The world's most expensive thoroughbred racehorse named Fusaichi Pegasus or better known to his fans as Fu Peg has sadly passed away at the age of 26.

Pegasus's owner in a statement on his website announced the demise of the beloved horse through his social media page revealing that they had had to euthanize the gorse due to its old age.

The magnificent Kentucky Derby-winning horse is best known for being the most expensive horse ever sold.

Fusaichi Pegasus made history back in 2000 when he was sold to breeding giants Coolmore for a reported $70 million which translates to a staggering sh9 billion, making him the most expensive horse ever sold.

Fu Peg became famous after he was the subject of a ferocious bidding war that saw sport's billionaires battle it out for his lucrative breeding rights.

Former Manchester United owner John Magnier submitted the winning bid.

The prized racehorse, nicknamed Fu Peg, was insanely loved around the world by fans and horse racing fanatics.

He'd won a total of 6 out of his 9 starts through his career. His ability to shatter records at flying speed saw it being honored with a gold statue replicating its build which was erected in Japan.

The horse's sleek, dark bay coat, powerful stature, and graceful stride earned the valuable horse countless admirers.

"It is with great sadness that we announce the death of Kentucky Derby winner Fusaichi Pegasus who was euthanized at Ashford Stud yesterday due to the infirmities of old age," said Ashford Stud's general manager Dermot Ryan.

He went on to add,"I would like to thank Richard Barry and all of his team, past and present, for providing the highest level of care for him throughout his time at Ashford."

Fu Peg's remarkable racing career included a victory in the prestigious Kentucky Derby, where he showcased his unparalleled speed and endurance.

Racing in the US, he won two Group 2 contests before taking the country's biggest race in the millennium year.

As a yearling Fu Peg fetched $4m when he was bought by Japanese businessman Fusao Sekiguchi. His owner combined his own name with ‘ichi’, Japanese for number one, and the winged horse from Greek mythology to create the colt’s name.

And he lived up to it by landing the Kentucky Derby in 2000, becoming the first favourite to win the historic race for 21 years. He also went on to sire six champions worldwide.

Fusao Sekiguchi,made a fortune after selling him as he had bought the horse for sh478 million. Upon selling the lightning-fast horse he raked in incredibly huge profits.

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