Fusaichi Pegasus, the 2000 Kentucky Derby-winning horse, has died of complications of old age, his owners said Wednesday. The horse was 26.

Fusaichi Pegasus was euthanized Tuesday at Ashford Stud in Versailles, Kentucky, due to old age diseases, his farm said. The horse was purchased as a yearling for $4 million by Fusao Sekiguchi at the July 1998 Keeneland sale by Hall of Famer Neil Drysdale.

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Jockey Kent Desormeaux crosses the finish line aboard the Fusaichi Pegasus, left, to win the 126th Kentucky Derby ahead of Aptitude, right, and jockey Alex O. Solis on May 6, 2000 in Churchill Downs in Louisville, Kentucky. (MICHELLE WILKINS/AFP via Getty Images)

«Fu Peg was a fantastic racehorse and a colorful character,» Ashford Stud general manager Dermot Ryan said in a press release. «I would like to thank Richard Barry and his entire team, past and present, for providing him with the highest level of care during his time at Ashford.»

Fusaichi Pegasus won the San Felipe Stakes and Wood Memorial before winning the 2000 Kentucky Derby as a 2-1 favorite. It was the first time the favorite had won since 1979. The Kent Desormeaux-ridden horse defeated Aptitude by 1.5 lengths. He finished second in the Preakness.

NATIONAL TREASURE, TRAINED BY BOB BAFFERT, WINS 148TH PREAKNESS STAKES

Fusaichi Pegasus riding

Kentucky Derby winner Fusaichi Pegasus, with rider Andrew Durnin above, works five furlongs at Churchill Downs in Louisville, Kentucky on May 15, 2000. (AP Photo/Garry L. Jones, File)

Fusaichi Pegasus retired with six wins in nine races and earnings of $1,994,4000.

The horse began his stud career in 2001 at Ashmore, with Coolmore paying around $60 million for the rights to his stallions, a record at the time. He sired six world champions and Grae 1 stakes winners such as Bandini, Champ Pegasus, Haradasun and Roman Ruler.

Fusaichi Pegasus in the stable

2000 Kentucky Derby winner and Breeders’ Cup Classic favorite Fusaichi Pegasus sticks out his tongue while eating after morning workouts November 2, 2000 at Churchill Downs in Louisville, Kentucky. (JEFF HAYNES/AFP via Getty Images)

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He performed stud duties in the southern hemisphere which produced Bronzo. His career as a stud ended in 2020.

Associated Press contributed to this report.