Owning a Racehorse
Owning a racehorse can be a very exciting and fulfilling experience and owning a winning racehorse in particular is one of life's greatest pleasures. However owning a racehorse can also be frustrating, expensive and disappointing. It doesn’t really matter how much money you throw at it, there is never any guarantee that even the most expensive racehorse will succeed and bring you untold glory. Like any top athlete a racehorse can suffer from injuries and set backs as well as sometimes proving temperamentally unsuitable for the sport.
This said most owners are unfazed by the expense and potential disappointments which are rarely enough to diminish their enthusiasm for the sport and their desire to lead their horse into the winner’s enclosure. Racehorses are also dazzlingly beautiful creatures that have a wonderful and romantic history.
Did you know that all modern Thoroughbreds have as common ancestors one or more of three stallions, the Byerly Turk, the Darley Arabian, and the Godolphin Barb? These famous entires, which were imported into Great Britain from the Middle East and North Africa between 1689 and 1724, were put to good English mares, to produce offspring with both speed and endurance. Thoroughbreds that compete in organised racing are registered in the official national stud books, or pedigree registers, of their country of birth; the British stud book was begun in 1791.
When horses destined for racing careers are two years old, they begin training that includes accepting a rider’s weight and commands. Although many two-year-olds race, Thoroughbreds are usually in their prime between the ages of three and five, and horses up to ten years of age have competed successfully. There are certain races that are run by horses of one sex only, but most races are open to entries of either sex.
There are several different ways in which you can own a racehorse. You can have full ownership or part ownership. Two or more prospective owners can determine their share of ownership. Syndicates have been popular in recent years, whereby several enthusiasts club together, put money in the kitty and share the rollercoaster ride of racehorse ownership.
Before buying a racehorse or setting up a partnership you will need to decide whether you’re interested in a horse that runs on the Flat or over Jumps, or maybe even both. The British Flat racing season on turf extends from March to November, while racing on all-weather surfaces takes place throughout the year. Jump racing has its main season between October and April, but also holds Summer Jumping outside of these months.
Most Flat horses begin their careers as two year olds who have been bought at the previous year’s autumn yearling sales. Jumpers on the other hand come from three main sources, some are bred specifically for jumping (store horse), some come from already having been raced on the Flat and some are bought from Point to Points.
Buying a racehorse from the Bloodstock Sales is good way to start so long as you know what you are doing, if you don’t then enlist the help of a bloodstock agent to accompany you to the auction. A bloodstock agent will normally charge about 5% of the purchase price of the horse in return for inspecting the horse and they should also provide a professional opinion as to whether the horse has the potential to perform on the racecourse.
Tattersalls in Newmarket and South Yorkshire based Doncaster Bloodstock Sales are the leading bloodstock auctioneers in Britain. Thoroughbreds are sold at public auction in guineas, this is because traditionally horses were sold in this currency and the five pence from every guinea was taken as commission by the auctioneer.
Once you have decided to become an owner you will need to register with The Jockey Club and The British Horseracing Authority. This is done through Weatherbys who deal with the day-to-day administration of British horseracing.
You may also need to register the following with Weatherbys:
Your horse’s name if it has not already been named
Register your racehorse if your racehorse has not already raced
Racing Silks – this is the fun part
You could on the other hand decide that on reflection, if you have the right facilities and a cracking mare, it could be great fun to try and breed your own racehorse; after all people have been breeding Thoroughbreds in Britain for over 300 years.
Each year Britain produces 5,000, classic Thoroughbred foals, they come from all sorts of private and public breeders who use their accumulated knowledge and high standards of stud management to breed some of the best potential winners in the world. Breeding your own foals means that you can always dream that next year will be your year!
If you do intend to purchase or breed a racehorse it may well be worthwhile for you to join The Racehorse Owners Association, which promotes and protects the interests of racehorse owners in Britain. Take a look at their website on www.racehorseowners.net
Other useful sites for racehorse owners are:
www.welcometoracehorseownership.co.uk