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Hibore
06 Feb 20 17:01
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Date Joined: 23 Jun 07
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Really !!!!! - £428,000


Getaway Trump

Racehorse Syndicate
Details: SEVEN-YEAR-OLD BAY GELDING
TRAINER: PAUL NICHOLLS (SOMERSET)
Pedigree:  Getaway ex Acinorev
Syndicate end date: 01 FEBRUARY 2021

Buy a Share for £107 (inc. VAT)
Getaway Trump ran with credit in two starts over fences in the autumn of 2019, before Paul Nicholls temporarily shelved that plan and switched the seven-year-old back to hurdles. Testing ground and a breathing issue meant that Getaway Trump did not shine in the Grade 1 Christmas Hurdle at Kempton on Boxing Day, but having now had a wind operation, Paul Nicholls is really looking forward to aiming for some exciting spring targets with the son of Getaway. He is likely to remain over hurdles for the rest of this season, before a possible return to fences in the autumn.
This syndicate term lasts until 1 February 2021, with no commitment to continue at the end of the syndicate period. Please click here for full details of the end of term process.

This syndicate is divided into 4,000 shares and each share costs £107 (including VAT). View price transparency. There will be nothing extra to pay, no matter what costs are incurred during the syndicate period. The syndicate is subject to the usual 'Owners Group' terms and conditions. The current maximum number of shares that can be purchased by one person is 10.

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Replies: 80
By:
the dealer
When: 06 Feb 20 17:44
Yes GREED has certainly got in the way, obscene imho
By:
neill d
When: 06 Feb 20 17:52
you'd want to be very stupid
By:
maleuk01.
When: 06 Feb 20 18:17
unreal!

Are there really 4,000 people that stupid?

£428,000 minus say £36,000 for training fees is £392,000 for a share of its prize money for 12 months. The horse isnt worth that for full ownership, never mind 12 months.

Do that for the next 5 years and the real owner has made a fortune.
By:
maleuk01.
When: 06 Feb 20 18:24
If you arent gauranteed an owners ticket everytime it runs and entry to the parade ring, full pertentage of any onward sale and prize money then you arent an owner.

you are simply paying for someone else's hobby/fees.
By:
ColeWorldNoBlanket
When: 06 Feb 20 18:30
Just bought 10 shares, wish I'd seen this comments first Cry
By:
impossible123
When: 06 Feb 20 18:30
That's steep. A benefit for the present owner/s. Does one get all the perks at racecourses each time the horse runs? Otherwise certification requires for the sucker taking up the offer.
By:
tomhunt
When: 06 Feb 20 18:40
The share price is £107. The full price breakdown is:
The capital value of Getaway Trump is £250,000, which works out as £62.50 per share.
Our current management and service provision fee is set at £13.59 per share.
The all-inclusive racing/training cost is set at £7.50 per share.
The cost for mortality insurance is £5.45 per share.
The Racehorse Rehabilitation contribution is £0.13 per share.
The VAT is £17.83 per share.
There will be nothing extra to pay, no matter what costs are incurred during the syndicate period.
By:
flushgordon1
When: 06 Feb 20 18:46
250 k  wouldn't make that at auction.
By:
wondersobright
When: 06 Feb 20 18:48
only whopping mugs need apply
By:
SlippyBlue
When: 06 Feb 20 18:49
That is a complete joke.
By:
bettysboy
When: 06 Feb 20 18:50
4000 shares? - what is the point?
By:
maleuk01.
When: 06 Feb 20 18:50
£54,360 management fees.

Nice work if you can get it.

How is that horse for 1 year worth £250k? No way near it.

Though £30k training fees for  Nichols seems about right, though i guess that is £36k inc vat.

Someone is onto a nice earner here and it aint any of the 4,000 investors.
By:
ImSoLuckyLucky!
When: 06 Feb 20 18:57
Training fees slightly less than sending your
offspring to ETON

LaughLaughLaugh
By:
1st time poster
When: 06 Feb 20 18:58
ted walsh said all 4000 can come along for tera on sunday, LaughLaugh
By:
Hibore
When: 06 Feb 20 18:59
Pentland Hills syndicate is full. God knows what that was charged at ?

£150 - £175 or more .....
By:
wondersobright
When: 06 Feb 20 19:04
ted said the more the merrier

have 40,000 fellas if ya like
By:
impossible123
When: 06 Feb 20 19:05
4000 investors? 4000 plonkers more like unless Getaway Trump wins the King George at Ascot (not Kempton) or The Arc at Longchamp. You know the saying "A fool and his money are soon parted."
By:
Hibore
When: 06 Feb 20 19:12
There will be nothing extra to pay, no matter what costs are incurred during the syndicate period.

At least if the horse is kidnapped you have the £250,000 ransom covered.
By:
flushgordon1
When: 06 Feb 20 19:14
I think Pentland hills was £50 I remember a friend saying she had bought her husband a share for his birthday.
By:
themightymac
When: 06 Feb 20 19:34
Hibore LaughLaugh
By:
impossible123
When: 06 Feb 20 19:38
A classic sharp practice in operation exploiting the ignorance of amateur horse racing fans.
By:
3132
When: 06 Feb 20 19:43
They have 40(+) horses now.

The Management Fee’s for those must run to Millions.

Buy New Horse -£80,000
Years Fee - £25,000
Travel/Agent/Pre-Train - Say 10,000

Sell 3200 Shares x £53 - Year 1

They then get another 3200 x £34 renewal in Year 2 - that’s when more big money rolls in as its only training fee they will have cost wise that year.

