Terms & Conditions
These are the terms and conditions upon which DLF Holdings Limited trading as RaceShare (Registered in England & Wales No. 14019440 and whose registered office is at Lushington House, 119 High Street, Newmarket, Suffolk, England, CB8 9AE (referred to as “RaceShare” or “we” or “us” or “our”) accepts the offer from any party wishing to acquire a share or shares of a racehorse as part of a “syndicate” that owns that racehorse (referred to as an “owner” or “you” or “your”), to enable such owner (and any other owner of a share in that horse (also referred to as an “owner” or in the plural as “owners”), to have a high-quality ownership experience, at an affordable price, to help grow racehorse ownership and general interest and engagement in the sport of horse racing.
To view our microshare syndicate Terms and Conditions, please click here.
To view the Racing TV Syndicate horse Terms and Conditions, please click here.
If you have any questions please see our FAQs on our website www.raceshare.com or contact us by email at info@raceshare.com.
Ownership of a share or shares in a 40, 100 or 500 share horse:
By placing your order for shares, you offer to purchase a given number of shares in a horse subject to the following terms and conditions, and that offer will only become a binding contract once RaceShare has issued to you an order acknowledgement that confirms the number and percentage of shares purchased in the horse.
The ownership of each horse is divided into 40, 100 or 500 shares and the total of all these shares make up 100% equity ownership of that horse. This ownership is for an initial fixed period, as set out in the order acknowledgement.
Owners do not have any rights to sell, lease, transfer or assign their share in a horse other than as stated in these terms.
Each owner who is not an existing account holder with RaceShare agrees to create an account at www.raceshare.com in order for RaceShare’s management to fulfil their obligations to the owners as laid out in this service agreement.
The amount payable by you for your share, relates to the corresponding percentage of your ownership of that horse, and is put towards the costs for the purchase, training and running of the Syndicate. The fees for all training, racing and veterinary costs, plus RaceShare’s service fees (hereafter known as “the monthly fees”) are payable monthly by direct debit, commencing on the date set out in the order acknowledgement. In the case of an owner purchasing a share after the start of the fixed period, the full monthly instalments since the start of the fixed term will still be due. There is a clear breakdown of costs on the horse in the order acknowledgement, as well as on our website.
RaceShare reserves the right, should costs rise, to increase the monthly fees by a maximum of 5% at the end of the initial fixed term, and annually thereafter. Owners will be informed 28 days in advance of any such change to the monthly fees.
All owners must be aged 18 or over, and by placing an order you certify that you are over the age of 18.
Horse management
RaceShare will make the final decisions relating to the horse and race plans, general management and operations, but we will always aim to share these proposed decisions and gather feedback from owners to inform our decision making.
The horse will not have mortality insurance.
Each horse that runs outside the UK is at the additional expense of the syndicate that owns shares in it. But RaceShare’s position is that a horse is only expected to run outside the UK if that race has enough prize money to cover the additional costs.
Ownership management
RaceShare through its management service will ensure that you receive the full ownership experience that any other racehorse owner would enjoy (proportionate to the shares held by you in any horse). These will include:-
information on the horse through a range of communications;
the opportunity to visit the horse at the trainer’s yard and the opportunity to watch the horse run at the races as an owner;
owners will be invited to attend a stable visit on the dates set by RaceShare.
where more shareholders want to attend a raceday than owners’ badges are available, then a draw will take place with each share of each owner’s holdings being put into a draw, thereby ensuring those with a bigger investment will have a greater chance of attending whilst also allowing single shareholders the chance to attend.
RaceShare will always seek to obtain the maximum number of complimentary owners’ badges and, where appropriate, will seek to negotiate discounts on additional badges.
a pro-rata share in the net prize money won by the horse after deduction of entry fees and any net proceeds from the sale of the horse.
VAT Registration
RaceShare will register the Syndicate for VAT. VAT reclaimed quarterly will be refunded to the Syndicate Bank Account, and as the purchase price and monthly fees charged to owners do not include VAT, reclaimed amounts will not therefore be passed on directly to shareholders.
Prize money
All net prize money (excluding VAT) earned by the Syndicate Horse during the syndicate term applicable to that horse will be distributed as follows:-
The sum allocated to you or any other owner will be the pro rata share for the share held by each owner, 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 which is held under the name of DLF Holdings Ltd t/a RaceShare, and the signatory on the account will be one of its directors.
