Partnerships are the most common type of ownership in Australia and are a great way to get involved with a group of likeminded people.
Most trainers in Australia buy horses at yearling sales with the aim of on-selling them to their client base. So if you have a favourite trainer, you can call them and ask what shares they have available in horses.
They often have a range of options available in different horses and at different prices.
You can purchase a share outright or can even purchase a share with a group of friends. For example, you and four other friends buy a 10% stake in a yearling together.
Typically, share options range from 5% up to 25% but there is no hard and fast rule. There is nothing stopping you and a group of friends buying 100% of a horse to race together – if your budget allows for that.
A few important things to remember when it comes to racing a horse in partnership:
Up to 20 individual owners can be listed in the race book (including syndicates), so if seeing your name in print is important to you, make sure you discuss this with the trainer.
If you decide to form a syndicate with friends or family and purchase a share, you will have to nominate a syndicate manager. It’s their responsibility to handle communications with your trainer and take care of all the paperwork.
The same goes if you buy a horse outright with a group of mates, you’ll have to nominate a managing owner.