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Kentucky Calumet Farm Sold To Trust
Also in Kentucky, Kennelot Stables (operated by the de Kwiatkowski Trust) announced it has sold "historic Calumet Farm & all of its improvements to the Calumet Investment Group Trust" reported bloodhorse.com. The trustee for the buyer also announced "the farm will be leased to central Kentucky thoroughbred operations Hurricane Hall & Bluegrass Hall, which are owned by billionaire businessman Brad Kelley". About 280 horses are currently on the farm. Kelley, 54, founded Commonwealth Tobacco (a discount cigarette company) in 1990. He sold the business for US$1 billion in 2001 & "since has acquired more than a million acres of property in Florida, New York & Texas". Kelley "has been active at thoroughbred auctions & owns roughly 60 broodmares". Calumet "perhaps the most recognised property in central Kentucky, sits on more than 700 acres along Versailles Road near Keeneland. It has a long history of producing top horses, but fell into bankruptcy in the early 1990s. The late Henryk de Kwiatkowski purchased the farm at auction in 1992 & restored the property."