The Tennessee Walking Horse National Celebration board of directors on Thursday afternoon voted to suspend Mike Walden from participating as an exhibitor or as an owner for a period of two years.

The suspension was over Mr. Walden's acknowledged offer last Saturday at the World Championships at Shelbyville, Tn., to pay each of the three approved entries for the World Grand Championship class $10,000.

The board said, "While Mr. Walden’s motives may have been congruent with a published statement he made after the fact, the perception of his actions was not in the best interest of The Celebration or the Tennessee Walking Horse industry."

Five of the eight horses in the competition, including Mr. Walden's, were disqualified on suspicion their animals may have been harmed to exxagerate a high gait.

Mr. Walden made the offer to the three trainers who were not disqualified. None of the trainers accepted the offer. The competition was called off, though the three had been willing to proceed.

Mr. Walden, who owns Walden Security in Chattanooga and is a member of the Hamilton County Election Commission, told the Tennesseean newspaper he made the offer "as an innocent gesture of good will."

The board met via conference call on Thursday afternoon "to specifically look at two issues stemming from last Saturday night’s World Grand Championship class."

The board said Mr. Walden also will not be allowed to participate in The Celebration’s corporate sponsorship program during the two-year period.

The board said, "The second issue involves the World Grand Championship class itself. The Celebration stands by the information it received on Saturday night and feels the correct call was made with the best information available at the time. Since that time, the three eligible trainers have made statements that they were ready and willing to show. While the moment and exact circumstances can never be recaptured and the class cannot be held, the Celebration board has voted to award each of the three eligible entries for the class first-place prize money of $15,000 each."

“These issues have been at the forefront since Saturday night,” said Celebration Chairman John T Bobo. “While our overall evaluation of the show will continue, the board felt these two issues should be dealt with in a clear, decisive manner.”

Mr. Walden's stallion, Private Charter, was a favorite to win the Tennessee Walking Horse championship.

Mr. Walden lives on Lookout Mountain and has a farm north of Ooltewah.

One of the horse owners, Curtice McCloy, of Norman, Okla., told the Tennessean, "I think if somebody offers you $10,000 not to show … in my book, that's kind of a bribe."

The newspaper said Mr. Walden apologized publicly for the offer of money in an e-mail message posted on the The Walking Horse Report.

He said he was sorry his actions caused embarrassment for the industry and the world championship event.

A 1970 law bans "soring" - injuring a horse's front legs to make it step higher.

A post on The Walking Horse Report said Mr. Walden had been set to carry the banner for the Tennessee Walking Horse at the UT Homecoming game this year in front of 105,000 people.

Another said Private Charter has won 21 blue ribbons.