Buying an NH Horse with Charlie Longsdon
Charlie Longsdon is climbing rapidly through the training ranks and has had almost 250 winners in the last four years. We’ve had a strong relationship with him almost from the time he started training after his spell as assistant to Nicky Henderson. Our last horse with him, Shantou Magic, did very well, taking the owners to top tracks including Cheltenham, Newbury and Ascot, winning five times and netting owners a total of over £50k including sale price. It was an easy decision to support him again, not least because of his excellent team, modern approach towards training and access to top jockeys such as Noel Fehily, Richard Johnson and Aidan Coleman. This is a particularly good yard for developing young horses and Charlie has a real interest in training fillies / mares for the series of valuable races now available to them.
If you would like to be involved in this new partnership, please contact Jon Hughes by phone on 01451 850780 or 07958 763159 or email firstname.lastname@example.org. Purchase price of the horse for a one-sixth share is £6,250 + VAT, and the annual cost per partner will be £3,750 in advance, or £945 quarterly, or £315 per month from 1st May 2016.
Buying a sixth share in the bay 3yo filly by Presenting
- Total purchase price of the horse, including private purchase from Aiden Murphy, breaking, vetting, pre-training and initial insurance: £37,500.
- Purchase price per sixth share: £6,250 + VAT (reclaimed for each owner), paid as a lump sum on joining the partnership.
- Annual estimated training fees and associated costs per partner: £3,750, or £945 per quarter, or £315 per month. All prize-money and VAT to be returned directly to the partnership.
- Horse to race in the colours of one of the partners, each year by rotation.
There has never been a better time to invest in a beautifully-bred filly for NH racing. Prize-money has increased substantially and there are some top-quality races, not least at the Aintree and Cheltenham Festivals. Hopefully at the end of her racing career your horse retains a decent residual value to be sold back into the breeding industry. That is the plan with this horse, and Charlie Longsdon strongly endorses it.
In recent years there has been a substantial increase in the prices being asked for NH bloodstock at the premier sales. As a result we have developed close relationships with a number of key breeders and agents in the field, with a determination wherever possible to buy privately rather than in the over-hyped sales markets. Aiden Murphy, who is one of the best in the game for spotting and buying young talent, bought this Presenting filly at the Tattersalls Ireland sale, 10th November 2014, for €25,000. He looked after her at his Warwickshire stud and then arranged for her to be broken and pre-trained at Charlie Poste’s yard near Moreton-in-Marsh. We had her checked over by top equine veterinary surgeon Ben Brain ahead of purchase and after a five-stage inspection, he passed her with flying colours. Andrew Tinkler, the stable jockey for Martin Keighley who does much of the key schooling for Nicky Henderson, also rode her for us before purchase and described her as “a gorgeous filly who would not be out of place with top owners in Nicky’s yard”.
She really is a lovely horse who we intend to bring along patiently so that she can grow into her frame ahead of bumpers in the spring of 2017. If everything went the right way, this would include the Aintree fillies’ bumper on Grand National day before switching to novice hurdles and targeting the Cheltenham Festival in 2018. Obviously there is a long way to go but all the early indications are that she is a talented prospect.
Her sire Presenting needs little introduction, having been four-time champion sire and highly successful producer of top hurdlers and chasers for many years. On the Flat he won six races, all on Good / Good to Firm, for John Gosden including 3rd in the Derby and winning the Gr.2 Geoffrey Freer at Newbury over 1m 5½f in August 1995 (interestingly beating Midnight Legend, another top NH sire now). Few sires can claim to have produced two Cheltenham Gold Cup winners and three Grand National winners. Ballabriggs, Denman, First Lieutenant, On His Own and War Of Attrition are just a few of his many stars.
