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Weekly Update 12-05-20

By On 12th May 2020

I was holding out on issuing the weekly news update to see whether there was more news on the resumption of racing and on Monday evening we did receive official word from the industry group responsible for this.  Unfortunately, this was not been as positive as I would have liked and it looks like we need to wait another three weeks for a restart of racing.

There was some hope yesterday in the messaging that people should go back to work if they could be provided with a safe working environment.  Our jockeys and racecourse staff had industry plans covering the safety and distancing issues and it was hoped that this would allow a prompt restart to be planned, but the clarification on Monday from the Government stated that no top-level professional sport would be permitted (even behind closed doors) before 1st June 2020.  The restart then will be contingent on continued reduction in the effects of the virus, so we must hope that people are sensible in the intervening period to ensure that this is the case.

Our Horses Update

All of our horses are doing well.  Fr Humphrey and My Brother are back in from the paddocks and both are absolutely fine.  Neil sent me a video of Fr Humphrey trotting yesterday and he looks in good form.  He has not put on much condition and should be getting back to fitness pretty quickly.  If he stays injury-free he should definitely be back ready to run when jump racing resumes in July.  My Brother will be a couple of weeks behind him at least, but should still be ready to race at the back end of July.

I have been working on renewal terms for Fr Humphrey and I emailed shareholders at the weekend.  Whilst most want to renew for summer and autumn, I do have some shareholding available and as these are the cheapest shares I have, so if you wanted to dip your toe into the waters of ownership, and own part of a horse that has won two of his last three starts, this is your chance! Check out the details here.

Dynamic Kate is enjoying her summer holidays and Silver Imperial will be ready again when racing restarts.  She will give us loads of fun over the rest of the year and is worth a look if flat racing is your game.  She is trained in Epsom by Michael Attwater and you can see details of her here.

I have updated each of the horse pages on the website in the last week and these have horse bios and full details of share options available.  Take a look using the links below:

Dynamic Kate

Fr Humphrey

My Brother

Silver Imperial

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.  Being an owner might be the only way you can watch horse racing live this summer, so now could be a great time to get involved.

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

Racing has continued to have positive conversations with the Government and has been focusing on having flexible plans to allow for a range of different scenarios.

The Government has stated that sporting and cultural events can resume behind closed doors as part of the second step of lifting the current restrictions (which will take place from Monday 1st June at the earliest) and will be subject to an assessment of the risks posed by the virus at that time.  A timeline setting out what racing needs to do to be ready to race on 1st June will be published within the next seven days and will include a review of race planning and the provisional fixtures already issued.  There will need to be some attention given to the timing of the Classics and other flagship races, to meet the new government timeline.  The sport will be focusing its efforts during the remainder of May on finalising and agreeing on the exact plan for the restart and providing everyone involved with the tools they need to make this happen.

It is unlikely that “normal” meetings with large crowds, will take place until significantly later in the summer.

Racehorse Syndicates Association

I am part of the committee of the Racehorse Syndicates Association which represents almost 100 syndicates operating in this country.  Last week we hosted a video conference forum which involved representatives of over half of the members.  The forum was organised into several breakout sessions where small groups discussed various issues including syndicate regulation, the impact of the current situation and benefits for syndicates and syndicate owners.  It was a really good session and we put together a press release afterwards which was picked up by the Racing Post.  If you are interested, then the press release can be read using the first link and the Racing Post story is on the 2nd.

https://www.racehorsesyndicates.org/rsa-virtual-forum-may-2020/
https://www.racingpost.com/news/coronavirus/syndicates-body-does-not-want-owners-left-behind-when-racing-returns/433499

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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