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I’m just posting here to advise anybody thinking of partaking in one of Nick Bradley’s Racing Syndicates to do their due diligence in advance and make sure the offering that is been presented is the best fit for them. Unfortunately I have had a bad experience with them. I joined a number of the Nick Bradley syndicates last Autumn. That was my first time joining a syndicate. My previous ownership experiences were as a sole owner. I quickly realised that the managed syndicates were not the correct option for me and so decided to exit the various syndicates at the end of the 12 month period as per my contracts.. Additionally and in line with the contracts, there is a requirement to provide one month’s notice before exiting the various syndicates. I believed I had fulfilled this obligation. Specifically, in an email at the beginning of October, I stated:
“… I would like to finalise things and exit at or before the end of this month.”
I assumed this was sufficiently clear and compliant with the notice requirements of my contracts. Following this correspondence, representatives of Nick Bradley Racing issued me a closing statement indicating that I was owed some prize money - approximately £1,000. However, they have since refused to release these funds. When I queried this, they claimed that I had not provided the required notice period and has unilaterally decided to extend my exit date to the end of December. They further stated that the funds owed to me would be applied toward training fees incurred until the end of December. I believe this approach is unfair and contrary to the terms of our agreement, especially given the clarity of my communications. I have since contacted the BHA’s ownership section and asked them if they can assist in resolving my issue with Nick Bradley Racing. However, in the meantime, I thought I would post here about my experience with Nick Bradley Racing so that anybody else considering joining one of his syndicates can carefully consider whether or not such a move is best for them.
“… I would like to finalise things and exit at or before the end of this month.”
I assumed this was sufficiently clear and compliant with the notice requirements of my contracts. Following this correspondence, representatives of Nick Bradley Racing issued me a closing statement indicating that I was owed some prize money - approximately £1,000. However, they have since refused to release these funds. When I queried this, they claimed that I had not provided the required notice period and has unilaterally decided to extend my exit date to the end of December. They further stated that the funds owed to me would be applied toward training fees incurred until the end of December. I believe this approach is unfair and contrary to the terms of our agreement, especially given the clarity of my communications. I have since contacted the BHA’s ownership section and asked them if they can assist in resolving my issue with Nick Bradley Racing. However, in the meantime, I thought I would post here about my experience with Nick Bradley Racing so that anybody else considering joining one of his syndicates can carefully consider whether or not such a move is best for them.
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It’s not something I know anything about. With hindsight I suppose an email probably isn’t the best way to wrap things up, especially if you didn’t receive a response from them too.
I hope it’s all resolved to your satisfaction though. Good luck. |
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With hindsight I suppose an email probably isn’t the best way to wrap things up, especially if you didn’t receive a response from them too.
But he did receive a response, s.kenbo. Following this correspondence, representatives of Nick Bradley Racing issued me a closing statement indicating that I was owed some prize money - approximately £1,000. |
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Someone on a recent podcast,either barstewards or AK referred to Bradley as an"urchin"
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This one, lead on
https://x.com/BarstewardsThe/status/1860784802795778325 |
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Cheers,George...
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Was thinking about buying a share in a Middleham Park horse but had been looking at Nick Bradley as well. Cheers for the info beefster1.
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If they want to be stupidly pedantic about it, terminating the contract within the same month is not one month's notice. For example if I wanted to terminate by the end of December, I would send the email whilst we were still in November.
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Do I get a share of any prize money? If so, when is it paid?
Yes, you are entitled to the % share of all earnings on the horse. Prize money is calculated at the end of the season, so for Flat horses we do the calculations in December and settle the accounts in January. National Hunt accounts are calculated in May and settled in June. What happens if I decide I don’t want to be an owner anymore. How much notice do I have to give? You can terminate the contract at any point after the first 12 months. We require 1 months’ notice and it's just a case of dropping us an email. Had your 12 month contract reached that '12 month' threshold when you emailed them giving a month's notice? |
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the website has some shock grammar
How is prize money distributed in britain? 80% of the prize money goes to the owner's,  |
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It's not good at all, I was just looking at how they might attempt to wriggle out of it via a technicality. I've not been involved in syndication, presumably disposing the horse is not on the table unless all shareholders, and those running the syndicate agree. Similar to any subscription service, their predominate incentive is to keep patrons on the hook for as long as possible. The perceived value of the horses you had an interest in would play a part of course.
