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Weekly Update 03-05-20

By On 3rd May 2020

Another week passes, but the COVID press conference reports are starting to sound a bit more upbeat and hopefully by this time next week, we may have some confidence about when racing will return.  I have all the latest details from two further updates this week below and these are sounding quite positive.

Our Horses Update

I have spoken to Michael Attwater twice this week and exchanged messages with Neil Mulholland.  All of the horses with Neil are fine and doing well.  Neil sent through some video of Fr Humphrey and My Brother which I have been able to post for shareholders to watch. My Brother has not taken long to put on some weight, but he should get that off pretty quickly when he comes back into training in the next couple of weeks and he should be ready to run in late July or early August.

Fr Humphrey is in great form!  He was charging around his paddock exuberantly, hardly “veteran” behaviour.  Neil will bring him back into training with My Brother and hopes to have him ready to race when jumping restarts on 1st July.  The shareholding period ended on 30th April for him and I am busy sorting settlement and renewal details for shareholders.  We have however leased him for a further six months to 31st October and I hope that Humphrey can pick up where he left off.  He won his last race in November wand would have been close to favourite for the big race he missed in March.  He looks well enough handicapped and hopefully, we can find him some decent races and target some reasonable prizemoney in the summer.  Extending the lease was a risk for me given the possible cost to me if people are having a tough time and may not be able to renew.  I am keen to bring some more people on board with him and I have decided to reduce my admin fees on him to encourage that.  The shareholding will cover the period to 31st October and the rates will be £150 per 1% for small shareholders, £140 per 1% for shareholders who buy 5% or more and £125 per 1% share for people who purchase 10% or more.  Please get in touch if you would like to get involved.

Michael sent a couple of pictures of Silver Imperial on the gallops yesterday.  She continues to do really well and will be ready to race as soon as there is a race for her to run in.  We are looking forward to checking the programme for the first week of resumption.

Details of the horses can be found on the website (which will be given a facelift in the next couple of weeks) and you can contact me, via the website contact page if you want any more information.  I will be very happy to correspond by email or schedule a call.  It does seem that some people are keen to sort out some fun for when this is all over and I am offering some good deals on all the horses at the moment as my priority is more on sharing training costs (as I have to meet the costs of unsold shares) more than it is about making an income!  I will discount the fees quoted on the web pages.

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.

Resumption of Racing

Two updates were issued by the Resumption of Racing Group this week, the first on Thursday and the second on Friday.  Some European nations have resumed racing behind closed doors this week, including Norway. Germany will resume from next week and France is working on a resumption behind closed doors from 11 May.  Both have indicated that no foreign runners will be permitted until at least 1 June.

The provisional programme for the first seven days of racing following resumption – whatever the resumption date is due to be published this week.  It has again been confirmed that prize money values will be hit as there is no income for racecourses who normally contribute to prizemoney. Races will be restricted to experienced riders, which includes jockeys who claim a maximum of 3lbs and races will have no more than 12 runners.  Jump racing is still being planned for a 1st July return.

A provisional race programme for saving some major flat races was announced on Friday.  This all depends on restart dates, but at the moment, the big flat races are provisionally booked for the last two weekends of May.  Not all races will be held at their traditional venues, but most of the big races from March, April and May are planned for the last two weekends in May and the first in June.

Getting Involved

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 issue weekly shareholder updates (which go into more detail than the blog) and frequent updates on social media.  Feel free to like the FaceBook page and follow the Twitter updates.

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.

Phil


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