Hot Springs, AR (My Sportsbook) - Former leading three-year-old Old Fashioned suffered a fractured knee Saturday during the running of the $1 million Arkansas Derby at Oaklawn Park. Papa Clem defeated Old Fashioned, who was the even-money favorite in the 10-horse field.

Trainer Larry Jones said Old Fashioned suffered a displaced slab fracture of the right knee. The injury can be career ending, but is not life-threatening.

"He's going back with our horses to Kentucky," Jones said, "and we'll look to having him surgically treated once we get there. Horses with that kind of injury sometimes come back, but rarely at the level at which he competed."

Old Fashioned, owned by Fox Hill Farm, began 2009 atop the list of Kentucky Derby contenders and solidified his ranking by winning the Southwest Stakes at Oaklawn Park.

However, he lost the Rebel Stakes to Win Willy after having the lead at the top of the stretch. Saturday's loss to Papa Clem came after the favorite set the pace to the stretch in the 1 1/8 mile race.

Jones has another Kentucky Derby contender in Louisiana Derby champ Friesan Fire. The colt is co-owned by Fox Hill Farm.