This chapter centres on Peter Burrell, the National Stud’s third manager, and the settlement that was reached between the British and Irish governments regarding the Stud’s ownership in 1944. The author emphasises the influence of Aga Khan III, who inadvertently helped to redirect both governments’ attention to the future of the National Stud as he sought the favour of the British government, hoping that they would purchase his stud farms in Ireland. Moreover, the esteemed pedigree of elite thoroughbreds due for retirement to stud duties at the National Stud compelled the British government to retain legal ownership of these thoroughbreds while relinquishing their legal rights to the land at the National Stud in Ireland, instead planning to establish a new British National Stud in Britain. Given the prolonged nature of the situation, the Irish government surrendered their rights to the thoroughbreds and commenced plans to create a new Irish National Stud.