Racehorse ownership shall be automatic upon an individual/companies purchase of a minimum of 1% up to a 10% share in a racehorse.
(Note “share” means a division of a partnership arrangement). It must NOT be regarded as an investment or security.
ROGUES GALLERY RACING reserves the right to cancel any share/s at any time without notice. With no payment of monies of prize money or re-sale.
2) Each horse will be owned and registered in the name of ANTHONY ELLIOTT and carries the registered colours and each horse remains the sole property of ROGUES GALLERY RACING, no legal claim of ownership can be made for/against the horse/s or ROGUES GALLERY RACING.
3) The trainers will be appointed by ROGUES GALLERY RACING; all race plans and decisions will be made by ROGUES GALLERY RACING and/or the appointed trainer.
4) Failure to honour the fixed monthly payment on the due date shall result in suspension/cancellation of shares/ownership and no entitlement of prize monies and re-sale monies. If payment is not rectified within 7 days, ownership will be cancelled and 4 month’s payment will be charged, together with any bank charges levied by our bankers.
5) The shareholding of a racehorse will be for its racing career from its initial period of issue (A lease agreement may be subject to a different term which shall be published on the ROGUES GALLERY RACING website and share certificate when issued). At the end of its racing career the racehorse may be sold at auction with the proceeds distributed among the shareholders at that time. Shareholders who have held their share for its racing career will receive the full value of their share. If an offer is received to purchase a racehorse/s during the syndicate term ROGUES GALLERY RACING will make the decision to accept or decline the offer. If accepted the amount received minus fee’s etc will be distributed based on the above procedure. However, if it is felt the horse/s should be retired at any time (not to race under rules) no re-sale/s will be due. ROGUES GALLERY RACING will take a 10% bloodstock fee off all sales plus 10% of any winnings. (No re-sale payment/monies with LEASE syndicate/s). All shares sold cannot be re-sold to 3rd parties and must be sold back to Rogues Gallery Racing, unless agreed by Rogues Gallery racing. Any management fees will be kept to an absolute minimum.
6) When a trainer decides a horse is no longer suitable to race, the shareholders should accept such decision and shall attempt to sell via ROGUES GALLERY RACING at a value recommended by the trainer. Likewise, if the trainer decides to enter the horse in a selling/claiming race and if the horse is subsequently sold, the shareholders shall accept such a situation and the resultant sum shall be distributed equally amongst the shareholders (subject to above pro-rata basis of calculation).
7) In the unlikely event of a horse dying during the period of ownership, the resultant sum paid by the insurance company if insured shall be distributed equally amongst shareholders (on a pro-rata basis as calculated in paragraph 5) if any insurance is taken out on the horse/s. Your share/s will then be transferred to another ROGUES GALLERY RACING horse.
8) All win and place prize money (place money, first four placings) shall be distributed according to shareholding within a period of 14 days of receipt of Weatherby’s statements. Resultant sums less than £100 will be held over in the shareholders account, once the prize money exceeds £100 it can be requested by the shareholder. If a person/s cancels their ownership in line with the agreed terms and conditions any claim for prize money must be made within 30 days of cancelling their agreement, after 30 days if no claim is received no prize money shall be paid. Weatherby’s automatically take 23% from any prize money won, 10% to the trainer, 10% to the jockey and 3% to the stable, this is industry standard. For example, if a horse wins £10,000.00 ROGUES GALLERY RACING receives £7,700.00 and it is this amount that the prize money is paid from.
9) One month will be deemed to be one calendar month.
10) Racecourses provide four/six complimentary passes. These will be provided on a rota basis. Other shareholders will still have access to racecourse facilities but some form of entry fee to the racecourse will be payable. Subject to an individual racecourse’s approval badges may be provided for owner’s guest/s with a fee payable to the racecourse. In most cases we can get more than quoted.
11) To cancel a share/s, 120 day written notice must be given for flat horses and 60 days’ notice for national hunt and dual-purpose horses in writing (BY RECORDED/SIGNED FOR MAIL). This notice must be confirmed by ROGUES GALLERY RACING.
12) The advice service for personal use only. Any person/s found to be abusing the service will be found to be in breach of contract and have his/her ownership cancelled.
13) Any owner/s found/thought to be recruiting/starting their own syndicate or recruiting or inciting ROGUES GALLERY RACING owner/s to join alternative syndicates will have their shares cancelled and no prize/resale money will be due. This may also result in legal action being taken.
14) If at the end of the syndicate term ROGUES GALLERY RACING or the trainer feel that the horse will not reach a reasonable price at the sales then ROGUES GALLERY RACING can invoke the following: (1) The horse/s is sold privately via Racing Post adverts etc. (2) Continue to race the horse in claimers, sellers etc until the horse is claimed or bought. (3) Retire the horse.
15) The racehorse remains the property of ROGUES GALLERY RACING.
16) When making a first payment via PayPal (purchasing share/s) you are confirming you agree to ROGUES GALLERY RACING terms and conditions and bound by them.