HORSE Racing Ireland should provide a direct link between potential racehorse owners and breeders wishing to lease out horses in training, according to the manager of Ireland’s most successful racing club.

Jim Balfry of the Supreme Racing Club believes that the biggest problem facing new owners is the long delay between purchasing a horse and seeing it race. “It can take up to two years. As many as seven out of 10 don’t make it to the races and owners can be soured.”

Founded six years ago, the Supreme Racing Club has over 600 members and has had almost 100 winners, including a Royal Ascot success and a Grade 1 victory over hurdles. Many of their early successes came through leasing arrangements with breeders.

Balfry said: “I still get calls from both breeders and new clubs and syndicates. They are looking for each other and it puts me in an awkward position sometimes. HRI should put something in place, a facilitator, to fill that gap.

LEASE

The Irish Thoroughbred Breeders Association does offer its members the facility to advertise horses available for lease. They must be broken and ‘ready to go’. Although the initiative has had some success, an ITBA spokesperson said the scheme was quiet at the moment.

Figures released by HRI this week suggest that group ownership is on the rise. The number of syndicates registered in the past six months rose to 443 from 387 in the same period last year. Racing Clubs are up by nine to 39.

HRI’s owner relations manager Aidan McGarry said: “We’re launching a new website in mid-August which will have a space dedicated to commercial syndicates and clubs, so people who are looking to buy a share in a horse know where to look.” The site will also explain the differences between clubs and syndicates.

McGarry added that more trainers are adopting the racing club model as it allows them to allocate a number of unsold horses to a group of owners rather than just one. Racing clubs also involve one annual payment by members, rather than a monthly standing order.

Amber Byrne, HRI’s owner recruitment manager, said: “This week’s numbers are positive but there is a lot to be done. Owning a racehorse involves spending your disposable income and it has to represent value for money. The racecourses are doing a lot of work to improve the experience for owners.” She is working with the Association of Irish Racecourses on altering the ticket allocation system for owners.

SYNDICATES

Caroline Townend, who also works in HRI’s ownership department, reports that queries from the public regarding syndicate ownership are on the rise. “We get at least one new call a day at the moment and we are making the registration process easier.”

Reflecting on the half-yearly industry statistics, HRI chief executive Brian Kavanagh said: “The growth in entries, runners and active owners is welcome. We have invested significantly in broadening the ownership base in Ireland, providing marketing support for our trainers, as well as introducing further measures to reduce ownership costs.

“Healthy increases in runners and field sizes are very positive, and the recovery in the National Hunt sphere hinted at the end of 2016 has taken hold. The buoyancy of the recent store sales and the active role played by Irish owners and trainers at those sales is testament to this, and bodes well for further growth in the future.”