Frankel, the world’s greatest racehorse, has lived up to his billing as the most valuable commodity in breeding history after siring his first foal.

Despite his unproven libido, breeders from across the world lined up to meet his £125,000 stud demands when it was revealed the Newmarket-born wonder horse was retiring in October 2012 following an unbeaten and record-breaking career on the track.

And today it was announced the thoroughbred, trained by the late Sir Henry Cecil, had become a father for the first time after Group Three-winning mare Chrysanthemum gave birth to a bay colt at Coolmore Stud in Ireland on Saturday.

The stud reported that the foal is “a handsome colt with a good head, a white blaze and great presence”.

The news was greeted with great delight at his owner-breeder Prince Khalid Abdullah’s Banstead Manor Stud in Cheveley, on the outskirts of Newmarket, where Frankel stands.

Juddmonte Farms general manager Philip Mitchell said: “From the reports that I have received, Frankel’s first foal is everything we could have hoped for.

“These are very exciting times for everyone who has supported the horse and we very much look forward to the rest of his first crop of foals.”

Frankel, the son of champion sire Galileo, last year covered 133 mares in his first season, of whom 126 were confirmed in foal.

More than 100 applications for his services were rejected, it is understood.

The coverings yielded around £15million, with his potential stud earnings estimated at £100m plus.

The official best racehorse in history could remain in breeding for the next 20 years if he remains healthy.

He is expected to breed three times a day and cover 130 mares each season.

Other top mares he has already attracted include Alexander Goldrun, Danedream, Dar Re Mi, Midday, Stacelita and Vodka. His covering fee remains unchanged for 2014.