What is a racing syndicate?
We get a lot of people ask us, what is a racing syndicate, what's the best racing syndicate, how much does a syndicate cost, what are the benefits of being in a syndicate, how do I get involved with racehorse ownership etc. Here we are going to discuss a few things about syndication and how easy it can be to get involved with.
A racing syndicate is where a collective group of people own small shares or %'s of a racehorse, normally to make it more cost effective and affordable for everyone involved. They could technically consist of anything from 2 to an unlimited amount of owners depending on the shareholding options. Here at PRO we try to maintain a minimum of 2% shares, this is because we try to provide our owners with the best service and opportunities of getting along to the races to see their horse. Racing syndicates are a fantastic way of people getting involved in racehorse ownership at a reasonable cost and make it affordable for the 'working class' man or woman to enjoy the full experience of being a racehorse owner. As owning a racehorse costs on average around £25,000 per year, it's not normally viable for people to own their own horse outright. Racing syndicates cut this cost down into small chunks, so effectively if you own a 2% share then you are going to be paying 2% of the training fees. It's the perfect way for the everyday punter or racing enthusiast to get involved with the 'other side' of racing and truly get an understanding of what goes into getting a racehorse to the track and winning. Another benefit of being involved with a racing syndicate is that you tend to make new friends through racing, which can ultimately make your days out much more enjoyable and you get a real sense of unity whilst cheering on your racehorse. It should be a fantastic experience for anyone looking to get involved with ownership and it's one that none of our owners have regretted doing. We try and make the experience a very personal one, as in our opinion it's all about getting people involved and seeing their horse in the flesh. Communication is key with racing syndicates, you want to be kept as updated as possible and it's what we at Personal Racehorse Owners think is the most important factor about a successful syndicate. There is a big difference between a racing club and a racing syndicate, a club is where there is an unlimited amounted of owners and prize money is divided among all owners at the end of the year as a %. Since there are lots more owners involved the likely hood of being able to attend a race day is also much reduced, however the costs can be very minimal to get involved. Racing syndicates are a great way of being able to afford a fixed %, where you receive a direct relation of prize money to your ownership % and where, since the number of people involved is relatively small, you should always be able to attend race days. Here at PRO we've never had to turn any owner or their guests down who have wanted to attend a race day and see their horse race!
How Affordable Are Racing Syndicates?
In most cases joining a racing syndicate can be very flexible in regards to cost, you can normally take whichever share % you are after, be in from 1% up to say 50%. The great thing about syndicates is that you can set your monthly budget and take a share package to reflect this. One thing we like to do here at Personal Racehorse Owners is offer people fixed rates on their monthly fees, this means that they never have to worry about potential vets bills or hidden costs which are associated with owning a racehorse etc. There are many reasons why syndicates are a great way into ownership, however affordability is the main selling point for people getting involved. Syndicates can vary in cost quite dramatically, some can be well overpriced and expensive for what they are, so I'd advise people to look into various options and choose the right fit for them. However that doesn't mean the cheapest is the best by any means! You want a syndicate who's communication is good, organised and that effectively treats you as a partner in the horse. We at PRO try to be as personal as possible to ensure all our owners have a fantastic experience at an affordable monthly cost.