Gewan downs Dewhurst big guns to spring 25-1 upset for Andrew Balding

The 150th running of the Dewhurst Stakes was also a landmark win for rising force Yulong Investments, who put established superpowers Coolmore and Godolphin in the shade when Gewan made the most of a prominent position under James Doyle to give Andrew Balding a second win in four years in the highlight of the Dubai Future Champions Festival.

Balding's previous Dewhurst winner, Chaldean in 2022, went on to land the 2,000 Guineas the following year, and Gewan blew that market apart here when crossing to the stands' rail to repel the challenges of leading fancies Gstaad and Distant Storm at odds of 25-1.

In contrast to Chaldean, who was sent off 5-2 joint favourite on account of his previous success in the Champagne Stakes at Doncaster, Gewan was largely ignored in the market after his defeat in the same contest at Doncaster last month. However, he bounced back in style here and was cut to 10-1 (from 50) for the first Classic of 2026 in the aftermath of his surprise win.

Gewan should be Guineas favourite after Dewhurst, but the picture could soon change with this Ballydoyle colt

Owner Zhang Yuesheng's Yulong Investments stepped in to buy the striking grey after he won the Group 3 Acomb Stakes at York in August, when he again had Distant Storm in arrears, and the long-term dream is to stand him at their new Ace Stud at nearby Dullingham.

Balding said: "It was really good to see Gewan back on track. We were saying before the race that he was overpriced [in the betting] because his York win was very good.

"I think you had to forgive him Doncaster and his work at home had been very good. He still had to come and do it, but he was given a brilliant ride and he's a very good horse.

"The ground didn't help at Doncaster, but I don't think that was the only reason he ran as he did. Whatever the reason, he was at his best today."

Two Dewhursts in four years is not bad going for the Kingsclere operator and this success puts him £283,550 closer to Aidan O'Brien at the top of the trainers' championship.

Balding added: "He's very similar to Chaldean. If you forgive Doncaster, he came here with every chance. The Acomb form was rock-solid and it's a relief that he's shown he's a top horse."

James Doyle was all smiles after Gewan's winCredit: Edward Whitaker (racingpost.com/photos)

On the owners of the grey, Balding said: "Yulong have been brilliant. I've had a few for them and they took the defeat at Doncaster without flinching despite just having bought the horse, and that enabled us to kick on and stick to a plan."

Doyle was celebrating a first Dewhurst success, and said of Gewan: "He quickened up very well between the three and the two pole and was very professional out in front.

"Obviously things didn't go to plan on his first start for the owners, but it's nice for them that he has come back from that and they have a nice Classic horse on their hands for next year."

Representing the winning owners was Paul Curran, who said: "It's a fantastic result for us at Yulong Investments and the idea one day would be for him to stand at our new stud in Dullingham, Ace Stud."

Aidan O’Brien was just shy of a record ninth win in the race with Gstaad, and said: “Next year he will be older and stronger, but he ran a good race and you have to be very happy with him. I think the race worked out lovely. He would be one for an English or Irish 2,000 Guineas.”

Charlie Appleby had to settle for third with Distant Storm and took some positives ahead of next season, saying: "After he was beaten in the Acomb by today's winner, we thought we'd give him one more run and put him away, and then when he won the Group 3 here last time as he did we were drawn into the Dewhurst.

"William [Buick] said he rode like a horse who will be better with some time over winter to develop. He felt that the immaturity was coming out in him today, but he's lost nothing in defeat as we see him as a Guineas horse next year.

"Whether he runs in the Craven Stakes or has a racecourse gallop before that, we'll have to see."

The Eve Johnson Houghton-trained Zavateri was unable to follow up his National Stakes win at the Curragh, losing his unbeaten record back in fourth.

Who is the man behind Yulong Investments?

Zhang Yuesheng, a Chinese entrepreneur and self-made billionaire, has quickly established himself and his operation Yulong as one of the most influential superpowers in global racing and bloodstock.

His bottle green and white silks have become a familiar sight on racecourses across the globe, but none more so than in Australia. Zhang's investment there stretches beyond the track and includes a 3,400-acre stud in the heartland of Victoria's thoroughbred country, which is now home to 11 stallions, including Australia's one-time champion sire Written Tycoon.

Yulong has continued to make headlines in the sales ring throughout the world, including having purchased Pretty Polly Stakes winner Via Sistina for 2.7 million guineas at the Tattersalls December Mares Sale in 2023.

The Fastnet Rock mare has carried Zhang's colours to victory in nine Group 1 races in Australia, with the highlight being her dominant, record-breaking score in last year's Cox Plate at Moonee Valley, a crown she is likely to defend later this month.

Zhang's breeding interests now also include stallions Shaquille and Soldier's Call, who stand at Ace Stud in Newmarket, which was formerly known as Dullingham Park Stud.
Lydia Symonds, bloodstock editor

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