Weekly Update 17-03-20
By BG Racing Syndicates On 17th March 2020
As fast as you can tell people what is going on, it all changes! Within a few minutes of sending a weekly update to my shareholders this morning, the BHA issued a press release to state that all UK horse racing has been suspended until the end of April and that rendered a lot of my previous email irrelevant!
The reasoning behind the suspension is sound and hard to argue with and I feared that this might happen at some point, but I did hope that racing would continue long enough to for Fr Humphrey and Silver Imperial to race in the next two weeks, however, it is not to be.
This is going to be a tough time for a lot of people in the industry, myself included as I was hoping that getting the horses back racing would help me to sell outstanding shares which is necessary if I am to avoid having to meet the costs of those shares personally. This is now going to be difficult, especially when it comes at a time when people are inevitably going to be curbing their leisure spend and I could be on the hook for fees which I could cover in a worst-case scenario but it could impact on my ability to run BG Racing in the same way in the future.
If you know of anyone that might be interested in getting involved in ownership (and I know it will be a hard sell right now), it would really help me if they chose to get involved, so please put them in touch with me. 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.
I had a great week at Cheltenham. As someone who loves the Festival, I was pleased that it went ahead, albeit with plenty of hand sanitiser in use. There was some cracking racing over the four days with some close finishes and plenty of excitement along the way.
I don’t know if any of you were following the selections in my preview guide, but if you were then hopefully you made a healthy profit. The recommended bets at recommended prices made 8.5 units profit which was a decent profit for bets totalling one unit per race (over 40% profit on stakes). This was largely thanks mainly to my tips on Politologue and Dynamite Dollars in the Champion Chase on Wednesday. They were first and second and were picked at odds of 20-1 plus which delivered a big return as there are no deductions for non-runners on antepost bets! That is the second year in a row where I have managed to make a profit in the preview guide, perhaps I should only back those selections myself next year!
Fr Humphrey & Mount Oliver
Fr Humphrey was entered for his final at Newbury on Saturday and with only 17 entries and Fr Humphrey not being the lowest-rated, he was certain to get a run. Now that racing has been suspended, the last few months have been wasted. We got him qualified, paid for his training all through the winter and have now had our chance to win a valuable prize taken away. It is hugely disappointing.
Mount Oliver ran last Monday at Plumpton where he was really disappointing. He started favourite for the race but ended up being pulled up. The ground at Plumpton was heavy, but it was “sticky heavy” rather than “sloppy heavy” and Mount Oliver seemed to really dislike it. Phil Donovan (who rode for us) said after the race that Mount Oliver was never travelling as he would have hoped, even on his way to the start! When we went out onto the track after the race, it was pretty clear that the ground was incredibly holding. If you stayed still for a few seconds, you were liable to leave a shoe behind when you lifted your foot!
Both Fr Humphrey and Mount Oliver are part of a share package that only runs until 30 April 2020 and I will need to consider what (if anything) we want to do with them after that and if we wish to keep either or both, then I will need to arrange this with their owner.
We went to Lingfield on Monday to see Silver Imperial do her barrier trial and this went really well. She was taken down to the six-furlong start where she went into the stalls with no problems and she jumped well on the first practice start. The horses were then pulled up and put back into the stalls again for a second experience of them and she handled it just as well on the second occasion.
This time the runners headed off on the full six-furlong course. Silver Imperial was a little outpaced early but moved to the inside and followed the leaders quite comfortably for a few furlongs. She was a little outpaced again in the home straight and probably finished around ten lengths behind the leading horses. This was a decent performance as she will almost certainly be better over a longer distance and some of the other ones were likely to be sprinters who would have been better suited by the distance. Michael Attwater was delighted with her, and the jockey, Rhys Clutterbuck was also really pleased with the way that she performed.
She was all set to make her debut on Thursday week at Lingfield in a one-mile race, but these plans are now on hold. 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!
My Brother is fine and working away at Neil’s. Obviously, with the current disruption, I am not sure exactly when I will be able to get down to see him. These are difficult times and things change so quickly! 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.
Neil is very happy with Dynamic Kate. She was on track for a debut in April and she continues to progress well. She is an exciting prospect and it is entirely conceivable that she could be a top-level performer able to contest big races. 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.
From The Stables
On Sunday 8th March, Michael Atwater’s Big Time Maybe finished unplaced at Southwell and Monday was a nightmare day for Neil Mulholland. At Plumpton, Sandymount Rose was hampered and stumbled on the home turn before rallying to be an unlucky 2nd. As mentioned above, Mount Oliver also had a terrible race and Neil’s luck was no better at Taunton where Sainte Doctor finished in midfield and then Chinwag cruised up to join the leader but made a bad blunder at the second last and almost certainly would have won without the mistake. Things were no better for Michael as Lady Phyllis ran a lacklustre race and dropped out of contention.
On Tuesday, Neil’s Soupy Soups ran OK for a long way at Cheltenham before dropping out of contention and on Wednesday, his Cremant was unplaced at Huntingdon. Michael did not have the results he was hoping for when at Lingfield, Music Major was just outside the places, Delagate This Lady and Ask The Guru were well down the field and at Kempton, Strange Brew and Lee Roy were unplaced.
Thursday saw Lep ran OK for Michael at Chelmsford finishing 3rd, but Ezzrah was unplaced on the same card. Neil had runners at Cheltenham and Kansas City Chief ran well for a long way before finishing 6th. Full of Surprises, The Young Master and Fingerontheswitch were all unplaced and over at Doncaster, Irish Odyssey blundered two out which cost him his chance, Carolines Charm was unplaced and Tango Boy was 2nd.
On Friday, The Detainee was unplaced for Neil at Southwell, but Michael had a winner at Lingfield. Whilst Ihearalotofstories was unplaced, everything fell right for Juanito Chico and he was able to record a victory at 12-1! At Kempton on Saturday, Neil’s runners went well. Bootlegger ran well to be placed in the handicap hurdle and No Hidden Charges was 5th in the same race at big odds. The third runner, Shantou Village, was unplaced. There were no runners from our stables on Sunday and on Monday, Exelerator Express was 2nd for Neil at Southwell.
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.
3 weeks ago / Comments Off on Weekly Update 17-03-20