How will I know what is happening with my horse?
Being an excited and passionate owner of a race horse myself, I know what it’s like to want to know your horse’s every move. When racing with Irwin Thoroughbreds, you will experience the emotional journey that the thoroughbred takes us on. From being broken in as a youngster to having its first debut on the race track, all owners will “Join the Ride.” Irwin Thoroughbred’s website incorporates a variety of communication options for its clients. Each horse has their own page with all the latest information updated and is only accessed by the owners with their individual username and password. Nominations, acceptances, written progress updates, recent photos will all be on this page. I will also contact each owner consistently via email, sms and phone calls.
Will my horse return a profit?
Whilst that is the desired outcome, not all horses make a return on investment. Irwin Thoroughbreds does all it can in selecting and racing fit and sound thoroughbreds that will perform on the race track and earn prize money. The most important thing to keep in mind is that thoroughbreds should be treated like an investment but fun and excitement is the main aim!
How much will my horse cost?
Each share is different depending on the sale price of the horse and the associated bonus schemes applicable with each horse. I have conducted a study on horse’s performance on the race track Vs their purchase price from the sales and have found that the lower end of the market performed extremely well. Irwin Thoroughbred’s aim is to get more and more people involved in racing horses therefore we aim to buy horses at the lower end of the market. We also like to use trainers that represent great value with their fees, strike rate and the facilities they offer. This is also true when the horse is spelling (going for a rest) and being broken in. A 10% share can go from 4k to 12k. Ongoing monthly fees are fixed and can vary from $300-$350 per month for a 10% share. If the horse has been spelling for a long period of time and the money in the horse’s account is building, then the manger (Drew Irwin) will reimburse a portion of that money.
How do I pay for my horse?
All owners are invoiced for their initial share cost of the horse and the money is transferred to the horse’s account that has been set up by Irwin Thoroughbreds. Ongoing monthly fees are paid by either direct debit, credit card (2.2% surcharge) or debit card. All owners will be invoiced quarterly on their monthly fees.
How is Irwin Thoroughbreds renumerated?
Irwin Thoroughbreds puts a small margin on each horse syndicated which can be seen in the Owner’s Agreement or Product Disclosure Statement (PDS).
A management fee of $50 per month is taken out of the fixed monthly fee. This fee is for handling all the financials and communications of the horse.
How and when is prize money paid out?
All prize money (except for the 10% to the trainer and 5% to the jockey) is deposited into the horse’s own account which is opened up by Irwin Thoroughbreds. At the end of each racing preparation of the horse, if the money exceeds more than $200 per share holder, then all owners will be paid an amount of prize money which is relevant to the share they own.
When do I get to see my horse?
Along with regular photos and videos of the horse, everyone is encouraged to see their thoroughbred horse at its stable and not just at the race track. Stable visits can be arranged at a suitable time for the trainer. Visits will also be arranged by Irwin Thoroughbreds with a BBQ and owner/trainer meeting organised.
What if I decide I no longer wish to remain in the Syndicate? Can I sell my share?
Where shares are owned (not leased) by the Member, that Member has the right to sell the share to any prospective purchaser for whatever consideration the two parties agree upon. However, any purchaser must be approved by Irwin Thoroughbreds and the new owner must abide by existing Irwin Thoroughbreds Terms and Conditions. Irwin Thoroughbreds is not obliged to sell the horse on behalf of the owner but may do so. If Irwin Thoroughbreds is instrumental in selling the horse’s share on the owner’s behalf, they are entitled to charge a commission of no more than 8% of the sale as well as an admin fee.
Who decides to retire the horse and what happens to the horse?
The welfare of the horse is most important and the horse will tell you when it has had enough or perhaps should be competing elsewhere. In most cases, it will be up to the majority of the owners who decide which is the best option for the horse. Irwin Thoroughbreds will look at the best monetary option for the clients.
Why race with Irwin Thoroughbreds?
I have been interested in horses and have followed racing since I was a child. I have completed a Diploma of Equine Management at Marcus Oldham College and was the lucky recipient of The Australian Thoroughbred Scholarship. I believe my knowledge learnt thus far along with the contacts made will see Irwin Thoroughbreds succeed. I want to get people involved in racehorse ownership and not only take clients to the races and give them the thrill of winning, but inform them on the whole process and journey of the horses they have invested in.
Please do not hesitate to contact me if you have any further questions!