Horse racing is without any doubt the most prestigious of equine disciplines. The fast and beautiful horses are not only spectacular to watch while competing but they can also be very rewarding. People have wide range of options to select from when it comes to ownership but possibility of owning a racehorse is for everyone.
In individual ownership it’s quite self-explanatory that you are the only owner who will be paying all the costs for any expenses while also making all the decision and you alone will be enjoying the rewards. This requires the most of a person’s individual cost.
This is the most common kind of ownership prevailing. Owners of one horse or many share the costs and also the fun that comes with it. These ownerships can have a few members or as many members as you like. If the partnership or the syndicate doesn’t have any trainer, any member has to be nominated as the trainer because the racing manager liaises with the trainer directly and they keep everyone updated about the horse. It is recommended for this kind of partnership to have a written agreement in place describing all the decisions that will be made about the horse including the details about the awards and prizes and how disputes will be settled if any arises etc.
Public syndication is also known as authorized syndicates. It is a common form of multi-person ownership. This kind of syndication works under a well-defined relationship which abide to the rules set up by the Rules of Racing and The Financial Markets Authority. The manager of syndication is responsible for all the communication between the members and the trainer and also the accounting functions.
Appointing a racing manager:
If you are already a member of a syndicate or partnership or if your horse has different owners, it will be a smart move to appoint a racing manager. A racing manager is responsible for ensuring that all accounts are paid from all ends and they directly liaising with the trainer to help them communicate what is happening with the horse. A racing manager also has the authority from all the owners to sign any kind of documents relating to the care of the horse.
It is an alternative method to get ownership of a racehorse. Leasing gives the opportunity to people or partnerships to race a horse without having to buy the race horse for sale Australia. The horse solely belongs to the lessee for the racing purposes. The lessee is responsible for the costs and the care that is put in the horse. The lessor is entitled to a certain percentage of the award.