The racing industry took a collective sigh of relief today – the man who spends more money in Australian racing than anyone else does indeed have a passport.
It has been the billion dollar elephant in the room for months – where is Yuesheng Zhang, the head of Yulong? Turns out he’s doing fine, has a passport and is just working away back home in China.
From Treasurethe Moment to Via Sistina, Yulong have had their fair share of success. Given how much they spend in Australia, you’d probably expect it too.
The rumours of Zhang’s whereabouts has had people talking – some out of interest, others out of nervous curiosity.
The main rumour is Zhang – who went from driving cabs to owning coal mines – had his passport confiscated, which Yulong finally denied today to NewsCorp’s Ben Dorries.
Asked specifically about the passport, the Yulong bosses son-in-law Jun Zhang told Dorries: “This is not right at all, this is definitely not right.”
“The rumours are a little bit out of control. Yes, he will be back in Australia at that time, for the Magic Millions.”
“We will be a vendor there and we will be buying some yearlings there as well.”
“The reason why he couldn’t join the spring carnival is that he has a big job in China and he stayed in China to manage his company.”
“Yes, he is free to travel outside of China. We will see him back to Australia soon, he loves to see the (stud) farm and he loves to see the horses.”
Without saying the obvious, if Yulong were to leave Australian racing it would be a disaster for quite a few in the industry. Catastrophic actually, to say the least.
Mainly the breeders who make a killing when Yulong’s cheque book opens, plus the sales joints such as Inglis and Magic Millions too would be aghast at the thought of Yulong not raising their hands to bid.
Even when Yulong happens to not win an auction, such as the case when Bella Nipotina was for sale, they drive up the asking price considerably. Their collection of broodmares is extensive.
And of course there are the litany of trainers now with Yulong’s good and bad horses across the country earning good coin. So there’ll be collective relief that arguably the biggest investor in Australian racing is here to stay and presumably ready spend up big again.
Now we’ve been assured Zhang will be on the Gold Coast in January for the Magic Millions sale, we have no doubt the media up there to enjoy the good weather, beaches, the casino and the odd free beer will be pressing the man himself on just how secure his long-term Australian based operations are.
