Rich Strike, the 80-1 upset winner of the 2022 Kentucky Derby, is “99 percent” likely to be retired following another injury setback at Saratoga, according to owner Rick Dawson.

In a phone interview with Horse Racing Nation from Oklahoma, Dawson explained, “I’ll have a final decision in 60 days, but as of now, we’re almost certainly moving toward retirement and exploring stallion opportunities for him.”

The injury was discovered after trainer Bill Mott noticed heat in Rich Strike’s left front leg during a training session at Saratoga. A subsequent examination revealed a ligament tear, which is different from the previous injury the horse had sustained.

“It’s in a different location from the earlier injury,” Dawson said. “This time, it’s a tear in another part of the suspensory ligament.”

The 5-year-old son of Keen Ice was sent back to Margaux Farm in Midway, Kentucky, where he was treated last year for proximal suspensory desmitis in both front legs. Margaux Farm is just 10 miles from Dr. Larry Bramlage at Rood & Riddle Equine Hospital in Lexington.

“They’re treating him with prednisolone for two weeks, followed by a reduced dose for another two weeks,” Dawson said. “After that, he’ll rest for 30 days before we take another ultrasound.”

Rich Strike had been undergoing intensive training with hopes of a return to racing, which he hasn’t done in over 15 months. After being out of training for more than a year, he resumed work last month, and Mott had recently breezed him four times, including a half-mile in 50.88 seconds on Saratoga’s Oklahoma dirt training track on August 7.