Essentials

Over 60% of racehorses trained in Britain are raced in some form of co-ownership. This helps share the costs and increase the fun of the experience.

The ROA understands that syndicates are a valuable introduction into ownership. To get the most from the experience we have come up with seven tips to consider before you join a syndicate:

• Read the Syndicate agreement carefully, to ensure you are clear on all aspects of costs, factional interests, duration of the syndicate, liability and management. A FREE syndicate template is available here.
• Weigh-up the pros and cons of the available options to match your expectations and situation.
• Don’t be afraid to ask questions. Pre-arranged stable visits can be a very enjoyable aspect of ownership, so you may wish to check how often you would be welcome to visit.
• Be clear on what you’ve entered into. Is the horse owned or leased? Will you receive a share of any prize-money won?
• Check whether the horse you are involved in is insured (against all risks of mortality). Some owners choose not to insure, but members of syndicates can usually insure their proportion of ownership if they wish.
• Establish the frequency and method you can expect to receive updates on the horse, and who your point of contact will be.
• Ensure you have some form of third-party liability insurance cover. Owners may be vulnerable to claims even when their horse is in someone else’s possession. Members of the ROA receive £10m cover as part of their package of benefits. Read more here

Find a syndicate with In The Paddock

In The Paddock is a website designed to help discover the thrill of ownership. It offers a range of search functions to find UK-based shared racehorse ownership options to suit all pockets.

It is aimed at anyone considering getting involved in racehorse ownership for the first time and which showcases just how accessible, affordable and exciting it is to be part of the action.  

Visitors are able to search for racing clubs and syndicates to suit them using the search function which filters results by cost and payment terms, location, their jump or flat preference, as well as the average number of club members and the numbers of horses in training. They are then able to view the club or syndicate’s online profile where they can find out more about what is offered and get in touch with the racing manager directly.

For more information visit InThePaddock.co.uk

Have you considered Leasing?

Leasing allows individuals to experience racehorse ownership without purchasing the horse outright.

The lessee takes responsibility for running costs during the lease period, while the horse runs in their name and colours. Ownership returns to the legal owner when the lease ends.

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.

 To lease a horse, you must first become a registered owner. The lease must then be registered with Weatherbys using an L1 form. Registration and annual renewal fees apply.

 It is important that an agreement is made between the lessor and lessee with regard to the details.

A written agreement should cover:

• Lease duration
• Prize money arrangements
• Responsibility for veterinary decisions and costs - 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 etc
• Running and training decisions - Consider the influence that the owner/Lessee has over when/where the horse runs

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.