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Sheikh Mohammed Remains Committed to Racing, Chief Buyer Says

Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai, remains committed to horse-racing even after slashing his spending on young horses by 60 percent this week at Europe’s largest bloodstock auction, his chief buyer said.

Sheikh Mohammed, the world’s biggest racehorse owner, and his associates spent 3.21 million guineas ($5.4 million) on 24 yearlings during a three-day auction at Tattersalls in Newmarket, eastern England, that ended yesterday. That compares with 8.16 million guineas on more than 43 thoroughbred horses during the same sale last year, Europe’s biggest bloodstock auctioneer said.