It’s some gig for Owners Group.
By:
impossible123
When: 06 Feb 20 19:51
A hole-in-the-wall for the operators. And, no adverse consequence eg no FCA on your back unlike The City of London. A licence to print free money!!
By:
ribero1
When: 06 Feb 20 20:45
Posted this before,about 5 years ago was having drink before dinner and got talking to a couple,don't think they're particularly wealthy but recently retired,kids flown the nest pensions etc and enjoy their racing (presumably these syndicates core market?),they told us about the horses THEY own,found it interesting,they explained the different syndicates as they'd been in them all,Elite bottom of the ladder and I think Axiom top?
It was obviously wife's passion and they went on most stable visits,told us Sir Mark was delightful and Pumpkin didn't want to know!
Saw them last festival as they came to our hotel for dinner and she told the wife their horse was running Pentland Hills,in fairness they always come up and have a bet with us and of course when it won they came to see us,wife asked if they'd been in parade ring etc but they said "oh no not allowed" but obviously over the moon going around telling everyone their horse had won and when we got back to the hotel that night the concierge said to me "we've had the owners of the first winner in last night!"
Bumped into them 2 weeks ago and he told me he had bought into one with Skelton.Obviously massive bloody con but I would have to say this couple love it and no doubt think they've had great value for money.
By:
the dealer
When: 06 Feb 20 20:52
The idea to get people involved in racing is great, the majority probably do think it's good value. I have had this debate a few times on social media and judging by the replies, the owners cant see or don't want to see it's a massive rip off.
By:
ribero1
When: 06 Feb 20 21:00
Elite,Owners and Axiom same firm I believe?
By:
3132
When: 06 Feb 20 21:09
Yeah all part of Wentrow group.
By:
Cider
When: 07 Feb 20 09:14
The value of something is the market price, as long as there's transparency I don't have a problem with it. People willingly pay similar to watch 20 something year old multi-millionaires kick a football around from a distance for 90 minutes. And there's no chance of any change out of that.
By:
kevo
When: 07 Feb 20 09:30
I suppose the people who buy into this get the same satisfaction as those who sponsor a Penguin or Polar Bear each month.
By:
the dealer
When: 07 Feb 20 10:30
Cider it's not the money, it's the number of shares they sell in each horse that just doesn't sit right with me.
By:
Hibore
When: 07 Feb 20 10:43
What is clever is that you are restricted to only 10 shares. They make you think that you need to buy them before they run out.
10 Shares in Getaway Trump is £1070 for a quarter % share. That is criminal.
By:
impossible123
When: 07 Feb 20 11:08
It's criminal the lease is only for 12 months; one could probably buy the horse outright with £428k £(4000x107); if the venture is renewed each year for 3 successive years the overall cost would be £(3 x 4000 x 107) = £1.284m (excluding training fees). The exorbitant price of £107 per share is to pay administration and salaries of directors of the entity.

Why not just buy a similar horse as Getaway Trump for about the same price (£400k/£500k), and then pay the training fees (£8k/9k) separately every quarter in advance? As such, one owns the horse outright, and not for a year. It's an absolutely no brainer.

Buying into the lease at £107 per share is akin to feathering the nest of the directors of the entity for sure.
By:
ribero1
When: 07 Feb 20 11:42
Agree with Dealer,its the amount of shares they sell that's not right but these syndicates are everywhere and I appreciate others are run differently but the bottom line is the people at the top are creaming it in but I guess the argument is if they are successful like say Middleham Park they deserve it.
By:
Hibore
When: 07 Feb 20 12:20
Middleham Park is a totally different business model where most horses are syndicated among 6 - 10 owners (but we pay £1000's rather than £107). Just wanted to make that clear to those who may not be aware.

Agree rib, if owners group directors get away with it and make a fortune then good luck to them.
By:
Cider
When: 07 Feb 20 12:39
The number of shares issued are freely available. For those that are participating, they know what they are getting (if they want to know), risk free, with a specific sunk cost (and a small chance of some return). It's not something I would entertain personally, but there are far worse things to get involved in. Fair play to the organisers if they can make the model work, it's not risk free for them.
By:
DIE LINKE
When: 07 Feb 20 12:40
No shortage of marks in the racing game. Plenty of mugs for the tipsters, ownership clubs, bet brokers, here-today-gone-tomorrow bookies etc. to rinse.
By:
Whippin Piccadilly
When: 07 Feb 20 14:21
I posted about this a couple of seasons ago. Getaway Trump only cost 90K
By:
impossible123
When: 07 Feb 20 14:27
It's a hobby/pastime/social event for members for a Racing Club, but definitely a business for the organisers/operators/owners of such outfits. Nevertheless, this outfit is mickey taking charging £107 per share with 4000 available.

No doubt if under-subscribed it will either be scratched or relisted with a few tweaks here and there to appeal to the suckers, naive and numbers illiterate.

Getaway Trump is a 7 yr old. Another 3 years as a racehorse on average - all things being equal; 3 x £107 x 4000 = £1.248m. A very lucrative business for the proprietors of these clubs given a horse of similar ability.

Out of curiosity how much did Getaway Trump cost?
By:
impossible123
When: 07 Feb 20 14:30
Thanks 'Whipping Piccadilly. That's shocking: £90k to buy outright, and the owners are asking for £428k to lease him for a year?
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