The Costs Involved in Training a Racehorse
Owning a racehorse is an exciting journey, but it comes with various costs that ensure the horse is well cared for, trained, and ready to compete on raceday. Pimlico Racing operates a syndicate model, allowing members to share these costs while enjoying the thrill of ownership. Here’s a breakdown of where members’ monthly fees go.
Purchase Fee
The first expense is the initial purchase of the racehorse. When acquiring a horse through auctions such as Tattersalls or Goffs, several costs are involved:
• Hammer Price – The base price at which the horse is bought.
• Bloodstock Agent Fee (5%) – The bloodstock agent assesses potential purchases, and charges a 5% fee on the hammer price.
• Sales House Fee (6%) – Auction houses like Tattersalls and Goffs charge a commission of around 6% on the final purchase price.
• VAT & Transport Fees – Depending on where the horse is purchased, VAT may apply, and additional transport costs are required to move the horse from the sales venue to its new yard.
Vet Fees
Veterinary care is essential for racehorses, both for routine health checks and any unexpected issues. Common veterinary costs include:
• Pre-Purchase Vetting – Before a horse is bought, it undergoes a full veterinary examination, often including X-rays and scope tests, to ensure it is sound and fit for racing.
• Routine Care – This includes vaccinations, worming, dental work, and regular health monitoring.
• Injury & Rehabilitation – Racehorses are athletes and can suffer injuries, requiring scans, treatments, and even surgery if necessary.
Transport
Racehorses frequently travel for races and training. Transport costs cover:
• Delivery to Trainer – After purchase, the horse needs to be transported to its training yard.
• Racing Transport – Whether competing in Ireland, the UK, or further afield, professional transport services ensure safe and comfortable travel for the horse.
Training Fees
One of the largest ongoing costs is training. Pimlico Racing works with top trainers, and their fees cover:
• Daily Care – This includes feeding, stabling, mucking out, and general management of the horse.
• Exercise & Gallops Fees – Regular exercise, gallops, and conditioning work are essential for peak performance.
• Jockey Fees – Professional jockeys are paid per race, and they also receive a percentage of prize-money won.
• Shoeing & Farrier Costs – A racehorse’s hooves require regular care, including new shoes every few weeks.
Syndicate Registration with Horse Racing Ireland or Weatherbys
To compete officially, every syndicate must be registered with Horse Racing Ireland (HRI) or Weatherbys in the UK. This registration ensures that race entries, prize money distribution, and ownership details are correctly recorded. The fees for registration and renewals are included in syndicate costs.
Management Fee
Pimlico Racing handles all administrative aspects of ownership, including:
• Communication with trainers and jockeys
• Organising syndicate events and race days
• Providing updates on the horse’s progress
• Handling all financial aspects, including prize money distribution
This management service ensures a seamless ownership experience, allowing members to focus on enjoying the thrill of racing. The fixed management fee is calculated on a bi-annual basis.
The Racing Manager App
All syndicate members have access to The Racing Manager App, an interactive platform providing:
• Live updates and race entries
• Training videos and progress reports
• Direct communication with trainers and syndicate managers
This digital tool enhances engagement and keeps members informed about their horse’s journey.
Retraining Fund
Not every racehorse has a long career, and when a horse retires from racing, Pimlico Racing contributes to its future well-being. The Retraining Fund supports:
• Rehoming and retraining for a second career – Many ex-racehorses transition to showjumping, eventing, or leisure riding.
• Aftercare facilities – Ensuring horses receive proper care and a comfortable retirement.
Irish Injured Jockeys Fund
Racing carries risks, and jockeys put themselves on the line every time they ride. Pimlico Racing supports the Irish Injured Jockeys Fund (IIJF), which provides financial and medical assistance to jockeys who suffer injuries. A portion of syndicate fees helps contribute to this vital cause.
Conclusion
Being part of a Pimlico Racing syndicate means sharing in the highs of racehorse ownership while also contributing to the horse’s training, welfare, and future. From purchasing and training to veterinary care and jockey support, each cost ensures the horse is given the best opportunity to succeed on the track while also securing its future beyond racing.
