MAGIC MILLIONS SALES – INTRODUCE OPTIONAL POST-SALE BLOOD TESTING
In accordance with the
Australian Racing Board’s (ARB) introduction of
new Australian Rules of Racing banning the use of anabolic steroids in thoroughbred racehorses, Magic Millions will be the first Sales Company offering purchasers of racing stock (i.e. horses not being sold as breeding stock), t
he option of requesting a post-sale blood test to screen for the presence of anabolic steroids.
This is a policy
professional buyer’s world-wide such as the
Bloodstock Agents Federation of Australia (representing its members), have been lobbying for over several years.
We believe the introduction of this service is an important and necessary policy to provide to all purchasers.
It ensures confidence and transparency in the horses being purchased.
The “optional” post-sale blood testing forms part of the conditions of sale.
Should the blood sample confirm the presence of an anabolic androgenic steroid (as defined as prohibited under the Australian Rules of Racing),
the sale of the horse will automatically be cancelled and the horse returned to the vendor at the vendor’s cost.
This optional blood testing service will commence from the first sale in 2015, the Magic Millions Gold Coast Yearling Sale (7-13 January).
As part of our due diligence, along with independent veterinary inspections which include reading x-rays in the repository and performing endoscopic evaluations, Dynamic Syndications will look to employ a policy (where applicable) to evaluate post-sale Blood Testing. This will give clients of Dynamic Syndications access to further protections now afforded to us under the Australian Rules of Racing.
This is in alignment with Dynamic Syndications company policy statement:
“Our due diligence is your product assurance.”
We are under the understanding that
William Inglis will be following a similar policy at their yearling sales in 2015.
Below is an extract from the
Magic Millions conditions of sale, introducing the new rules that apply to the testing for anabolic steroids.
MAGIC MILLIONS SALES PTY LTD - CONDITION (extract from Conditions of Sale)
ANABOLIC ANDROGENIC STEROIDS
1. The Australian Racing Board (“ARB”) has introduced new Rules completely banning the use of anabolic androgenic steroids in thoroughbred horses effective from 1 May 2014. The Australian Rules of Racing can be viewed at the ARB website www.australianracingboard.com.au and are subject to change by the ARB without notice.
2. The Vendor irrevocably authorises the Selling Agent and its veterinary representatives to take a blood sample from any Lot that is not catalogued in the Sale as breeding stock, following the sale of such Lot.
3. The Selling Agent will, if requested by the Purchaser ticking the appropriate box on the Acknowledgement of Purchase, take or have its veterinary representative take a blood sample from any Lot that is not catalogued in the Sale as breeding stock, at the cost of the Purchaser, and the Selling Agent will forward the blood sample to an official racing laboratory (as defined in the Australian Rules of Racing) selected by the Selling Agent.
4. A positive blood sample means a sample having detected in it an anabolic androgenic steroid, as defined as prohibited in the Australian Rules of Racing (noting the relevant exceptions as listed in AR178C(2)).
5. Should the blood sample prove positive the sale and purchase will automatically be cancelled and neither the Vendor nor the Purchaser will have a claim against the other nor the Selling Agent nor the Promoter.
6. The Purchaser agrees to pay to the Selling Agent five hundred dollars ($500.00) plus GST to recover direct costs and administration fees in regard to the taking and testing of the blood sample.
7. If the result is positive, the Vendor will pay on demand all costs incurred by the Selling Agent in returning the Lot the subject of the blood sample / testing to the Vendor and all other reasonable costs and disbursements incurred by the Selling Agent including, but not limited to, the commission that would otherwise be payable by the Vendor to the Selling Agent and the Promoter had the sale and purchase proceeded.
8. Should the blood sample prove positive to an anabolic androgenic steroid that Lot, and any person who is a party to the administration, will be under the jurisdiction of the Australian Rules of Racing AR15D and AR178H. The Selling Agent is obliged to disclose all information about the positive blood sample to the relevant Principal Racing Authority (“PRA”).
9. Should the blood sample prove negative, the Purchaser will have no claim against the Selling Agent nor the Promoter, and is not to be considered a guarantee of a negative result from the sampling of the Lot for anabolic androgenic steroids at any time subsequent to the Sale.