The syndicate

Whose silks will the horse run in?

All RaceShare syndicate horses will run in the RaceShare bespoke silks. We worked with designers to create bespoke silks with our own unique gold braiding on the front. The description of the silks is black, with white sleeves and gold vertical braiding on the body, black cap with gold star. To see a visual of our silks go to the About Us page.

What if I change my mind and want a refund?

You have 14 days from when you purchase your share/s to request a full refund. To request a refund please email info@raceshare.com.

Will there be a chance to vote on decisions as part of a syndicate?

There will be circumstances, such as whether to sell a horse or not, in which a vote relating to a syndicate is called for. We will always do our best to send very clear communication on this and what action is needed, but if an owner fails to vote by a given deadline, their right to vote in that instance is forfeited.

When all votes received result in a split vote, RaceShare will make a casting vote.

What insurance cover does RaceShare offer its owners?

RaceShare has a public and products liability insurance policy in place, with a £10million limit of indemnity, designed to protect owners against compensation claims and legal costs if a horse causes damage or serious injury to a third party. The cost of this policy is met by RaceShare.

Will our service fees be the lowest in the industry?

At RaceShare we have made our service fees extremely competitive. Across our five horses, the service fee averages out at 27.9% of the share price. Following a review, we believe this is the one of the lowest, if not the lowest, cost percentage within this sector.

Does RaceShare fully comply with the British Horseracing Authority's Syndicate Code of Conduct?

Yes, the British Horse Racing Authority have checked our T&C’s and passed them as compliant. Click here to read the Syndicate Code of Conduct.

The Racing TV Members syndicate, powered by RaceShare - Lir Speciale

Whose silks will the horse run in?

Lir Speciale will run in the RaceShare bespoke silks. The description of the silks is black, with white sleeves and gold vertical braiding on the body, black cap with gold star. To see a visual of our silks go to the About Us page.

How many shares are in Lir Speciale?
Every Racing TV subscriber who opts-in and becomes an owner in Lir Speciale will own one share in the horse. Therefore the number of shares will be totally dependent on the number of Racing TV subscribers who choose to become owners. 

How long does the syndicate term last?
The Lir Speciale syndicate will run until October 31, 2024. Racing TV and RaceShare hope to continue the syndicate after this date. For more details on what could happen if the syndicate doesn't continue after this date, please read the Terms and Conditions. 

Are there any costs involved to Racing TV subscribers who become owners in Lir Speciale?
There are absolutely no costs to owners at any point during the syndicate term.

What happens to any prize money Lir Speciale wins?

All net prize money earned by any horse during the syndicate term will be distributed as follows:

 - For every race that the Syndicate Horse competes in, an owners ballot will take place between all the owners who have chosen to apply for a badge in the ballot, to attend the race day and watch the Syndicate Horse run. Those owners who win an owner’s badge, and attend the race day, will then receive a pro-rata share of the prize money won in that race. 

 - The sum allocated to you or each other owner will be the pro rata share for the prize money won in that race, split between the number of people who won an owner’s badge for that specific race, of the net total paid to RaceShare by Weatherbys or any similar organisation in Ireland or France. Such payment less any race day expenses such as entry/supplementary entry fees, trainer fees, and jockey fees will go directly into the horse’s bank account with Weatherbys.

 - Net prize money also includes any appearance money contributions and bonuses won.

 - There can never be any guarantee of any horse being successful and winning prize money.

For full details on the Racing TV Members syndicate, powered by RaceShare  - Lir Speciale syndicate Terms and Conditions please click here.

The horses

Who names the horses?

If a horse is unnamed upon purchase, then either the RaceShare team will name the horse or we will sometimes open this up to syndicate owners to submit their suggestions. But the final decision on a horse name will be with the RaceShare management team.

Who decides where and when my horse will run?

