The Kerry owners of Cheltenham Festival hope 'Stumptown', have released a statement, distancing themselves from the Tralee businessman charged in connection with a major drugs shipment investigation.
The statement released by The Furze Bush Syndicate, says Nathan McDonnell is no longer a shareholder of Stumptown, and has been removed from the syndicate.
He was previously a ten per cent shareholder.
It also states that he was not an owner of the horse, at the time it was entered to the Ultima Handicapp Chase at Cheltenham, and that no prize money were ever re-distributed to shareholders.
Nathan McDonnell with an address at Ballyroe, Tralee, is currently in custody in Portlaoise Prison and is due to appear via video link at Tralee District Court on March 13th