Prize money and any associated amounts won by the horse after deduction of entry fees by October 31st each year, will be deposited into an owner’s RaceShare account on November 30th of that year, and that amount can either be withdrawn or retained within the owner’s RaceShare account. Should the syndicate be terminated at an earlier date, due to the horse being sold or retired, then RaceShare will endeavour to distribute shareholder funds at an earlier point.
If the Syndicate Horse wins £50,000 or more, RaceShare will review the position and consider distributing funds earlier.
Sale of the Syndicate Horse
RaceShare reserves the right to make decisions as to whether a horse is sold at public auction, and to communicate that intention to the horse’s owners no later than 14 days prior to the sale.
In the event of a private offer being made for a horse, owners in the syndicate will be asked to vote on whether to sell or keep the horse and each share in the horse entitles the owner to one vote. The sale will proceed if 55% or more of the votes cast agree to the sale.
If an owner does not cast their vote, then RaceShare’s management reserves the right to cast the vote on their behalf.
In its conduct of any sales, RaceShare will abide by the Bloodstock Industry Code of Practice.
A horse may be entered for 'selling' or 'claiming' races and RaceShare reserves the right to make decisions on this matter if all owners are not in accord.
- RaceShare will charge and deduct a commission of 5% + VAT of the sale price of the horse. The remaining balance after deducting that commission, will then be distributed amongst the owners of that horse pro rata to the number of shares held by them.
Extension of the syndicate term (please also see next section for amended terms from January 20th 2026)
If at the end of the initial fixed period, an owner wishes to terminate this Agreement, then one month’s notice in writing should be given to RaceShare.
In the event of an owner terminating this Agreement, then subject to the minimum initial fixed term period stipulated above, and if the owner has not found a replacement owner for their share, RaceShare will undertake the following procedures:-
offering the share(s) to existing shareholders on a first come, first served basis; and/or
offering the share(s) for sale to new shareholders on raceshare.com.
shares will be sold in the following sequence- firstly, any unsold shares remaining from the initial syndicate term, then in date order of the written one month's notice from any current owner (oldest first).
The proceeds of any sale and the pro rata prize money won after the termination date will be paid to the original owner, after deducting any monthly payments due since the termination of the Agreement.
- If any share has not been sold to a new owner within 4 months from being made available for purchase, then the capital value of that share shall be deemed to be zero and RaceShare will be deemed to retain ownership of that share and:-
be fully responsible for the monthly payments attributable to that share since the termination of the agreement;
be liable for all costs relating to that share; and
be entitled to all rights to prize money and rights of ownership attributable to that share.
In this event, the original owner will be paid the pro rata prize money won since the termination of the agreement after deducting the monthly payments due since said termination.
For any new horse launched on or after January 20th 2026, the above terms (“Extension of the syndicate term”) are amended as follows-
If at the end of the initial fixed period of monthly payments, an owner wishes to terminate this Agreement, then one month’s notice in writing should be given to RaceShare.
In the event of an owner terminating this Agreement, then subject to the minimum initial fixed period stipulated above, and if the owner has not found a replacement owner for their share, the company will advise the owner if RaceShare are in a position to purchase the relinquished share(s), although RaceShare does not offer any guarantee to make such an offer.
If RaceShare agrees to purchase the share(s) then:
- The proceeds of the purchase and the pro rata prize money won prior to the termination date will be paid to the original owner, after deducting any monthly payments due since the termination of the Agreement.
If RaceShare is unable to purchase the share(s) then:
- The capital value of that share shall be deemed to be zero and RaceShare will be deemed to retain ownership of that share and be fully responsible for the monthly payments attributable to that share(s) from the termination of the Agreement; be liable for all costs relating to that share(s); and be entitled to all rights to prize money and rights of ownership attributable to that share(s).
- In this event, the original owner will be paid the pro rata prize money won prior to the termination of the Agreement.
If at any time after the initial fixed period RaceShare holds ownership of 25% or more of the shares, then the company reserves the right to enter the horse in a public auction or offer it for sale by private tender, with the intention of terminating the syndicate. In this event, one month’s written notice would be given to the remaining owners.
Retiring and re-homing of the Syndicate Horse
If a trainer recommends that a horse is not fit for the job of being a racehorse, either through injury or a lack of aptitude, RaceShare will have the final decision as to whether to retire, sell or re-home the horse.
