Shergar's fate still a mystery 20 years on

A former IRA gunman-turned-informer confessed a few years ago that the IRA was behind the bungled kidnapping but that is only one of the more plausible among a dozen or so conspiracy theories.

Back then, security at Ballymany was lax. Few stud farms bothered with surveillance cameras and high fences. "It was a very unusual thing to happen - it was only the second ever racehorse to be kidnapped," said Stan Cosgrove, Shergar’s vet who was also a member of the syndicate that owned the horse after it retired.

Two years earlier, Shergar had been hailed a "wonder horse" after galloping home to victory in the 1981 Epsom Derby by ten lengths, the greatest winning margin in the race’s history.

When he retired later that year, Shergar had won six races and collected 436,000 in prize money, as well as endearing himself to millions of fans.

Walter Swinburn, who partnered the colt in his stunning Epsom triumph, said: "To this day I am probably more remembered for riding Shergar than anything else.

"If I go back to Ireland there is hardly a week goes by without someone asking me about him."

On February 8 1983, armed men burst in and stole the Aga Khan’s prized possession.

James Fitzgerald, the head stud groom, was forced at gunpoint to identify Shergar and help load him on to a double horse box. Although Fitzgerald was reluctant to talk about his ordeal a close relative said the kidnappers singled him out "because the horse was familiar with his smell and they thought it would relax him."

Fitzgerald was later handed the ransom demand of 2million for the safe return of the racehorse. Having been retired to stud with a syndicated value of 10million, Shergar’s owners refused to give into the ransom demands for fear of setting a precedent.

Cosgrove’s theory is that the kidnappers made the mistake of thinking the Aga Khan was the sole owner and would be only too willing to hand over millions for the safe return of his champion horse.

"They got their sums wrong - there were 34 owners in the syndicate and we were never going to pay up," he said.

Cosgrove says the odds are that Shergar was killed within a very short time of being taken.

"I think the thieves weren’t able to handle him so they put him down within a couple of days," he said.

Although the IRA has never admitted responsibility, Shergar was taken at the height of its military campaign against British rule when it was desperate for funds to buy arms.

Shergar’s kidnapping was one of the great mysteries of the 1980s. Reports had him racing in Libya with Colonel Gaddafi, taken by gunrunners to Marseille and even with the Mafia.

More recently, scientists examined a skull containing two bullet holes, which had been discovered wrapped in cloth on a footpath a few hours’ drive from Ballymany.

However, the skull was found to belong to a much younger horse.

Shergar’s legacy lives on elsewhere after a race day was launched in his name at Goodwood in 1999 which has now switched to Ascot.

It pits the best European jockeys against those from the rest of the world - a fitting tribute to racing’s great ambassador.