Junior Alvarado, who rode Sovereignty to victory in last weekend's Kentucky Derby, has been fined $62,000 and suspended two racing days for striking the horse more times than is allowed, horse racing authorities said on Saturday.

Kentucky Derby winner Sovereignty is not running in the Preakness Stakes and that means for a fifth time in the past seven years there is no chance of a Triple Crown champion going into the race.

There will be no Triple Crown winner in horse racing this year. Sovereignty, the three-year-old thoroughbred who won the Kentucky Derby on Saturday, will not race in the Preakness Stakes – the second leg of the three races that make up the Triple Crown.