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ANequine company owned by Ryanair founder Tony Ryan has reported a loss of over 3.2m for 2004. Taylor & Carr Estates, a holding company for Ryan's US breeding centre in Lexington, Kentucky, had assets of almost 27m in 2004 . . . unchanged from the previous year. Those assets represent the firm's investment in US subsidiary Castleton Lyons, which is Ryan's Kentucky spread where he breeds thoroughbred horses.
He acquired the property in 2001 and has spent a fortune on its redevelopment, flying over Irish carpenters to refit barns and building a replica round tower on the 1,000 acre estate. Castleton Lyons reported turnover of 3.4m and net assets of 16.9m in 2003. The directors of Taylor & Carr, Tony and Shane Ryan, have loaned the company 52m, while the company entered an agreement in 2002 to lend Castleton Lyons a maximum of $35m.
The Ryan family, whose fortune from the Ryanair empire is worth over 1bn, are avid horseracing fans. Among their past purchases have been 5.5m for Catchascatchcan.
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YOU ARE HERE: 19 March 2007 / tribune.ie / 2006 / 01 / 08
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