Kentucky Derby and Preakness Stakes winner Smarty Jones will stand stud in Kentucky at Three Chimneys Farm, home of the late, great Seattle Slew, owners Roy and Pat Chapman announced yesterday.

While Smarty Jones will continue racing this year, and possibly next as a 4-year-old, the Chapmans have completed plans for his breeding career, keeping 50 percent interest in the horse and allowing Three Chimneys to syndicate the other half.

Terms of the deal were not disclosed.

"They are used to having the public visit their horses like Seattle Slew, Silver Charm and Point Given," said Pat Chapman, giving a reason for going with Three Chimneys. "They believe in limiting a stallion's book of mares, and they are experienced in standing an important horse and making him a success as a sire."

Said Roy Chapman, "In no way does this signal Smarty's retirement."

Smarty Jones, who missed winning the Triple Crown by a length in the Belmont Stakes on June 5, is expected to return to racing Aug. 8 in the $1 million Haskell Invitational for 3-year-olds at Monmouth Park in New Jersey.

The colt has won eight of nine career starts and earned more than $7.6 million.

-- John Scheinman