SI Vault
March 15, 1999
Holyfield-LewisReal Deal Meets New Deal
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March 15, 1999


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"I saw you sitting on that couch, and I'd love to have joined you there," said the smiling President.

"Anytime, Mr. President," she said, "anytime."

A Destroyed Champion
Alydar Avenged?

Nothing symbolizes the despoiling of Calumet Farm, once horse racing's preeminent breeding operation, better than the mysterious death of Alydar, the most famous runner-up in Triple Crown history and, later, racing's greatest sire (SI, Nov. 16, 1992). In April 1991, less than six months after Alydar was destroyed because of a broken right hind leg—purportedly suffered when he kicked his stall door—Calumet buckled under a debt of more than $167 million, and its president, J.T. Lundy, resigned in disgrace.

Lundy, 58, may soon face questions in court regarding the death of Alydar, runner-up to Affirmed in all three 1978 Triple Crown races. Along with Gary Mathews, Calumet's former chief financial officer, Lundy was arrested last week for conspiracy, bank fraud and bank bribery. In December a federal grand jury in Houston had indicted Lundy and Mathews for paying an official of Houston's First City Ban-corporation $1.1 million to secure a $50 million loan. A $15 million payment on that loan was due on February 28, 1991, according to Wild Ride, a book by Ann Hagedorn Auerbach on the fall of Calumet. Suspicions that the horse was killed for insurance money have been fueled by the fact that soon after collecting $36.5 million in life insurance on Alydar, Calumet made a $20.5 million payment to First City. "The return of another indictment is possible," says Julia Hyman of the U.S. attorney's office in Houston. Lundy was unavailable for comment, but his lawyer, Joseph Buchanan, says he expects his client to plead not guilty.

December's indictments are part of a continuing federal investigation into relations between First City and Calumet Farm and the circumstances of Alydar's death. Former Calumet groom Alton Stone was convicted last year of lying to a federal grand jury about his activities on the night that Alydar's leg was shattered. With Lundy in custody, the feds might soon be able to pin down once and for all who or what killed the sport's most famous second-place finisher.

Navy vs. Kubiak
Quarterback Sneak

Duty, honor and loyalty are prized at the U.S. Naval Academy, but those qualities apparently aren't atop the list of Lieut. (J.G.) Jim Kubiak, a former Navy quarterback. He's fighting in court to escape the last 17 months of his five-year military commitment so that he can play football.

After graduating from Annapolis in 1995 as the Midshipmen's most prolific passer ever, Kubiak served on the aircraft carrier USS Eisenhower. In January 1998 he filed a voluntary resignation request, which the Navy denied. Undeterred, Kubiak signed with the Indianapolis Colts. He then asked the Navy to reconsider his request—this time promising to return to duty if he failed to make the Colts' roster. On March 4, 1998, Secretary of the Navy John Dalton released him under those conditions.

Kubiak played sparingly in the preseason, and Indianapolis cut him before the season opener. In November he was recalled to active duty, effective Dec. 28. Kubiak and the Colts asked the Navy to reconsider, but on Dec. 14 Richard Danzig, Dalton's successor, upheld Kubiak's recall. The Navy claims Kubiak spent the next month ducking its attempts to serve him with his orders.

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