The Olympic team gold medal winning horse Uthopia is to be sold at public auction on 27 May. There will be no reserve price set.

The news follows many months of speculation and uncertainty surrounding the ownership of the black stallion by Metall, who won team gold under Carl Hester at the London Olympics.

The sale will take place via Wilsons Auctions. Online bidding will be available and further details will be released in due course. The stallion will remain where he is currently stabled until the sale has been concluded.

Uthopia is being sold by Tom Keenan (Keenan Corporate Finance) and James Neill (HNH Group) who hold joint ownership of the horse by virtue of their respective roles as trustee in bankruptcy over two separate bankruptcy estates — Sasha Stewart and her father Derek Harrison.

Alongside Uthopia, the auction will also include a selection of supercars, prestige jewellery, watches designer goods and more.

Richard Davison, who rode at the London Olympics as an individual in 2012 on the squad with Carl and Uthopia, has voiced major concerns over the sale.

“Not only is this a degrading way to sell a horse of this caliber, but I’m really worried for his welfare,” Richard told Horse & Hound.

“This horse has received ongoing veterinary care over the past four years and regular therapy from Carl’s home team.

“Without that care and knowledge, I am worried about Uthopia’s welfare.

“I’m told the latest findings are that he needs another year off and, if that is the case, then in my view it is time to retire this horse.  There is only one home he should retire to: Carl’s.”

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In a statement the auctioneers said: “Wilsons Auctions take the welfare of Uthopia very seriously. We recognise the importance of maintaining the level of expert care and attention that the horse has previously enjoyed.

“Uthopia will reside at his current stable yard and be cared for by the same people, throughout this process.

“It is of course possible that he may continue to reside at his current stable yard after the sale has concluded, dependant of course on the identity and intentions of the purchaser.

“We welcome bids from any interested party and it is our wish that the eventual purchaser enjoys owning the horse for many years to come.”

Fifteen-year-old Uthopia has been registered with the FEI as belonging to Carl and Sasha Stewart since September 2011. Before then he was registered solely to Carl, with his first and only other registered owners being Sasha and her father Derek Harrison, from January 2009 to April 2010.