drop Kid & Kingmambo.

Leaving out the legal wrangling, in the end, I believe the judge said the other shareholders had a right of first refusal & had to be offered the chance to buy each share first, before an outsider could buy it.

So none of the shareholders of the Lemon Drop Kid apparently wanted the extra share in him (so the outside group was allowed to buy it) but one of the shareholders in Kingmambo bought the share & the outside group was shut out.

My question: Since Kingmambo has been pensioned, why would the other shareholders buy that share? I would have thought there might have been value in owning the added share of a stallion still breeding & not the extra share of the pensioned stallion.

Or, does pensioned mean something other than 'no longer breeding' like, no longer standing to outside mares, so if you don't have a share, you are out of luck?

Thanks to anyone who can clarify for me.

[Hold Your Peace]

I had no earthly idea which forum was best for this question, but I've been following the story where a group tried to buy a share in both Lemon Drop Kid & Kingmambo.

Leaving out the legal wrangling, in the end, I believe the judge said the other shareholders had a right of first refusal & had to be offered the chance to buy each share first, before an outsider could buy it.

So none of the shareholders of the Lemon Drop Kid apparently wanted the extra share in him (so the outside group was allowed to buy it) but one of the shareholders in Kingmambo bought the share & the outside group was shut out.

My question: Since Kingmambo has been pensioned, why would the other shareholders buy that share? I would have thought there might have been value in owning the added share of a stallion still breeding & not the extra share of the pensioned stallion.

Or, does pensioned mean something other than 'no longer breeding' like, no longer standing to outside mares, so if you don't have a share, you are out of luck?

Thanks to anyone who can clarify for me.

Kingmambo definitely isn't breeding anymore.

The speculation about why the share has value has been that their must still be income due to whoever holds that share from a past season or seasons.

And of course the group trying to buy these shares is going to say the syndicate stepped up to buy the Kingmambo share so they don't have to open their bookkeeping to an outsider (this group trying to buy the share claims there has been dirty dealing going on).

Who knows though. No one is going to talk much about any of this for fear of further legal shenanigans.

In my opinion that was a hell of a high price they paid for the Lemon Drop Kid share so I'm not surpised no syndicate members wanted to match that offer. And they say the books for Lemon Drop Kid will of course be made available for the new shareholder to audit.

[Crystal]

they probably started this deal when he was still breeding.

[KBEquine]

they probably started this deal when he was still breeding.

Hi Crystal -

Yes, they did (start the deal when he was still breeding). But I was curious that they wanted to continue it after he had been pensioned.

Hold Your Peace: Thanks - I was wondering if there was residual value from prior breeding seasons or something, so that all makes sense.