Australian billionaire sells top polo ponies

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Some of polo’s top ponies have changed hands after Australian billionaire James Packer, whose Ellerston team won the Vivari Queen’s Cup last year, decided not to return to England for the 2009 high-goal season.

An Australian press report says James Packer — son of the late Kerry Packer — has sold 40 of his best mounts for about Aus$5million (£2.25m) — an average of £56,000 a head.