All decisions relating to the training, entries and declarations of a horse are made by the trainer. We will aim to share this information and the decision-making process with you through various media channels so that you are in the know on how your horses are doing and what plans are being discussed, and why. It’s a really interesting journey which we look forward to sharing with you.

Can I get a refund if my horse doesn’t run?

If a RaceShare horse fails to race for any reason, there is no refund of the capital value. However, there will be a pro-rata refund of the associated costs that remain unused if, for example, the horse comes out of training, is rehomed or sold.

Whilst the aim of the company is to invest in the best possible thoroughbreds, based on buying horses that display excellent physical and temperamental qualities, aligned to high-quality breeding, and being placed with leading trainers, there is still no guarantee of future success on the racecourse. Therefore, if a horse simply shows no aptitude for the life of a racehorse after 3 months, and on the suggestion of the trainer is sold or rehomed, then again a pro-rata refund (excluding capital) will be made.

Where the horse is sold that money will be distributed equally amongst the shareholders, proportionate to their shareholding.

How is the value of a racehorse determined?

RaceShare will purchase the majority of horses through public auction, at thoroughbred auction houses such as Goffs and Tattersalls. The price is public and this is the capital value that each share in a horse represents. If RaceShare does ever buy horses privately, we will always only ever syndicate a horse for the capital value we paid for it. Additionally, we will make available in an owner’s account section on raceshare.com all invoices relating to the private purchase of a horse. In our conduct at the sales we will abide by the Bloodstock Industry Code of Practice.

If we need to value a horse - for example, when a syndicate is up for renewal - we will follow a process of asking the horse’s trainer and an independent bloodstock expert for their opinions on what they think the horse would make at public auction.

Is there a chance my horse could be sold during the syndicate term?

There are a couple of scenarios in which a horse could be considered in a good position to sell:

  1. If a horse became very successful, we could receive an enquiry to sell the horse.

  2. Or, if a horse is doing very well/is not doing so well, and we believe it would be an opportune time to sell at one of the sales.

In either of these scenarios owners in the syndicate will be asked to vote on whether or not to accept the offer and sell the horse. Where 55% or greater of votes received by the specified deadline are in favour of selling, the company will proceed and if a sale is made, the company will deduct a commission of 8% + VAT of the sale price.

  • The remaining balance will then be distributed equally amongst the owners proportionate to the number of shares held, together with a pro-rata refund of the management and racing costs for the remainder of the syndicate period.

  • For the purpose of voting, each share held by an owner in the relevant horse counts as one vote. RaceShare may be standing shares in a horse, thus entitling the company to one vote per unsold share held. Where a tie occurs and a casting vote is required, this shall be decided by RaceShare.

  • Votes will be conducted online, but any owners unable to access the internet to vote will be able to vote by phone.

  • If there is a scenario in which a syndicate agrees to sell a horse, or put a horse through the sale ring, the RaceShare policy will be not to buy back the horse.

Would the trainer ever consider running my horse in a claiming or selling race?

Occasionally a racehorse may fail to reach a reasonable racing standard and the company may recommend entry in claiming or selling races. Entry in a claiming or selling race will mean that any member of the general public may bid to purchase the horse after the race and, save for an instruction from RaceShare management for the syndicate to make a friendly claim (i.e. an attempt to buy the horse back) or to bid at auction after winning a selling race, the syndicate will close prematurely and pro-rata funds distributed to owners as per our stated policy. Due to the very short timescale involved it will not be possible to organise an owners’ vote in such circumstances, so the decision will be that of RaceShare’s management alone.

Who decides whether a syndicate horse should be retired?

The best interests of a racehorse are always at the forefront of the trainer's mind. When they recommend a horse should be retired, then the RaceShare team will review the position, but we would expect to agree.

What happens to a syndicate horse upon retirement?

