Weekly Update 27-04-20
By BG Racing Syndicates On 27th April 2020
I hope you had a good week last week. We had our first BG Racing shareholder quiz hosted as a video conference which was great fun!
In terms of news, the Resumption of Racing group is doing a good job of issuing regular briefings at the moment, so I can pass on another update from them and I spoke to our trainers Neil Mulholland and Michael Attwater over the weekend so I have some news on our horses.
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. It does seem 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! I will discount the fees quoted on the web pages.
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
The update from the BHA Resumption of Racing Group this week confirmed that all of the possible ways of implementing a transition back to normal racing fixtures are very much on the table and which one(s) are deployed will depend upon Government advice and guidance prevailing at each point.
The Group indicated that racing would almost certainly return behind closed doors, but that the level of restriction within that model will depend upon risk mitigation and infection control requirements. An outline programme of races for the first two months of resumption is expected in the next couple of weeks and as mentioned last week the fixture list will need to be restricted due to the cost of racing without crowds and field sizes will need to be restricted to 12 runners per race at all fixtures to support the logistics of social distancing on a raceday and to minimise the risk of incidents.
An intention to extend the flat season to provide more late-season opportunities has now been expressed and several of the listed and group races that have already been missed will be rescheduled, allowing them to be used as trials for any rescheduled classic races.
The BHA is clearly working closely with Government to gain permission to restart racing at the earliest stage and therefore it was a bit disappointing to see two trainers making headlines over the weekend taking a stance against the BHA. Whatever the background to this, now is a time to be unified and positive to get a resumption of racing that is supported and welcomed. That kind of press cannot be helpful or constructive in that goal and it would have been better if the issues had been kept behind closed doors.
I spoke to both Neil Mulholland and Michael Attwater over the weekend and both are doing well. Neither yard has seen any sickness amongst the staff and the horses are all doing well.
Neil has been working on a big fencing project around the estate which has been keeping him very busy. Fr Humphrey and Mount Oliver will come back into training soon with a view to them being ready to race when jump racing resumes. Dynamic Kate will stay out of training for now and will be brought back so she can have a race or two ahead of her renewal date.
Michael and his team are all fine and Silver Imperial is very well. She should be ready to race as soon as there is a race for her to run in!
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.
4 weeks ago / Comments Off on Weekly Update 27-04-20