Buying a National Hunt Horse with Martin Keighley
Buying into our Latest National Hunt Partnership with Martin Keighley
Introductory text here.
If you would like to be involved in this partnership, please contact Jon Hughes by phone on 01451 850780 or 07958 763159 or firstname.lastname@example.org. Purchase price of the horse for a one-sixth share is £0,000 + VAT, and the annual cost per partner will be £0,000 in advance, or £000 quarterly, or £000 per month from date of the horse’s purchase.
Horse Name– 0yo type by parent
- bullet points
text about the horse
Number of Partners
- Six equal partners.
- All partners to be, or become, Registered Owners.
- NH enthusiasts, combining optimism with realism.
- Each partner has an identical shareholding of 16.665%.
- Full involvement for all partners in key decisions.
- Horse to run in the partners’ colours (by rotation).
Costs and Budget (all prices shown ex-VAT)
- Total cost of buying Thady Quil, i.e. hammer price + Brightwells’ 6% commission + Gerry Hogan’s commission + vetting + transport + initial insurance £46,680 (+ VAT, which has to be levied but will be reclaimed), i.e. £7,780 + VAT per sixth share.
- Annual training fees, pre-training and associated costs per partner are £3,700 in advance, or £930 quarterly, or £310 per month. Ongoing insurance is extra, and it is for each partner to decide whether to insure or not.
- Budget for annual training fees and associated costs are estimates. Precise amount can vary, depending on time spent in full training, number of runs, veterinary requirements, etc.
- Precise annual accounts are produced with any surplus allocated to the partners.
- All attempts are made to keep costs to the necessary minimum.
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.
- Martin and Belinda Keighley are extremely welcoming and love to see owners at their yard. In effect theirs is an “open access” approach for all owners, so the best communication comes directly from them, while seeing the horse.
- Legally, all the partners are equal co-owners of the horse and will have all the advantages of that, e.g. full access to the horse, badges on all race days, equal share of prize-money etc.
- Commitment by the partners to retain the horse for a minimum of two years, when there will be a detailed review to assess performance and potential. That provides a potential exit route for owners.
- At the end of the first year there will also be a review when we always take into account the recommendations of the trainer as to the horse’s future.
- All decisions on continuity to be made by the partners, but very much in line with the trainer’s recommendations.
- All prize-money, and any budget surplus, to be returned to partners as annual dividend.
- All costs completely transparent and available to all partners. No mark-ups or hidden margins.
- Horse will be sponsored, enabling VAT to be reclaimed and credited to the partnership.
- Very low administration costs of £150 per year, per partner, to cover VAT reclaims, book-keeping, administration of registrations etc. and web site upgrades.
Tremendous Value for Money
How does this compare with some of the traditional syndicates? Many double the purchase price of the horse and charge £300 per month for a twelfth share, equivalent to £600 per month for a sixth share. Buying into a horse with Owners for Owners reduces the total costs per partner by at least 50% - a huge saving, 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 Martin Keighley’s yard near Stow-on-the-Wold in the North Cotswolds, and close participation with fellow enthusiasts in all the key decisions relating to the horse. This is guaranteed to maximise the enjoyment in owning (hopefully) a chasing star.