Colombo, a large, powerful, lop-eared horse with a "raking, effortless stride"[1] was bred by the shipping magnate Sir Alec Black.
Colombo was sired by Manna, the winner of the 2000 Guineas and the Epsom Derby, out of Lady Nairne, a mare who was also bought by Glanely at another one of Black's dispersal sales.
[6] The horse who would become known as Colombo began his racing career as an unnamed "Colt by Manna-Lady Nairne" at Newmarket in April, winning the Spring Stakes by a head from the future 1000 Guineas winner Campanula.
Ridden by the ten-times Champion Jockey Steve Donoghue, Colombo went to the front after a furlong and was never in any danger of defeat, beating Medieval Knight by three lengths and proving himself "vastly superior" to the opposition.
[8] On his final start of the year he ran in the Imperial Produce Stakes at Kempton which he won in course record time by a short head from Valerius, to whom he was conceding seventeen pounds.
[16] On his three-year-old debut at Newmarket on 19 April, Colombo was ridden by Johnstone for the first time in public and successfully moved up to one mile by winning the Craven Stakes "in a canter"[17] by four lengths from the Aga Khan's colt Osman Pasha, who was carrying twenty pounds less than the winner.
Approaching the straight, Johnstone found himself boxed in against the rails, and was then forced to drop back when the horse in front of him (Medieval Knight, ridden by Steve Donoghue) weakened.
[23] Other observers however, felt that Johnstone had given the colt every chance to win in the straight, and that his defeat was attributable to lack of stamina, which had left him unable to use his speed in the closing stages.
He started favourite at odds of 1/5, but failed to catch the front-running Flamenco and was beaten by half a length in what was described as "a catastrophe for the backers",[25] who had wagered on the colt as if defeat were out of the question.