Kingshill 230 Report post Posted February 2, 2019 Hello All - Just putting a syndicate together for a Yearling - Lease with a Right of Purchase - After some thoughts from Cafers with some possible things to include in the lease conditions - Things like voting majority for any major decisions (Was thinking 55 or 60%), clauses around non payment (how long do you give someone to catch up payments before kicking them out?) etc. Maybe something I haven't thought of? Thanks in Advance Quote Share this post Link to post Share on other sites More sharing options...
Black Kirrama 1,477 Report post Posted February 3, 2019 Some good advice from me is : go to the Syndicator's I love racing site. :https://loveracing.nz/Ownership/Syndicators/Become-an-Authorised-Syndicator.aspx : read through the terms and conditions from Go Racing/ Te Akau/ S Marsh/ Graham Richardson/Shaune Ritchie etc. :most syndicates name a "Manager" for their owners. What percentage of any earnings do they receive,and are there monthly Manager's fees ? :If the horse is sold after purchase by the syndicate, what % does the Trainer get? Most times this is 10%. But Is it 10% of the valued added price or 10% of the original purchase cost? This needs to be clearly sorted on day one of the syndication. Example:Karaka Book 2 2017 : A Yearling Colt bought for $60 K. >> wins a Trial/Race as a 2 year old >His Racing style appeals to an Arab or An Asian . >>>sold for $300k The value added ( $240K by the Trainer is what the syndicate may think they should pay their 10% on.Some sydicates may agree on a 15% Others 5%. : Real Estate Agents negotiate a % sale fee.On a sale price structure. Usually starting at $250 K. :Race horse Syndications are like Pre nuptial Marriage agreements : my suggestion is to read the biggest contractual settlement from That wanker Google founder : Sergey Brin and Anne Wojcicki Good luck: Please PM me the horses breeding ! Rev : Baz (NZ) and Ethereal 2 Quote Share this post Link to post Share on other sites More sharing options...