a. Royal Racing Club Syndicate (“the Syndicate”) is constituted as a Racing Syndicate formed
in accordance with the IHRB Rules of Racing, INHS Rules and the Horse Racing Ireland
(HRI) Directives.
b. By joining this Syndicate, all Owners, (hereinafter called the Owners) are fully advised and agree
to abide by the IHRB Rules of Racing, INHS Rules and (HRI) Directives.
c. By joining this Syndicate, all Owners agree to allow the Syndicate Manager to submit their details
to HRI. HRI requires the owners details for client identity verification, subsequent
client management and communications from HRI. At no stage will the Owner’s details be
released to a third party for marketing purposes. Please read full Privacy Notice on www.hri.ie.
d. The Manager shall only process data relating to the Owners in a manner permitted by and
consistent with current Data Protection Legislation and/or as permitted by the Owners.
e. The standard Manager activities include, but are not limited to, keeping Owners informed as
to the activity of the horse, future plans, their progress in training and the races for which they
are entered. The Manager shall assist Owners with any queries or requests relating to the
syndicate experience.
f. For the purposes of the Rules of Racing and in accordance with those Rules, the Syndicate will
race in the name and colours of the Royal Racing Club.
g. The interest of each Owner in the Syndicate shall be that of a beneficial tenant in common in
respect of each of the Syndicate Horse according to the proportionate stake of that Owner in
the Syndicate. Accordingly each Owner shall have a prospective right to participate rateably in
the net proceeds of sale and any winnings from the Horses after the deduction of all costs and
expenses referred to in these Terms & Conditions.
If the Manager considers that insufficient Shares have been sold prior to 1
st January 2021 to
make the Syndicate viable, then the Manager shall have the right to terminate this Agreement,
whereupon monies paid by applicants for a Share or Shares shall be refunded but without interest.
The Manager will keep the Owners informed in relation to the Horses, their progress in training and
races for which they are entered. The Manager shall also arrange for the Share Owners to view the
Horses in training and to attend race meetings subject to Irish racecourses issuing sufficient entry
cards, in the event there are not enough the Manager shall arrange to issue entry cards by lottery to
The commitment of each Owner in respect of the Syndicate is for the Syndicate’s full duration of 11
months and, except with the agreement of the Manager and/or other Owners, no Owner shall be
able to
sell or transfer any share owned by that Owner before the Syndicate’s dissolution or otherwise to
discontinue his or her Ownership of the Syndicate. If any sum payable by an Owner in respect of a
Share is not paid for in full on the due date, and if payment has not been made within thirty (30)
days of
its stated due date, the Owner in question may, at the Manager’s discretion, cease to be entitled to
benefits which would otherwise accrue to it under these Conditions until payment of the
sum has been made. If the outstanding amount is not paid within 60 days of its stated due date, the
Manager shall be entitled to reduce the Owners per centage holding in the Syndicate and retain any
per centage sums as have been paid to it in respect of the relevant Share(s); and any per centage
sums thus
retained by the Manager shall confer upon the party who paid them no rights to a Share or to
any payment pursuant to these Conditions save in respect of their reduced percentage holding. For
example in the event the Owner fails to pay €X during the term hereof his percentage holding shall
be reduced by 1% of the Syndicated horses and any right to a share of any sale proceeds or winnings
shall be reduced pro rata.
Subject to the right of the Owners to call a meeting (and pass resolutions at such a meeting) in
accordance with Condition 8, it shall be for the Manager to decide all matters relating to the
management, training and racing of the Horses; but the Manager shall communicate regularly to the
Owners any decisions made in relation to the Horses. The Manager will seek to sell the Horses by no
later than 31st December 2021 but, if exceptional circumstances (including injury or an extension of
the Syndicate’s duration) make this impracticable, then the Manager will sell the Horses (or the
relevant Horse) as soon thereafter as it deems reasonable and practicable to do so. In the event that
the Manager deems it to be in the interests of the Owners to sell any Horse before the end of the
European Flat racing season then he shall consult with the Owners and will only proceed with such
early sale of the relevant Horse if a 51 per cent majority of the Owners are in favour of so doing.
In the event , in the opinion of the Manager that any of the Syndicated horses have group or classic
potential then the horse will be retained in training for the 2022 season(subject to the approval of
of the Owners) and the provisions of clause 10.1.1 shall apply with regard to payment of
The Manager shall exercise appropriate care in carrying out its role under these Terms & Conditions
but cannot be held responsible for matters beyond his immediate control. The Owners will not be
to make any payments other than those specifically referred to in these Conditions and in the
Application Form for a Share. No Owner shall have any claim against the Manager or against any
Owner in respect of any loss or injury sustained by any of the Horses howsoever caused. Subject to
being able to obtain insurance, the Horses
will be insured by the Manager against All Risks of Mortality only for such values as the Manager, in
its discretion and with any necessary advice, considers prudent. The Manager shall also ensure that
third party insurance is in place so as to provide reasonable protection for the Owners in respect of
such third party claims as may arise from their ownership of the Horses.
