Have you ever thought about owing your own racehorse but were worried by the cost or were unsure of how to proceed and who to approach?
My guide to racehorse ownership should answer your questions and hopefully set you on your way to owing a racehorse.
The first step is to decide the route into ownership you wish to take. Here are the options;
Sole Ownership: You own the horse outright and as such, any costs are yours to cover but at the same time, any profits are yours to keep. You have a major say in any decisions regarding the horse, get to choose your own racing colours and also name the animal.
Co-ownership: This involves more than one owner and there are different forms this type of ownership can take; Company Ownership, Joint Ownership, Leasing and Racing Partnership.
A Racing Partnership is normally the most viable option for members of the general public wishing to get involved in racehorse ownership. These consist of between 2 and 20 individuals of which 2 must become, or already be, registered owners.
The most straightforward way to run a Racing Partnership, is to have it ?Trainer Managed?. This means having the partnership run by the Trainer of your horse. This simplifies the whole process of payments, race decisions and all the admin that goes along with it.
Racing Clubs are another way of getting involved without actually becoming an owner. The club owns a horse of number of horses that run in the clubs colours. You normally pay a yearly fee and receive a package including a brochure, maybe a ticket to the races and details of when the horses are running. These clubs don?t really offer much in the way of involvement but they also carry little risk.
This guide should have given you more insight into how to get involved with the world of horse racing; there is also a wealth of information available from the British Horseracing Board on the subject. It is a good idea to contact them before taking the leap into ownership.
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