How it works…

FAQs

• How much does it cost to join Old Gold Racing?
  A share in an Old Gold Racing horse usually costs £60 for the syndicate term, in addition to the welcome pack you select (£0 for the Digital Pack, £5 for the Old Gold Standard envelope and £18 for the Gift of Gold gift box. For that one-off fee, owners will become a member of a syndicate and enjoy all the benefits on offer. Old Gold Racing will be rolling out premium memberships in the near future, which offer everything in our existing membership, plus some great added extras.
• Can I purchase an Old Gold Racing membership as a gift?
  Yes, of course! We think Old Gold Racing memberships make great presents, and we offer ‘The Gift of Gold’ package for anyone who is thinking of purchasing a membership for a friend or loved one. The Gift of Gold comes in a beautifully designed box, along with racing goodies and a framed photo of the horse.
• Are there any hidden costs?
  No, the fee is a flat, one-off cost for the term. The only additional costs you may incur are in terms of travel, and food and drink at stable visits.
• Is Old Gold Racing a racing club?
  No, Old Gold Racing is a racing syndicate management business, meaning that it facilitates co-ownership of racehorses.  A racing club involves some of the perks of ownership, without its members actually owning any of the horses. Old Gold Racing does however share more characteristics with racing clubs than most of its competitors. We provide a consistent stream of high quality content including interviews with jockeys, trainers and stablehands, as well as exclusive on and off course events.
• What is a racing syndicate?
  A racing syndicate where two or more people pool together their money to purchase shares in a single racehorse. Syndicate members also make a financial contribution to training fees, travelling costs and veterinary care. With Old Gold Racing, all these costs are covered in a single, one-off payment for the year, with no hidden charges.
• What happens at the end of the syndicate term?
  Syndicate members will be asked to renew their membership at, or just before, the end of the term. The amount charged will be less than the original fee as it will not include the initial cost of the horse. Should less than 51% of members of the syndicate choose not to renew by the end of term date, the horse will be sent to the sales and the proceeds split up among syndicate members (less any sales fees). In the event that more than 51% choose to renew, but less than 100%, the Company agrees to find buyers of the outstanding shares at a price of its choosing.
• Will I receive a share of the prize money if my horse wins?
  Yes. Prize money will be divided equally among syndicate members, depending on the number of shares they own. The prize money will accumulate until the end of the syndicate term, before it is then divided amongst the owners.

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• Do I have to pay for stable visits?
  No, stable visits are completely free to all syndicate members. The only costs you have to cover are food and travel. Members will be invited to apply in advance for visits and if oversubscribed attendance will be apportioned by ballot.
• How do I know my horse has been entered or declared?
  We send out emails as soon as your horse is entered and declared. We also send out a review of the race the day after.
• How can I apply for an owners’ badge?
  On a horse being declared to run, members will be invited into a ballot for owners’ badges via email (and via the app after it is launched). We will then let you know by email whether you’ve secured your owners’ badge or are on the waiting list. Old Gold Racing will also seek discounts for entry from racecourses for syndicate members with an interest in a horse that is running that day. We will always try to secure as many owners’ badges from the racecourse as possible as well as seeking discounts.
• What happens when a horse is retired or injured?

  We care immensely for all of our horses and will do everything that we can to treat and rehabilitate any injuries that occur.

  If a horse is injured, there will be no additional cost to owners. Old Gold Racing will foot all of the bills, even if the syndicate funding has run out.

  If the injury means that the horse will never return to racing, but can live a happy life in another equine sphere, then we will use our contacts to find a suitable home. We work with the retraining of racehorses, among others, to ensure that all Old Gold Racing horses have a happy retirement. The horse will either be loaned to its new home or signed over with a non-racing clause and a first refusal cause if circumstances change. The same applies to a horse retiring sound. We will find and vet suitable homes.

  If the horse retires unsound, it will be treated by Old Gold Racing to return it to full soundness. If this is not possible, then we will take professional veterinary advice on the best course of action. We will always be advised by equine professionals, but please rest assured that we will do our utmost to ensure that our wonderful horses go to loving homes.

• Is my horse guaranteed to run?
  Unfortunately, no. Horses, like people, sometimes get ill and/or injured. Of course, everyone involved in training your horse(s) will be doing their best to ensure this doesn’t happen, but there is no guarantee. This is one of the reasons that we will be advising people that it is beneficial to purchase a share in 2 different horses rather than purchase 2 shares in 1 horse.
• What is the price breakdown for a share?

  £17 of every share is the approximate cost of buying the horse, including all of the fee’s associated with purchasing, like agent’s fees, hammer fees, etc. This means, that £17 x the number of shares will equal the cost of the horse to Old Gold Racing.

  £25 is the approximate cost of keeping a horse in training for the syndicate period. This includes, race fees, stabling and training fees, veterinary fees and farriery. If there’s anything left in this purse at the end of the syndicate period, it will be returned to the owners via their e-wallet.

  £18 is Old Gold Racing’s management fee. This pays our staff wages and ensures we can host all of the free and heavily subsidised events, plus much more.

• I still have a question, what do I do?
  If you have a question, please feel free to call us on 01242 650 630.