Trainers: 6 steps to help you set up your shared ownership Syndicate or Racing Club

Setting up your own Syndicate or Racing Club is a great way to enjoy racehorse ownership whilst expanding and engaging with new owners and potential customers.

Outlined below are 6 steps to assist you with setting up your shared ownership experience

Choose your shared ownership structure...

You may already have a clear idea of what type of shared ownership experience you wish to offer. However, if you haven't yet come to a conclusion, it is important to understand the differences between a Syndicate and a Racing Club.

A Syndicate is where its members, two or more people, own (or lease) a racehorse (or several racehorses) and make a financial contribution to the purchase costs and a share of the associated costs incurred e.g.training fees, entry and racing costs, vets etc.  A Syndicate is managed and administered by the Syndicator/s. 

A Racing Club is aimed at people who want to pay a subscription to experience racehorse ownership. A Racing Club is managed and administered by the Club manager/s and it is the Club itself, as opposed to its members, that owns or leases the horse/s. Your members will not own any legal or equitable rights to the racehorse as ownership remains with the Racing Club; Members pay a fee to be part of a club and to enjoy some of the benefits of racehorse ownership.

A more detailed outline of the variations between the two can be found HERE.

Set up and register a shared ownership entity with the British Horseracing Authority (BHA)…

Before registering a new Syndicate or Club it is important that you understand your responsibilities under the Rules of Racing and, specifically, the Rules that relate to Syndicates and Clubs.

In particular, it is important to understand the responsibilities of the Syndicator(s) or Club manager, the person or people who promote, manage or administer the Syndicate or Club and the terms outlined in the respective Code of Conduct’s. Please familiarise yourself with whichever is relevant to you.

Syndicate Code of Conduct

Racing Club Code of Conduct

Prior to registering your shared ownership entity, the Syndicator/Club Manager will need to ensure they are registered as an owner (or a company) in their own right. Following that, the Syndicator/Club Manager can register a shared ownership entity with the BHA.

To do this you need to log into the BHA’s Racing Admin website and register through the ‘owner menu’. Should you need further instructions you can find detailed information relating to registering Syndicates and Clubs HERE.

If you wish to add syndicators and/ or members to an existing shared ownership entity, then you may do so following this helpful ‘how to’ guide HERE.

Should you have any further queries relating to ownership registration, contact the Weatherby’s Ownership Desk who can help you on +44(0) 1933 440077 or via email ownershipdesk@weatherbys.co.uk.

Design your racing colours…

Racing’s history is full of many memorable horses and jockeys to have carried world-famous racing colours. This is your opportunity to create a set of vibrant and fun silks that will engage your current and future members. 

For all FAQs on racing colours relating to everything from availability to registering and reserving colours please visit the BHA Racing Administration support website HERE.

Draw up a contractual agreement…

What is included as part of the Syndicate or Racing Club membership will vary for each entity, so it is important to draw up a contract surrounding terms of payment and commitment.

Some Syndicates will offer an all-inclusive one-off payment, which includes the purchase price of your percentage of the racehorse as well as the training, veterinary and racing fees.

Others will charge an initial cost to buy a percentage and will then ask for additional funds for the horse’s training and racing expenses. A contract template for a shared ownership agreement is currently under development
and will be linked here in the near future.

Prior to signing, please ensure you have familiarised yourself with the relevant Code of Conduct for your shared ownership experience.  Both are available at point 2 above.

UNDERSTAND THE ASSOCIATED COSTS

To set up a Syndicate or Racing Club, you must fully understand the costs associated with setting up the appropriate ownership entity.

To register your entity, you must first include one named Syndicator, who must already be registered sole or company owners. Following that, there are individual fees attached to setting up a Syndicate or Racing Club.

Costs can include but are not limited to administration fees for owner or company registration, authority to act, registering your racing colours, sponsorship and registering for VAT. A full breakdown of registration fees can be found HERE.

For ROA Members a 20% discount will be applied at the point of registration.  If you would like to join the ROA or review the benefits available to members please visit HERE.

Promote your Syndicate or Racing Club on In The Paddock

The In The Paddock website provides a free listing system for all British-based commercial Syndicates and Racing Clubs.  

The recently re-launched website has the capabilities to sort by numerous filters, including but not limited to location to the yard, price and syndicate type, be that trainer-owned or other.

With around 40,000 website visitors annually, alongside a significant email database and a central marketing plan there are numerous benefits to listing on the In The Paddock website.

The sign-up process is simple and quick. Provide your details within the ‘list your syndicate’ section of the website and pending our internal security checks and your adherence to the respective Code of Conduct, your Syndicate/Racing Club will be listed.   

Please ensure that you have listed accessible contact details for new members to reach you easily. This will help fill out your Syndicate or Racing Club with passionate and engaged members!

Contact Information: info@inthepaddock.co.uk

Download our Trainer Toolkit PDF HERE.

Questions?

Should you have any further questions related to being a racehorse owner you can access the BHA’s specific owner's toolkit

Owners toolkit