Q: What is the difference between a syndicate and a Racing Club?
There are significant differences between syndicates and the Club. If you wish to join a syndicate, you must purchase a share in a horse. As well as the initial investment in the horse, you are also responsible for paying your share of the full range of costs relating to the horse’s upkeep as well as any unforeseen costs such as veterinary bills. You are also committed to paying for the upkeep of that horse until it is sold or retired, regardless of whether it is racing or not.
The primary upside of being involved in a syndicate is that the members are entitled to their share of prize money earned and proceeds from a sale of their horse. However, the reality of racehorse ownership is that only a small minority of horses ever earn prize money in excess of their purchase/training costs or end up being sold for a sum greater than their purchase/training costs. On average it costs more than $50,000 per year to keep a horse in work with a metropolitan trainer.
In contrast, membership of the Kingstar Racing and Breeding Club does not involve purchasing horses, paying training fees or even committing to any onehorse. Thus, members get to experience what it is like to be involved in a string of horses for a much smaller financial outlay. Also, you are not just locked in to the one horse, who may not race for 12 to 24 months after it was first purchased.
Q: Who gets any prize money that the Club horses win?
Each time a horse races a member’s draw will be held, and two members will win a share of the prizemoney for that race (less the trainers and jockeys commissions of 15% in total).
Q: What happens if a Club horse is sold or is no longer able to race?
Club race horses could potentially be sold, but in practice this is unlikely to be applicable in most cases. If a horse is injured and is no longer able to race for any reason, they will be replaced with another horse as soon as possible. The Club will aim to have no fewer than shares in six horses at a time. The proceeds of any horses sold we be reinvested into buying more racing and breeding stock for the club.
Q: What happens to a horse after it is finished racing?
If it is a mare we will most likely add it to the Club’s broodmare band and breed with it. If it is a colt or gelding we will find a good home for the horse where it may end up becoming a show jumper, eventer, or some one’s pleasure riding horse.
Q: Will I ever be asked for an additional payment after signing up for membership?
No. You will not be asked for any payment beyond your annual membership. There will be some additional events organised by the club that may require extra payment to attend. In the future we do expect to give the members the option of buying a directly owned share in some of our horses.
Q: Do I have to join at the start of the season?
You can join at any time. Once payment has been received, you will receive a confirmation email and be granted full access to everything the Club has to offer for 12 months from the signup date.
Q: I am buying Membership as a Christmas/birthday gift. Is it possible to choose a start date for the membership?
Yes! Please advise us of the date on which you would like the membership to start when making payment. We will activate the membership from that date rather than the date of payment.
Q: Will I get tickets every time I wish to go racing?
We have good connections with the race clubs and will endeavour to get as many parade ring tickets as possible for each race day. We will contact members before each race day to gauge the level of interest in attending and then decide if a ballot for tickets is required.
Q: What happens on raceday when you have a Club member ticket?
When your ticket has been allocated, you will be contacted with information on how to collect it on the day. This information will differ depending on the racecourse. You will usually receive a Parade Ring pass. Members are more than welcome to meet in the parade ring twenty minutes before their race to meet with the trainer and jockey and listen to their pre-race discussions.
Q: Can couples, friends or families share a Club membership?
Unfortunately not. If a friend or family member wishes to enjoy Club membership, they have to purchase their own individual Club membership. Each membership and all of its benefits are limited to an individual.
Q: Can children join the Club?
Unfortunately not. The club is for people aged 18yrs and over.
Q: Can a member be removed by the Club Trustees?
In exceptional circumstances where a member has acted in a manner prejudicial to the best interests of the Club, they will have their membership revoked without refund.
Q: What happens if I want to leave the Club?
Members can choose to leave the Club at any time, but will not receive a refund.
Q: What happens if the Club closes down?
If the Club closes down for any reason, existing members will be partially refunded their membership fee in proportion to how many months are remaining in their membership period at the time of the Club closure.