I'll Have Another's bid for a Triple Crown ended with the shocking news that the colt was out of the Belmont Stakes due to a swollen left front tendon.
According to Dennis O'Neill, brother of trainer Doug O'Neill, the horse galloped Friday morning and after a veterinary scan, the tendon seemed "kind of tender."
O'Neill told The Associated Press that, "the horse is sound and happy, but it's not worth it."
The New York Times reports the colt's trainer has scheduled a 1 p.m. ET news conference.
MSNBC reports O'Neill first made the announcement on the Dan Patrick Show. "It's not tragic, but it's a huge disappointment."
According to SI.com O'Neill was also asked if I'll Have Another's racing career is finished. "If I had to wager…yes," he said.
The wptv.com web team contributed to this report