Group Equine Racing - Terms and Conditions
Although the most boring part of what we do here at Group Equine Racing it is important that you read and understand the T&Cs to protect both parties - thank you.
Our Aims:
We aim to provide members with the thrill of involvement in horse racing at a fraction of the cost of individual ownership. Membership of the syndicate should be seen as a way of enjoying involvement with horses and horse racing and is not designed to be an investment opportunity. The health and wellbeing of Syndicate horses will be a priority at all times.
Syndicate Name and Registration:
The syndicate name is Group Equine Racing and all race entries and declarations will be made in this name. The syndicate is registered with the British Horseracing Authority (BHA) and Weatherbys Bank.
All horses will be owned by Group Equine Ltd plus any partners (eg: the trainer).
The Syndicate will be managed by a syndicate manager appointed by Group Equine Ltd. Group Equine Ltd who will be responsible for all management, administration and liaising with BHA and Weatherbys.
No member should engage with BHA, Weatherbys, racecourses, the trainer, media or any other body on the syndicate's behalf or on related racing matters.
Membership of the syndicate is available to all provided payment is made and kept up to date if paying by instalments.
Your membership period will be detailed on the purchase page and provided on your membership certificate.
Membership is non-refundable and non-transferable. Member's subscriptions will be used during the year to pay for all costs related to the horse.
Membership benefits include:
An opportunity to follow your horse. Information on training progress, race plans, and entries will be provided via a private WhatsApp group for each syndicate, social media and the Group Equine Racing website.
An opportunity to be involved with an upcoming trainer.
Any prize money won by the horse(s) will be distributed amongst the Members at the end of each syndicate term in accordance with the terms and conditions herein.
Any sale proceeds relating to the disposal of the horse will NOT be distributed amongst the members in accordance with the terms and conditions herein. This is due to the syndicate horse being leased to us by the owner for the length of the syndicate term.
An opportunity to attend the races as an owner when the horse runs. Racecourses often limit owner’s badges to 6/8. Members will be invited to enter a draw to attend a race meeting with a complimentary owner's badge. Members are also welcome to buy general admission badges directly from the racecourse.
An opportunity to visit the trainer’s stables to see the horse on the gallops and meet the trainer and the stable staff. We aim to arrange at least two stable visits per annum. Details of dates and times will be communicated and members will be asked to confirm their interest in attendance. All arrangements are at the trainer's discretion and must comply with external regulations such as Health and Safety and rules/advice relating to Covid 19.
If the horse is injured and unable to run for a significant period or a lease horse is returned to the owner. The syndicate management and trainer will try to find a replacement wherever possible but cannot guarantee this.
It should be stressed that membership is primarily a source of entertainment. It is not an investment opportunity and cannot be utilised for any commercial purpose.
Finance:
Group Equine Racing will procure a racehorse for the syndicate by leasing it from the owner and shall be responsible for all financial matters including typical payments shown below.
Membership income will be used to pay all costs relating to the horse and will usually cover (but not limited to) :-
Training costs
Lease costs
Veterinary/dentist/farrier/physio fees
Race entry fees
Jockey fees
Transport costs
Groom and trainer’s race day expenses
any other costs deemed to benefit the health/welfare of club horse(s) and/or benefit club members
Management fees
Prize money won by the horse during the period of membership will be distributed amongst members at the end of the membership term and in accordance with your membership holding. In order to qualify for any prize money you have to be a member of the club horse at the time of the race. There cannot be a guarantee of any level of prize money, which depends on how well the horse performs on the racecourse and the number of members at the date of the race. The sum distributed per specific race is determined by the net amount paid into the Syndicate bank account by Weatherbys / BHA less the raceday expenses such as entry fee, jockey fee, travel and groom fee.
For people who have bought "The Stable 6", 0.16% of the prizemoney won by each of the 6 horses will be allocated to that member.
If the management of the Syndicate believes, at any time, there are insufficient members to fund the Syndicate’s activities at a level consistent with its objectives, then the management reserves the right not to proceed with the Syndicate’s activities and refund all subscriptions without interest pro rata to membership period remaining.
Please note that membership cannot be sold to third parties.
The management of Group Equine Racing has carefully planned for the Syndicate to have a successful future, but should the club be dissolved or disbanded for any reason, any outstanding fees owed to Weatherby’s or HMRC will be paid as a priority.
The management of Group Equine Racing reserves the right to terminate or suspend the membership, with immediate effect at any time, of any individual(s) whose conduct, in the opinion of Group Equine Racing’s management, is damaging to the interests or profile of the Syndicate or is offensive to other members, staff or representatives.
There will be no reimbursement of membership fees should a member wish to terminate their membership.
Risk Accepted by Members
In view of the unpredictable nature of horse racing, save as set out expressly in these Terms and Conditions, no guarantees or warranties whatsoever are made by Group Equine Ltd. The health and well-being of the Syndicate’s horse will take priority at all times and will be at the forefront of decisions.
Group Equine Racing reserves the right to amend these Terms and Conditions at any time.