The retirement and rehoming of a RaceShare horse is taken very seriously. Several options would be explored, based on the recommendations of the trainer, and could include re-training, full retirement, or a sale/gift into a non-racing career. We will work closely with our network of contacts and the RoR (Retraining of Racehorses) to determine the best route for each horse post-racing. If an owner in the syndicate would like to request they rehome a retired horse, we would give priority to these requests. If any syndicate Owner wishes to be considered for the gifting or purchase of any particular horse that is being retired, an application needs to be made to RaceShare, specifying the facilities available for keeping the horse and details of the applicant's experience with horses. The premises will need to be vetted and a non-racing agreement signed with the BHA, barring the horse from ever participating in horse racing again. The primary focus will be the horse’s welfare.

How are any rehoming costs funded?

Whilst RaceShare is often able to rehome a retired racehorse through its own contacts, there are times when a retired horse will be passed to a specialist Rehabilitation Centre. There may be additional keep costs/vet bills etc. to be paid after the syndicate has finished, but before the horse can be rehomed. Such costs are met by including a sum within each syndicate's annual fees. This sum is currently set at £500 per annum, per syndicate. This sum shall be described as the 'rehabilitation contribution', however, if the sum is insufficient to cover the costs, RaceShare shall meet the additional costs and not any individual syndicate owners. Retired horses are re-homed on the basis that they cannot participate in races again. Once re-homed, the ownership of a horse passes to the new owner, who is required to provide updates on the horses from time to time and when these are received, RaceShare endeavours to relay such information to previous owners (the syndicate's ex-members). Previous owners can't be provided with the new owner's names and addresses for data protection reasons.

What is the value of the retired horse?

When a RaceShare horse is retired from racing and the syndicate is closed, if the horse is deemed to have no future breeding value, the capital value of the horse is £0.

What happens to my horse when they are not in training?

When a horse is either on their holidays (usually in the Summer for Jump horses and the Autumn/Winter for Flat horses) or out of training due to injury, they will usually move from the trainer’s yard to a pre-training yard, farm or stud. Here they can spend time relaxing out at grass, usually in a field with several other racehorses.

A pre-training yard will then gradually bring them back to a basic level of fitness before they move back to their main trainer.

If a horse is in rehabilitation through injury, then they could be receiving treatment at the pre-training yard.

Each horse and their situation will be assessed on an individual basis and the best option chosen for them. We will always keep you updated on plans for each horse you own, and give regular updates on their out-of-training experience.

All holiday, rehabilitation and pre-training costs are included in your initial payment.

Will my horse be gelded?

If you buy shares in a horse when he is an entire (i.e he hasn’t been gelded), there is a possibility that when he is in training his performance is compromised. This is usually shown through behavioural issues and it can be a risk to the safety of staff. If a colt doesn’t look like having any prospects as a stallion, or the safety of staff and the training experience of the horse is at risk, it is a common decision to geld the horse. Our trainers will always advise us on the route they feel will be in the best interest of the horse and his career. RaceShare will make a final decision and notify owners. The vast majority of horses in training are gelded.

Will my horse be registered for all the bonuses available, such as GBB and IRE incentive schemes?

Unless specifically stated in the offer, the company offers no guarantee that a yearling will be registered under any bonus schemes.

Is my horse insured?

No, we don't insure the horses. However, this would be reviewed as and when a horse became highly valuable. In these circumstances we would discuss insurance options and costs with all owners, before deciding to run a vote on the decision on whether or not to insure a specific horse.

Is there a chance my horse could be good enough to be considered for breeding?

RaceShare is ambitious, and whilst it’s not expected that the majority of horses will become a valuable broodmare or sire proposition, we are focused on selecting and buying horses that have the pedigree, and potentially the ability, for that to become real.

If it became a realistic option that a horse could become a broodmare or stallion then RaceShare would propose this to all the syndicate owners. A vote would take place on whether to start a new breeding syndicate or sell the horse. If the majority of owners voted to keep the horse to breed from or stand as a stallion, then a new breeding syndicate contract would be discussed and created. If the majority of owners voted to sell, then the usual sales and payment distribution process would be followed.

