Tuesday 14 August
We are making an important change to our Nick Brown Racing syndicates. The horses that run under the Nick Brown Racing ownership are mainly owned/leased by 25 strong ownership groups (apart from Land League who is a 12). When we put together the first of these groups it was possible to buy a nice horse for £10,000 - £15,000 and have a lot of fun at the races. This meant that we could syndicate a nice horse for £500 per share plus the standard (all inclusive) £25/week training/keep fee. Over the years horses have become more expensive, and now horses that could be bought for £10,000 a few years ago are now fetching double that. Over the years I have even been known to syndicate horses at less than I have paid for them, in an effort to keep folks involved. Now we have had to call time on this size of ownership group. We have noticed that recently there has been a huge increase in the number of people offering shares at this sort of level, with horses that we would not consider good enough for us. We pride ourselves on the quality of the horses we buy, and although they can't all be superstars, last year we notched up a 20% win/run ratio - with nearly 70% finishing in the first 4. We do not think it is reasonable to ask members to pay £1,000 + for 4% shares, which is what it now costs to get anything half decent. We also put great importance in the ownership experience - which means badges for all owners attending, and although most courses are great for syndicates, it is a tough job to get 25-35 folks into the paddock when their horse runs, and we do not want to be forced into balloting O&T Badges for members, as we have always been proud of being able to offer the full ownership experience no matter of a member merely has a 4% share in a horse. We have had some great times with our 'Club' horses, including Dawn Commander, Cloonacool, and Kaloci, but sadly we have to limit ownership groups to 12 from now on - and the 4 yr old half sister to Kaloci will be the last one offered on these terms. There are still 5 shares available in her - so be quick if you want to take advantage of the £25/week terms! It is a real shame that we have had to do this, but I am sure that you will all understand the reasons - it would be easy to continue, and buy substandard horses - but that would not be fair on either party, so we have come to this decision.