Weekly Update 15-04-20
By BG Racing Syndicates On 15th April 2020
I hope you are all doing OK?
Another week at home for me, but I was able to catch up with some shareholders and speak to both Michael and Neil yesterday, so I do have updates on the horses to pass on. I also used my much-used at the moment video skills to prepare a video update for shareholders at the weekend.
I did get some interest from people in buying shares. It seems that some people are keen to sort out something for once this is all over and people who are able to do so, can get themselves a good deal 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.
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
There is an outline plan for the resumption of racing which seems likely to take place at Lingfield in the South and Newcastle in the North. This appears to be based around putting a whole week of racing every day at one course with a fixed team at each site who are tested before going into quarantine at the course for a week staying in the racecourse hotel.
This will depend upon agreement from the government before it gets started and there will be a number of kinks to iron out as some trainers and owners may have concerns about entrusting their horses to someone that they do not know, but I am optimistic that they can come up with something that will be workable.
I spoke with Neil Mulholland yesterday and he confirmed that most of the horses are having a break at the moment following the announcement that jumps racing will not return before 1st July. Neil has a few that can run on the flat and these are still being ridden out, but all three BG Racing horses are having a break. Neil sent me four photos of Dynamic Kate enjoying the afternoon sunshine in a paddock – these can be viewed here.
My Brother and Fr Humphrey are both having a bit of a break, but Neil will be bringing them back in next month with a view to having them ready to race when jumps racing restarts.
I also spoke with Michael Attwater yesterday and he confirmed that Silver Imperial is fine. Most of the horses that had a short break are now back in and are being ridden out every day. Michael is keen to get back into action as soon as racing restarts and wants to have the horses ready to go whenever that is. Silver Imperial will be amongst those and if there is a suitable race for her, then we will get her running as soon as we can.
Royal Ascot has not postponed or cancelled yet and the course has stated that they are prepared to run the meeting behind closed doors if this is a possibility at the time. The Derby has however already at least been postponed. Epsom Downs has a common area in the centre of the course and therefore it would be very difficult to stop people from congregating without a law change. We will have to wait and see how things pan out going forward in respect of the rest of the summer programme.
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!
I have posted some adverts for current shareholding up on Horse Racing Hub this week. If you get the chance to link to any of them through your social media to spread the word, that would be greatly appreciated!
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.
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