Which jockeys will ride our horses?
RaceShare's trainers use some of the finest jockeys in the country. William Haggas most commonly uses Tom Marquand. Andrew Balding will be looking to renew his association with former champion jockey Oisin Murphy. Whilst John Quinn, Charlie and Mark Johnston and Venetia Williams all have a selection of top jockeys regularly in use.

The costs

What is the price per share made up of?

On each horse page on the website, and in each owner's RaceShare account, there is a clear price breakdown of costs as follows:

  • Capital purchase price of the horse. This is the sum RaceShare originally paid for the acquisition of the horse, including any commission. (Note: Where the capital value of the horse is deemed, by the company, to have increased or decreased since the date the company purchased the horse, the price of a share may be adjusted.)

  • Vetting costs relating to a veterinary examination of the horse prior to purchase.

  • Transport costs relating to the cost of transporting the horse from its location at the point of sale.

  • 5% capital risk. When RaceShare purchases a horse, a considerable financial risk is taken by the company. Should a horse no longer be in a fit enough state to remain in racing, RaceShare will be forced to stop selling shares before they have all been sold, resulting in a loss for the company. To account for this, a capital risk charge is applied, set at 5% of the purchase price. This is non-refundable if a syndicate sells out and therefore does not result in a loss for RaceShare.

  • All racing costs. This includes training fees, entry/declaration fees, veterinary fees and all other racing/horse costs. This amount is usually set at around £38,000 per syndicate, per annum.

  • Service fee. This figure includes managing and marketing the syndicate, which will include providing rich, accessible content for syndicate owners, frequent videos, audio updates, imagery and RaceShare TV to allow all owners to be part of the raceday action even if you can’t make it to the races.

  • RaceShare post-racing fund. The per-share contribution is calculated pro-rata at £500 per syndicate, per annum. This fund is used to help rehome any retired syndicate horses. Where the contribution amount raised is not used for whatever reason, it will be donated to RoR (Retraining Of Racehorses). 

What happens if costs exceed what RaceShare has allowed per share?

Where RaceShare’s actual costs incurred are greater than the set sum, no extra payment is sought and, conversely, where the actual costs are less than the set sum, no refunds are made.

Do I have to pay any further costs?

No. However, there are two scenarios in which RaceShare could decide to use prize money funds in a horse’s account, towards international travel or entry fees into better races, to progress the horse’s career - at no extra cost to the syndicate owner. The instances are:

  1. If your horse is performing to a level that the trainer recommends running the horse in a Listed race, Group race, Classic race or Heritage Handicap, or any race where the race entry fee exceeds £750. Then, in the first instance this amount would be taken from any prize money funds in the horse’s account.

  2. If your horse is performing to a level that the trainer recommended international travel for a race, prize money funds in the horse’s account would be used towards racehorse transport, race entry, fees and supplements, trainer, jockey and groom costs.

In the event that the costs for international travel or race entries are not covered by overall prize money won by the relevant horse in the syndicate period, the loss will be absorbed by RaceShare and therefore no further payment will be required from any Owner, in any event.

It is only expected that RaceShare would engage a horse with a foreign entry (and therefore using prize money won) if racing at Stakes level (Listed/Group races) upwards, and where prize money was significant. The horse in question would probably need to have enough prize money in its pot to cover the additional costs. The decision to enter and travel in these circumstances is that of RaceShare only.

The shares

Do I own a part of the horse?

Yes, your share buys you equity in the horse. All our horses are divided into a clearly published number of shares. You can buy from 1 share up to 250 shares per horse. We register the names of all the shareholders that make up the 100% equity ownership of the horse with Weatherbys and the BHA.

How many shares is each horse divided into?

Each horse is divided into between 2,500 and 5,000 shares and this is clearly stated on the Buy Shares page of our website.

