The most cost effective way of owning a racehorse is to be part of a syndicate and harness racing is no different - the thrill of owning a winner is incredible, whether you own the whole horse or just a bit of its tail!
Basically, being part of a syndicate is to be part of a partnership where all costs are shared equally and all prize money is shared in a similar manner. In a way you are part of a club that enjoys the benefits of being part of the racing occasion whether here in Ceredigion or elsewhere in Britain where your horse may be racing.
Types of syndicate
These partnerships can take several forms :
Buying a horse outright and sharing the purchase costs and on-going costs such as registration, livery fees, training fees, vet fees, entry fees and travelling costs. This means the horse becomes the property of the syndicate as will all prize money accrued and the sale value when the time comes to sell. This is the highest risk syndication but the returns may be worth it if the horse wins a lot of prize money or achieves a high sale value. The costs can vary from month to month but on average a 10 person syndicate would need to find £300-400 each to purchase a horse and in the region of £60-80 per month towards maintenance costs.
Leasing a horse from the owner for a set period e.g. 12 months, which will mean less outlay initially as leasing will normally be cheaper than an outright purchase. However, the on-costs will be exactly the same as an outright purchase. This is less risky than an outright purchase but you will not benefit from the eventual sale value. On average, the lease cost is approx £100 per partner in a 10 horse syndicate – running costs will be very similar at around £60-80 per month.
Joining a club where you simply pay fixed monthly costs to be a part of that club for a fixed period. The club will actually own the horse or horses but by contributing monthly you will be a shareholder in the club and the club will ensure all costs are met. Your risks are spread more evenly in a club and you know exactly what your monthly outlay will be – on the other hand the financial returns may be less but you will still have the thrill of owning a racehorse. The cost of a tenth share in a racing club would be a fixed cost for a fixed period e.g. £60 per month for six months, which would cover the duration of the racing season as it currently stands.
Joining a syndicate
There are several ways of becoming a syndicate member:
Join a syndicate or club that is already up and running
Form a syndicate with friends or colleagues – buy a horse and choose your own trainer
Ask a trainer to form a syndicate and buy a horse on your behalf
We actively encourage owners and trainers in Ceredigion to offer these syndicate options so keep an eye out on this website for new opportunities, have a look at our list of local trainers and feel free to contact any of them to find out if there are opportunities available, or contact Ceredrotian and we will do our utmost to point you in the right direction.
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