How does a Racehorse Syndicate Work?
We have compiled some of the most frequently asked questions we receive in order to assist you in making a decision about whether a racehorse syndicate is suitable for you. So, how does a horse racing syndicate work? Read on to find out more.
What is the difference between owning a racehorse and being a member of a horse racing syndicate?
This question really gets to the core of how a racehorse syndicate works. When you own a racehorse you are typically the sole owner. Being part of a racehorse syndicate, you share the ownership with a group of people.
What are the disadvantages and advantages of being in a racehorse syndicate?
Being a sole owner you own 100% of the horse and you are responsible for the total price of buying the horse. You are also responsible for 100% of the running and training costs. In exchange, you will receive 100% of all prize money won, with the exception of Wetherby’s standard deduction. If the horse is sold, you will receive 100% of the sale price.
Being part of a syndicate you share the cost of buying the racehorse among your syndicate members. You also share the running and training costs with the rest of your syndicate members. Similarly you will get a percentage of the prize money, or the sale price should you sell the horse.
Being in a racehorse syndicate, therefore, spreads the risk and costs associated with owning a horse.
Do I get the same owner benefits as a sole owner?
Mostly yes! You get the entrance to the races when it runs. Syndicate members have the opportunity to share the same prize money. The primary distinction is that the racehorse will appear in the race program under your syndicate’s name, not your individual name as would be the case for a sole owner.
At the stables will I be treated the same as a sole owner?
Yes. At Nicky Richards Racing, we ensure equal treatment for all owners during their visits to our Greystoke yard, providing everyone with a 5-star service.
How many people are normally in a horse racing syndicate?
This can vary, but normally racehorse syndicates have between 8 and 20 people as members.
How do I get involved in a racing syndicate and select a horse?
Nicky normally has shares available in horse racing syndicates. See our Racehorse Syndicates page for more details of the syndicate opportunities we currently have available. Feel free to schedule a visit to the stable whenever it suits you. This way, you can engage in discussions about various options and also get a first-hand look at the horses we currently have. This experience can greatly assist you in gauging whether joining a syndicate is the right choice for you.
How would you summarise what horse racing syndicates can offer, and the advantages?
Racehorse syndicates are a cost effective way to play at the top table of racing for an affordable cost. You have fixed costs each year, knowing your liabilities in advance. Unexpected bills or costs do not catch you off guard. Plus, you enjoy all the advantages of racehorse ownership at a reasonable expense!