Royal Ascot doesn't need Ka Ying Rising - and it is absolutely right not to be drawn into a prize-money arms race

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How interesting to read this week that Ka Ying Rising, the seemingly unbeatable sprinter who is a star on the other side of the world, was literally a gift horse who cost his owners nothing. It is a detail to bear in mind when mulling over their decision to shut down talk of a tilt at Royal Ascot.

Michael Marais, the bloodstock agent who discovered the horse and sold him into David Hayes's yard, explained how it worked in a Racing Post story this week. 

"This syndicate got a bad horse from us and when people get a bad horse, we give the people free horses," he said. "Ka Ying Rising was given free of charge to Ka Ying Syndicate because they had a bad horse. There was no money involved."