Racing's Most Expensive Dud?
Bidding war sent the Green Monkey's price to record territory, but may be a dud.
Sept. 6, 2007 — -- Every morning dozens of horses at New York's Belmont Raceway go through the same routine, and each time one of the majestic creatures faces the same nagging questions about his future.
"When's the Monkey going to start? Is the Monkey ever going to run?" barn manager Anna Seitz of Pletcher Racing told ABC's Ryan Owens.
For almost two years the racing world has waited to watch the Green Monkey run his first race, but so far a practice gallop around the track is as close as the $16 million horse has come to a race.
His trainers say he's just not ready for more.
So how did an untested thoroughbred become the most expensive horse in history?
Just before an auction last year, the Green Monkey was lightning fast in a short test run. The 2-year-old with only a decent bloodline then found himself at the center of a bidding war between a sheik from Dubai and an Irish tycoon.
The Irishman won and paid roughly $16 million for the horse.
"I think when it's all said and done the Green Monkey's going to be the answer to a riddle: What happens when deep pockets and big egos get together? You get a green monkey that cost $16 million!" said Horseplayer magazine editor Jeremy Plonk.
Compare that to some recent Kentucky Derby winners who sold at auction: Fusaichi Pegasus went for $4 million, Funny Cide for $22,000 and the horse known as War Emblem was a steal at $20,000. The Green Monkey cost 800 times that price.
Even though he has yet to compete in a single race, or earn a single dollar, those who train the horse say he's pretty convinced he's already a champion and is aware of his status.
"The Green Monkey is very full of himself," Seitz said.
She said when the ABC News crew was filming the horse he "stopped and pricked his ears" and was showing off as to say, "Hey, look at me, I'm a big stud."
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