Q. If I buy a share in one of your syndicates what do I pay in subsequent years/months?
You will pay the 'maintenance fee' only. This is currently set at £350 for 1% and £115 for 0.25%. We keep this figure under review and advise syndicate members as soon as possible if there is a change. This fee includes all costs for a full year/month including training; vets fees; entries; jockey fees; farrier costs; administration; insurance; hydrotherapy; alternative medicine practioners; registration fees and ANY other cost relating to the training, running and keep of the horse.
Q. Are there ever any other costs that the maintenance fee does not cover?
Yes, if the horse is sold then any costs directly attributable to the sell - advertising, transport, vets reports, sale entry costs, etc - will be taken from the sales proceeds before distribution.
Q. Can I sellmy share?
Yes, it is yours to do with what you will. The only obligation you have is to supply us with the full name and address of the new owner who must not be someone who has been banned from owning a racehorse and willing to supply details to us regarding vat status. They will also have to pay any maintenance when it falls due or relinquish the share.
Q. Can I bring friends and family to the races?
When your horse is running (or any other G G Racing horse) you must apply for tickets before 9am on the day before the race, advising of a contact number and the total number of tickets required. If there are more requests than tickets each member of the syndicate will receive an entry into the ballot for free and concessionary priced tickets in accordance with the size of their shareholding. Any excess tickets will also be distributed to friends and family of syndicate members or members of other horses within the group, also by ballot if necessary.
Q. What happens to the prize money?
Net prize money is distributed to members of the syndicate in proportion to their share - i.e. 1/100th (1%) share = 1/100th of the prize money. The only situation that this does not occur is when the horse is run in a claimer/seller, costs relating to the buy-back of the horse, if appropriate, will be reduced from the prize money. Members will, if possible, be advised that the horse is going in a claimer/seller and if a friendly claim/buy back is anticipated.
Q. What happens if an offer is received to buy the horse for which I hold a share?
If G G Racing and the trainer feel that the offer is a good one the members will be advised. Any member who wants to match the offer price and purchase the horse will be at liberty to do so - otherwise the horse will be sold if it is felt to be in the interests of the majority of shareholders (please note in the case of claiming or selling races the syndicate member will have to arrange to claim/bid if the syndicate are not attempting to retain - please call if you wish to discuss this situation). Syndicate members will receive a share of the sale proceed relative to their shareholding (less any directly attributable costs of sale - vets reports etc) plus a refund of any pre-paid maintenance fee (please see full terms and conditions for details).
Q. What happens if the horse is no longer suitable for racing?
If it is decided that the horse is not suitable for further racing he/she will be sold out of racing. Syndicate members will be advised of the decision and the reasons for it and be given the opportunity of giving the horse a home by matching the offer. In these circumstances the price received is not high but the purchaser must convince John Best or our other advisors that they are able to offer a suitable home for the horse and have the experience to cope with the requirements of an ex-racehorse. Syndicate members will receive a share of the proceeds and a refund of any pre-paid maintenance
Q. What happens if the horse I purchase moves into a breeding programme - either as a stallion or broodmare?
Your shareholding is for the life of the animal or until disposed of (or you stop paying at which time the share becomes forfeit). If movement into a breeding programme is a possibility all owners will be consulted. In the case of a broodmare then you will receive a share equivalent to your shareholding in each and every foal born, as long as you continue to hold the share. In the case of a colt going into a stallion programme you will receive a share of his net income. Maintenance prices for mares going into a breeding programme are currently set but those in respect of stallions are not as this is not an area that we forsee at the moment. If we were to contemplate this then figures would be obtained and the members would vote on the prospect but it would only be fair to point out that the amount of colts that go on to stand is very small compared with that of broodmares.
Q. What are your postage and packing costs when I order through the shop?
Items such as shares and suchlike are post free. Items such as mouse mats, magnets, key rings, clothing etc do attract a shipping charge. If in the description box there is a weight given in units then the charge is 50p per unit. (for example keyrings are 1 unit = 50p, Jackets are 10 units = £5.00). If no units given in description then there is no additonal postage and packing charges
Q. Is there vat to pay on shop items?
The share packs do not attract vat so there is no charge made for this. All other goods do attract vat and the prices quoted include this at the current rate of 17.5%. If you require a vat invoice then please email us separately and we will make sure one is included in your parcel at time of shipping or forward it by email whichever you prefer.
ANY OTHER QUESTIONS?
PLEASE E-MAIL US ON GGRACING2004@AOL.COM OR USE THE CUSTOMER RESPONSE FORM AND WE WILL GET BACK TO YOU AS SOON AS WE CAN. OR YOU CAN TELEPHONE US ON 01233 620968 OR 07951 662054 - if we don't pick up leave your name, address and telephone number and we will get back to you.
