The Proven Thoroughbreds model is designed to enhance the quality and frequency of information to owners. Owners have been the most neglected, unappreciated sector in the game.
Our aim is to ensure the ownership experience is at the very least enlightening and at best, the ride of your life!
For this reason Proven Thoroughbreds manage all our syndicated horses for the duration of their respective careers. Be it through email, phone or text .
And that information is presented warts and all. If a horse is not performing or has issues that will preclude future viability, failure has to be confronted. If the horse is winning, success has to be embraced! If results are mixed, a decision has to be made.
Here are three authentic emails covering that trio of scenarios:
PRIZEMONEY & TROPHIES
All prizemoney is paid into the nominated bank account of each owner. Prizemoney earnings are tax-free if ownership remains a hobby (as opposed to a business).
The distribution of prizemoney in Australia deducts 10% for the trainer and 5% for the jockey.
In some cases, where a horse has won a considerable amount of prizemoney from a feature race, a small percentage may be allocated to the strapper, whose tireless work in preparing the horse often goes unappreciated.
Unlike other syndicators, Proven Thoroughbreds does not retain trophies. Trophy recipients are randomly selected from the ownership group on a pro-rata share basis, i.e. those with a higher share percentage are more likely to be selected than those with a lower share percentage.
The Proven Thoroughbreds cost structure is the most competitive on the market. After purchase, the average price to maintain a racehorse is around $50-60k per annum which is about $2.5-3k for each 5% shareholder (and even less in jurisdictions outside of Sydney). That can obviously vary according to how long the individual horse is in work, how often he or she races and whether any major veterinary work is required but will very rarely be in excess of $60k annually.
Logistically, our ongoing cost structure after the initial outlay works like this:
- A trust account slush fund is created for each horse and all accounts are paid by Proven Thoroughbreds which saves the syndicate endless administration fees that are charged when the supplier must distribute bills to each shareholder.
- Levies are requested from owners typically quarterly (equating to approximately $500-700 for 5% shareholders)
As well as handling all the accounts so our owners are not receiving a bevy of small bills from suppliers, for a modest fee ($13.75 a month for each 5% share) our owners receive:
- At least one email a week and several more when the horse is racing.
- Rolling spreadsheets bi-annually, detailing how levy funds have been dispensed.
- Phone calls from time to time esp. when racing.
- Video footage, photos and voice reports.
- Raceday ticketing and hosting, including access to mounting yard where you can rub shoulders with trainers and jockeys!
- Arrangement of open days for partners to inspect the racehorse(s) at trainer's stables.
- Encouragement to raise queries at any time. If you never ask, you'll never know!
- EFT, cheque or credit card (Visa & Mastercard) payment options
Proven Thoroughbreds also manages all regulatory processes with the industry body Racing NSW, i.e. registration of horse and colours, ownership transfers, etc.