There used to be a time when racehorse ownership was reserved from the rich and privileged, however there are now a range of different types of racehorse ownership, some of which may be more affordable and depends on your budget.
The Racehorse Owners Association have produced an online Guide To Ownership to help you find which ownership would suit you and more information about the different types. Weatherbys handle all Ownership registrations and can prove extremely helpful for any questions.
If you are the sole owner then any costs, winnings and sales will be your own, you will be closely involved with the decisions around the horse. These include naming (if he is not already named), colours and runs under your own name.
There are different types of Co-Ownership, this can be more affordable if there are a few people to share the costs of ownership.
Company – For people or organisations wishing to own a horse under the name of a company or business. Gallops mornings and racecourse visits are a great way to charm clients or boost employee benefits.
Partnership – This is suitable for a group of 2 or more registered owners to come together to own a horse together. This can be family and friends who would like to share the excitement of ownership. This is slightly different to a syndicate which is generally larger. A partnership will own the horse together and will each have an input into the decisions about the horse, however less involvement than sole ownership. We have many partnerships at Hull Farm Stables, including Owners for Owners who limit horses to 4 – 8 partners.
Syndicate – A group of people coming together to own a horse, they do not have to registered owners in their own right and will have a syndicate manager who is responsible for the syndicate. The Syndicate manager will be the point of contact for Charlie, keep the accounts in order and syndicate member informed about the horse. A syndicate is typically larger than a partnership and therefore members have a smaller input. A syndicate will own the horse and will receive any winnings and profit from selling a horse.
The Charlie Longsdon Racing Club is set up as a syndicate as the members own 2.22% of each horse and receive any prize money and profits if the horses are sold. They also only incur a ‘joining fee’ of £888 and a monthly payment of £74, and no further costs.
Racing Club – A group of people coming together to experience the thrill of racehorse ownership, without the initial cost of purchasing a horse. The horse will be leased rather than owned by the club, and it will be run by a club manager.
The ROA strongly recommends that owners involved in co-ownership sign up to a Syndicate Agreement. Template agreements can be found on their website.
Leasing
Leasing involves ownership of a racehorse for a set period of time. Costs that the horse incurs become the responsibility of the lessee for the lease period and in return the horse will run under the ownership of the lessee. At the end of the lease agreement the ownership of the horse returns to the lessor/the legal owner.
It is important that an agreement is made between the lessor and lessee with regard to the lease period, prize money split, if any, and any exceptional costs that may remain the lessor’s during the period. A template lease agreement can be downloaded from the ROA website.
Racehorse Owners Association (ROA)
The Racehorse Owners Association (ROA) has over 7,800 members and promotes and protects the interests of racehorse owners in Great Britain, making members' racehorse ownership more cost-effective and enjoyable. For an annual subscription of £230, just 63p a day, ROA members receive important and exclusive benefits, often easily paying for the membership fee:
More information is available on the ROA website or call the Association’s London office on 020 7152 0200.
