Leasing involves ownership of a racehorse for a set period of time, meaning you could experience the thrill and enjoyment of a horse running in your name and colours, and benefit from full ‘behind the scenes’ involvement without the initial outlay that is associated with purchasing a racehorse.
Costs that the horse incurs will become your responsibility for the lease period, and at the end of the lease agreement the ownership of the horse returns to the lessor/the legal owner.
How do I find a horse to lease?
Trainers will often have horses available to lease for a set period or may be able to point you in the direction of an owner/breeder with a suitable horse. You can find a trainer using the NTF’s online directory or the BHA’s interactive map.
How do I register a lease?
Anyone looking to lease a racehorse must first become a registered owner, whether that be as a sole owner or in a partnership or syndicate. Find out what the various ownership registration options are here. Once you have registered as an owner you must then register the lease with Weatherbys using the L1 form. A registration fee of £53.80 applies, plus a further £27.20 per year to renew the lease (if applicable).
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. Below is a template agreement and guidance notes which cover several points to consider when finalising your agreement.
It should be noted that this agreement is provided as a template, and may be altered to suit the particular requirements of the Lessee/Owner.
Other areas that could be considered for inclusion:
- Consider the influence that the owner/Lessee has over when/where the horse runs
- The level of detail included regarding veterinary requirements e.g. does the owner have the power of veto over certain treatments, who makes the decisions in the event that the Owner/Lessee isn’t contactable in an emergency/decisions regarding emergency surgery/euthanasia
ROA Lease Agreement - guidance notes
Points to consider when leasing