Colt’s breeding rights sold

NEWYORK — The owner of Triple Crown hopeful American Pharoah sold the breeding rights to his Kentucky Derby and Preakness winner to Coolmore Ashford Stud in Kentucky.

Owner Ahmed Zayat said Wednesday the deal was reached in the past day or two, but he would not disclose the value.

Even before the announcement, Zayat’s son, Justin, said the family had been inundated with offers, many for more than $20 million.

Zayat said if American Pharoah wins the Belmont Stakes on June 6 and becomes the first Triple Crown winner since Affirmed in 1978, he plans to keep racing the colt through the end of the year.