THE favourite for the Grand National could be blocked from running – after his owner Michelle Mone had £75million of assets frozen.
Monbeg Genius is the current 14-1 co-favourite with some bookies for the Aintree blockbuster in April.
GettyMone’s Grand National co-favourite could be blocked from running after she and her husband had £75m assets frozen[/caption]
Trainer O’Neill with Monbeg Genius – the horse Mone called ‘the newest member of our family’
Victory in the world’s most famous race is worth a whopping £500,000.
But a report in the Guardian states bosses at the British Horseracing Authority are investigating whether the horse – which Mone bought as an £80,000 gift for her husband Doug Barrowman – falls under the list of assets.
Monbeg Genius, an eight-year-old gelding, was due to run in the Welsh Grand National last month but was pulled out at the 48-hour declaration stage.
The horse was last seen finishing third at Newbury earlier that month and has long been tipped by experts as a potential National winner.
He also finished third in last year’s Ultima at the Cheltenham Festival – a race won by subsequent Grand National hero Corach Rambler.
Jonjo O’Neill Jr, son of Monbeg Genius’ trainer Jonjo, said earlier this month that the Grand National had been the plan since that race almost 12 months ago.
But racing chiefs could potentially block the horse from running if he is deemed one of their assets.
Such a situation arose recently in the case of John Dance, the high-profile owner at the centre of an alleged £80m fraud investigation.
Dance’s WealthTek company was shut down by the Financial Conduct Authority in April last year and they placed a £40m freezing order on his assets.
That led to him selling his share in superstar King George winner Bravemansgame.
Mone and her husband had £75m of assets frozen or restrained by court order last month.
The couple face a National Crime Agency investigation into alleged fraud, with assets seized including a six-bedroom London townhouse, Isle of Man country estate and 15 bank accounts.
The CPS applied for the order on the Tory peer and Barrowman under the Proceeds of Crime Act.
The bra tycoon has admitted that she stood to benefit by about £60m from profits on personal protective equipment sold to the Government during Covid by a firm led by him.
Assets can be held for potential confiscation in case of a conviction.
The allegations include conspiracy to defraud and bribery, which they deny.