Multiple Grade 1 winner Premium Tap has been sold to Saudi Arabian interests for an undisclosed amount.

The four-year-old Pleasant Tap colt will remain in the care of trainer John Kimmel to prepare for the $6-million Dubai World Cup (UAE-G1) on March 31 at Nad al Sheba racecourse.

Tony Cobitz, the bloodstock agent who brokered the deal, declined to reveal the new owner's identity. 

"The World Cup is certainly the near-term goal, and at this point, there is every reason to believe that if everything goes, Premium Tap will be returned to the United States for a campaign in the latter portion of 2007," Cobitz said.

Kimmel purchased Premium Tap for $60,000 from the consignment of Solitary Oak, agent, in the 2004 Ocala Breeders' Sale Co.'s March two-year-olds in training sale.

After Kimmel approached George Kline about buying Premium Tap, Kline formed a partnership with two friends and business acquaintances, Peter Alevizos and David Whelihan. Premium Tap is the first and only horse they have jointly owned.

Kline got involved in racing in 2001 after handling a mortgage for Kimmel.

"They're just regular guys and they really couldn't afford to not take advantage of this, with this horse's past performances and his value," Kimmel said. "It's very hard to let him go, but sometimes it's a life-changer. In that kind of situation, it makes sense."

Kimmel said Premium Tap is approaching his first workout since his victory in the Clark Handicap presented by Norton Healthcare (G1) on November 24 at Churchill Downs. He may make his next start in the Donn Handicap (G1) on February 3 at Gulfstream Park.