Becoming a Registered Owner
The overriding principle of Owners for Owners is that everyone involved in owning a racehorse with us should genuinely be an owner, participating fully in the whole racehorse ownership experience. Equal shares, proper cost transparency, full involvement in decision-making and open access to the horse and trainer. Not subordinated to the needs of a syndicate manager. To this end we require everyone to be, or become, a registered owner, thereby ensuring that our partnerships can be registered as joint ownerships. “All joint ownerships are partnerships, but not all partnerships or syndicates are joint ownerships.” There are some important differences and requirements.
- Types of ownership: BHA Guidelines make the distinction between sole ownership, four different types of co-ownership, and racing clubs. We set up co-ownerships and register them in line with the BHA definition of “Joint Ownership”. This provides more advantages for our owners than registration as a “Racing Partnership”. To do this, however, all our owners must be registered with the BHA.
- Becoming a registered owner: fortunately, it is neither expensive nor difficult, and it provides potentially big savings for a small, one-off cost of £89.10 to register. This can be done by completing the Registration of Owner form (RS1) on www.racingadmin.co.uk, either online or by printing off a paper copy. Owners for Owners does not need to see the form; it is confidential between the owner and the BHA. email@example.com can provide advice as needed or supply a copy of the application form.
- Becoming a member of the Racehorse Owners’ Association: on registering as an owner you have the opportunity also to join the ROA, for a fee of £230. This provides additional benefits including a reduction of 20% in many BHA fees so that registration as an owner comes down to £71.28. In addition you enjoy many exclusive membership benefits: free owners’ car park label, subscription to the high-quality Thoroughbred Owner & Breeder magazine (worth nearly £60 per year), access to ROA hospitality fixtures at various meetings, exclusive discounts, offers and competitions and, very importantly, automatic free coverage under the ROA Third Party Liability Insurance Scheme against potential damage should your horse cause damage or injury to a third party or their property. Finally, your percentage share of the horse counts towards the 50% of a horse needed to qualify for free
- admission to the vast majority of race days in the UK under the Racecourse Badge Scheme for Owners. This last benefit is not available to members of a Racing Partnership. You can register to become a member here: Racehorse Owners's Association.
- Running a horse in your colours: the vast majority of syndicates and partnerships race their horses in the colours of the individual or company managing the ownership. Owners for Owners does not subscribe to that approach at all. Our horses run in the colours of the individual owners, by annual rotation. If you do not already have your own racing colours, you can apply for them on becoming a registered owner - www.britishhorseracing.com. Not every owner wants to do that but we feel that it is important to provide everyone with the opportunity.
- Legal and financial obligations: in a Joint Ownership, we are jointly and severally liable for the financial and legal obligations of owning our horse. Full details are available in the documentation we issue to all owners, both guiding principles as well as the specifics. If the co-ownership were technically a Racing Partnership, then two partners would have to become “Nominated Partners” and that is potentially onerous for them. We prefer to share risk rather than put it on to two people.
Apologies if all this sounds a bit legalistic and bureaucratic. However we feel it is very important for our owners to understand and approve of all decisions relevant to the horse and their ownership of it, and one element of this is the requirement to become a registered owner.
Hopefully, you will be sufficiently interested in the approach of Owners for Owners to contact us as soon as possible and discuss involvement. Just call Jon Hughes on +44 (0)1451 850780 or +44 (0)7958 763159, or drop him an email at firstname.lastname@example.org.