The decision to call time on racing for the Dark Angel gelding came after he finished fourth to fellow old-timer Gabrial at Epsom on Monday.
“Sov ran well at Epsom on Monday giving weight away all round but a decision was made this morning to retire him as his joints aren’t what they used to be,” the North Yorkshire handler told www.ruthcarrracing.co.uk.
“He owes nobody a thing and deserves a long and happy retirement.
“For the time being he will stay here at Mowbray but he’s such a fantastic looking horse with masses of presence it would be a shame if he wasn’t seen out and about, maybe, in the showing world in future.”
Donning the colours of Lady O’Reilly, Sovereign Debt was a multiple Group and Listed race scorer. He won 15 of his 63 starts and amassed a total of £812,278 in prize-money.
Originally trained by Michael Bell, he spent the bulk of his time with Dandy Nicholls before being switched to Carr in March 2017 on the back of scooping the £92,000 first prize in a race in Qatar.
He continued his winning ways for the Carr stable, notching a hat-trick with victories in the All-Weather Mile Championship at Lingfield, the bet365 Mile at Sandown and the Diomed Stakes at June in the following few months.