The news follows many months of speculation and uncertainty surrounding the ownership of the black stallion by Metall, who won team gold under Carl Hester at the London Olympics.
The sale will take place via Wilsons Auctions. Online bidding will be available and further details will be released in due course.
Uthopia is being sold by Tom Keenan (Keenan Corporate Finance) and James Neill (HNH Group) who hold joint ownership of the horse by virtue of their respective roles as trustee in bankruptcy over two separate bankruptcy estates — Sasha Stewart and her father Derek Harrison.
Alongside Uthopia, the auction will also include a selection of supercars, prestige jewellery, watches designer goods and more.
Richard Davison, who rode at the London Olympics as an individual in 2012 on the squad with Carl and Uthopia, has voiced major concerns over the sale.
“Not only is this a degrading way to sell a horse of this caliber, but I’m really worried for his welfare,” Richard told Horse & Hound.
Fifteen-year-old Uthopia has been registered with the FEI as belonging to Carl and Sasha Stewart since September 2011. Before then he was registered solely to Carl, with his first and only other registered owners being Sasha and her father Derek Harrison, from January 2009 to April 2010.