A BRITISH racehorse has become the first in history to be valued at 100million, an estimate which is considered 'conservative. Frankel, a three-year-old bay colt, has won all eight of his flat races and is the hot favourite for the Queen Elizabeth II Stakes at Ascot next weekend. Frankel, who is kept at Warren Place Stables in Newmarket, Cambridgeshire, has already earned his owner 805,000 in prize money and will bank close to 1million if he triumphs at Ascot. The extraordinary valuation is only partly down to his success on the track. Frankels worth also reflects the 100,000 'covering - the price charged for him to mate with a mare - that the horse will be able to command when he is put out to stud. Currently the most expensive stud fee is between 70,000 - 80,000, charged by the owners of racing legend See The Stars. Frankel, who can gallop at up to 40mph, has been dubbed the 'Usain Bolt of the horse racing world. MOL The horse is owned by Saudi Prince Khalid Abdullah. Security around the animal is so tight his trainer, the highly respected Sir Henry Cecil, sleeps next to a video screen which streams live footage of Frankel in his box. The valuation was calculated by McKeever Bloodstock, one of Britains biggest bloodstock agencies. Johnny McKeever, who runs the company, said: 'Given the value of stallions now it is not at all unreasonable to put this kind of price - or even a higher one - on Frankel. Nick Attenborough, a spokesman for horse racing industry body Racing For Change, agreed the estimate could be slightly modest. He said: 'At 100k a time and with him able to cover up to 120 mares in one breeding season it would only take him eight years to earn his owner 100million, provided his offspring prove as good as he is. 'Frankel is the perfect racehorse, he is very big and extremely powerful. When he gallops very few horses can keep up with him and he has incredible stamina. MOL