The horse racing world is abuzz with the breaking news that Kentucky Derby and Preakness winner I'll Have Another has been scratched from Saturday's Belmont, the third and final leg of thoroughbred racing's Triple Crown.

During a press conference Friday afternoon, I'll Have Another's trainer Doug O'Neill and owner J. Paul Reddam announced the colt has been retired due to swelling in his front left tendon, which is the start of tendonitis.

"It's very disappointing news obviously, but the connections of I'll Have Another are to be commended for placing their horse's best interests first and foremost. The health and safety of the thoroughbred must always be the paramount consideration regardless of any other circumstances," said Alex Waldrop, President and CEO of the National Thoroughbred Racing Association, in a statement on Friday.

As a ceremonial tribute, I'll Have Another will lead the post parade for the Belmont Stakes with jockey Mario Gutierrez aboard.

(With files from NYRA)