I want to be a part of horse syndicate…

I cannot believe how much horses cost today in comparison to how much they cost even 15 year ago. I found an old receipt for board from 1997 (when I was full leasing an Arab). I was at a hunter jumper barn with a heated indoor, many full time staff members, etc and it was only $375 a month!!!! I pay over $100 more than that these days for a barn without an indoor. I know that times have changed and there is no use complaining about it, but what I do want to point out is that it is much more expensive these days to own a horse.

Showing a horse has gotten increasingly expensive as well. When you have show horses being sold for millions of dollars it makes it much harder for your everyday person to break in to the big leagues. That is why many riders have taken a page from the racehorse play book and started to create syndicates.

A syndicate is a group of people, sometimes as few as three and sometimes as many as 4o, who come together for the sole purpose of owning a horse. A syndicate generally a limited liability corporation (LLC) with its own organizational set up, bank account, and goals. It is totally the idea of a single horse being a business.

Syndicates start, for the most part, because a rider has found a horse that they think can compete at the top levels but they are not able to personally afford it themselves, nor can they find a single sponsor to help them with the purchase. The rider will work to get a group of people together for the price of the purchase and also to pay a certain amount for the upkeep and care of the horse. In exchange whatever winnings the horse earns will be put back into the bank account and paid out with dividends checks. Some syndicates have all owners with equal percentages, i.e. everyone pays in 20% and they will all get the same percent out. Some syndicates has someone being the primary and paying a larger percentage of the costs, but that person will also have a larger percent of the returns.

So why would I want to be a part of this? I have always dreamed of owning a top horse. With my reasonable salary it can be tricky owning Gen and paying for the Schoolmaster. There is no way I can afford to ever buy a fancy horse, let alone pay all the costs to keep it healthy and in the show ring. I honestly don’t even think I can afford to be a part of a syndicate of 40, but at least that I can still dream about. I have always wanted to be in the winners presentation at Devon, this could be my way in. Maybe someday someone out there will want a syndicate of 80 people that I can afford to be a part of, but for now I guess I will just have to keep dreaming and working to try and put myself as a rider in to the wins!

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8 thoughts on “I want to be a part of horse syndicate…

  1. I think syndicates are a cool idea. I saw one online for an appaloosa stallion even! – It would be neat to be a part owner of a big horse doing big things!

  2. I want to be part of a horse van syndicate 😛

    I worked for a big breeding farm in Hopewell and my bosses were part of several syndicates. It was neat because I got to meet a lot of really big name horses.

    As for the price of keeping horses… it seems to be even worse out here! There are still a lot of really cheap boarding facilities outside of our state. That’s why SRF sends so many of its retired horses out of state. Lots of people are willing to give us pasture board with care for $100 a month, but good luck getting it under $300 in NJ!

  3. Like I keep telling you … find a job in Ohio and move out here where cost of living is so much better. You could decrease board, get a second horse, and buy that farmette. 🙂 Plus I would be within easy driving distance. I think Ace and Gen would be great friends.

  4. Costs are definitely regional. I wouldn’t pay over $200 for something without an indoor, and they better be getting GOOD care and stalls for that. 3 years ago I was paying $300 for stall board with individual turnouts all day (no grass); a small, unheated indoor; and access to a few nice, but short, trails. 24/7 pasture board was, I think, $150 and went up to $175 when I was there. My two therapeutic riding center horses that live with me for the winter bring in a whopping $75 each a month for me (but that pretty much exactly covers their expenses, so I’m happy to do it). So I agree – move somewhere cheaper and you’ll be one step closer!

  5. Gotta say yes to OH, I used to live there (in MO for college now) and it was horse mecca. And the costs aren’t too bad but not epic low. TONS of eventing, dressage, hunter, western, barrels etc etc there.
    Anyways, I also have to agree with the regional costs thing. I pay $375 for full board, fully staffed, amazing intructor, indoor, outdoor, pastures, indiv paddocks attached to stalls, auto waterers and XC schooling field. In OH to get that it would be at least $600/mo.

  6. Times are tough…I just want a second horse, but can’t afford even at my $350 a month rate….can you believe I was paying $575 at one point with a another $140 a month for 4 lessons….uggh. I was crazy…much more sane these days:-).

  7. I am trying to syndicate out my colt. He is a race horse to be. His lines include the great secretariat, war admiral, among many others. My cash flow is limited, and am now seeking assistance in getting him ready. I was told to sell shares. So, here I am searching for investors. I am looking for 20 investors at $3500 a share. Since I have 50% invested that way it would be equal 21 owners total, and I would still own half. Afterall, a horse with such great blood lines and looking as great as he does, I figure he will at least give back what is invested 3times over. Then there is stud after his racing that all would get part in. Let me know if anyone is interested. I can send pics of Sapphire’s Secret. He stands to be a great horse with a little help from others.

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