Weekly Update 02-04-20
By BG Racing Syndicates On 2nd April 2020
Another week, locked down at home with my wife, but no signs of divorce yet and we are eating some really good home-cooked food! We are hosting a video conference quiz night this evening for several friends and we are getting into the quiz-night spirit by ordering pizza delivery. Our first takeaway for just under two weeks, which is new personal best and one we are would be unlikely to beat for a while in normal circumstances, but who knows how long the current situation will persist!
I have been busy doing some work for my old employer which has brought in some much-needed income and I have spent a lot of time on the phone and video conferencing with shareholders, friends, family and business contacts, so some good has come of this in that I have spoken to some people that I may have not caught up with had this not been going on!
If you know of anyone that might be interested in getting involved in ownership (and yes I am aware that for many, now will not be a good time to get involved), it would really help me if they chose to get involved, so please put them in touch with me. right now, my priority is sharing some of the costs (as I have to meet the costs of unsold shares) more than it is about making an income, so I will do them a great deal and I will make sure that they have a great experience when we get through this!
Details of the horses and these can be found in a document on the website here and you can contact me, via the website contact page if you want any more information. I should also point out that irrespective of the price paid for shares, if the actual costs are less than I factored into the share price (and they are likely to be if racing is suspended for a long period), then all shareholders receive a proportionate rebate of their fees at the end of the period.
Suspension of Racing and The Impact on Us
The BHA working party has prepared a plan for the resumption of racing when they get a go-ahead from the government to do so. This suggests that specific flat racing fixtures, probably with no paying customers will be the first thing to be organised. These will probably have restrictions on attendees. These restrictions will be eased over time and jumps racing will also be introduced in a phased manner.
With the likelihood that the first racing will be flat racing and that when this happens, we will know that jump racing may follow a few weeks later, I spoke to Neil Mulholland earlier in the week and we have decided to back off with all of the jumps horses. We had already made that decision with Dynamic Kate, but now we have decided to take My Brother and Fr Humphrey out of full training. Both are pretty fit and will not lose too much condition by having a break and Neil feels that there will be enough notice of jumps racing returning that he can get them both back into training and back to some kind of fitness at or before it restarts. In the meantime, this reduces their daily training fee which in turn means more money to rebate to shareholders at the end of the period if this drags on. It is a bit different for Silver Imperial as there may be races that she can run in, soon after any resumption, so we are keeping her ticking over for now.
Fr Humphrey & Mount Oliver
We are still waiting on getting Mount Oliver sent back to Ireland and still hoping that there will be enough jumps racing to ensure that keeping Fr Humphrey for another six months was the right decision. As mentioned above, Fr Humphrey will do a bit less for the next couple of weeks but hopefully, he will still be OK to run soon after a resumption in jumps racing.
As mentioned above, all is fine with Silver Imperial and she is still working away at Michael’s.
I do still have some shareholding left and fees for her cover the period to 31st December 2020. Under the circumstances, I am prepared to significantly reduce my management fees for anyone who is prepared to purchase shareholding whilst racing is suspended. Please contact me if you are interested as this is a deal I am unlikely to be able to repeat in the future and it will certainly be altered as soon as a resumption of racing is set.
My Brother will spend a bit more time on the walker rather than cantering and galloping and we will continue to review his workload.
As with Silver Imperial, I am prepared to reduce my management fees heavily during the suspension of racing, so this is your chance to get hold of a shareholding at a discount. New shareholding was £65 per 1% share (£300 for 5% and £550 for 10%) and the training fee to October 2020 was £250 per 1% share (£1150 for 5% and £2100 for 10%), but if you contact me now, I will sort you out a discount on a horse that could well be worth much more once he gets back racing.
As previously communicated, Dynamic Kate is now having her summer holiday. It is still too early to be turning her out, so she is still stabled and exercising daily on the horse walker. She will be ready to hit the ground running and race in the Autumn before the shareholding renews. She was just £250 per 1% share (£1150 for 5% and £2100 for 10%) covering the period to 31st October 2020. I will be able to discount these fees if you contact me now.
If you are interested in finding out more about what is involved, then please do get in touch as I would be delighted to discuss things with you.
I also have an e-book entitled “Racehorse Ownership – Everything You Might Have Wanted To Know But Would Not Have Known Who To Ask“. This is free and the download page can be accessed here.
Have a great week.
2 months ago / Comments Off on Weekly Update 02-04-20