• Associated Press

Nov 16, 2023, 08:19 PM ET

LEXINGTON, Ky. — Rich Strike, upset winner of the 2022 Kentucky Derby, won’t be on the sales block at Keeneland on Friday.

Owner Rick Dawson posted on social media that he has revised his plan for the 4-year-old colt.

“At this time, Rich Strike will continue his stay and light exercise at Margaux Farm. … I will make further announcements at such time it is deemed to be appropriate,” he wrote.

Dawson had announced last week that Rich Strike was being retired and entered into the Keeneland sale. Earlier this month, he had said the colt would be joining Hall of Fame trainer Bill Mott at his winter training base in Florida, but then backtracked on those plans citing “nagging injuries.”

Rich Strike hasn’t raced since finishing fifth in the Alysheba on May 5 at Churchill Downs, his first start in more than five months. The following week, Eric Reed resigned as the colt’s trainer due to differences with Dawson over media deals to document their story and image rights.

The 4-year-old was subsequently moved to Margaux Farm in Midway, Kentucky, where he had been in light training this summer and fall.

Rich Strike won the Derby at 80-1 odds, the second-biggest upset in the race’s history. He paid $163.60 for a $2 win bet.

Rich Strike lost his next six races after the Derby, finishing sixth in the Belmont Stakes, fourth in the Travers and the Breeders’ Cup Classic, and sixth in the Clark Stakes. He made just one start this year, finishing fifth in the Alysheba Stakes in what would be his final race.

Rich Strike has two wins in 14 career starts and earnings of $2,526,809.