A sample of our Racehorse partnership agreement

The  " Unnamed Colt by Galileo" Partnership

An agreement made this . . . . . . . . . . . . . . day of . . . . . . . . . . . . . . . . . . . . .  . . . 2011

1.         The PARTNERSHIP will comprise of ten partnership OWNERS. Each partner will own an equal share in the above horse.

2.         The PARTNERSHIP will last for an initial period that will end 31^st OCTOBER 2012 unless ALL partners agree to continue for a further year.

3.         Each original Owner will pay £XXX for their 10% share of the above horse. From April 1^st 2010 monthly training fees of £250 are paid by standing order to cover the cost of training, insurance against mortality, blacksmith fees, race entries (excluding group races where he does not already hold an entry as of 1^st April 2011), transport to UK racecourses, vet fees, jockey fees, administration costs and racing colours.

4.         In the event of an Owner not paying his/her monthly payment within TEN WEEKS his/her share will be forfeited and that share sold to a new Owner. Weatherbys will be informed.

5.         Each Owner will receive in full one tenth of any prize money won.

6.         At the end of the agreement, if all Owners do not agree to continue for a further year the horse will be sold at public auction (reference clause 2). Heart of the South Racing will make all arrangements on behalf on the owners and will charge a 5% commission for this service. Each partner will receive one tenth of the proceeds when the horse is sold.

7.         In the unlikely event of the Owners not agreeing as to where the horse should run, who should ride or train the horse, etc. the MAJORITY will decide.

8.         Weatherbys Bank, Wellingborough will be our bankers, the nominated partners will be the sole signatories.

            I . . . . . . . . . . . . . . . . . . . . . .. . . .. . . . agree with the above rules. . . . . . . . .. . .. . …. . . . . . . . . . .

            Address . . . . . . . . . . . . . . . . . . . . .  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ……

            Tel. No. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Mobile No. . . . . . . . . . . . . . . . . . . . . . . . . . . .

            Signed………………………………………

All partnerships are run to BHA & Jockey Club Guidelines