How did you get into racehorse ownership?

My father put me to sleep most nights with stories about racehorses. I remember one in particular about a horse of his, Sweet Sauce, so I was hooked from a very early age.

As a young vet in 1966, during another recession, I worked for a merchant banker who went bust and I acquired my first horse, The Hostage, in lieu of fees. My first runner in autumn 1966 was third in Naas and it has taken me another 49 years to have a winner there when The Eyes Have It won there two weeks ago.

What was your best day at the races?

I had a double in the UK on May 26th, 1979. We hired a private plane and my Dad, Mum, and a few friends flew with Arthur Wignall, a retired Aer Lingus pilot who died soon after doing a loop over Clew Bay.

We needed soft ground and it poured all day. Despite a terrible draw, our filly bolted up under 7lb claimer Walter Swinburn. With jockey and trainer Charlie Nelson on board we set off for the evening meeting at Hamilton. We wanted good ground there and the sun was shining. Majestic Nurse opened at 8/1 and by the time we had finished the Scottish bookies would not chalk her up.

It was an unbelievable day which ended with a major party where my father sang The West Awake. Sadly two weeks later he died in Spain and it taught me the frailties of life and never knowing what was round the corner. My father was a major player in my life.

A year later Majestic Nurse became the first - and still the only - British-trained winner of the McDonogh Handicap (now Topaz Mile). She later went on to win the Irish Cambridgeshire ridden by Steve Cauthen and trained by Michael Cunningham.

Another great day came in 2006 when our son Tom, then at college, rode my horse Clear Round to win a novice chase at Downpatrick with many of the top jockeys behind.

What is the biggest drawback to being a racehorse owner?

Cost, so many ancillary costs. I believe the charges are in many cases unbelievable. Two that I find irksome are the Curragh Gallop fees - you are charged three months per horse at a time, even though your horse for a multitude of reasons may only be on the gallops for a fraction of this time due to injury - and the only answer you get is that ‘you’re lucky - it used to be six months’. This should be reduced immediately to one month.

Handicapping is another area of concern. I have only ever spoken to the Irish handicapper once - he was very open and willing to listen but made up his own mind. However, I believe that our horses are badly handicapped in relation to British horses. They constantly come over and beat us easily.

The ongoing battle between the Turf Club and HRI is not doing the image of Irish racing any good.

The Turf Club are entitled to be fully funded. They should not have to beg for money. HRI is the business wing and should be concentrating on making racing more profitable and enjoyable for all. We need both very badly.

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

Very few racecourses make more than a token offer and many nothing at all, even on big days where entries are very expensive.

For the past two years I had a runner in a big seven-furlong handicap at Leopardstown and all we were offered was a curry to be eaten standing up in a room jam-packed with other owners. This year I paid for a party to go to the pavilion and did not partake of the same scramble. Let’s hope with the new Curragh this will be taken on board.

I had two runners at the Chester May meeting this year and, wow, we were treated well. It had nothing to do with us being visitors - all the owners got the same treatment.

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

No doubt it’s the flat for me, but National Hunt for my wife Anna, daughter of Toss and Ann Taaffe. But I think she is coming around to my way of thinking after all these years. The weather is kinder.

What qualities do you look for in a trainer?

Honesty, hard working, knows his horses. A trainer who can enjoy the outing with you, who will listen to the owner and won’t enter horses in Group races when the animal has not even won a maiden. Sadly no such person exists but both Andy Oliver and Willie McCreery go a long way to fulfilling these credentials.

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

A total change of attitude that encourages potential clients (owners) to spend money on racing rather than another form of entertainment.

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

Simple answer is ‘they are not’. The day has been very expensive on days when horses run badly, get injured, or are useless, and owners are just simply ignored.

What significance do your colours hold?

The family colours were my Dad’s, the Mayo colours, and how lucky they have been for me.

When buying a horse what do you look for?

A two-year-old but they have this awful habit of changing shape and size all the time, just like kids. I look for a compact, strong, really good and free athletic walker. Preferably a filly.

Have you any horses to look forward to?

Colour Blue won two races this year, including one on Irish Derby day, and will be back in training next year. Rivers Of Babylon also won two and will be back, while Alcock And Brown won once but has been sold. Our Naas winner The Eyes Have It only has one eye and is a fun horse who will be kept.

Zippity Do Da (by Makfi) had a curtailed season but is one to watch next year. Othes to look forward to are Number One Girl (by Paco Boy), Up Up And Away (by Lawman), Favourite Girl and Brown Girl In The Ring. We also have yearlings being broken and we hope to buy a few more. Duke Ellington has been sold and sadly Alex Girl suffered a fatal injury on the gallops.

I have been very lucky over the years but have yet to have a Group winner. Hope springs eternal.

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

Be realistic. Very few horses win. Even the most expensive are often useless. Cut your losses as soon as possible and try again. A useless horse costs as much, in fact more, than one that will win races.

Enjoy the good days. They are very special and help compensate for the many bad days. Don’t go into racing expecting to make money. Remember the old cliché ‘The best way to make a small fortune with racehorses is to start with a big fortune’.

Garrett Freyne was in conversation with Olivia Hamilton

AIRO has secured free admission to over 90 racedays in 2015 for registered owners with a horse in training.