How did you get into racehorse ownership?

I have always had an interest in racing but became involved in ownership through the influence of my brother Marty who sadly died in 2002. Marty and fellow Bodykeman Dominic Stuart had horses with Aidan O’Brien in Aidan’s early days as a trainer and subsequently with Joe Quinn and they enjoyed some great days at the races.

My cousins and I have owned a lot of horses down through the years but our successes have been very limited. We had our first winner in Limerick in November 2010 and had to wait until this year for a follow-up!

That first winner was a homebred mare called Missgiloney but our dreams of further wins and a breeding career for her were shattered in 2013 on the day that her horsebox had to go home empty from Thurles. We persevered however and our latest runner Macgiloney gives us cause to dream again!

What was your best day at the races and why?

The best day was probably the day that Missgiloney, trained in Ballygar by David Kelly and ridden by Keith Clarke won a maiden hurdle for my cousins and myself in Limerick. She was out of Teeroneer, a mare that I had inherited from my late brother, and was by Kaieteur, then standing locally in my own parish for Mick Feeney and Fiona Lynch.

That was our first win and we jumped for joy in the stands in Patrickswell! I can’t even remember what the prize money was or what the betting odds were but I can certainly recall the excitement during and after that race. I can also recall the joy that my mother Mary got from getting a return on her €5 each-way bet that day.

Incidentally, now a centenarian, Mary still gives me a tenner for the same bet any day that we have a horse running. Happily she doesn’t seem to remember the many losing days!

What is the biggest drawback about being a racehorse owner?

I suppose it has to be the expense involved. If the horse is not winning any prize money at all, then training fees, veterinary costs, travel costs, jockeys fees and entry fees will quickly mount up. I have been through many unproductive racedays but the involvement of cousins Pat and John has eased the financial pain.

There is also the frustration of being balloted out when a horse is ready to run because entry numbers are high but I suppose this is something everybody involved in racing has to live with.

In your experience which racecourse in Ireland treats owners best?

I have enjoyed the hospitality afforded to owners in the Curragh and in Listowel and I hear great things about what they are doing in Ballinrobe. I know that my cousins were well treated when Macgiloney won in Bellewstown but in general I would say that any course that employs friendly staff and has some complimentary food and a cuppa for all owners in a comfortable setting is good enough for me.

Flat or jumps racing, which do you prefer and why?

We have had horses in both flat and jumps races down through the years but my own preference is for National Hunt. I find there is greater excitement with the jumps races and there also seems to be a better chance there for the small owner.

What qualities do you look for in a trainer?

Above all I admire openness and an ability on the part of the trainer to promptly share information on my investment. I want to hear the bad as well as the good and I have to say that Denis Hogan, who has trained for us for a number of years, has not been afraid to tell us the bad news when necessary. There is little point in persisting with a poor horse that is costing the same money to train as a good one and the owner must be told the whole story as early as possible.

I greatly admire the work ethic of Denis Hogan and all of his team at Boherna Stables and it is wonderful to see their good work reaping rewards.

What improvements would you like to see racecourses in Ireland do for owners?

Maybe all racecourses cannot afford to do something great like what the AIRO do for owners in Galway and Punchestown but a well maintained and comfortable area along those lines where owners can sit, have refreshments and chat or peruse their cards would be great.

How do you feel owners are treated when not having a winner?

Not great but I don’t begrudge the winners the deserved attention that they get. We would usually slink away after coming in down the field and hope for better the next day! I think that as long as racecourse staff are friendly and realise that without owners they mightn’t have jobs then I am happy enough.

What significance do your colours have?

They are the GAA colours of my home parish, Bodyke, which was also the native parish of my cousins’ late mother Mamie Gilmartin. Before they were registered to me they were the racing colours of my brother Marty and his good friend Dominic Stuart.

When buying a horse, what do you look for?

I depend on the experts! Our recent purchases have been selected from young horses bought by Denis Hogan himself. Denis lays his cards on the table and leaves the final selection to us. Sometimes you win and sometimes you lose!

What horses do you currently have in training?

We recently sold a flat-bred horse so we now only have the Milan gelding, Macgiloney, that is in training with Denis Hogan.

What’s next on the agenda for your horse?

Macgiloney has won two bumpers for us and now another maiden hurdle has to be on the cards for him. It would be grand if there was a suitable race for him in Galway but our final decision will be hugely influenced by what the trainer thinks.

Have you any horses to look forward to?

We have but it’s a little bit down the line. We have a yearling that is due to be broken later this year. She is out of our own Dylan Thomas broodmare Darling Lexi and is by Melbourne Cup winner Green Moon. Darling Lexi also has a nice filly foal by Elusive Pimpernel so we are living in hope.

What would make Irish racing more competitive for the smaller owner/trainer?

The recently announced Auction Hurdle Series has been welcomed by several trainers as a way to attract owners and keep them involved involved and maybe more developments along these lines could be considered.

What advice would you give to someone thinking of becoming a racehorse owner?

I would strongly advise anyone interested to consider joining a syndicate or a racing club first. Most trainers are syndicate friendly and indeed might have syndicates looking for additional members. Sharing of costs makes ownership viable and doesn’t take from the enjoyment of having a runner. Talk to a few owners and trainers first and think about the possibilities for a while.

I can vouch for the fact that being involved in ownership of a horse will hugely increase their enjoyment of racing.

Michael Moloney was in conversation with Olivia Hamilton