Life goes on for Al Homaizi's £20m worth of talent - but at what cost?

Two-year-olds are continually being given names and speculative entries as the Flat racing season continues, meaning the new owners and trainers of some of the £20 million-worth of yearling talent never paid for by Saleh Al Homaizi are finally being revealed.

The Kuwaiti businessman, formerly the part-owner of 2007 Derby winner Authorized, had successfully bid for 31 colts and fillies in the premier yearling sales across Britain, France, Ireland and the United States through bloodstock agent Richard Knight. Throughout that time, his identity was never acknowledged and it was not until January that it began to emerge that payment for any of them had been defaulted.

It was an embarrassing situation for the auction houses involved, which had seemingly received assurances that the bill would be settled only for the funds to not materialise. Having paid the vendors, they still had the horses on their hands.