A racehorse syndicator is a person or business entity who has chosen to buy a racehorse and transfer ownership shares in the horse to consumers, on a purchase or lease basis, for profit or not for profit.

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 purchases or leases horses and then invites people to become members and join the fun and excitement of being associated with one or more of those 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 or club member measures his/her expectations from the outset.

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In 2019 the British Horseracing Authority (BHA) appeared to recognise the need to replace their Code of Conduct for syndicators with a potentially more substantial and effective 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 racehorse 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 or a meaningful Code of Conduct would appear to be an obvious commonsense move, particularly as the syndicate industry is worth an estimated £200million per annum. The sector has become a significant contributor to the racing industry both financially and in terms of increasing awareness of racehorse ownership and club membership. However, the BHA have a duty to protect the integrity of racehorse syndication and clubs, regardless of the introduction of syndicator licensing.

Welfare of the racehorse remains the highest priority.