In 2018 The Irish Times reported ‘One in six racehorses are owned by a syndicate and have risen by 44% in just 12 months’, the same paper also reported in 2019 the continuing strengthening of syndicates numbers stating ‘more than a decade on from the economic downturn of 2008, the appetite for racehorse ownership is experiencing a vertiginous rise once again’ .

Like all sectors of society, the phrase ‘a rising tides lifts all boats ‘The strength of the economy is parallel to the rise or fall in the numbers taking out shares in racehorses. All positive headlines, so why in the public realm is there such a negative perception of syndicates in general?

A point which is often overlooked is the differences between a racing club & a racing syndicate, a racing club essentially can have multiple members with sometimes over 100 involved in one horse, with many offering micro shares for sometimes as little as €50 per annum, with this option the individual has no ownership rights, you are buying into a horse for a defined period, typically 12 months, whereas in a syndicate you are a shareholder with prize money divided as per your equity in the particular asset i.e., the horse. Both have benefits and may suit individuals depending on budget, interest, end goals and aspirations etc. One of the main selling points of a syndicate is to play into the racing fan psyche of investing small with the aim to yield attractive returns and the potential to own shares in a potential grade 1 winning racehorse at top festivals.

A syndicate can constitute a group of friends, business colleagues or family pitching in to fund a horse in training right through to the rise of professionally run syndicate businesses including Pioneer Racing where a number of strangers initially with similar interests in the sport acquire shares in a particular horse, many work with leading trainers and work closely with bloodstock agents to identify horses for all budges. Another perk of investing in a horse with a syndicate is if one party takes a 20% share, this entitles the party to have naming rights on the program along with a greater share in the prize money and potentially sale proceeds. Syndicate owners would have a vote if a horse was to be sold, unlike a racing club.

From speaking to those who have recently purchased their first share in a horse many have noted one of the main areas of frustration with the syndicate was not knowing when the horse is due to run and or the lack of runs. Every situation is different here and the type of horse the individual has invested into will determine same. The length of time getting a horse race ready may vary, a race ready horse shares will be more expensive, but members may see action relatively quickly with some syndicates offering shares for a horse declared in race meeting in 3-5 days’ time, these horses typically have a proven pedigree by having won a point-to-point race or even a grade 2 or 3 race. Shares in a young horse/2-year-old may be less expensive as would be deemed as a project per say, one would look at the breeding here, bloodline etc in this instance but owners may have to wait 12 months to see the horse on the track as a horse will have to be broken, schooled etc. From a syndicates viewpoint, it would be an idea in marketing promotions to explain to newcomers these differences and to set a realistic goal in potentially getting a horse on the track. What none of us want is a horse running prematurely due to pressure to run and suffering an injury, the horse welfare is the most important above all. Communication is key and it is important syndicates educate members as they progress, and the better syndicates will do same. Open days are good examples of same where the owners have the chance to see their horse on the gallops. Pioneer Racing recently ran one such event with one of their horses Bravo Team, trained by Gordon Elliott Racing running the same day in Fairyhouse.

Another fact of the sport is the horse may simply not make the grade for various reasons, for syndicate owners many will come to learn this is part and parcel of the sport. From experience, if a racehorse in a syndicate is no longer running under rules as did not make the cut many syndicates accommodate owners to transfer shares or work with the owner so they are not left empty handed. This is commendable as for a person in full ownership no such clause exists, that’s showbusiness!

The need to regulate the industry is important as will bring a level of trust from the general public, an online portal where an owner can see the level of shares sold in a horse etc. Recent articles re overselling of shares are not what the industry needs. The British Horse Racing Authority have undertaken same and in my view will only help to grow ownership levels in years to come. What aspiring owners need to realise is every horse they may be involved in will not be the next Honey suckle and may not win any races but the knowledge built up and connections from the experience is invaluable. Small items such as naming the horse, registering the name with HRI, even choosing the silks of a start up syndicate are items with which not many people can attest to being involved with.

In conclusion, much negative press can be found on racing syndicates in recent years but little positive news, for example, owners experience their first running at a race track, visiting a racing yard and learning the day to day life of a racehorse, jockey and trainer. The reason being is this does not sell papers, hence the need for The Grassroots Gazette to champion the grassroots of the community. Like any walk in life, there is good and bad everywhere and it is important to recognise the well ran syndicates, for without syndicate’s the sport would be for those select few in the upper echelons as mentioned in my previous article and would be alien to much of society. ‘Alone we can do so little, together we can do so much’.