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I don't want to be too harsh Beefster but your email is ambiguous. Cider is correct. Saying that you would like to leave "at or before the end of this month" isn't giving 1 months notice. If , for example, you were doing it today it could mean that you wanted to leave on the 31st December, or any day between now and then. And neither of those are 1 month. You would need to say "I give notice that I wish to terminate this agreement on the 11th January 2025" (if sending it today). The previous contact is irrelevant as it is simply a discussion, not a decision. The point is that IF your horses had won £100k in the period before a month expires, you would have been entitled to your share of it. I am not saying in any way you would be dishonest but they need an unambiguous, clear statement that you wish to leave in 1 month for it to be effective. I regret yours was not. I had exactly the same problem with a membership a few years ago....and lost. Sorry to be the bearer of bad news.
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Not answered whether he sent his email AFTER the 12 months had elapsed.
Could have started the contract in November but has emailed in October. |
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Am I right in saying that by joining his syndicates you're only in effect leasing the horses. You never actually own them.
Bradley, to my eyes anyway, wants to create a valuable broodmare band for himself and get everyone to pay for their training fees along the way. |
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With him you buy your share, so you own a percentage and pay monthly fees
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Thats what I cant understand
As I understand it you own a percentage share in the horse 2.5% - 25%, So if you wanted out of the syndicate the percentage you own still has some value. Or has the OP just given his shares back to NB ?? |
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You would have thought so flatcap but I don't know how that works with him.
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Thing with most of these syndicates is that you are paying a tidy sum in the 'monthly training cost'to someone a very tidy wage also there never seems to be a reduction in fees when 'out of training' when season ends.Some yearly fees amount to £40k a year.
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Value Racing Club charge £1400 PA for a 5% share which covers all expenses for a year . James Couldwell who runs the syndicate is a decent honest person
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Thats very reasonable mrcombustible,Bradley charges £369 PM for 10% which equates to £3690, times that by 10 shares is £44280 Per annum wether in training or not.
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44280 is huge for a year, Bradley must be taking a huge management fee
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Sorry I made a mistake . £1500 not £1400 PA
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I pay £140 a month but we pay for any additional vet bills, I would imagine NB is all in with nothing else to pay, so he will pay all additional costs. Still steep though imo but nothing on the owners group, granted its more a club, 3000 x £50 a horse for a year.
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Highclere are charging in excess of 70k a year for training/administration fees per annum
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Surely not ? That can't be correct can it ?
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I just clicked on a Highclere syndicate and training fees payment for 2nd year is 5,500 for 5%. So that's a whopping £110k a year !
Robbers imo. |
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I have had the same shoddy service Beefster. I would urge anyone to get involved with caution.
