A syndicate is a great way of getting involved in racehorse ownership, allowing a group of friends, family or colleagues to enjoy the thrill of racehorse ownership together. The syndicate model allows for a minimum of five members with a maximum of twenty. With such a number of people involved in one particular horse, it greatly reduces the cost per member of having a horse in training.
Members will nominate an agent, who will manage the syndicate and be the sole person who will detail with Horse Racing Ireland and their racehorse trainer. This avoids confusion and multiple calls from different members asking the same questions. Once registered, a syndicate account will be opened with Horse Racing Ireland and this will act as a holding account where all debits (costs of running) and credits (prize-money) will be handled. The syndicate will race under a name (to be approved by HRI) e.g. High Hopes Syndicate, that is no longer than 40 characters including spaces and includes the word “syndicate”. Syndicates can have more than one horse in training, however the same syndicate members but must be registered for each horse. A separate registration form must be completed for each horse owned by the syndicate.
“It’s a real affordable way of getting involved if you’re into racing, into horses. It’s easy on your pocket, it’s great fun. Especially when you’ve a number of people involved – the more the merrier – with a syndicate, it doesn’t matter what level you want to get in on with a horse. It’s perfect for whatever level you want to come in at, it’s easily done.”
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