Syndicate a Horse with Clanbrooke
Over the last few years Clanbrooke has received numerous enquiries from Stud masters, Trainers and Owners in relation to Clanbrooke Syndicating on their behalf. Given our experience and existing infrastructure, we have increasingly taken this on and now believe it is a fundamental component of our business. In order to give owners a better understanding of how Clanbrooke operates, we have developed the following set of guidelines in relation to Syndicating your horse:
1. We generally Syndicate 10 share Partnerships and Syndications are limited to a maximum of 20 shares.
2. Both Clanbrooke and the third party agree on a “potential purchase cost” for the horse prior to any work being undertaken.
3. As Syndicators, Clanbrooke must provide independent valuations and this must take place prior to any work proceeding. The subsequent “purchase price” must fall within these parameters.
4. As Syndicators, Clanbrooke must also obtain a vet certificate that states the horse is sound and fit for racing, prior to any work proceeding.
5. Photos must be taken as well as a video where possible. Both are to be displayed on the Clanbrooke website. Sirecam will bill the owner directly for the filming.
Advertising
Clanbrooke generally budgets $1500-$2500 for advertising, at owners cost. However, we will deduct this amount from the proceeds of the first share sold. If no shares are sold, Clanbrooke will split the advertising bill 50/50 with the owner.
Clanbrooke has an informative website that represents our pivotal marketing tool. Horses are also listed on www.galloper.com.au as well as the Racing Victoria website in the appropriate `owners’ area. Periodically or at owners request, we will also advertise in the Winning Post or a racebook, where appropriate.
Trainers
Clanbrooke reserves the right to have the ultimate say in relation to the chosen trainer, provided the decision is agreed upon prior to advertising. To ensure the chosen trainer is chosen for your horse, it is necessary to take into account the cost of the share purchase as well as the projected distance at which the horse will race.
Payment
Clanbrooke will pay owners the agreed price per share within 14 days of full proceeds being received. As three monthly payments are a regular incentive for our high-end shares, full payment may take up to three months to receive from the initial sale of the share.
Breaking In
Clanbrooke advises that horses be broken in before Syndication for two reasons:
- the horse looks better in the photos and video
- it ensures a quicker sale
Time
We expect to have horses on our books for three months, at which time we re-evaluate the progress. If no shares have been sold, we reserve the right to remove from the site or, if a few shares have been sold, we may renegotiate an ongoing plan.
Management
Clanbrooke manage horses for Brian Jenkins, Brian Cox and Tony Vasil. If a small number of shares are sold, we reserve the right to have the trainer direct bill the owners. In the case that the trainer is directly billing owners, Clanbrooke can provide a web update service for $100 per month.
Insurance
Under Racing Victoria/ASIC Rules, any Syndicated horses must be insured when offered for sale and it is the responsibility of the owner to ensure that the horse is insured when shares are advertised. If uninsured, we can recommend an Equine insurance Company from whom we receive rates. If already insured, the owner must provide a copy of the insurance policy. It is Clanbrooke’s policy to insure for the first 12 months of the Syndication after which individual owners can elect to either continue or discontinue insuring their share.
Unsold Shares
Owners must agree to carry any unsold shares at the expiration of the advertising period. This is not negotiable.
