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All the horses owned by Blue Peter racing are trained by James Eustace at Park Lodge Stables in Newmarket, the syndicates are managed by Lucy Lawson. The name Blue Peter is taken from the 1939 Derby Winner who was trained from that yard (not from the BBC programme!).
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| 1) |
Blue Peter Racing 8 will consist of 10 equal shares. The cost of each share
is £3,400 and this covers the purchase and all costs relating to
the horse in the partnership for 12 months. Under no circumstances will
there be a call up for more money within this 12 month period, which ends
on 31st October 2008. |
| 2) |
At the end of October 2008, the horse will be sold unless it is a UNANIMOUS
decision by the shareholders to continue racing the horse. If only one shareholder does not wish to continue then his share will be offered to the other shareholders.The horse may be sold at an earlier date if the trainer feels it is in the best interest
of the partnership to do so. If this situation does occur the shareholders
will be notified before the horse is sold. |
| 3) |
All payments made by the shareholders will be paid into a bank account
at Weatherbys under Blue Peter Racing 8 where any income such as prizemoney,
sponsorship etc will also be placed. At the end of the 12 month period
the remaining balance in the account will be distributed to the shareholders. |
| 4) |
If it is decided unanimously to keep the horse for the following season,
the balance in the account will remain and a call will be made to cover
all costs relating to the horse for the following season. It is impossible
to speculate what this figure may be but as a guide, it should not be more
than £2,000 per shareholder. |
| 5) |
The partnership will be registered at Weatherbys as BLUE PETER RACING
8 and will run under this name.
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| 6) |
The partnership will be registered for VAT. Lucy Lawson will be responsible
for the VAT returns and all VAT on the purchase and training fees will
be reclaimed and credited to the Weathebrys Bank account of BLUE PETER
RACING 8.
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| 7) |
The horse will be insured against mortality for his/her initial purchase
price. |
| 8) |
James Eustace does not charge commission on purchase but will charge
5% commission on any sale. |
| 9) |
All day-to-day decisions regarding the horse and race plans will be made
by James Eustace. Lucy Lawson will manage the partnership and be responsible
for the accounts and will charge an appropriate management fee for administering
the partnership. A set of unaudited accounts will be produced for the partnership
at the end of the 12 month period. |
