Syndicated ownership of racehorses is a practical solution that helps manage the inherent risk and costs of first buying, then keeping thoroughbreds in training.
Whilst some racehorses are individually owned, most belong to small partnerships who share the financial responsibilities (approximately R12 000 per month for a horse in training) and split prize money proportionate to their shares in each horse.
Syndication, which allows for the participation of even bigger groups, takes affordability a step further – for example, Bass Racing’s Centenary Syndicate has 100 + enthusiastic fans, half of whom are first time owners. The expectant group attended Hollywoodbets Kenilworth on Tuesday to root for Future Variety in a Restricted Maiden Juvenile Plate sprint for boosted stake money of R200 000.
Their privately purchased, Lammerskraal Stud bred son of Var ex Furina (making him a half- brother to G1 placed sprinter Fabian) shortened into 17/10 favourite, having run 2nd on debut.
Future Variety duly made the anticipated progression and when delivered with a smooth challenge by Aldo Domeyer, the big- actioned horse with three white socks and a distinctive muzzle, beat off Monumental and Snow Pilot in a clustered finish to a key Maiden contest. Said an upbeat Domeyer afterwards, “He’s a horse with a future and the syndicate has a lot to look forward to…”
Mark Bass, the brains behind the syndication concept explained.
“I got the idea on trips to the sales in Australia where syndication is popular. To simplify, people pay around R7 000. upfront on an all-inclusive basis for a 1% share, so they don’t receive any bills at all during the horses’ career and, at the end they get paid out according to the prize money earned.”
Bass continued, “We started this three years ago with the filly, Nippy Winter – a consistent earner that has given us all a lot of fun but will retire to Stud in August. Future Variety is the 4th horse for our syndicate. Next up, we’re offering a youngster by the sire, Horizon so that more people can affordably enjoy the excitement of owning a racehorse.”
