Southland trainer Kirk Larsen and his wife Michelle along with Tara Blyth are taking on a new venture; forming a syndicate that is fun and most of all affordable.
The idea behind The Own The Moment Syndicate was triggered by a recent visit to the province by Canadian trainer Anthony MacDonald who has an art of getting people involved in large affordable and successful racing syndicates.
“After listening to him he gave me a few ideas. Horse numbers are light everywhere so it’ll be good to get some new blood into the game,” said Kirk.
Larsen, who has bought yearlings at the sales for many years, plans to go to the February Sales and purchase up to five horses for the new syndicate.
“We’re looking at an average of $30,000 per horse and selling 200 shares at $1,000. After that, it works out to be about $50 per month. It assures people of how much it’s going to cost. There’s a lot who want to get involved in syndicates but they are often scared about how much it’s going to cost and may think they can’t afford it. If I can give them a price and it’s no more than that it may encourage them.”
Larsen says new owners don’t have to buy a full share. They can buy a share amongst a group of friends.
“But I’m hoping some will also take a couple of shares because selling 200 shares won’t be easy.”
If the uptake is slower than expected Larsen says 160 shares would buy 4 horses or 120 could buy three.
“But by buying a few you’ve got a better chance of getting a result.”
He says he did consider getting a readymade horse to kick start the syndicate but thought that wasn’t the way to go.
“I half pie considered it but you have to pay over the odds for horses (like that) and you’re competing against the Australian market. I’ve tried everything over the years and the best success I’ve had is going to the yearling sales and buying.”
Larsen does have a very good buying record at the sales.
In 2016 he bought James Butt ($16,000) and Thatswhatisaid ($25,000). James Butt won three of his twenty starts and $26,340 while Thatswhatisaid won once and was placed in five of his other starts. Both have since been sold to Australia. In 2017 his three purchases were The White Rabbit ($18,000), Tolkien ($17,000) and Duke Of Dundee ($11,000). The White Rabbit and Tolkien have already won races while Larsen is sure Duke Of Dundee will win at short notice as well.
“If you’ve got up to $30,000 you can generally buy something reasonable. We may pay a little bit more for one and maybe a bit less for something else. We’re also looking (at maybe) buying two colts, two fillies and a trotter so we can diversify a bit.”
He says so far the response has been very positive.
“I’ve had a few owners that have dropped off over the years because they may have sold their farm but they still love the game. It gives them an excuse to go to the races. Some are keen to get back into the game.”
Larsen says his wife Michelle is already using Facebook, photos and videos’ of horses doing track work for their existing group of owners and this use of social media is important to the next generation of owners.
“We plan to have an open day in mid-January for anyone that’s interested and would like to check the place out. When the horses arrive home (February) there’ll be a BBQ, a look at the horses and I can explain how we’re going to do things. The idea is to keep everyone well informed.”
The Larsens are also taking their syndicate idea on the road to the Omakau Races on the 2nd January.
They’re going to be running a special competition that’ll give the winner a phantom share in one of their racehorses so they can get a taste of things to come.
The winner will receive complimentary admission, carpark tickets for 4 people, 4 complimentary race books and be treated like an owner throughout the day, meeting the trainer and the horse.
If the horse wins, then there’ll be an opportunity to have their photo taken with the horse. The Central Otago Trotting Club is also putting $50 each way on the horse.
If you’re keen to get onboard and join the Own The Moment Syndicate, contact Michelle Larsen on 03-2217096 or Tara Blyth on 0274206810.
Bruce Stewart