Calumet Farm sold to investment group for $36M
Thursday, May 3, 2012
LEXINGTON, Ky. (AP) -- The famed Calumet Farm has been sold to an investment group for nearly $36 million.
Calumet is located near Keeneland racetrack and is the breeder of a record nine Kentucky Derby winners.
Kennelot Stables announced the sale to Calumet Investment Group Trust on Thursday. It said the farm has been sold to a group that will lease the farm to former tobacco executive Brad Kelley's operations.
With its white-plank fences and white barns trimmed in the red silks of its former owners, Calumet is the postcard image of a Bluegrass farm. It was also the gold standard of the thoroughbred industry between 1934 and 1982 when it produced 148 stakes winners and earned $26.4 million in purses.
The trust said the new operator plans to continue thoroughbred operations at Calumet.