Blue Peter Racing - Shared Racehorse Ownership UK

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BLUE PETER RACING 15

PARTNERSHIP AGREEMENT 20016/17



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 for James Eustace who underwrites the syndicate.

1) The name Blue Peter is taken from the 1939 Derby Winner who was trained at Park Lodge Stables. The ethos of Blue Peter Racing is to create fun affordable racing. Blue Peter Racing should not be viewed as an investment. It should be viewed as a hobby with the chance of financial return.
2) Blue Peter Racing 15 own the horse COVERHAM and will consist of 10 equal shares. The cost of each share is 4,200 and this covers the purchase and all costs relating to the horse in the syndicate 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 2017.
3) At the end of October 2017, 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 syndicate to do so. If this situation does occur the syndicate will be notified before the horse is sold. If there is a dispute the horse has to go the first SUITABLE public bloodstock auction.
4) All payments made by the shareholders will be paid into a bank account at Weatherbys under Blue Peter Racing 15 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.
5) 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 2,700 per shareholder.
6) The partnership will be registered at Weatherbys as BLUE PETER RACING 15 and will run under this name.
7) 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 Weatherbys Bank account of BLUE PETER RACING 15.
8) The horse will be insured against mortality for his/her initial purchase price.
9) James Eustace does not charge commission on purchase but will charge 5% commission on any sale.
10) All syndicate members agree that all day-to-day decisions regarding the horse and race plans will be made by James Eustace. Lucy Lawson will manage the syndicate and be responsible for the accounts. She will charge an appropriate management fee for administering the syndicate and for completing the VAT returns. Owners will be kept regularly informed including a monthly report form the trainer issued as a newsletter. A set of unaudited accounts will be produced for the syndicate at the end of the 12 month period.
11) All syndicate members agree to be bound by the rules of racing, in particular in respect to the sharing of inside information and lay betting of horses. Both of which are strictly prohibited.



Blue Peter Racing
Ashfield Green Cottage
Wickhambrook
Newmarket
Suffolk
CB8 8UZ
Telephone 01440 821 469 or 07958 075086
lucylawson1@googlemail.com