Business Insider Edition

This Saturday Markus Jooste could share in a R25 million win at one of the world’s great horse races – but Investec’s Bernard Kantor has a better bet

Phillip de Wet , Business Insider SA
 May 31, 2018, 12:02 PM
A winning ride by Ryan Moore on Rostropovich, part-owned by Markus Jooste, a tthe Chester Racecourse on 10 May. (Conor Molloy/Action Plus via Getty Images)
  • The main race at the Investec-sponsored Epsom Derby in England this weekend carries a prize of £1.5 million, or some R25 million.
  • Both Markus Jooste of Steinhoff infamy and Bernard Kantor, from name sponsor Investec, have horses in the race.
  • The odds are in Kantor's favour – but the race is famous for upset victories.

Embattled former Steinhoff CEO Markus Jooste could land part of a prize worth R25 million on Saturday if a horse he part owns, Rostropovich, beats the odds in the Investec Derby at Epsom Downs in England.

But betting suggests Jooste is much less likely to share in the winnings than Bernard Kantor, the managing director of Investec, main sponsor of the race.

Kantor's horse Young Rascal was at 10/1 odds for the race on Thursday, while Rostropovich was at 50/1.

Jooste and Kantor had a close and personal relationship, at least before the former disappeared from public view after admitting to irregularities in the Steinhoff books.

Both their horses are likely to lose to Saxon Warrior, already declared by some as the certain winner. But the race is notorious for unexpected results. It has not had an odds-on winner since 2012, and last year Wings of Eagles won at 40/1 odds.

In 2017 Steinhoff subsidiary Poundland was the controversial name sponsor of what had been Epsom Hill, a favourite vantage point for the famous race. But it's name will not feature again this year; with the scandal surrounding Steinhoff there had been a mutual agreement to drop the name, the British Jockey Club said in April

Jooste started selling some of his horse in South Africa in December, but remains a co-owner of Rostropovich alongside racing and business heavyweights John Magnier, Michael Tabor, and Derrick Smith.

The weekend racing festival drew 150,000 visitors in 2017.

Watch: Wings of Eagles takes an unlikely win at the 2017 Derby

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