CASTLEMARTIN Stud is ‘sale agreed’ and it is widely believed to have been purchased by American billionaire John Malone for €28 million.

Formerly owned by Sir Anthony O’Reilly, the Co Kildare farm on 750 acres was put on the market by AIB to settle a debt of €22 million owed by the businessman to the bank. Just days ago Malone closed a deal to buy Ballylinch Stud in Co Kilkenny and the Castlemartin deal is likely to be completed before December 31st to avail of a tax incentive.

Agents handling the sale of Castlemartin, Paddy Jordan and Knight Frank, have made no official comment on the deal but the property has been removed from the Knight Frank website (having been ‘under offer’ earlier this week) and is described as ‘sale agreed’ by Jordan Town and Country.

Aged 73, Malone made his money in telecommunications and owns cable television company UPC. He has Irish ancestors and is the biggest private landowner in America, holding over two million acres. This includes an 800-acre stud farm in Florida and just last month he bought a Tapit filly foal for a record $3 million. His recent Irish purchases include two Dublin hotels and the 400-acre Humewood Castle in Co Wicklow.