Prominent Australian businessman and Thoroughbred breeder Gerry Harvey
announced on Friday that he and his family have purchased the entire Magic
Millions Sales company.
“At a meeting held last night my family and I agreed to acquire the interests
of John Singleton and Rob Ferguson, to own 100 percent of Magic Millions, for an
undisclosed figure,” Harvey stated.
“As a result of this development, Dr. Stephen Silk has resigned from his
position as managing director of Magic Millions effective immediately. David
Chester will act as interim managing director for the company, until such time
as a new managing director is appointed. The search for a new managing director
is underway.”
Harvey said it was business as usual for the Thoroughbred sales company.
“We have a great team at Magic Millions and we are focused on our upcoming
yearling sales in Perth, Tasmania and Adelaide as well as the rescheduled QTIS
600 Yearling Sale in April,” he added.
The 2011 Magic Millions Perth Yearling Sale is scheduled to begin on February
9.