FAQ

We hope that any queries you may have are answered on this page. If there is anything that is not covered here that you would still like to ask, please complete the ‘Contact’ form or get in touch with any member of the team who will be happy to help.

How many owners are in each syndicate?

There is a maximum of 20 owners per syndicate.

How long is the contract for?

The contract runs from the date that cleared funds are received and is for a MINIMUM of 12 months for flat horses and 18 months for national hunt horses. After that point, we require one months’ notice to cancel.

CAN I LEAVE THE SYNDICATE AT ANY TIME?

You can choose to release your share and leave the syndicate when the 12 or 18 months is up, however the upfront payment will be relinquished.

WHAT DOES THE UPFRONT PAYMENT COVER?

The upfront payment includes the purchase price of the horse, vetting at the sales, ‘Plus 10’ registration (if applicable), sales house commission (5 - 7.5% of the auction price), agents commission (typically 2.5 - 5%), transportation to your horses’ trainer, the breaking in of the horse and pre-training, plus training fee’s up to the month that the monthly payment begins. Upfront payments do not include ‘Sales Race’ or any entries prior to start of the monthly payments. We will not ask for an additional purchase price payment for any of the horses’ additional years, you just continue with the monthly payments if you continue your contract.

WHAT DO THE MONTHLY PAYMENTS COVER?

The monthly payment is guaranteed to cover all training expenses: Veterinary treatment, blacksmiths, breaking in, training, transport to and from the racecourse, food and living costs & all associated administration, the jockey’s riding fee and your badge/s (the number depending on the % of the horse that is owned-see below) for the race meeting are all included. Your monthly fee will remain unaffected should other members of the syndicate choose to leave.

WHAT IS INCLUDED IN A SHARE?

Ownership to the full value of your percentage share in your chosen racehorse, including your % of all prize money and any resale value and free entry to the owners and trainers’ enclosure at the racecourse when your horse runs. Invites to stable visits both where your horse is stabled and the other trainers on the MPR roster. We deal with all the paperwork and administration for each horses’ run, enabling you to simply turn up at the track where everything is organised and waiting for you! We also hold unique experiences such as preview evenings, private boxes at meetings and dinners/evenings with syndicate members which you will have access to. 

ANY ADDITIONAL RACING FEES?

Race entries which cost over £50, and entries for races outside of the UK (all such entry costs including all forfeit stages and final declaration fees) plus transport for overseas races, are charged at cost price then pro-rata to your share – this then comes out of your share of the prize money if your horse wins. If, in the horses’ lifetime it does not earn enough prize money to cover these entries then any negative balance would not be charged to you.

WILL THE MONTHLY PAYMENTS REMAIN THE SAME?

There is a 5% annual uplift in monthly fees.

WHAT ARE THE PAYMENT OPTIONS?

You can pay the upfront share cost by direct bank transfer or by cheque. The monthly training fees, if not paid upfront, as some owners choose to do, can be paid by direct debit

CAN I INSURE MY SHARE?

When you purchase a share, the horse is not insured. However, you may choose to insure your share and this can be done independently or alternatively we can assist you with that. We would require written confirmation stating that you would like us to look into insuring your share. Alternatively, we will occasionally write to a syndicate asking if you would like the horse to be insured at a stated value (this is normally for ‘pattern’ race performers.)

DO I HAVE INPUT IN MY HORSES CAREER?

We do welcome opinion from each syndicate member regarding your horse's racing plans with your syndicate manager. Your manager will always be available to discuss through options for the horse and plans will be detailed though our owner updates

CAN I VISIT MY HORSE AT THE STABLES?

We organise year-round open mornings at every trainers’ yard, both during the on and off season. This allows you plenty of opportunities to get up close & personal with your horse, hear the trainer’s thoughts and meet up with fellow syndicate members. Many owners choose to join the team to continue racing discussions over lunch at a local public house!

HOW OFTEN WILL MY HORSE RUN?

The wellbeing of the Horse will be of paramount importance and the strategy for the management and racing of the Horse shall always be subject to the advice of the Horse’s trainer and if necessary at any time, vets. We pride ourselves on treating each horse as an individual, not just a number within our whole string, therefore the amount of starts during a season can vary from syndicate to syndicate. Some horses thrive on racing, some appreciate a bit of time between starts; therefore, each syndicate manager will be in frequent contact with each trainer regarding the race planning and strategy of every horse. 

