A racehorse syndicator is a person or business entity who has chosen to either buy or lease a racehorse and then sell shares to consumers on a profit or non-profit basis.

A syndicatee is a person who has chosen to purchase a share in accordance with the terms and conditions prescribed by the syndicator.

A racing club is normally an entity operating on a non-profit or commercial basis. The general principle is that a racing club invites people to join the fun and excitement of being associated with one or more racehorses, for a fixed period of time. The club member does not normally own or lease any part of the racehorse but may possibly share some of the prize money won by the horse(s).

Because racehorses are not machines, there is no guarantee that even if a horse has already entered training, that it will actually make it to the races, let alone win a race or any place prize money. In other words it is essential that a syndicatee measures his/her expectations from the outset.

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In 2019 the British Horseracing Authority (BHA) recognised the need to consider replacing their Code of Conduct for syndicators, with a potentially more substantial and effective licensing system. RSACA welcomed this move and is poised to assist if asked to do so.

In the light of a high profile case of alleged overselling of shares the BHA appears to now hold more store in the need to protect the interests of syndicatees and fair traders in this industry.

Licensing would appear to be an obvious commonsense move, particularly as the syndicate industry is worth an estimated £200million per annum. It has become a significant contributor both financially and in terms of increasing awareness of racehorse ownership and club membership.

Welfare of the racehorse remains the highest priority.