Spendthrift Farm will discontinue its operations in Australia and put its property there up for sale, it was announced Wednesday.
“This has been a very difficult decision for us,” said Eric Gustavson, owner of Spendthrift. “We have a wonderful team in Australia and will be working closely with them to help make this as smooth a transition for them as possible. The Thoroughbred industry in Australia is one of the finest in the world, and we have great respect for the job they've done in building it. We've been fortunate to meet so many amazing people there and have very much enjoyed the experience.”
Spendthrift Australia is on 600 acres just outside of Melbourne. Its colonial stallion roster includes Overshare, Swear, Gold Standard and Dirty Work. The farm is also home to some 50 broodmares along with their foals and yearlings.
“We want to thank all of our staff in Australia for their hard work over the years,” said Ned Toffey, Spendthrift's U.S. general manager. “We have made it a point at Spendthrift to branch out and try new things. Naturally, not every idea is going to work but I will guarantee you we will continue to take that approach.”