Melbourne Cup 2021: How to buy your own horse

Thousands of Aussies are now buying their own share of a horse, but in the hope of making millions. Experts reveal how to get started.

St Joey's alumni owned horse Tralee Rose won the Geelong Cup pi ccelebrating at the Cremorne Hotel. David Costa , John Fitzgerald , Matt Sheehan Peter Fitzgerald , Ian Mckinnon , and Jonathan Parish

With Australians owning more racehorses per head of population than any other country in the world, it’s no wonder we have a race that stops the nation.

The rising popularity of syndicates, where multiple owners buy a share of a horse, is a large part of this phenomenon.

Racing Australia 2019/20 data shows there are 82,000 horse owners including 7200 syndicates with 40,000 members registered across the nation.

Syndicator Wyle Dalziel says buying a small share makes horse ownership more affordable.

“Syndicates are an ideal way to get involved for a first timer,” he says, but adds people should do it for fun rather than looking for quick money.

“If people think they are going to get a Black Caviar result … then that’s not likely to happen.”

But for some syndicate owners, the dream of a Melbourne Cup win has already come true. The owners of 2015 Melbourne Cup winner Prince of Penzance included one syndicate of six mates who spent $5000 for a 10 per cent share between them.

Syndicate o-owner and manager Sam Brown still can’t believe his group – which includes a podiatrist, two engineers, an IT consultant, a solutions expert and a producer – owns a Melbourne Cup winner. “We didn’t even know if he would make the racetrack or not,” he said after the race.

Similarly, Queensland-based owner Paul Lanskey wrote himself and 13 family and friends into the record books in 2019 when local stayer Vow and Declare won the Cup.

2021 DREAM

In today’s race, the Warrnambool- trained mare Tralee Rose, who won this year’s Geelong Cup, is further proof that having a Melbourne Cup runner is possible for syndicate owners. Tralee Rose was purchased for $50,000 at a yearling sale. Ben Casanelia, who is the racing manager for trainer Symon Wilde, is a part-owner but split his 30 per cent with nine of his mates, including eight friends from his schooling days at St Joseph’s College.

“We’re all around my age, which is 50. There are two plumbers, a paramedic, a policeman and a small-business owner in here. It shows that anyone can get into a horse,” he says.

Casanelia estimates there are 25 owners in Tralee Rose – all hoping for a fairytale ending.

“We’re thinking she’s a top five chance and that’s a dream in itself,” he says.

Tralee Rose won the Geelong Cup. Owners David Costa, John Fitzgerald, Matt Sheehan, Peter Fitzgerald, Ian Mckinnon, and Jonathan Parish.

HOW TO BUY A HORSE

Syndicators buy unraced or tried horses at sales and then syndicate them out to the public for racing.

Common share offerings are five and 10 per cent and can be bought outright or divided. Some companies offer micro-shares of 0.01 per cent. There are additional costs each year of about $40,000 and you must register your syndicate.

Prince of Penzance’s managing owner Sandy McGregor recommends using a reputable syndicator, trainer or bloodstock agent to buy. “Do your homework and look at buying into horses that have been sold as yearlings because they have public prices.”

WHY DO IT?

OTI’s racing manager and co-founder Terry Henderson says racehorse ownership is a form of entertainment akin to buying art or getting involved in a golf club.

“It is something that provides an enormous amount of experience that you wouldn’t get anywhere else in life,” says Henderson who tasted Melbourne Cup success in 1995 with Doriemus and has Selino and Future Score running in today’s Melbourne Cup.

For Dalziel, he concentrates on buying good-value horses from yearling sales and uses experienced trainers such as Peter Moody to train them.

However, he says not even Melbourne Cup-winning trainers can guarantee success.

“Be prepared for disappointment. After paying up for a year and a half, the call could come that it’s not going to make the grade,” Dalziel says.

NOTES FOR POTENTIAL OWNERS

1. Your main motivation should be to have fun.

2. Do it to meet people or reconnect with people from your past through owning horses.

4. Success is not guranteed, so don’t expect it.

3. If you’re lucky, you’ll find a good horse without paying a fortune. Horses such as Gytrash sold for $40,000 as a yearling and he’s won $3.7 million.

5. Soak up the race-day experience. Clubs go out of their way to look after owners.

Source: Syndicator Wyle Dalziel

Originally published as Melbourne Cup 2021: How to buy your own horse