What’s a horse racing syndicate?
As in other walks of life, in horse racing, a ‘syndicate’ refers to a group of people engaged in a shared enterprise, in this case the ownership of one or more racehorses. Obviously, the initial purchase price of a racehorse varies according to its age, pedigree, soundness and so on, but between £10,000 and £20,000 is not uncommon. Coupled with annual training costs, typically between £16,000 and £23,000, it is easy to see how the cost of buying a racehorse and keeping it in training is beyond the means of many individuals.
Consequently, groups of like-minded people, who may be strangers to each other, are brought together by a syndicate manager to share purchase cost(s) and the day-to-day cost of ownership among them. A typical syndicate consists of twenty or so members, each of whom buys a fixed share, say 5%, in one or more horses and makes an annual contribution towards training and other costs. Any prize money is, likewise, shared among syndicate members, but most people join a syndicate for the love of the sport, rather than an opportunity to make money.
The late John Leeper Dunlop, who died at the age of 78 on July 7, 2018, after a long illness, was indeed champion trainer, just once, in 1995. That was the season in which Bahri, owned by the late Sheikh Hamdan Al Maktoum and ridden by Willie Carson, took an unconventional route, isolated on the far side, until the home turn to win the Queen Elizabeth II Stakes at Ascot. However, Bahri was just one of 74 Group One winners, including 10 British Classic winners, that Dunlop saddled in a training career spanning six decades.