Merchant justifies confidence with thrilling King George V Stakes win. (Megan Coggin)
Royal Ascot Release
ASCOT, Berkshire, England—Merchant (3/1F) produced a strong late run to take the King George V Stakes, providing syndicate Highclere Thoroughbred Racing with a fifth win in the 12-furlong handicap.
Merchant was well fancied off a mark of 90 after winning at York last month, with his trainer William Haggas making an entry for next month’s G1 King George VI And Queen Elizabeth Stakes.
The son of Teofilo finished strongly once switched out by Tom Marquand, wearing down Serious Contender (7/1) to win by a length. Pantile Warrior (40/1) and Nautical Force (25/1) filled the minor places.
Haggas said: “Merchant did well today and is progressive. He likes a trip and doesn’t mind the ground. I need to see it again, but he looked a bit fresh early. I think he’s improving and that’s what every trainer wants, a nice improving three-year-old. Who knows how far he will go, but he is going in the right direction.
“A lot of people don’t understand what trainers go through. Yesterday the horse coughed 10 times at exercise, never coughed before. Then the seeds of doubt come in, the sleepless nights, are we doing the right thing, do I tell Harry [Herbert of Highclere Thoroughbred Racing]? No. Yes, we are doing the right thing, we must run, and the horse is fine. Then going into the saddling box, he slipped just as he was going in. He then held his leg – the left-hind – all through saddling, so we went out and trotted him up twice. He seemed alright, but I said to Tom if you’re not happy with him at the start, take him out. We couldn’t tell anyone, we’ve got 50 people here. It is not all plain sailing, so when they win, it is absolutely fantastic. I am thrilled to bits.
“That is complicated [publicising the above]. No one knows why he coughed, but he did, and when they don’t and they suddenly do, it’s a bit of a nerve-wracking situation. I have been doing it a long time; you take a decision, you stick by it and it’s paid off, so we can now drink another glass of sparkling water! I don’t know whether the punters trust us, but I think the Highclere shareholders, Harry and his management team trust us. We will make a decision for the horse’s benefit.”
Marquand said: “I am very impressed. The one thing I would say is that William was very sure on how he wanted me to ride him – and that was with a lot of confidence. It is very easy to do that when you know you have a good horse under you, which we know with this chap. He is improving and has a great mind. Albeit we were back, we had a very smooth passage and William was so right in riding him in that way.
“The King George is a big step up, but he is on that trajectory and the one thing I was very confident in today was his mind. He went down to the start like he was at Chepstow on a Monday, which at Royal Ascot is such a big asset.
“I love riding Royal Ascot winners for anybody but, when they are for the team that support you the whole year round, it means a lot because everybody puts in so much at home.”
Harry Herbert of Highclere Thoroughbred Racing said: “William has always said that Merchant is a very good horse. He hasn’t been given an entry in the King George VI and Queen Elizabeth Stakes lightly, but that might just be froth.
MERCHANT takes the King George V Stakes for @TomMarquand and trainer @WilliamHaggas. Congratulations to connections. pic.twitter.com/5CcXFLkYB5
— Ascot Racecourse (@Ascot) June 19, 2025
“That was a very good performance, though. He has come from a long way back and won very convincingly. This is our fifth King George V Stakes win. He fits the profile of other horses we’ve had in the race who have gone on. The normal route might be a Gordon Stakes, a Great Voltigeur Stakes, who knows, maybe a St Leger.
“Merchant has such a good pedigree, bred by Jim Bolger. Jake Warren bought him at Goffs, and we were so excited, hugging and kissing. My phone was ringing and ringing, and I thought, ‘Aargh, who’s that?’ It was William who said, ‘I have just seen you’ve bought that horse. I have never asked before in 33 years, please can I train him?’ And here we are, at Royal Ascot – it’s very special.
“His 8lb rise from York is a hike, but I think William knows when he’s got a good one on his hands. I haven’t heard him this positive as he is about this horse, and we have had some good ones with him, so let’s hope he goes on.”Aidan O’Brien said of the runner-up: “Serious Contender is a lovely horse, and I am very happy with the way he ran. There will be more to come from him.”
