Mining boss is getting out of the horse racing game

EMBATTLED coal mining businessman Nathan Tinkler is getting out of the horse racing game.

Mr Tinkler said in a statement he was selling his Patinack Farm operation because he was "spending more time overseas" and did not have time to manage the business.

"Patinack Farm represents a terrific opportunity for a local or international owner to develop the business to be a world leader," the statement read.

The Patinack Farm operation comprises more than 1000 racehorses, broodmares and stallions. Included in the sale will be Mr Tinkler's Hunter Valley training facility.

Magic Millions and financial services firm Ernst & Young will handle the sale.

It comes just months after reports surfaced Mr Tinkler had tried to offload his horse racing empire to a Qatari sheikh for $200 million.