Our filly’s dam, Wood Lily, won a 2m hurdle at Fairyhouse in 2011 (RPR 123) and her dam was a bumper winner. She is a half-sister to the triple Gold Cup winner Best Mate and smart staying hurdler / chaser Cornish Rebel, as well as the useful stayers Inca Trail and Inexorable. There are at least seven Cheltenham wins in this group. As if this weren’t enough, Wood Lily’s dam, Sidalcea, is by another notable NH sire, Oscar, and her sire is Definite Article who has produced many hardy multiple winners not least Majestic Concord (Irish Paddy Power Chase over 3m) and Non So (over 2m 5f in the Mildmay of Flete at the Cheltenham Festival). His progeny tend to progress considerably as they age.Since we acquired the filly she has been looked after by Claire Hart at her excellent facilities on the Adlestrop estate near Stow-on-the-Wold. She is alternating time out in the paddocks with continuation of pre-training and dressage work ahead of entering Charlie Longsdon’s yard for full training from 1st September 2016. It is most unlikely that she will appear until spring 2017, and is likely to want decent ground.
Number of Partners
- Six equal partners.
- All partners to be, or become, Registered Owners.
- Racing enthusiasts, combining optimism with realism.
- Each partner has an identical shareholding of 16.66%.
- Full involvement for all partners in key decisions.
- Horse to run in the partners’ colours (by annual rotation).
- Owners for Owners monitor all costs carefully every month and do everything possible to keep costs to the necessary minimum. However, it can be quite difficult to estimate the costs for National Hunt, particularly veterinary work, so the above should be regarded as indicative only.
- Budget for annual training fees and associated costs are estimates, based on previous horses with Charlie Longsdon. Precise amounts will vary, depending on time spent in full training, number of runs, transport costs, veterinary requirements, etc.
- Precise annual accounts are produced, with any surplus distributed to the partners.
- All our costs are completely transparent and available to all partners. There are no mark-ups or hidden margins
Regular Communication to all the Partners
- Owners for Owners is committed to ensuring that every owner is actively involved with the horse, the yard and the partnership. There is complete openness on everything to do with the horse and its training.
- The web site is updated regularly, with a monthly Latest News section and privileged access to the Owners’ Area for the partnership’s horse.
- On the 1st and 15th of the month an email update is sent to all the owners highlighting the progress of all the horses and their likely race targets. This is accompanied by a fortnightly blog, The Owner’s Opinion, looking at topical owning and racing issues.
- Every Sunday there is an update email to each owner with the latest news about their horse.
- Every owner is encouraged to circulate photos or smartphone videos when they have visited the horse.
- Legally, all partners are equal co-owners of the horse and will have all the advantages of that, e.g. full access to the horse, a badge on every race day, equal share of prize-money, etc.
- Commitment by the partners is to retain the horse for a minimum of two years, when there will be a detailed review to assess performance and potential. That also provides a clear exit route for owners if required.
- At the end of the first year there is also a review when we take into account the recommendations of the trainer as to the horse’s future. This review will be done before the spring or autumn horses-in-training sales, thereby keeping this option open if the trainer so recommends.
- All decisions on continuity to be made by the partners, taking on board the recommendations of the trainer.
- All prize-money, and any budget surplus through VAT reclaims etc., to be returned to each partner as an annual dividend.
- The horse will be sponsored, enabling VAT to be reclaimed and credited to the partnership.
- All the administration is done by Owners for Owners on behalf of the partnership.
- Very low administration cost of £150 per year, per partner, to cover VAT reclaims, book-keeping, preparation of annual accounts, administration of registrations etc., and web site updates.
Tremendous Value for Money
How does this compare with some of the larger commercial syndicates? Many double the purchase price of the horse and charge £300 or more (sometimes substantially greater) per month for a twelfth share, which equates to around £600 per month for a sixth share rather than the £315 that Owners for Owners charge. Buying into a horse with Owners for Owners reduces the costs per partner by around 50%, with huge savings merely by cutting out expensive racing managers with high administration costs, and not charging indefensible mark-ups on the initial purchase price of the horse.And of course another difference is the level of involvement – open access to Charlie Longsdon’s yard and close participation with fellow partners in all the key decisions relating to the horse. This is guaranteed to maximise the enjoyment in owning (hopefully) an exciting NH prospect.