Late Owner Gifted Racehorse to Lexington Family

Matt Kiernan bequeathed his racehorse to young Logan Shehan to preserve a legacy.

Updated on Oct. 7, 2026 in Equestrian

Late Owner Gifted Racehorse to Lexington Family

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Before passing away in April 2026, Matt Kiernan gifted his horse The Phantom to the Shehan family. The family now directs the racehorse's earnings toward the college fund of nine-year-old Logan Shehan.

Why it matters

Kiernan made the decision as his health waned to ensure his horses would not be sold. The arrangement now provides a long-term financial benefit for young Logan Shehan.

The Phantom has secured six career wins, earning $8,223 since April 2026. The horse earned $35,000 in 2025.

The players

Matt Kiernan

A horse owner who managed his racing legacy until his passing in April 2026.

The Phantom

A racehorse that has recorded six career wins in 64 starts.

Logan Shehan

A nine-year-old student who is the primary beneficiary of the horse's race earnings.

The details

Matt Kiernan bought The Phantom for $13,000 as a yearling in 2022. The horse, which won a race at The Red Mile in September 2026, is scheduled to compete from post 10 in the 12th race on October 8, 2026.

The Phantom was purchased as a yearling in 2022.
Matt Kiernan passed away in April 2026.
The Phantom won a race at The Red Mile in September 2026.
The Phantom is set to race on October 8, 2026.

The Big Picture

This story follows a pattern of legacy planning among horse owners at The Red Mile racing circuit standards. It illustrates how private owners utilize regional racing assets to provide for the next generation.

The Phantom is scheduled to start from the 10-hole in the 12th race at The Red Mile on October 8, 2026. The horse's performance directly affects the growth of the college fund established for Logan Shehan.

The takeaway

Legacy planning through racehorse ownership can offer a unique path for funding educational expenses. Owners often seek to keep horses within trusted circles to prevent future sales.