How did you get into racehorse ownership?

Two years ago we bought Water Sprite cheaply for seven grand through Ollie Murphy, who was then assistant trainer to Gordon Elliott. There are five owners in the syndicate. I’m a retired accountant and I ride out at the Elliott yard two or three times a week. We never expected our mare to be so good or win so quickly.

Syndicate members are Noel Maguire from Trim, James McMahon from Cork, Vincent Gregory from Athlone, Eamonn Collins, a football agent from Dublin, and me from Navan. Apart from myself and Noel, we didn’t know each other before Ollie Murphy put together the syndicate. As I’m in the yard two or three times a week I can pass on news and queries.

What was your best day at the races and why?

We’ve had two special days with our mare Water Sprite. The first was at Cheltenham on St Patrick’s Day last year and the second was at the Galway Festival last year when she won a handicap. I have been going to Galway for 40 years so to have a winner there was wonderful.

It was the same for the Cheltenham race when she ran in the mares’ novices’ hurdle. It was such a privilege to have a runner at Cheltenham, it was hard to believe we were there as owners.

Willie Mullins had the favourite, Limini, and we all stayed in the parade ring to watch. The screens are so good and it’s a battle trying to get through the crowds.

Water Sprite was held up out the back but then ran on very fast. For two seconds rounding into the straight we thought she had a fantastic chance. I have to say those were the best two seconds of my life! As it was she ran into sixth place and we still received prize money.

The best thing about the whole day was the performance she put in. It’s not all about winning but to have a mare that can perform like that at Cheltenham and win at the Galway Festival, you couldn’t ask for more. For her it’s a personal best, just like an Olympic athlete who doesn’t necessarily win but achieves their best.

Water Sprite is so enthusiastic and big in heart, much better than a big, old, soft gelding!

What is the biggest drawback about being a racehorse owner?

The threat of injury, the thought of losing them. I was at Naas last weekend and a horse broke its shoulder on the flat, just awful for everyone.

Injury is the biggest drawback but horses are bred to run.

In your experience, which racecourse in Ireland treats owners the best and why?

Leopardstown, it’s the best course, second to none. They have greatly improved the owners’ facilities and you are given a silver service meal as an owner. At Naas you get offered tea and refreshments. The absolute minimum each track should offer owners is some kind of meal voucher.

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

Jump racing – it’s much more fun and it lasts longer as a spectacle. If you are following a horse you can see its progress and when it’s going to win.

In the National Hunt sphere, the ordinary guy can compete. An unfashionably-bred horse can be a champion which is unlikely on the flat.

What qualities do you look for in a trainer?

Ability and results and the placing of horses. Training racehorses is a team effort and everyone involved has to give feedback.

I’ve stood there after a race and listened hard to the jockey’s race report. I knew Martin Pipe and he told me to listen intently to what the jockey says because “you’ll only hear this once whereas I can hear it again”. Pipe always made his jockeys write out a race report or record it on tape as it was then – all the details, ground, pace, how the horse travelled, all those vital details.

This information gathering is even more necessary with non-performance in the race. You don’t just rely on information given on the spot. There are scope results and how the horse ate up afterwards to consider.

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

A meal voucher is an absolute basic requirement. Down Royal gives owners nothing whereas Downpatrick goes to great efforts. It’s the lack of effort that is so disappointing.

What significance do your colours hold?

We inherited the colours from Ollie Murphy. He always said they are the Aston Villa colours (claret and blue) but when they’re not winning, they are West Ham’s colours!

How did your syndicate get its name?

Well, we are five men in a syndicate. I didn’t choose it but it’s that straightforward.

What horses do you currently have in training?

Just Water Sprite.

What’s next on the agenda for your horse?

She’s on a break at the moment. She’s run 11 times this season. She’s small but an honest to goodness mare. Just recently at Gowran Park she won the second leg of the Corinthian Challenge with Killian McCarthy on board. He had been riding in charity races for 15 years and it was great he won on her. I have had some fun riding in the Newmarket Town Plate and have won it twice, first aged 53 in 2007. I have ridden in one charity race at Cheltenham and raised about €5,700 for charity.

Have you any horses to look forward to? (i.e. young/unbroken horses)

Hopefully when Water Sprite retires we could breed from her and produce Baby Sprite!

I’m looking forward to that and hope she retires safely. She can race over hurdles and fences and also on the flat. She has given us some great days – you can’t buy that feeling of having a Galway winner or a Cheltenham runner.

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

To have more races for non-placed horses to add to the programme. Dundalk has examples of that on the flat.

I’m not in favour of excluding big owners running multiple entries in a race. Someone has bred that horse, the owner has paid all the entry fees. I think big owners are good for Irish racing and help keep up the prize money levels. The prize money is so good at base level in Ireland that, if you had a series of races for non-placed horses, a win can bring them on and give everyone confidence. Conditional races are there to help the jockeys, so do the same for horses and add another dimension to the programme.

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

Two things.

Enjoy the whole experience, go along to the stable visits, it’s good fun to see your horses on the gallops. It’s not all about the raceday. You can enhance the whole experience of racehorse ownership and give support to the stable staff who take such good care of your horse.

Derek Jackson was in conversation with Olivia Hamilton