The Pros - Generally they make the effort to try and accommodate badge requests , including extras within reason. I think Nick is quite good at race planning and finding winnable races for horses, including soft black type races in France. The Cons - much longer list…..inadequate updates on your horse. Often 30 seconds soundbyte a month. Zero interest in betting, the info you receive on your horse is marginally more than what is in public domain. They don’t keep a sound check on the accounts, had statements with missed payments which were not correct, even recently had a payment for a horse that retired after never making the track 16 months back ! No apology or nothing on this, the whole tone and demeanour comes across as he is doing you the favour by investing…..constant portrayal of how busy and how many hours he works. I’m sure that’s true, but hard to sympathise with someone running their own business in an industry that is a passion! I’d happily swap for the right money. Race previews of your horse are just generic, should have an Ew chance today. Never any recommendation to bet cos we really fancy it. When your horse is destined for a career of Class 6 handicaps, the updates and feedback, and planning becomes less and less. I had two horses that were both kept in training longer than necessary, probably cost me about extra 1k in fees. When you question anything like this, the whole tone is he knows horses/racing far more than some pleb in a syndicate. One horse he talked up as having a strong pedigree that even if she could not price on the track, she would hold her value at the sales for breeding. She cost about 30k and was useless, kept in training about 7 months long than necessary and was given away for nothing in the end ! The whole business model relies on volume. Punts on lottery tickets with the need for 10%-15% to be successful and act as flag bearers for the business. However , they don’t really have the staff to support approx 40 horses on training and provide a good service to customers. Basically, you are not the owner really, you are someone who funds him being the owner on such a scale. Their ideal customer is a retired casual fan who watches ITV racing on a Saturday, will enjoy turning up to watch their horse run and have a score on it regardless. Believe it or not, I have not actually covered everything here! The rest is more trivial really. |
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Thanks thecribs, was thinking of buying a share in one just to see how it worked out but i think i will keep my money in my pocket, like you say most of these syndicates are paying for someone elses hobby and etting well paid for it.
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I can't see the appeal really. For betting purposes you'd be at the back of the queue anyway, just ahead of the public. The costs are going to scalp any profit, even if you land on a decent one. If I was going to be involved in ownership I'd want to be directly involved in the decision making and planning. But that's because I'm pretty knowledgeable, and would want my judgement tested. The syndicate operators get any glory, playing with other peoples' money. Each to their own isn't it, there is probably a demand from people that have no interest in decision making, like those who have their investments managed by people like me. There's no pockets in a shroud, and I suppose you get a flavour of the ownership experience without the more extreme expense of footing to total bill for keeping even one in training.
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You can live with horses not working out or being very moderate, but you just want to feel like you are getting a service for what you are paying for. Not radio silence on the horse for months in some cases, plans not adhered too and with no explanation why, then when you ask you get a curt reply which to paraphrase, it’s sales season don’t bother me with this ****…..that’s basically what he is saying.
No mention of the horses most recent piece of work, what it did, who it worked with. I asked this question once, response was the trainer cannot share this information as they have to think of all their owners! What a load of bollox, I asked out of curiosity really, it was a 30 second video that determined nothing to anyone who watched it. The final annoying bit for me, you can buy into a yearling and then hear nothing about it for 3 months, meanwhile you get regular emails/voice notes about other yearlings (not sold yet) who are really showing up well and he advises you get involved whilst you still can. The two ones who received this attention last winter are called Lift Lady and Realise The Dream…..you can search them to see how well they have showed up on the track ! |
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The best shares will be moved on under the table, surely. I imagine the general public gets last pickings. The same as English people who try to buy Irish pointers to be trained in England.
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The experience you outline though thecribs doesn't even make it sound like an effective operation in terms of making customers feel valued. Which should actually not be too difficult, considering the significant contributions that members are making.
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They must tempt a few in with the Fev Rover story?
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Yes you nailed it George. That’s the 10%-15% flag bearers I referred to, they have had some great success with a handful of horses in the last 5 years. Fev Rover, Dandalla, Mystery Angel etc…….he needs to keep going out and buying 30 plus yearlings every summer in hope he lands another one of these , as they are his best marketing tool available.
These are what draw people in to chase the dream, and I’m sure the people who were involved in them did well financially, and enjoyed great success. |
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I can't say anything negative about the Katie Scott Racing Syndicate. We get tremendous value for money. Stable visits, regular updates from the gallops, our own what's app page, update night before and on the day when they run. Owners badges plus offer of badges on days where other owners can't go.
Plenty bad ones but plenty good ones as well. |
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Never had any issues, regular updates, answers all questions, keeps you abreast of plans, never had any issue with badges or extras. Have brought into the better looking purchases. This year he listed those going to the sales and that all statements would be sent out after. had them all in the last 2 weeks. Not sure what people are looking for, for me its a well run syndicate that doesn't cost fortunes. As for the 10%-15% big success do the big boys get much more than that?
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