Ownership
is subject to the following:-
Payment is
made in full, via a one off lump sum or, initially by the share purchase, followed by ten monthly
payments using Standing Order or Direct Debit arrangements.
As
an owner you will receive the following:
The percentage share of the horse you have purchased,
including the equivalent share of any prize or sales money.
These payments cover the following:
The purchase of your share
of the horse
The training of the horse
Blacksmith fees
Gallop fees
All transportation costs of
the horse
All Vet and associated fees
All race entries
Jockeys’ fees
At rest grazing / care
All administrative charges
made by the British Horse Racing Board and Weatherbys, including the cost of
registration, colours and Authority to Act.
All syndicate running costs
and expenses incurred throughout the ownership period.
The share of
any prize and sales money that you receive will be directly related to the
percentage of the horse you own.
All such
monies will be distributed to you within 14 days of our receipt from
Weatherbys.
A
certificate from Venture Racing confirming your ownership, this will be issued
following the receipt of your first payment
Having an
owners badge gives you access to the Owners and Trainers Car Park, all bars,
restaurants and viewing areas, the parade ring to meet the jockey and trainer,
the winners enclosure should your horse win or get placed and all other public
areas on the racecourse.
If you
require additional badges for non-owners, Venture Racing may be able to acquire
these for you. These badges may also be at a discounted rate.
Any badges
purchased on an owner’s behalf must be paid for on the day.
Stable visits.
The stable
visits are subject to the following:
They will be arranged on a mutually acceptable date and
time, to both our Trainer and Venture Racing. You will be notified of these by
the syndicate managers at least one week before the visit.
Should the visit need to be cancelled at short notice you
will be notified of this as early as possible. The visit will be rearranged and
you will be informed of the new date.
You are able to bring one guest with you. Should you want to
bring more than one guest please contact us 48 hours in advance and we will try
to accommodate you.
P.T.O
A
newsletter will be published on a regular basis.
Communications
Each owner
will be contacted informing them of entries made for the horse, and any other
important news.
On the eve of
a race, each owner will be contacted to discuss the horse’s prospects for the
next day.
For
any owners’ wanting to speak to the Syndicate Managers, they will usually be
available by telephone between the hours of 10:00 and 20:00 hours daily.
The
Syndicate Period
The syndicate
period will commence on 1st April each year; anyone joining after
this date will be eligible for a refund of their training fees on a pro-rata
basis at the end of this period, should the horse be sold. If at the end of this period, members wish
to retain the horse rather than sell, then only the monthly training fees would
be payable for the following year. The decision to sell or retain the horse
will be taken by members 2 months before the end of the syndicate period. The
horse will be re-valued prior to this meeting. Each member will have an
equitable vote against the percentage of his or her share owned. Likewise,
should, during the syndicate period, an offer be made to purchase the horse
from us, this will need to be carefully considered and voted on by syndicate
members and a majority vote will carry. Should the horse be entered into a
selling or claiming race then, obviously, the syndicate and its members have to
recognise that we are bound by the rules of racing and may, via such rules,
have no option but to sell the horse.
Should it be
decided to retain the horse for a further syndicated period, anyone wishing not
to continue will be paid his or her capital refund, proportionate to the new
value of the horse.
Should the
horse have to stop racing because of injury, it is Venture Racing’s sole
responsibility to ensure that the horse be found a good home. In this instance,
the horse’s value would be virtually nil meaning a loss of capital cost to all
members.
Drop Out
Clause
Any member
deciding to drop out of the syndicate
early, can do so. This will not have any impact on other members’ payments,
because all agreements entered into, are directly made with the syndicate
managers, who are solely responsible for all monies owed to the trainer and/or
racing authorities.
For the
syndicate to be viable, a minimum of 50% of shares in the horse must be taken.
If this does not happen then all monies paid will be refunded in full, less any
fees/costs already expended, from which the member has benefited, e.g. the
horse has run on one or more occasions.
It
should be noted that joining the syndicate should not be seen as being an
investment or for financial gain.