After Shergar's Epsom Derby win, the Aga Khan sold 40 shares in the horse, valuing it at

£10 million. Retaining six shares, he created an owner's syndicate with the remaining 34
members. Shergar was stolen from the Aga Khan's stud farm by an armed gang on 8 February
1983. Negotiations were conducted with the thieves, but the gang broke off all communication
after four days when the syndicate did not accept as true the proof provided that the horse was
still alive. In 1999 Sean O'Callaghan, a former member of the IRA, published details of the theft
and stated that it was an IRA operation to raise money for arms. He said that very soon after the
theft, Shergar had panicked and damaged his leg, which led to him being killed by the gang. An
investigation by The Sunday Telegraphconcluded that the horse was shot four days after the
theft.
No arrests have ever been made in relation to the theft. Shergar's body has never been
recovered or identified; it is likely that the body was buried near Aughnasheelin,
near Ballinamore, County Leitrim. In honour of Shergar, the Shergar Cup was inaugurated in
1999. His story has been made into two screen dramatisations, several books and two
documentaries.