Horse Racing - FAR is one of the newest ventures in newmarket races. It offers Horse Ownership to their syndicates by offering syndicate horses for sale. The Details Fred Archer Racing will be getting into a partnership "Fred Archer Racing - Ormonde" with an intention to buy yearnings at Autumn Sales or 2 year olds from The Breeze Up sales. The key points of this partnership will be as: • The partnership arrangement will be offered for 2 years, unless both the parties/partners wish to continue further. • At the end of the partnership contract, the horse will be sold at the public auction • 6 or more shareholders are mandatory to enter the contract, in the event if one of the shareholders wishes to leave before 31st October he/she will have the responsibility to find a replacement shareholder • The shareholders will have to commit to the full term • Each shareholder owns 10% of the horse • Jacko Fanshawe of Pegasus Stables will be managing Fred Archer Racing • The cost of the horse will depend on the purchase price adding VAT as well. Furthermore; 5% commission to the bloodstock agent, if used, and related veterinary costs and the first year's insurance premium are to be added along with. • Monthly costs of £300+VAT will be paid by direct debit which will cover all the expenses such as training costs, farrier, routine veterinary expenses, gallop fees, entries, transport and associated racing costs. • When the situation calls wherein the horse deserves an expensive entry; this will be added as an extra cost and the same will be discussed with the partner beforehand. • In the case of emergency treatment or surgery the decision of whether to go ahead or not will be at the decision of James Fanshawe. • The profit and loss statements and other relevant balances will be send every 3 months either my post or mail. The surplus money if any will be shared out equally at the ending of the agreement • The horses insurances will be taken care by Lycetts. An independent agent will be appointed to value the horse on periodically basis for insurance purpose • You are allowed to visit your horse during stable hours at mutually decided time. • The management will be helping in arranging stable visits for partners which could be during breakfast hours at Pegasus Stables to watch their horse. • When the horse is sold, Pegasus Stables will be receiving 5% of the sale price