Jumeirah Magazine

Tom Urquhart - July 2008 - 01/07/2008

"No other diversion can hook you like high class horseracing. At a stroke you are involved in sport, history, genetics, athletics, odds, sods style and the dream that one day it may all come together and you and your horse may stand together in the winners circle with a pulsing memory that will never fade."

These are the thoughts of jockey, TV presenter, journalist, author and founder of the Racing Post, Brough Scott - a man who more than more would know about the timeless attractions of horseracing that infect millions the world over. And yet the irony is that one of the great allures of the "Sport of Kings" is the element of the unknown, the lottery that is horseracing. The fact that one day things may come together and dreams may come true.

But those slim possibilities have been at the heart of this sport for centuries and the thoughts of what could be have inspired men and women to give their life savings, and in some cases their lives, in pursuit of the unique emotions that come from owning a winning racehorse.

Money, connections, patience and luck are just some of the things that contribute to owning a horse that can challenge on the top courses of the world, in the top races. But the closed door of racehorse ownership, for so long the preserve of the privileged classes or landed gentry, has slowly been prised open in recent years to attract more owners to an increasingly global game. The syndicate-ownership model is one that has been around about as long as the sport itself, with groups of individuals clubbing together to try and offset the financial disappointments that go hand in hand with the sport. But in recent times syndicates have evolved into much more professional businesses that manage your horseracing aspirations and introduce you to the pull of the paddock.

Highclere Thoroughbred Racing is one such establishment, which has been bringing the "dream within reach" to countless individuals for the last 16 years with unparalleled success. Now regarded as Europe's leading racehorse ownership company it offers a highly exclusive service unrivalled within the racing industry with a huge focus put on the experience that is being a racehorse owners.

"I know it has been said before but there really is not an emotion like that felt my owners on race-day, regardless of whether your horse wins or not, just the getting there and competing is truly special," explains Highclere's Chairman, The Hon. Harry Herbert. "We have owners from all over the world but the emotions they share are the same, and we want to make the emotions and the experience as memorable as possible."

Herbert began his career in the thoroughbred industry in the US in 1982 and it was here that he was first introduced to the potential of syndicate ownership. "When I came back from my time in Kentucky, I was immediately aware of the fact that no-one was doing partnerships and syndicates properly in England," he says.

So, in 1992, Harry and his brother-in-law John Warren, started Highclere Thoroughbred Racing Limited, which has swiftly become the European leader in the field of syndication. Their intention was, and still is, simple. To put together small groups of people to share in a number of racehorses, thereby making the sport considerably more fun and cost effective. With Harry and fellow director Alex Smith managing the communication and central organisation, Warren, who is one of the most respected bloodstock experts in the UK, is responsible for the selection of the horses.

The results speak for themselves. In the past ten years, Highclere Thoroughbred Racing have raced six Champions including Lake Coniston, Tamarisk, Delilah and Petrushka. They were responsible for buying and managing the Royal Ascot Racing Club owned 2005 Vodafone Derby winner, Motivator. Since its creation in 1992, Highclere Thoroughbred Racing horses have won or been placed in all the English Classics and in forty four individual Group races overall. Since starting they have spent US$22 million on purchasing yearlings and have received just under US$33 million in proceeds from their sale.

But the figures only tell one side of this fine success story because, as Harry explains, teamwork between all involved is essential. "Integrity is absolutely key to our success. A few bad apples have given syndicates a bad name in the past, so we invest a lot of time and money in building up the trust between us and our owners. I make sure that they are informed about their horse at every opportunity by DVD, photos, emails, phone calls, get togethers, stable tours and we are very particular on this point."

This level of personal service is just one of the things that sets Highclere Thoroughbred Racing apart from the competition. And it's a service that doesn't stop at your in-box. At the course, owners are afforded the best hospitality available in the best boxes. Even getting to the course is sorted out with private cars or even jets to pick you up and take you home. Sharesowners are also able to stay at the prestigious Jockey Club Rooms in the heart of Newmarket prior to mornings on the gallops watching their horses and speaking to their trainers based in Newmarket. It's this level of service and emphasis on the experience of racing that has attracted owner from all fields including several high profile celebrity owners including Jodie Kidd, Sir Alex Ferguson, Lawrence Dellaglio, Jimmy Nesbitt and most recently Mike Tindall and Zara Phillips.

Regardless of an owner's background, Harry is fully aware that while his role is partly dream-maker, it is also practical realist. "Owners are naturally optimistic but of course there is an element of managing expectations at every level. If a two-year-old runs like a diseased goat one day, and wins the next, it is hard to explain but by maintaining those channels of information, we can better deal with the highs and the lows that go hand-in-hand with this game," explains Herbert. Highclere Thoroughbred Racing represents all the things that are good about racing in the UK, a point that Harry and his team are always keen to build into their racing experiences. But that is not to say that their runners are confined to England. The nature of modern horseracing means that you have to compete on the global scale to challenge for the big purses and the team have already had runners across the globe including several in Dubai.

"We want to compete internationally," explains Harry. "Many of our owners are based in other parts of the world so that it makes sense that we will look to run our horses in other countries but we will only do it if the race is right."

As the flat season in the UK comes to a close and the attention of horseracing fans turns to the jumps in UK or the flat season in other parts of the world, such as Dubai, so more dreams will undoubtedly be born from those setting their hearts on one day winning one of the world's biggest races. Thankfully, Harry and his team are around to make that dream a little more realistic.

How The Syndicate Works
Each year a number of new syndicates are created.
Each syndicate consists of twenty shares with the average cost of horses varying from 75,000 to 100,000 Guineas.
Shares in the syndicates are priced from US$26,800 (plus VAT) up to a maximum of US$60,000 (plus VAT).
This year, trainer Jeremy Noseda joined the HTR trainers' roster which already includes Michael Jarvis, Brian Meehan, Sir Michael Stoute, Michael Bell, William Haggas, Mick Channon, Amanda Perrett, Richard Hannon, Ed Dunlop and Mark Johnston.
The life of a syndicate is three years.
The horses are purchased as yearlings (one year old) and they will race as two, three and four year olds for the syndicate unless a decision is made to sell them at an earlier stage.

The Highclere Team
In addition to Highclere Thoroughbred Racing, Harry Herbert helped Ascot to create and launch the Royal Ascot Racing Club (RARC) in 1997. He is also a Member of the Jockey Club, a Director of Newbury Racecourse plc, and Racing Consultant to Cartier which includes hosting the prestigious annual Cartier Awards. Harry's great-grandfather, the 5th Earl of Carnarvon, discovered the tomb of Tutankhamun and his father, the 7th Earl, was Racing Manager to Her Majesty The Queen of England. Harry is the founder of Theatre in Trust, a theatrical company which takes West End theatres and puts on plays for charity. Harry's family home is Highclere Castle. Harry’s brother-in-law is John Warren, apart from being a Director of Highclere Thoroughbred Racing, is bloodstock agent and racing advisor to Her Majesty The Queen of England. He selects the yearlings for the syndicates each year from thousands they have seen at the principal yearling sales in Europe and America. The yearling parades offer a perfect opportunity for potential investors to enter into the experience of ownership from the very beginning when these new yearlings are paraded at Highclere Stud.