The Horses belonging to the Syndicate will be broken in and pre trained by Chris Timmons and then
Sent out to their respective trainers.
8.1 Any one or more Owners whose Shares in the Horses equate to 51 per cent or more of all of
the Shares shall be entitled to require that an Owners’ meeting is held, by sending to the
Manager a written request for such a meeting to be held. Within three (3) days of receiving
any such request, the Manager shall call an Owners’ Meeting by giving not less than thirty
(30) days’ written notice thereof to all Owners particularising in the notice the time, place
and date of the meeting to be held and any matters which those who have requested the
meeting have stated that they would like the meeting to address. At any such meeting, any
motion carried by the holders in aggregate of 51 per cent or more of the Shares shall be
sufficient to pass any resolution relating to the Syndicate and its management, save that no
decision to continue this Agreement beyond its proposed termination may be made other
than with the 75% of all Owners. At any such meeting, Owners may vote in person or by
8.2 The normal method by which the Horse(s) will be sold in anticipation of the Syndicate’s
dissolution will be at public auction but the Manager shall be entitled, if he deems it to be in
the best interests of Owners, to sell the Horse(s) by any other method of sale.
9.1 The Manager shall open and maintain a bank account in the name of the Syndicate to which
shall be credited all sums paid or payable by the Owners in respect of the Syndicate and all
other sums received by the Syndicate and to which shall be debited all amounts charged to the
9.2 The Manager shall, as soon as reasonably practicable after all the Horses have been sold,
prepare a set of wind-up accounts, independently reviewed by the Manager’s nominated
accountants showing:-
9.2.1 The monies paid by the Owners in respect of their Shares;
9.2.2 The prize money won by the Horse(s) (but excluding any trophies of their value);
9.2.3 Any other income (such as appearance money) received in relation to the Horse (s); and
9.2.4 The sale price of the Horse(s) and/or, if and where applicable, insurance receipts
9.2.5. All expenses, as summarised in clauses 9.2.6 to 9.2.7 below and necessarily incurred in
purchasing, transporting, keeping, training , racing, insuring and selling the Horses.
The expenditure which the Manager shall be entitled to deduct from the monies referred to in
paragraphs 9.2.5 inclusive shall include but may not necessarily be limited to:-
9.2.6 The purchase price of the Horses, freight charges, third-party commissions, keep charges,
training fees,vet, farrier, physiotherapy, racing fees, race-day expenses, purchase and sale
expenses, together with the cost of financing the syndicate by way of bank charges, interest
payments and any other like expenses;
9.2.7 All out of pocket expenses reasonably and necessarily incurred by the Manager in establishing,
administering, promoting and winding up the Syndicate including professional fees;
The resulting balance shall be distributed to the Owners rateably according to the number of Shares
held by them.
10.1 In the event that the Owners by a 51% decide, in respect of any Horse(s), that they would like
such Horse(s) to be retained for the 2022 Flat Racing Season, then the following additional
provisions shall apply:-
10.1.1 The instalment fees of €300 per month or pro rata in the event one horse remains in training
shall continue to be paid (to cover costs of training, keep, care, maintenance and insurance )
by each Owner.
10.2 If, with regard to the provisions of Paragraph 10.1, a 51% decision of the Owners for renewal
cannot be achieved, then the Manager, by a process of consultation among the Owners shall
be entitled to devise a mechanism, agreed by at least 51% of all Owners, whereby one or
more of the Horse(s) may be sold by the Syndicate directly to such Owners of the
Syndicate as wish collectively to purchase the Horse(s) and, unless any other method of sale
for such purposes is agreed, the relevant sale shall take place by way of public auction.
Each Share Owner acknowledges that participation in the Syndicate is for the purpose of sharing in
enjoyment of the Horses and not for investment.
12.1 Any intellectual property created by the arrangements to which these Conditions relate
(whether deriving from the Horses, the Syndicate, or the Manager)shall belong to the Manager.
12.2 The Owners, when funding their participation in the Syndicate, are not purchasing goods or
services and are not consumers for the purposes of Consumer Protection legislation.
12.3 The timing of any sale of a “Horse” shall be in the Manager’s discretion but acting in what the
Manager reasonably believes to be in the best interests of the Owners.
13. LAW
The law governing these Conditions shall be Irish law. Each Owner hereby irrevocably submits for all
purposes connected with or arising from these Conditions to the exclusive jurisdiction of the Irish