Calumet Farm, a historic Thoroughbred farm that has produced nine Kentucky Derby winners over the years, has been sold for approximately $36 million to an investment group that says it will continue the legendary farm’s Thoroughbred operations.
Calumet Investment Group plans to lease the 799-acre farm to Brad Kelley, who owns Hurricane Hall, a breeding farm in Lexington, and Bluegrass Hall, which is the racing arm of the farm. A native of Franklin, Ky., who now lives in Nashville, Kelley was the founder of the Commonwealth Brands tobacco company, which he sold for a reported $1 billion in 2001.
Calumet Investment Group bought the farm from the heirs of Henryk de Kwiatkowski, who rescued Calumet from bankruptcy when he purchased it at auction in 1992 for $17 million.
According to a spokesman for the de Kwiatkowski family, the sale includes the farm, barns, improvements, name and possibly silks, but not horses.
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