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Somerset Sam
26 Jul 21 13:56
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Date Joined: 11 Mar 02
| Topic/replies: 1,244 | Blogger: Somerset Sam's blog
Just been looking on their website and for under £200 you get involved with an extensive string and breeding programme. Then you realise there are around 8000 members entitled to a share of the prize money won in your 12 month membership period.

Who actually owns all the horses then and although it seems at face value great value are you just funding someone's lavish dreams?

When Marsha was sold for example were those proceeds split among the members at the time?
Pause Switch to Standard View Who owns the Elite Racing club horses?
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Report potentialmillionaire July 26, 2021 4:03 PM BST
Somerset, to keep people answering your requests it might help to acknowledge them when they do.
Report Somerset Sam July 26, 2021 5:35 PM BST
Sorry you've lost me.
Report Big Black Cat July 29, 2021 1:47 PM BST
The horses are ownned by the Club.  As was Marsha.  The members got none of the proceeds from the sale. The Club upgraded some covers, but they would wouldn't they?  The also bought an equine facility (Equiprep).

Members are entitled to a share of prizemoney, but nothing else, its NOT ownership of the bloodstock.

They covered Marlinka (dam of Marsha) with Frankel.  The colt was subsequently sold to Juddmonte as a yearling privately (just under 1m guineas).  They copped for all of that too.

They do have an offshoot called Elite syndicates-very similar model to the Owners Group (same company own ERC and OG) so that is ownership (about 0.033% or so per share).
Report KeMoH July 31, 2021 8:43 PM BST
if it costs roughly between 20-25k to keep ONE horse in training per year, then what do you think you're going to get for £200 per annum for an entire string of horses. stay well clear and, as the old saying goes, you get what you pay for!
Report Somerset Sam August 1, 2021 12:22 PM BST

Jul 29, 2021 -- 7:47AM, Big Black Cat wrote:


The horses are ownned by the Club.

Report potentialmillionaire August 1, 2021 1:21 PM BST
Thank you for your explanation B B C, a very detailed summing up and it was kind of you to take the time to answer the request for information.

I don’t think people need to steer clear necessarily KeMoH, if you consider the 200 quid well spent for the information and interest it provides then go for it.

I haven’t got a clue how much you have to pay for a football ticket, but I know I wouldn’t consider that good value!
Report LoyalHoncho August 11, 2021 3:20 AM BST
In my view it will be run just like every other "legal" financial investment product we have experienced since the "big bang".  Several top rankers will be legally syphoning off expenses and commission, maybe even salary, and probably on a very lucrative scale, whilst the masses funding the endeavour are constantly led to believe they are getting value for money.  These people may even award themselves bonuses! Are accounts produced?  P+L sheets?  Balance sheets?  Is there an annual meeting of investors where they are briefed on the previous year's activities and the prospects for the coming year??
Why would a "Racing Club" sell off a hugely promising asset to a competitor rather than see it run in the club colours and possible even become as good at racing as its parents?  And were all "members" consulted about it and allowed a vote on the proposal?  Almost certainly not to my mind.  Anyway, people can do what they want with and write off their own money if they choose - no matter where it goes and how it is used.
Report truehoncho August 11, 2021 11:26 AM BST
I think your point about selling is a good one Loyal. On the face of it a club is just that a club and exists for its members and attaining the goals those members aspire to. I suppose in a way it's a bit like an owner breeders dilemma if they get a nice filly. Do you keep and breed her or  do you sell for a good price as you think the money may advance your breeding operation more effectively. It seems to me in this case Elite achieved neither.
In fairness they may have a long term plan with the money and I'm sure the members will have been informed what that is. At the end of the day the value of the membership can only be judged by those that take it up and they seem to have no problems getting members.
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