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Weekly Update 17-05-20

By On 17th May 2020

I was hoping that the forecast sunny weather would allow for some sitting in the garden this weekend, but whilst I did get out for a few minutes yesterday it was not as warm as I hoped and some time at the computer doing weekly update communications indoors rather than outdoors seemed a good option today!  I am venturing out tomorrow for a game of golf as we were supposed to be on a golf break today and tomorrow, so my wife Sarah had Monday booked as leave.  We have managed to get a tee time locally tomorrow afternoon after I have had a Racehorse Syndicates Association video conference call in the morning.

Our Horses Update

Fr Humphrey – is doing fine and on track for July return.  I have been processing renewals for shareholders, most of whom have renewed and some have increased their shareholding as Humphrey should be well handicapped and able to perform well.  Shares are only £150 per 1% covering the period to 31st October with discounts for 5% and 10% purchases.  I have some shares still available, so please click here to see more information or contact me if you are interested.

My Brother – is also doing fine and is being trotted up every day.  He is on track to return to racing in July and could increase his value over the summer if he returns to his earlier level of ability. See here for shareholding details.

Dynamic Kate – is enjoying her summer holiday and will not be back in for a few weeks.  She is an exciting prospect though and will run in the current shareholding period, so now would still be a good time to secure your share and have the first refusal for renewal.  More details on her page.

Silver Imperial – is going well and there are a number of races for her in the first week of June if racing returns.  We expect that getting into races may be tough as they are likely to be oversubscribed, but we have several options.  I will try to get up to Epsom later in the week to see her on the gallops and to get some more video and photos of her.  Shares have been selling well but it is not too late to get involved, see her page for details.

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

Loads of progress this week, but all of it is dependant on the data produced by the Government continuing to trend in the right direction.  If it does, then several gaps have been filled in terms of planning for the restart.

If the restart does happen, then we will be treated to an absolute feast of racing in the first week as the sport tries to catch up on a lot of the listed and group races that would otherwise have been held in April and May.  The schedule has racing due to restart on Monday 1st June (see below) and the is still to hold the 2000 and 1000 Guineas the following weekend, with Royal Ascot in mid-June and the Derby and Oaks on the first Saturday in July.  Whilst it is all still subject to change, we could see a listed fillies race and a classic trial at Kempton on Wednesday 3rd June, a Group 3 sprint at Newcastle on the 4th and Oaks and Derby trials at Lingfield on the 5th, the same day as the Coronation Cup which will be run at Newmarket under this plan.  There is another group race and a listed race on the Newmarket card which looks a cracker.  All that happens before we even get to the first weekend, when Newcastle has a group 3 race and Newmarket has a listed race, a group 3 and a group 2 supporting the 2000 Guineas and on Sunday there are two listed races and two group 3 races at Haydock and two listed races and the 1000 Guineas at Newmarket.  Not a bad first week!

As much as I am interested in the quality racing on offer it is unlikely to directly affect us, so the announcement about minimum prizemoney levels that came on Thursday was of much more interest.  It was totally accepted that prize-money would be impacted by racing behind closed doors as racecourses contribute to prize money and they will not be able to do so at anything like a normal level with no paying customers.  It was, therefore, a surprise, but a very welcome one when the announcement was made that minimum prize money levels are to be rebalanced for 10 weeks of racing.

Racecourse contributions (which also “unlock” extra funding” are likely to mean that overall prizemoney is still slightly down even at the lower tier of racing, but the changes in minimum race values will ensure that this difference is marginal at that level.  There will be less prize money for top tier races, but this will ensure that the prize money is spread across a wider group of owners and trainers and this has to be the right thing to do.

The provisional fixture list for the first seven days of racing was published this week and it seems that racing is planning to go straight to a “closed doors” as opposed to a “fully quarantined” restart.  If the full quarantine option was to be followed we would have seen meetings all at the same course with the meeting staff quarantined at the track and this is not the case as a variety of courses have been allocated meetings.  The first-week schedule is: Monday – Newcastle, Tuesday – Kempton & Newcastle, Wednesday – Kempton & Yarmouth, Thursday – Newcastle & Newmarket, Friday – Lingfield & Newmarket, Saturday – Newcastle & Newmarket, Sunday – Haydock, Lingfield & Newmarket.

To protect against unnecessary risk foreign-trained runners will only be permitted to run in the three Group 1 races taking place in Britain during the first fortnight (Coronation Cup, 2000 Guineas and 1000 Guineas).  International runners will be allowed to run in listed and group races from 15 June 2020 onwards, but not in lower-class races until further notice.

Another announcement was made around two-year-olds, as to try to ensure that the top horses get to race, trainers are being invited to nominate horses to be given preferential treatment in early season races.  This is aimed at ensuring that these horses are not constantly unable to run due to races being over-subscribed.  It seems generally accepted that races will be over-entered in the first few weeks and that getting a run could be tough.

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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