Racehorse Owners Association to launch syndicate drive to tackle falling ownership numbers

Frank Dalleres
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Royal Ascot 2016: Day Four
2016 Royal Ascot winner Quiet Reflection is owned by a syndicate (Source: Getty)

British horse racing chiefs will on Tuesday launch a drive to reinvigorate the industry by encouraging more people to sign up for syndicates and group ownership.

Royal Ascot winner Quiet Reflection and Cheltenham hero Sire de Grugy are both group-owned, and the Racehorse Owners Association (ROA) hopes to halt a decline in active owners by simplifying the administrative process.

President Nicholas Cooper will tell the ROA’s AGM: “This campaign will involve the development of an online central ownership hub that illustrates the adventure that surrounds owning a racehorse and will explain how to get involved. And, in the spirit of unity, racecourses have agreed to play their part in promoting ownership to racegoers.”

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Cooper believes last week’s Brexit vote could benefit racing by £30m per year and plans to outline why in his speech.

He will add: “It was European State Aid legislation that provided the underlying reason for racing not receiving its full income from betting and – when that legislation is swept away – we can look forward to an estimated leakage of £30m-plus per annum being returned to British racing.

“We can also look forward to the setting up of a horseracing authority for the purpose of distributing this money throughout racing without the sort of bookmaker involvement that has so illogically been pivotal to the levy system for the past 60 years.

“And we can also look forward to putting together a serious plan for the Tote so that British racing, working as one, obtains a pool betting licence when Betfred’s exclusive licence expires in 2018.”