Buying into an Imposing Falco 2yo Colt for the Flat in 2016 / 2017 Prior to NH, with Anthony Honeyball
Like several of our trainers, Anthony Honeyball is a young, up-and-coming, committed and highly skilled trainer with a passion for National Hunt racing and an enthusiasm for developing the Flat side of his operation as well. He and his wife, the excellent rider Rachael Green, are well regarded by many shrewd judges in racing as trainers to follow. Both are steeped in jumps racing and have real depth of experience through riding for or training with Robert Alner, Richard Barber, Philip Hobbs and Paul Nicholls. Since 2006 they have had encouraging success, particularly with younger stock that they buy themselves such as Regal Encore, 2nd in a Cheltenham Champion Bumper, and Elevenfiftynine, winner of the Listed Mares’ Bumper at Aintree. The quality of their facilities and winning strike rate are both on an upwards curve. They had their best-ever season in 2015/16.
If you would like to be involved in this 2016/17 five-owner partnership, please contact Jon Hughes by phone on 01451 850780 or 07958 763159, or email firstname.lastname@example.org. Purchase price of the horse, for a one-fifth share, is £4,200 + VAT (which will be reclaimed) and the annual cost per partner will be £4,660 in advance, or £1,170 quarterly, or £390 per month, from 1st May 2016.
Buying a fifth share in the dark bay 2yo Falco Colt
- Total purchase price of the horse, including vetting, transport, training fees to end April 2016, registrations and insurance: £21,000.
- Purchase price per fifth share: £4,200 + VAT (reclaimed for each owner), paid as a lump sum on joining the partnership.
- Annual estimated training fees and associated costs per partner from 1st May 2016: £4,660, or £1,170 per quarter, or £390 per month. All prize-money and VAT to be returned directly to the partnership.
- Horse to race in the colours of one of the partners, each year by rotation.
Black Prince is an absolutely cracking, good-looking horse with a super conformation and strong pedigree. He is a lovely big, imposing animal with a great stride. As a result he will need to be given the time necessary to grow into his frame and strengthen up, but hopefully he will run towards the end of the 2016 Flat season and then regularly from 2017 onwards.
There are a number of firsts with Black Prince: it is the first time we have bought a horse in conjunction with another owner; first bought hopefully as a dual-purpose horse; first Flat horse we’ve had with Anthony and the first time we’ve reduced the number of owners to five, in view of the bargain price that was paid: a total of £21,000 + VAT from his purchase at the Arqana Deauville yearling sale in October 2015 through to when we acquired him on 1st May 2016.
He has been cantering away steadily through the spring and summer, and has already shown a decent cruising speed on the gallops as well as enjoying an outing to Wincanton Racecourse under Aidan Coleman. The work-rate will steadily increase through the summer ahead of a debut later in the year, probably over one mile, on the Flat. On looks it would be easy to assume that he is a stayer, but on breeding the optimum Flat distance could eventually be between 8f and 10f, and if he takes to jumping, over the minimum trip of two miles.
Black Prince’s sire is Falco (by the sprinter Pivotal), a top-class miler who won the French 2000 Guineas in 2008. Most of his progeny tend to win at around a mile and, indeed, we know well one of his best offspring, Odeliz, who was trained by Karl Burke to win two Gr.1s over 1m 2f. Falco has sired a number of jumps winners, the beset being Peace And Co, winner of the 2015 Triumph Hurdle at the Cheltenham Festival.
His dam is Thamara, by Street Cry who has done well from his few NH runners. He won the 2002 Dubai World Cup over 1m 2f and was a top-class sire in the US, notably with multiple Breeders’ Cup winner Zenyatta and Street Sense, winner of the Kentucky Derby. The dam line is classic Sheikh Hamdan al-Maktoum and Sir Michael Stoute, and has produced numerous Group winners, particularly at Ascot. Thamara herself has produced the winners of seven races and multiple placings, with an impressive strike-rate. The second dam, Huja, was a full sister to the very smart colt Maraahel, an eight-times winner including the Hardwicke Stakes over 1m 4f at Royal Ascot twice, while the third dam, Nasanice (by Derby winner Nashwan), was also a very successful broodmare. It will be interesting to see whether speed or stamina predominates.
Number of Partners
- Five equal partners.
- All partners to be, or become, Registered Owners.
- Racing enthusiasts, combining optimism with realism.
- Each partner has an identical shareholding of 20%.
- Full involvement for all partners in key decisions.
- Horse to run in the partners’ colours (by annual rotation).
- Owners for Owners monitor monitor all costs carefully every month and do everything possible to keep costs to the necessary minimum. However, it can be quite difficult to estimate the costs, particularly if a horse is involved in National Hunt racing where veterinary inputs can be greater, so the above should be regarded as indicative only.
- Budget for annual training fees and associated costs are estimates, based on previous horses with Anthony Honeyball. Precise amounts will vary, depending on time spent in full training, number of runs, veterinary requirements, etc.
- Precise annual accounts are produced, with any surplus distributed to the partners.
- All our costs are completely transparent and available to all partners. There are no mark-ups or hidden margins.
Regular Communication to all the Partners
- Owners for Owners is committed to ensuring that every owner is actively involved with the horse, the yard and the partnership. There is complete openness on everything to do with the horse and its training.
- The web site is updated regularly, with a monthly Latest News section and privileged access to the Owners’ Area for the partnership’s horse.
- On the 1st and 15th of the month an email update is sent to all the OfO owners highlighting the progress of all the horses and their likely race targets. This is accompanied by a fortnightly blog, The Owner’s Opinion, looking at topical owning and racing issues.
- Every Sunday there is an update email to each owner with the latest news about their horse.
- Every owner is encouraged to circulate photos or smartphone videos when they have visited the horse.
- Legally, all partners are equal co-owners of the horse and will have all the advantages of that, e.g. full access to the horse, a badge on every race day, equal share of prize-money, etc.
- Commitment by the partners is to retain the horse for a minimum of two years, when there will be a detailed review to assess performance and potential. That also provides a clear exit route for owners if required. However, because we are envisaging Black Prince also running over hurdles in his third season, this horse will appeal to owners with a longer-term commitment who enjoy watching a young horse develop to full maturity.
- At the end of the first year there is also a review when we take into account the recommendations of the trainer as to the horse’s future. This review will be done before the autumn horses-in-training sales, thereby keeping this option open if the trainer so recommends.
- All decisions on continuity to be made by the partners, taking on board the recommendations of the trainer.
- All prize-money, and any budget surplus through VAT reclaims etc., to be returned to each partner as an annual dividend.
- The horse will be sponsored, enabling VAT to be reclaimed and credited to the partnership.
- All the administration is done by Owners for Owners on behalf of the partnership.
- Very low administration cost of £150 per year, per partner, to cover VAT reclaims, book-keeping, preparation of annual accounts, administration of registrations etc., and web site updates.
Tremendous Value for Money
How does this compare with some of the larger commercial syndicates? Many double the purchase price of the horse and charge £300 or more per month for a twelfth share, which equates to around £720 per month for a fifth share rather than the £390 that Owners for Owners charges. Buying into a horse with Owners for Owners reduces the costs per partner by around 50%, with huge savings merely by cutting out expensive racing managers with high administration costs, and not charging indefensible mark-ups on the initial purchase price of the horse.
And of course another difference is the level of involvement – open access to Anthony Honeyball’s yard and close participation with fellow partners in all the key decisions relating to the horse. This is guaranteed to maximise the enjoyment in owning (hopefully) an exciting dual-purpose Flat and NH prospect.