03/10/2017
Frequently Asked Questions, FAQs
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Syndications Frequently Asked Questions - THE TOP TEN FAQ'S -
WHAT DOES THE SHARE PRICE COVER? At NXG Racing, we pride ourselves on 100% transparency and full disclosure. We do not take the trust granted to us by our clients for granted and being a licensed syndicator, each horse is sold via a Product Disclosure Statement (PDS) where you will see all costs are fully disclosed (including our profit margin). Covered in the purchase price, but not limited to, is the below: The purchase price paid by NXG Racing(including GST) to the auction house which the horse was purchased from Veterinary and sales inspection costs Six months' costs (or as otherwise stated in the PDS) incurred from the day we purchase your horse. This includes breaking in, transport, all vet work, pre-training and training fees, agistment fees, etc One year’s worth of fall-of-the-hammer insurance with William Inglis & Sons Insurance Pty Ltd The BOBS Bonus & BOBS Extra registration fee (if eligible) The Super VOBIS Bonus & VOBIS Gold registration fee (if eligible) The Golden Slipper first nomination fee (if the horse is a suitable, early type) The Blue Diamond first nomination fee (if the horse is a suitable, early type) The applicable race series nomination fee (Magic Millions, Inglis, Karaka) You're won’t see a bill until your six months in!
WHAT ARE THE ONGOING COSTS? Racehorse ownership can be more affordable than you realize. The table below shows what owners should budget for to have a horse trained by a Leading Trainer at a Sydney or Melbourne Metropolitan Racetrack, including all the typical costs, excluding any surgery:
Should a client purchase a larger equity percentage then the costs are simply multiplied pro-rata. These budgeted costs make no allowance for any prize money won and with prize money at record levels, racing has never been more affordable and profitable.
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Frequently Asked Questions, FAQs In each of our yearling’s Product Disclosure Statement’s we give a full break down of the costs that your likely to be fronting when your horse is two, three and older. Our budget above takes into account but is not limited to; our trainer's fees, spelling fees when your horse has a well-earned rest from the trainer, veterinary fees, trial fees and our management fee of $30/month per shareholder. Other costs include farriers, chiropractors, dental work, pre-training, physiotherapy and transport to races, trials and spelling property/pretrainers.
HOW DOES PRIZEMONEY GET PAID? Racing NSW distributes prize money to all individual owners, in accordance with the percentage of the horse owned by each owner. This prize money is normally direct deposited into the owner's nominated bank account, by Racing NSW. There is a 10% deduction for the trainer and 5% deduction for the jockey. DO YOU CHARGE A MANAGEMENT FEE? Yes, we do charge a management fee. The $30 monthly fee covers our costs for the administration of the horse, management tasks, event planning, as well as ongoing costs for supplying information to shareholders and for decision-making processes among shareholders, which will occur from time to time. Please note our monthly fee is limited to $30 per month, so regardless of whether you own 1 horse with NXG or many, you will only ever pay one monthly fee of $30 per month. WHAT ARE MY OWNER PRIVILEGES ON RACE DAY? In the past couple of years both Racing NSW and Racing Victoria have raised the number of listed owners in the race book from 10 to 20 thus ensuring a 5% owner his or her name in the race book. As the race clubs allocate 20 tickets per horse, 5% owners are guaranteed 1 ticket, 10% owners are guaranteed 2, etc. Depending on attendees, we will allocate additional tickets to attending owners. On race day, you are entitled to the following: Free course entry, members entry and owners enclosure entry for your race Free race book upon collection of entry tickets Discussions with trainer and jockey pre and post race Entry to winner's room or losing connections room to enjoy hospitality of the race club and watch the replay of the race with the Next Generation Team, your trainer and your co-owners Access to owners and trainer's area upon race club availability WHAT’S YOUR POLICY ON GELDING? The recommendation to geld a colt will come from NXG Racing following consultation with the trainer and veterinarian should the horse become any of the following: Too heavy Have unmanageable behaviour at the stable and/or at the races Suffer a debilitating injury requiring an extended period of rehabilitation in which the colt should be kept as light as possible Lack performance results on the racetrack The first two of the above points can develop as the colt matures. If any are inhibiting the colt to reach his full potential on the racetrack, or if the weight is causing negative issues on his joints, NXG will seek approval through a majority vote with the owners, to geld the horse. The third point often requires the horse to be as light as possible for optimum healing results, thus gelding is the best option. A vast majority of colts require gelding to ensure the optimum racing career results. CAN I SELL MY SHARE WHENEVER I WANT TO? Absolutely, it’s your share and you may sell it to whomever you would like to at any point of the partnership. However, as with all investments, the share value does fluctuate depending on factors including performance, age, etc, and there may not be a buyer for it at the time you want to sell. As a management company, we are happy to offer your share(s) to other members of your horses syndicate and organize a valuation for you from an official valuation on your behalf and at your expense.
WHAT HAPPENS IF THE HORSE HAS LIMITED ABILITY? We will take every path to ensure your horse gets its opportunity to shine and win races for you, however not all of them will. Should your horse not be showing the zest for racing that it once did or it never has, the recommendation to sell will come from the stable and the decision is up to the partnership with the majority vote being the path taken. Should selling be the decision made by the majority we will either try to source a buyer via a bloodstock agent or recommend that it goes through a public auction at either William Inglis & Sons or Magic Millions where the public will decide on its worth.
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Frequently Asked Questions, FAQs
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