King Charles has sold one of his Royal Ascot horses in a deal that could be worth “millions”.Point Of Law, the Group 3-winning colt owned by King Charles and Queen Camilla, has been sold to leading Australian trainer Ciaron Maher and a syndicate of co-owners in a major move for Australian racing.The horse has already departed the Gosden stable in Newmarket and been transferred to fellow Newmarket trainer Harry Eustace, who will prepare him for the long journey to Australia.Mr Maher, a Melbourne Cup-winning handler, travelled to both Ascot and Newmarket to watch the horse race in person before securing the deal.Royal racing advisor John Warren confirmed the sale to online horse racing outlet The Straight: “I’m sure Their Majesties will derive great pleasure following Point of Law’s continued career in Australia.”He added: “Like all owner-breeders, the majority of their colts eventually do get sold on and The King and Queen will be wishing Ciaron Maher and the new owners the best of luck for an exciting future ahead.”The three-year-old bay colt won the Group 3 Bahrain Trophy at Newmarket this year.His Majesty The King struggled to contain his emotions at Royal Ascot this afternoon | PAGiven the fact he has already earned more than £130,000 in winnings, many expect the deal could be “in the millions”.Will Bourne, Mr Maher’s head of bloodstock, expressed considerable enthusiasm about the acquisition, highlighting the colt’s untapped potential.”One of the main reasons he was so appealing for the stable to acquire is that he’s so lightly raced and still very progressive,” Mr Bourne said.Point of Law, the three-year-old bay colt, won the Group 3 Bahrain Trophy at Newmarket this year (pictured) | GETTY”With horses like him, you never quite know where the ceiling is or when they’ll stop improving and reach their peak rating.”Mr Bourne acknowledged securing high-calibre European horses had become increasingly expensive, with costs going “through the roof” amid what he described as “fierce” competition between rival buyers.King Charles and Queen Camilla have maintained a keen interest in racing, continuing a tradition cherished by the late Queen Elizabeth II.The monarch and his wife have been ever-present at Royal Ascot – although it has not brought them any luck on the track.After coming despairingly close this year, the couple are now without an Ascot win since 2023, when Desert Hero triumphed – their sole victory at the prestigious fixture.That particular win was pretty special.The thoroughbred had been inherited from his late mother a year before, and the rank outsider’s victory left King Charles visibly moved by his sensational victory.Poignantly, that victory came in the first Royal Ascot since Queen Elizabeth II’s death.