How do I purchase a share?
Once you have contacted us to discuss your interest in purchasing a share, we will send out an information pack relevant to the horse. This will include a product Disclosure Statement approved by Racing Victoria, which will outline details including a break up of the cost, estimated training fees etc. After reviewing the terms and conditions you will then be in a position to make an informed decision about the purchase.
How is the purchase price calculated?
The product disclosure statement will outline all related expenses. Typically costs include transport, insurance, vet inspections, race promotion nominations and the breaking in process.
What are the ownership options?
There are two main ownership options:
- Purchase a share as an individual
- Register your own official syndicate (for a small fee payable to RVL) with a group of family or friends and facilitate ownership in smaller percentages. We can assist you in completing the relevant syndicate documentation.
Am I able to inspect the horse?
Inspection times can be arranged for all prospective owners at the Mornington stables.
As an owner, what am I entitled to?
You will vote on the horses name, have your name in the race book where a share of 5% or greater is held and receive owner privileges such as race day entry, member ticketing and mounting yard access. The group of owners will make all decisions in relation to the horse both during and after its racing career.
How much is the monthly cost per share?
Our aim is to make owning a racehorse as affordable as possible. It costs approximately $150 - $200 per month including GST for a 5% share when your horse is in full training and $50 per month when the horse is spelling. This includes vet fees (on occasion there may be certain vet procedures which will incur an additional fee), transport, chiropractor etc. However, it does not include nomination fees for group races. Having a horse capable of competing in such races far outweighs any associated cost.
How are does billing occur?
You will receive a detailed bill monthly in arrears. If you have any queries in relation to any of the items on the bill please contact us.
Is my share insured?
All yearlings are insured for the first 12 months, which is included in the initial purchase price. Following the initial 12 month period the decision to insure will be at the discretion of each owner. Should an owner decide to insure their share we will arrange for the policy to be put in place.
Does my name appear in the Racebook?
If you own an interest of 5% or greater your name will appear in the race book as an individual owner, which entitles you to full owner privileges.
What silks will the horse wear in races?
Your horse will race in the Newminster Thoroughbreds colours.
How are the races and jockeys decided upon?
Both the racing schedule of the horse, and its raceday jockey will primarily be determined by the trainer, in consultation with Newminster Thoroughbreds. All owners are welcomed to contact Newminster Thoroughbreds to provide their opinions.
How is prize money distributed?
All prize money is distributed directly from the relevant racing club to the nominated bank account of each owner.
Can I contact the trainer directly?
Our intention is to have all owners actively involved and therefore we encourage you to contact ourselves and/or the trainer directly. In addition, stable visits can be arranged at any time.
Am I able to sell my share during the horses racing career?
If due to your personal circumstances you need to sell your share in the horse, we will assist in finding a suitable buyer either amongst the existing owners or externally at an agreed upon price (we will arrange an external valuation where required). While this process is taking place you are obligated to continue to meet monthly costs. Depending on the situation there may be circumstances where we will agree to take over the share for no consideration but as a result you will be free of any ongoing obligations.
What happens when the horses racing career is over?
The ownership group will decide when to conclude the horses racing career. It will then be discussed amongst the owners as to future plans. This will largely be dependant on the success of the horse on the track and therefore residual value. All proceeds of any sale are distributed according to the share amount owned minus associated cost.
Other Syndication and AFS License information
Newminster Thoroughbreds utilises the services of MiSyndictions (misyndications.com.au) to help promote shares in our horses legally by providing access and use of an AFS license and an accompaing PDS (Product Disclosure Document).