Owning Racehorses Is Easy With Syndicates

By Author: Topline Breds
Total Articles: 17
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Horse racing is the dream of many a people. It not only lets them make some money from races but gives them a chance to mingle with the who’s who of town! As horse racing cannot be afforded by everyone and is just a preference of the elitist, it allows people an easy chance to carve their place among the rich and the famous in the society. Nowadays, there are enough provisions for legally owning race horses in partnership with others. This joint ownership of race horses is done by investors who form a syndicate and pool in money to buy horses.
In a joint ownership system, there are various types of arrangement. Firstly, all the investors can come together and divide the money equally for the Race horse for sale. Further on, all costs for the training, medication and food for the horse are split up equally. In another type of arrangement, one person or a couple of people from among the investors might look for Thoroughbreds for sale and buy it. They are then not liable to pay for the other costs which are then to be borne by the remaining members of the syndicate. It’s ...
... a good arrangement and can help everyone save money.
There are a lot of things to take care if you’re buying racehorses by being a part of a syndicate. First of all, you should make sure what all costs you shall be liable to bear. There are various costs such as paying the trainer for training, buying training equipment, booking a ground for training, paying the caretaker of the stables, bearing the costs of the veterinarian, paying the entry fee of the races etc.
You cannot possibly bear all the costs so make sure it is clear which one you’ll be supposed to bear. Depending upon the costs people bear, syndicates lay down certain rules regarding the ‘access levels’. While most syndicates offer full access to see what’s going on during training and feeding, there are few that offer limited access. A couple of members are allowed access only for the races and are barred from visiting the training site.
When you’re out to become the member of a syndicate, do your research well. Just don’t enter into an agreement looking at all the glitz, glamour and excitement surrounding horse racing. Rather, read all the rules related to the syndicate before entering into a deal with them. It just might happen that while the other members collectively look out for Horses for sale in NSW, you’ll be left with the entire task of paying up for the training, feeding and medical checkup of the horse. Become a member of a syndicate only if you are totally comfortable.