David J. Lanzman Racing Stable filed a lawsuit Thursday in Fayette County (Ky.) Circuit Court against Long Island-based IEAH Stables, which bought 50 percent of I Want Revenge five days before he won the Wood Memorial April 4 at Aqueduct. The suit alleges IEAH violated the contract by subsequently selling more than 10 percent of its share without notifying Lanzman, and that IEAH has not provided him documents about the sale.
"This isn't really a suit, it's about paperwork we haven't given him," IEAH co-president Michael Iavarone said. "He's looking for paperwork about half of a percentage point. It's really a joke, and it's not about money. We're talking maybe $20,000."
I Want Revenge, the Kentucky Derby morning-line favorite, was scratched with an ankle injury the day of the race. The Derby program listed his owners as Lanzman, IEAH, Puglisi Racing, Charles Winner, Michael Dubb and Steven Marshall.
"The reason I haven't given him the paperwork is because I'm not really happy with the way information about the horse's injury has been disseminated to us,'' Iavarone said.
The suit says IEAH paid the California-based Lanzman $3.175 million for 50 percent of I Want Revenge. IEAH also gave him $1.75 million in cash and leased him 25 percent of Stardom Bound, last year's 2-year-old champion filly. Lanzman was guaranteed a $1-million bonus if I Want Revenge won the Wood, which Iavarone said IEAH had paid. Lanzman would have earned another $1-million bonus for a Derby win.
I Want Revenge is recuperating in Kentucky, and it is not known when or if he will be able to race again.
Because the lawsuit was filed in Kentucky, it was not made available to Newsday.