More on Moodley – the racehorse owner who loves his name

Got some interesting feedback on yesterday's newsletter about one of Jacob Zuma's paymasters, the recently very rich "KZN businessman" Roy Moodley. So I asked my pal, SA horseracing's doyen and Sporting Post publisher Karel Miedema, for some info on the thoroughbreds he owns.

From the official data, Mr M currently has at least 100 horses in training, most of them renamed to Roy's this or that (including Roy's Saint – seriously). At a conservative R100k each for training, vet and insurance costs, Moodley's string sets him back more than R10m a year. A poor investment considering the net R3m recouped in stakes last season.

Add his capital cost of R8m a year (split between local and Australian purchases) and a rough calculation shows Moodley's hobby requires funding of at least R15m a year. As this is a habit he has indulged for some years, it shows that having powerful politicians on the payroll generates good returns for those able to turn such influence into cash.

But is Moodley's a sustainable business? Guess we'll have to wait for December's ANC elective conference for the answer.