INFORMATION & COSTING
Our aim is to ensure the ownership experience is at the very least enlightening and at best, THE RIDE OF YOUR LIFE!
With Proven Thoroughbreds you can expect a consistent stream of updates on your horse.
Be it through email, phone or text, we pride ourselves on quality and completely transparent reports – seven days a week.
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:
- Morning report of track condition, weather, rail position and scratchings
- Trainer preview in video/audio format
- Analysis by form expert and racing media professional Nic Ashman
- Live updates on track condition/weather
- Mounting yard video
- Video of jockey and trainer post-race
- Report on how horse recovered/pulled up
- Publishing of stewards’ report and sectional times
- Pre-trial video of horse parading
- Post-trial video of jockey and trainer summarising performance
- Link to results and replay
- Report on how horse recovered/pulled up
- Decision on official race schedule
- Email report on training progress in written, audio or video format at least twice weekly
- Weekly email report on horse’s condition in written, audio or video format
Examples of video reports sent to owners
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. Depending on the jurisdiction, 1-3% of prizemoney is also allocated to equine welfare which funds the lives of retired racehorses.
In some cases, when a horse has won a significant amount of prizemoney from a feature race, a small percentage may be allocated to the stable staff, whose tireless work in preparing the horse behind the scenes 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.
For trophies of an advertised value of $1500 or more, each owner will be entitled to the proceeds of its allocation.
OUR COST MODEL
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 equates to $2.5-3k for a 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.
Q: So what should my weekly budget be if I want to be a rachorse owner?
A: For as little as $25 per week (2.5% shareholder) you can be a part of the ownership journey!
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 every 3-5 months (typically $400 per 2.5% share) to replenish funds in the horse’s account.
- For total transparency, itemised invoices detailing how funds have been dispensed are supplied with every levy request.
- Note these levies are designed to cover ALL ongoing costs (including management fees)
At $9.00 + GST/month per 2.5% share, Proven’s management fees represent unmatched value for money:
- Payment and management of horse accounts (owners will only have to pay into one account for ALL horses expenses) plus a client-accessible archive of supplier invoices and rolling balances
- Consistent communication in written, audio and video format as well as release of nominations, weights and acceptances in real time
- Arrangement of horse transportation to and from spelling properties/racing stables
- Pedigree updates obtained from a subscription database
- Race previews by form expert Nic Ashman who uses subscription based data on sectional times
- Raceday ticketing and hosting
- Access to mounting yard where you can meet with the trainers and jockeys
- Arrangement of visitations and open days for clients to inspect horse(s) at trainer’s stables or agistment properties
- Management of regulatory processes with the industry body, i.e. registration of horse and colours, ownership transfers, etc.
- Occasional phone calls, especially when the horse is racing
- EFT, cheque or credit card payment options