How long does the share term last?

Our share terms usually last 12 months, unless advised otherwise, but have a fixed end date. For example, if you buy your share 2 months into the term, your end date will still be the advertised fixed 12-month end date, 10 months later.

What’s the maximum number of shares I can buy in any one horse?

250 shares per horse, in as many horses as you wish.

What happens to my share if I die?

In these circumstances, your share(s) will pass to the personal representatives of your estate. A copy of a death certificate will be requested by RaceShare to complete a share transfer.

Can I expect to make a return on my investment?
Buying with RaceShare should be for entertainment and is not recommended for investment purposes.

The renewals

What happens if I don’t renew my share after 12 months?

If you don’t want to continue as an owner in the horse after your term is up, upon application to the office, RaceShare will try our best to find a new owner for your share/s and we will refund you the equity amount that someone is prepared to pay for that share. If after four months and having done our best to promote the shares available, we can’t sell your shares, or you otherwise fail to renew then we determine that they have no market value and RaceShare takes on the equity (and running costs) of those shares.

What happens at the end of the syndicate period?

Before the syndicate period is due to expire, we will give an opinion as to whether or not the horse should be retained and a new syndicate formed. Owners will then be invited to decide whether or not to continue into the next syndicate period.

All owners in the syndicate will have two options:

  • to renew their share at the end of any share term, which will be to make a payment for the new share term (expected 12 months) covering the ongoing fees to keep the horse; or

  • to not renew their share and no longer be an Owner in the horse. Where an Owner doesn’t renew, we will endeavour to resell the capital value of that share, and where successful, will return the capital amount to the lapsed Owner.

Will the quantity of shares being sold in the new syndicate always be the same as the previous one?

Yes, save for occasions when an insufficient number of shares are renewed and a new structure with fewer shares is formed for the new syndicate. We will never restructure the syndicate with more shares than before, because that would devalue every owner’s shareholding in the horse.

What happens if not all owners want to renew in a syndicate?

In these circumstances, RaceShare would decide if the syndicate is still viable and would then either:

  1. Determine that it is not viable, and refund any customers who had renewed their shares, pro-rata.
  2. Decide it is viable and that RaceShare is prepared to stand the financial liability of the unsold shares and market them for sale. Please see Terms and Conditions Clause 14 for details

I own multiple shares in the horse, am I obliged to renew all of them?

No, there is no obligation to retain all of the shares owned in any horse.

What happens if I don’t renew my share(s)?

Owners who have not renewed their share(s) before the end of the syndicate period will cease to receive any share of prize money won by the horse in races after that date and will not have any liability for, or involvement in, the relevant share(s) in the new syndicate period. We will endeavour to sell any relinquished share(s) on an owner's behalf and where successful, will credit the owner's account with a sum representing the relevant pro-rata sum of the achieved whole capital value of the horse.

What happens if I lapse completely as a RaceShare customer and have no active shares?

Owners who have not renewed their share(s) in a syndicate will have 24 months to withdraw any winnings (or credit balance) from their RaceShare account. Any balance remaining after 24 months will be donated to the RoR (Retraining of Racehorses).

The experience

What will I receive upon purchasing a share?

Owners can select to receive either a hard copy of our Owner's handbook in the post, or be emailed a digital version.

How do I receive updates on my horse?

When you purchase a share, you will be automatically enrolled in all communications from RaceShare. In your dashboard on the website you will be able to turn on/off the different forms of communication.

How soon after I purchase a share can I expect the horse to run in a race?

This will vary from horse to horse. For example, if we purchase a horse as a yearling (one-year-old) in October 2022, the horse cannot race until he/she turns two on 1 January 2023 and the first two-year-old races of the year are staged usually around the last week of March 2023 or first week of April 2023. If we purchase a horse as a two-year-old or older, theoretically they can run within a month, but it completely depends on each horse and their level of fitness (which we can only ascertain when they enter training with our chosen trainer) and other factors including suitability of upcoming races. We will communicate our expectations on this subject on the Buy Shares page.

