One day after failing to sell at auction, Xtra Heat was sold privately for $1.5 million to ClassicStar, a Utah-based group with a farm in Kentucky and high hopes for Xtra Heat as a broodmare.
Tony Ferguson, one of ClassicStar's owners, said yesterday that Xtra Heat would continue racing for John Salzman, her Laurel trainer, until the decision is made to breed her to a top Kentucky stallion.
"Xtra Heat has proven speed and proven durability," Ferguson said. "She's a great East Coast sprinter and we think she'll be a great future mother. She's a very special horse."
ClassicStar has 24 horses in training and 57 pregnant broodmares at its 300-acre farm in Lexington, Ky., Ferguson said. He and his partners - S. David Plummer, Thom Robinson and John Parrott - are in the process of upgrading their broodmare band, he said.
Yesterday, ClassicStar bid $4 million for Bless, a 3-year-old full sister to Fusaichi Pegasus in foal to Storm Cat, at the Keeneland November breeding stock sale in Lexington. On Sunday, ClassicStar bid unsuccessfully for Xtra Heat, Ferguson said.
Xtra Heat's Maryland owners - Salzman, Ken Taylor and Harry Deitchman - had placed her in the Fasig-Tipton auction three days ago, also in Lexington. She failed to meet her reserve, or minimum price, and did not sell. The next day, the deal with ClassicStar was consummated privately.
Salzman said it was time to sell Xtra Heat, a 4-year-old filly who has won 24 of 32 races and earned $2.2 million in the past 2 1/2 years. Salzman and his partners paid $5,000 for Xtra Heat in May 2000 at an auction in Timonium.
"It's a business," Salzman said. "If you go too far, it's like rolling the dice. How much more can that filly do?"
Salzman will continue having a say in that. Ferguson said he and his partners would rely heavily on Salzman's advice when deciding when and where to race Xtra Heat.
Ferguson said they'd like to run her in the $2 million Dubai sprint stakes in March and then decide whether to breed her next spring or wait until 2004. Xtra Heat finished third in the Dubai race last year.
"I got the best of both worlds," Salzman said. "We got the deal done, and I get her to train."
The final bid Sunday for Xtra Heat was $1.7 million, but that was not, apparently, what anyone was willing to pay. Salzman said he believes "live" bidding ceased at about $1.35 million.
He said he didn't know who kept bidding after that. Salzman had been forthright beforehand, saying it would take close to $2 million to snare Xtra Heat in the sale.
The next day, ClassicStar increased its offer, and Salzman and his partners lowered their price. A compromise was struck.
Ferguson said ClassicStar representatives would meet with Salzman soon and plot strategy for the speedy filly who has won the hearts of racing fans around the country. After her racing career, Ferguson said, Xtra Heat will reside at ClassicStar's farm in Kentucky, making babies and "living out her life in luxury."