The concept of buying lump sum shares in an expensive horse have been highlighted recently by the sensational Flightline, who is part-owned by a syndication company called West Point Throroughbreds – and now there is an opportunity for South Africans to do the same through a company in Cape Town called The Kings Club.
The Kings Club was founded by Jonathan Snaith, Gina Goldsmith and Dayne Allenbrook.
They offer a range of services in racing and breeding: CLICK HERE TO READ ABOUT THE KINGS CLUB
Gina Goldsmith signs for the Vercingetorix colt
The horse was sold at the sales as Zephyr Bay but the Kings Club fittingly renamed him The Grey King.
Now came what they thought would be the hard part.
They offered 1% shares at R7,300, which covers two years of training and keep, veterinarian bills, nominations, declarations, transport and gallop fees.
However, they were once again pleasantly surprised because the shares sold like hot cakes and were gone in no time.
A maximum share is 20% and minimum 1%.
The most encouraging part of the venture so far is that there are a number of first-time owners who are involved, some of whom are new to the sport.
The knock on effect is thus immense.
The prize money the colt earns will be kept in a bank account and the shareholders will be paid out after two years.
The colt is being broken in at trainer Justin Snaith’s Phillippi yard.
Gina said Justin “just loves him” and is excited about his future.
Justin comments: “The grey Vercingetorix colt caught my eye from the moment I saw him. He has a presence and is an imposing tall colt with a beautiful action – he floats. I believe he is a classic type who could be absolutely anything in time – I am really excited to see what he is capable of.”
He also has an amazing temperament for a two-year-old colt.
He was taken to the beach recently and the syndicate owners were surprised by how “well mannered and well behaved” he was.
CLICK HERE TO WATCH A VIDEO ABOUT THE GREY KING
The Kings Club will not limit themselves to expensive horses.
The president of West Point Throughbreds, Terry Finley, had bought himself and clients into a Derby winner before, but he dreamed of having a champion i.e. an Eclipse Award winner. He thus decided on a business tweak and rather than buying a whole horse for, for example US$100,000, he decided to invest in a share of a million dollar horse. With the help of Kentucky Bloodstock agent David Ingoro, who had previously picked the immortal Zenyatta, he identified Flightline. The horse was purchased as a yearling for US$1 million and Finley managed to buy 17,5% of him for West Point Thoroughbreds. That 17,5% was split between seven investors. A 2,5% breeding share in Flightline was sold at auction this week for US$4.6 million, so you can work out how much 17.5% of him is now worth!