Normally in these situations a horse will have little residual value. If RaceShare believe that it will have value, then a sale would be progressed and full legal and beneficial ownership in all shares in that racehorse (i.e. all rights of ownership) will automatically pass from all of its owners of that syndicate to the new owner.
If however, RaceShare believe that it will have no value, then RaceShare will be deemed to be appointed as the owners’ agent irrevocably for the purpose of transferring the legal and beneficial ownership in the horse to a rehabilitation centre (or new owner).
Owner responsibilities
Each registered owner of a horse will have the following responsibilities and obligations which will be enforced by RaceShare where necessary:-
Any person banned or ‘warned off’ from any racing authority may not become an owner.
You may not use information given about the horse to take advantage of potential poor performance of the horse (e.g. betting on the horse to lose). Additionally, owners will be subject to, and regulated by, certain provisions of the Rules of Racing (which may be subject to change from time to time on notice by the BHA to the Syndicator); but specifically the chapters (J) Integrity and (L) BHA Investigations and Disciplinary Actions.
Owners are expected to behave respectfully and politely when at any events or race days.
Owners shall do nothing which RaceShare reasonably considers to be prejudicial to RaceShare’s goodwill, reputation and/or commercial interests.
Ownership is not an investment opportunity. It is a fun hobby from which you should not expect to make any financial return, and no guarantees whatsoever are given by RaceShare as to the performance of a horse or any share in a horse.
When attending yard visits at trainer’s premises or attending the races with RaceShare as an owner, RaceShare will not be liable for any personal loss or injury. You attend these events at your own risk.
In the event a shareholder acts in any way contrary to the terms of clauses 31 or 32, then RaceShare on written notice to the owner, reserves the right to forfeit the owner’s interest in the horse. In the event of forfeit in accordance with this clause, the owner shall not be entitled to any refund of the purchase price or any prize money which falls due after the date of the notice issued by RaceShare.
Non-payment of monthly fees
In the event that a shareholder falls more than one monthly fee payment in arrears without the prior consent of RaceShare’s management and fails to remedy such default within 7 days of receiving written notice, then RaceShare reserves the right to forfeit the shareholder’s interest in the horse. In the event of such forfeit, the shareholder shall not be entitled to any refund of the purchase monies but will be entitled to their pro-rata share of net prize money won prior to the forfeit date, after the deduction of said arrears. RaceShare reserves the right to file a non-payment report to the BHA in accordance with clause 6 of their syndicate code of conduct.
Intellectual Property
All Intellectual Property, including, without limitation copyright, design rights, know how or any other intellectual property rights relating to the image and name of any horse, any logo or racing colours associated with that horse and in any documentation or other material produced by RaceShare is and shall remain legally and beneficially owned and vested in RaceShare only.
General matters
RaceShare reserves the right to amend these Terms and Conditions at any time subject to notice being published on its website and given to each registered owner.
Any personal details of an owner held by RaceShare will be held and dealt with in accordance with our privacy policy, a copy of which is on our website.
BHA and Weatherbys may require your personal details, to allow us to register the syndicate and list all the owners for each horse. You therefore authorise us to disclose such personal details to them and these will be held and dealt with in accordance with their own respective privacy policies.
Any notice or other communication given to either an owner or RaceShare shall be in writing, addressed to that party at its registered office (in the case of RaceShare) or such address of an owner as is notified in writing to RaceShare, and shall be sent by pre-paid first class recorded delivery post and be deemed to have been received on the second working day after posting
No one other than a party to the contract between RaceShare and an owner, shall have any right to enforce any of its terms under the Contracts (rights of Third Parties) Acy 1999.
Any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with agreement between RaceShare and any owner shall be governed by and construed in accordance with the laws of England and Wales and dealt with as follows:-
(a) the parties should initially use reasonable endeavours to try and resolve the same between themselves;
(b) failing such resolution, each party should make written submissions of their position on that dispute to the Ownership department of 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, and the BHA shall provide its determination on that dispute in writing to the parties; and
(c) if either party has reasonable grounds to challenge such determination, then they may refer that dispute to courts of England and Wales PROVIDED THAT if such challenge and referral are deemed by the Court to have been unreasonable, then the party issuing such proceedings shall bear the costs of both parties in connection with such proceedings.