DO I RECEIVE AN OWNERS BADGE WHEN MY HORSE RACES

Yes. When you purchase a share, your contract will tell you how many complimentary ‘Owners and Trainers’ badges you are entitled to (i.e. according to the % share owned: 2.5% = 1 badge, 5% or more = 2 badges and so on. When your horse is declared to run, (48 hours beforehand for flat races and 24 hours for jump races), you will receive an email with the race card and also asking you *how many badges you require. At major race festivals, we cannot always guarantee owners badges for all owners who wish to attend, as some racecourses limit the number of Owner and Trainer badges per horse at such meetings. 

*CAN I TAKE FRIENDS AND FAMILY ALONG TO THE RACES?

Yes. At the majority of meetings, you have the opportunity to buy additional badges to the number your share size allocation entitles you to, providing you have let us know beforehand. This is not always possible at the bigger racing festivals, such as Royal Ascot, The Epsom Derby meeting, Glorious Goodwood etc. as the racecourses strictly limit certain enclosure badge numbers (as mentioned above). In such instances, we work very hard with the courses and owners to make as many badges available for owners and their guests. 

CAN I BUY A SHARE AS A GIFT?

Yes, this is not a problem, we will do our very best to make your gift special.

WHAT INFORMATION DO I RECEIVE ABOUT MY HORSE?

Every horse has a designated syndicate manager, who is your first point of contact regarding your horse. During the racing season, you will receive updates via email or audio email message in respect of your horse’s progress, race plans, entries and declarations. Every time your horse is declared to run, you’ll receive a race preview on the morning of the race and a review afterwards, once your syndicate manager has the race report from the trainer. We will also send you photographs and videos of your horse when available. Off season, updates will be less frequent, as if your horse is out of training or as we say ‘on holiday’, there will be less to report on, however we still hold stable visits to see our horses out of season and will keep you up to date on any news.

HOW ARE DECISIONS MADE TO SELL HORSES?

Each horse is reviewed towards the end of every season by the relevant syndicate manager and you will be kept informed of any plans. Decisions are based on the performance, rating, estimated value and likely potential returns for the owners, whether through likely future racing achievements or re-sale value. We do our best to suggest selling at the right time and all owners are asked for their opinion to aid the decision making

WHAT HAPPENS IF A HORSE IS SOLD?

Offers are sometimes made during the season from buyers for our horses, these are usually ‘Pattern’ race performers. We have a tremendous record of buying horses well and selling them at the right time, earning a maximum return for the syndicate. Your syndicate manager will inform you of such an offer and ask for your vote to sell or not sell. The syndicate vote has to reach 65% for the offer to be accepted. If your horse is sold rather than retired, you will receive your percentage of the selling price. For example, if you owned a 5% share of the horse you would receive 5% of the selling price although this is dependent on how and where the horse is sold, as applicable commissions and fees will be due, such as sales house or sale agent, trainer, MPR etc.

HOW IS THE PRIZE MONEY DISTRIBUTED?

Unlike other syndicates, you will receive the share of the prize money you are entitled to if your horse is placed or wins. For example, if you own a 5% share, you receive 5% of any owners’ prize money won. ‘Gross’ prize money (which you will see at the top of race cards on the Racing Post website), includes all prize money distributed between owners, trainers and jockeys. The ‘owner’s percentage’ is about 78% for a win and then ranges from 83-87% for a place depending on the placed position. Please note MPR charge 5% commission on the gross prize money earned. Payment is usually made after the end of the season i.e. November/ December for both Flat and National Hunt horses

HOW DO I RECEIVE PAYMENTS?

Owners statements are prepared annually in November, summarising every owners financial account. If an account includes the proceeds of sold horses via sales houses then payments are sent after the sales proceeds have been received, which can take a minimum of 6 weeks to be sent out to us and clear

DO I PAY VAT?

No. Owners payments to MPR don't include VAT. MPR cover any VAT payments on behalf of owners and then reclaim it if applicable.

ARE WINNERS PRIZES GIVEN TO OWNERS?

Yes. The syndicate manager oversees how the winner’s prizes are distributed between the winning owners who are present at the racecourse. We aim to ensure that within each syndicate, trophies, photos, champagne and race DVD’S are fairly distributed amongst the owners during the season. 'Pattern race' trophies are assigned at the discretion of the syndicate manager (some of these are perpetual and have to be given back to the racecourse.)

Contact

info@middlehamparkracing.net

August House
Appleyard Drive
Barton-on-Humber
North Lincolnshire
DN18 5TD

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