Shareholder in leading Cheltenham Festival hope removed from syndicate after major drugs bust

A Tralee businessman charged in connection with one of Ireland's biggest drugs busts is no longer an owner of leading Ultima Handicap Chase hope Stumptown, a statement from the syndicate has revealed.

Nathan McDonnell, the 43-year-old who was chief executive of the Ballyseedy Group in County Kerry which ceased trading last Sunday, had a ten per cent share in the seven-year-old chaser.

He was removed from the Furze Bush Syndicate after news emerged of an arrest for his involvement in a crystal meth seizure with an estimated value of €32.8 million (£28m).

McDonnell has been charged with possession of drugs worth more than €13,000 for sale or supply.

The syndicate confirmed McDonnell was a shareholder in the staying chaser, who was just touched off by Angels Dawn in last year's Kim Muir having been sent off 7-2 favourite, but that is no longer the case after his name was removed from the ownership.

A statement from the syndicate, which has four remaining members, said: "Nathan McDonnell is no longer a shareholder of Stumptown and has been removed from the syndicate. He was previously a ten per cent shareholder. He was not an owner at the time of entry to the Ultima. No prize-monies have ever been redistributed to shareholders."

Stumptown, trained by Gavin Cromwell, has won £70,487 in prize-money, including £26,015 for winning a handicap chase at Cheltenham on New Year's Day, and he is only 9-1 with Paddy Power to supplement that success in the Ultima on day one of the Cheltenham Festival.

He will carry 11st 3lb in the Ultima having been allocated a mark of 148 in the race. The market is headed by Paddy Power Chase winner Meetingofthewaters at 5-1.

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