Weekly Update 07-04-20
By BG Racing Syndicates On 7th April 2020
A short “week” to try to get back closer to a normal schedule and not so much to update on this week as not long since the update, but there are a few bits and bobs to report.
I hope you are all keeping well and are not being too badly impacted by the current situation.
I am staying busy, especially with the BG Racing social media in the hope that I still might sell a few shares. If you know of anyone that might be interested in getting involved in ownership. please put them in touch with me. I know it is not an attractive time to get involved and many people have been hit hard financially by the current situation, me included. In response to this, I am doing some great deals at the moment for anyone who is prepared to accept getting involved right now when they may not be able to see their new horse for a few weeks, as my priority is to share some of the training costs (as I have to meet the costs of unsold shares) more than it is about making an income. I will be very grateful to new shareholders who put their faith in BG Racing at this time and I will make sure that they have a great experience when we get through this!
Details of the horses can be found on the website 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.
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 announced last week that they will not restart jump racing before 1st July. Frankly, I felt that they were unlikely to do so anyway, but this announcement was positive on two fronts. First, it indicates that they are certainly not ruling out flat racing restarting before then and secondly it provides some certainty of planning in respect of the fitness of the jumps horses.
I spoke with Neil Mulholland yesterday and he advised that he now has most of the horses out of training meaning that they are just spending time on the horse walkers and turned out in paddocks rather than being ridden every day. The “out of training” fees are significantly less than the full fees which will help owners. He and the team are working around the property to check and add additional fencing to create the required paddocks for the horses to be turned out in sensible size groups.
I also spoke to Michael Attwater yesterday and with most of his horses being flat racers, things are a little different for him. He did give some of the horses a few days break, but he has almost all of them back in and trotting an cantering to maintain their fitness so they can get going as soon as racing resumes.
We are hoping that Mount Oliver will be able to travel back to Ireland this week. The three horses with Neil are all well. Fr Humphrey, My Brother and Dynamic Kate are all in good form and enjoying their break from training. Silver Imperial is in good form at Michael’s and has been kept ticking over. She is in good spirits and looks well from the photos and video that I have seen!
I was counting on selling a lot of the outstanding shareholding when the horses were getting close to running and the current situation rather scuppered that plan for a while! Whilst the training fees will be less during the suspension of racing, it does fall to me to meet the costs of any unsold shares which could still be quite significant. Normally my income is generated from an administration fee added on once I have worked out each share of the costs. At the moment reducing my costs is more important than making income, hence I have significantly cut my admin fees and from a shares cost perspective there will never be a cheaper time to give ownership a try! Contact me via the links below if you would like more information.
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 07-04-20