Terms & Conditions

The syndicate owner agrees to buy a share in a racehorse syndicate under the following terms and conditions. (‘Share’ means division of a syndicate arrangement and should not be regarded as an investment or security)

  1. All syndicated owners are required to sign a declaration that they abide by the rules the Companies Terms & Conditions as set out in this document and further, that they fully understand that Dallas Racing has been set up primarily for enjoyment of the sport of horse racing and as such should not be considered as a financial investment.
  2. All syndicated owners are required to sign that he/she is not a disqualified or excluded person under the Rules of Racing. Any owner becoming so will be automatically and immediately disqualified from ownership of any Dallas Racing syndicated horse. The owner being entitled to his share of the valuation of the horse at the time of disqualification which will be determined by the trainer. The disqualified owners training fees will be payable for whole month at the point of exclusion.
  3. The syndicate holder will receive his/her ?% share of any prize money won by the horse. Prize money will be defined as the amount credited to the syndicate’s account as prize money by Weatherbys (or any other such body that may be used by the Jockey Club for the administration of racing and distribution of prize money) less any deductions made by them. The syndicate owner’s share of prize money shall be repayable to the syndicate owner each quarter. Prize money rights shall not commence until all monies and documentation relating to the purchase of a share in the horse has been received by Dallas Racing.
  4. The syndicate owner will receive his/her 10% share of any resale value of the horse less any share of the costs associated with the sale after their 6 months has been completed.
  5. The syndicate owner will pay 10% per month of the whole invoice payable by Standing order with regard to his/her share of the costs associated with the keep and training of the horse. Costs include the following fees: Training Veterinary Blacksmith Gallops Transport (but specifically excluding any overseas transport). They will also include costs that are levied by Weatherbys on behalf of the Jockey Club with regard to the racing of the horse, which will include entry fees, jockey fees and administration fees (% of stakes) the costs attributable to the syndicate owner are deemed to commence in the calendar month in which they joined.
  6. The syndicate owner will be entitled to one complimentary owners badge at the racecourse on the day his/her horse runs.
  7. Interest in the syndicate contract is personal to the syndicate owner and may not be assigned to a third party without the express permission of Dallas Racing. All entries in the racing press will show the owner of the horse to be the syndicate name designated by Dallas Racing and the horse will run in the colours selected by Dallas Racing.
  8. The formation, administration and management of the syndicate and the racing career of the horse will be managed by Dallas Racing , whose charges associated with this are also included in the figure detailed within clause 5 above. The choice of trainer/s will be Robyn Brisland & Shaun Harris, but maybe varied if deemed appropriate.
  9. The syndicate owner consents to the entry of the horse in selling and claiming races if deemed prudent by the trainer. Should the horse, or any other Dallas Racing syndicated horse run in such races, then all syndicated owners are expressly forbidden to submit a claim or be a party to a claim, other than a friendly/counter claim made on behalf of the connections, without the express written consent of Dallas Racing. If the horse is bought-in or retained by the syndicate following a selling or claiming race this shall not be regarded as terminating this agreement and any costs associated with this are specifically not included in clause 5 above.
  10. The syndicate owner(s) hereby nominate Dallas racing and its chosen representatives as the ‘nominated owners’ as regards any Weatherbys registration that may be made and also as nominees for other registrations when required.
  11. The syndicate owner hereby agrees to sign any such documentation that he/she may be required to sign by Dallas Racing  with respect to the registration of the horse and his ownership.
  12. The syndicate owner hereby agrees not to terminate this contract for 6 months from the date of this contract without the express permission of Dallas Racing.
  13. If, after the first anniversary a majority of the syndicate owners wish to sell the horse, they must collectively confirm this in writing to Dallas Racing. At which point the horse will be entered for sale into a suitable bloodstock auction and the proceeds, after attributable costs, will be distributed amongst the syndicate owners according to their holding.
  14. It is Dallas Racing policy that any syndicated horse/s they have, in the view of the trainer or an independent bloodstock valuer, a purchase value in excess of £30,000 will be insured against death. The costs of which are expressly excluded from the costs outlined in clause 5. The syndicate owner agrees to pay his share of the insurance costs in full within one month of the costs being identified. The syndicate owner nominates Dallas Racing as his nominee for insurance registration. Insured values may be varied from time to time to reflect the valuation of the horse. In the unfortunate event of any claim, syndicate members will be reimbursed according to their share, less any attributable costs incurred. Dallas Racing will not be liable for any errors, omissions, or amounts recovered, however incurred, in the event of a claim with regard to insurance.
  15. Should any syndicate owner default on payment terms, the syndicate owner will forfeit any prize winning during the period. If the syndicate owner defaults payment for 2 consecutive Months Dallas Racing will be entitled to give written 14 day’s notice to repossess the syndicate owner’s share of the horse in full.
  16. A fee will be chargeable on all overdue payments at 1% per day. Interest will be payable at a rate 3% per month on any accounts.
  17. The weekly fee payable will not increase. Dallas Racing guarantees that fees will stay the same, for the 6 month period that you sign up for.
  18. Dallas Racing has the right to terminate the ownership of any syndicate owner, whose behaviour in the opinion of Dallas Racing becomes unacceptable or unreasonable to the interests of the syndicate as a whole. In such circumstances one written warning will be issued prior to any action being taken. Should such action be necessary then the owners rights will cease at the date of termination and he will be entitled to the same share of the valuation at that date as in Clause 16 less any outstanding monies incurred as per clauses 16 to 18 inclusive.
  19. Sign………………….. Date……….