Can I go and see my horse at the trainer’s yard?

Stable visits to the trainer's yard are organised during the syndicate term. We will aim to allow as many owners as possible to visit their horses, but we usually can’t accommodate all owners at a single event. In these scenarios we will open a ballot for tickets and will usually give you the opportunity to bring a guest. We will also live-stream these events for owners unable to attend.

Can I visit the yard if I am disabled?

At any event we will make every possible effort to accommodate all disabled visitors. Some stable visits are not entirely suitable for disabled visitors and therefore accessibility needs to be checked prior to booking.

Can I go and see my horse run at the racecourse?

Yes, we strongly encourage owners to come and enjoy a day at the races with us whenever your horses run.

Racecourses allocate a certain number of Owners’ badges for each horse. These permit free entry to the course, access to the paddock & winner’s enclosure, and use of the Owners & Trainers facilities. RaceShare will distribute these via a ballot. Each owner will receive one vote per share. For example, if you have one share in the horse, you get one chance, if you have 10 shares, you get ten chances.

We also hope to liaise with racecourses to try to obtain discounts on additional entry tickets for our owners wherever possible.

For health and safety reasons, racecourses impose restrictions on the number of people allowed into the paddock and winner's enclosure, so only those with an official owner’s badge will have access to these areas.

However, for those who don’t receive an owners’ badges we will arrange meeting points to meet and greet on the day. Here you will be able to receive news and feedback from the trainer, jockey and RaceShare management team, and share the experience together.

What happens if I can’t attend the racecourse on the day?

On a raceday we will stream RaceShare TV, a 40-minute live programme available to watch through your laptop/desktop or smartphone. We aim to bring to raceday experience to even if you can’t make it to the races. Owners will be able to sign-in and watch the programme as-live later at their convenience.

Are there other events I can attend as an owner?

RaceShare will also look to run other events, such as visits to studs, racedays, training centres, and other sporting events, during the year. If a charge is applied, it will only be at cost price to us.

What if I can’t attend any stable visits or events?

RaceShare will aim to stream live all stable visits and other events, where possible, so that all owners can be involved.

What happens if I want to make a complaint?

We take all feedback and complaints very seriously and would always aim to resolve any problems between ourselves and owners. However, if we are unable to resolve an issue internally, we recommend that you clearly detail the nature of your complaint in a written correspondence to the BHA (British Horseracing Authority) either by email to ownership@britishhorseracing.com or by post to British Horseracing Authority, 75 High Holborn, London, WC1V 6LS.

What happens to prize money and any trophies my horse wins?

100% of all net prize money during the syndicate term will be distributed as follows:

  • Prize money will be distributed once a year per syndicate. The exception to this will be if a horse wins £200,000 or more. In such cases, RaceShare will review the position and potentially look to distribute funds sooner.

  • The sum allocated per shareholder will be the net total paid to the Business by Weatherbys (this will go directly into the syndicate's Weatherbys bank account). Weatherbys administer racing under contract from the sport’s governing body, the British Horseracing Authority. 

  • Net prize money also includes any appearance money contributions, sponsorships and bonuses won.

  • There can never be any guarantee of a horse being successful and winning prize money.

  • A pro-rata share of any prize money won will be added to your RaceShare account at the end of the syndicate term for you to withdraw or use on rejoining the syndicate or buying shares in other RaceShare horses.

  • If prize money is not withdrawn or collected within two years it will be donated to either Racing Welfare or the RoR. 

  • Where a perpetual trophy is won, we will conduct a draw - based on one ticket per share - and the person drawn at random will be awarded the trophy.

  • RaceShare will always try to purchase a winning trophy or memento and will then select at random a winning owner who will then receive the item. Trophies that cost over £500 will not be purchased unless in exceptional circumstances.