Harvey now sole owner of Magic Millions

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.