JAN
2007
NSWROA DIRECTORS
Max Whitby – President
Stephen van Eyk – Vice President
Rob Albon– Secretary
Benedict Chan
Darren Farnham
Chris Keogh- Treasurer
Michael Kissane
Ray McDowell
Michael Yates
David Reay – Executive Manager
MEMBERSHIP OPEN
FOR 2007
Membership is now open for 2007 and members are encouraged to approach friends and colleagues eligible to join. With another busy year ahead we aim to grow our member base and unite to achieve positive outcomes for the Racehorse Owners of NSW.
NOTE FROM THE PRESIDENT
‘New Executive Manager Appointed’
I am pleased to announce that the Board has acquired the services of a New ‘Executive Manager’ in David Reay who will commence with the Association in a full-time capacity from Monday the 20th of January 2007. David has a varied and impressive background and on
behalf of the Directors we wish him well and look forward to David making the role his own.
David joins the Association after successful tenure’s with the Port Macquarie & Queanbeyan Racing Club’s where he was Secretary Manager prior to his move to Sydney. David also successfully races a 2-year-old filly‘Cash for Cards’ who is entered for this years Inglis Classic.
SYNDICATION INFORMATION
‘ROLL OF A PROFESSIONAL SYNDICATOR
STAGE ONE :RISK REDUCTION & QUALITY ASSURANCE
Professional Selection Process
Professional syndicators rely on their racetrack success to prove their worth. Their business is both competitive and demanding. Glossy advertising is not the gage of success but rather racetrack winners and happy owners. The successful bloodstock syndicators are those whom are good horse people with the “eye” for a horse and a sound knowledge of pedigrees and conformation. However most importantly they know their industry and business well. They know the statistics that drive the industry from both a racing and breeding perspective.
Pedigrees Research
Sires
Professional syndicators do countless hours of research prior to the sales. Leading syndicators will be able to quote statistics on each stallion represented in the catalogue relating to performance. With the obvious exception of first season sires, professional bloodstock syndicators will have immediately
available, information on each stallions number of runners, winners, wins, placed, stakes performers and prize money earners which is translated into percentages and ratios to give accurate information as to how a stallion is performing and not be influenced by the marketing “spin doctors” at the studs where the stallions stand.
Dams
Relating to the female pedigree, significant analytical work is conducted reviewing genetic aspects of the female pedigree and identifying “ticks and crosses” that indicates an increased opportunity of a superior equine athlete. Further work is carried out on the commerciality of the pedigree and a professional syndicator would be expected to know the market values of all progeny that have sold out of the same dam and the second dam. This is paramount to ensure comparative values are gained to give an indication to current market value of the yearling to be sold.
Professional syndicators will have spent long hours inspecting many yearlings prior to the sale commencing. They should have looked at each horse they had identified through pedigree research. Professionals would have critiqued both the conformation and athleticism of each yearling and eliminated any horse from their lists that do not meet a high standard. Horses that are retained on the list through the initial inspections are then re-inspected later to ensure their initial selection process was correct.
Quality Assurance
Once a short list is obtained all professional syndicators will employ the services of a trusted veterinarian to give a final inspection and check for purchase acceptability. At this stage professional syndicators will also pay the vets to listen with a stethoscope for heart irregularities. Its simple – if in doubt – it’s ruled out.
Finally with the short list refined to only premium lots, it is imperative that professional bloodstock syndicators have the x-rays inspected which vendors deposit in the sale yard repository. This inspection is paramount. It is a sad reflection how many horses have issues that are obvious on x-ray that can’t be detected in any other form. Again it’s simple – if in doubt – it’s ruled out.
You would not buy a house that was riddled with termites if you received a pest report. Same with an x-ray report.
Valuation
Finally by the time an approved short list is created the syndicator will work through his values and create a buying ceiling price that will put a cap on how much to pay for individual horses. It is imperative to buy at value. Most professional industry people do not know how to value horses. They do it on gut feel and competitive ego. This is the quickest way to turn a big fortune into a small fortune. Like every aspect of life goods have a market value. Professional syndicators should never pay more for a horse than its worth.
Sale Process
By the time the horse enters the ring it’s the climax of countless hours by a team of professional industry experts. With the market valuation already established the emotion is removed from the process. Then horses are offered and realistic assessments are made without any impulse bids.
If successful, fall of the hammer insurance will be in place immediately, and the syndicator will sign for the horse.
End of Stage One.
Next month we cover Stage Two ‘After Purchase’ in the role of the ProfessionalSyndicator. The entire version is available to view on the website by selecting the ‘Overview on the Racehorse Syndication Industry’ link.
CHANGE OF DATE - NSWROA CHARITY GOLF DAY
The Charity Golf Day scheduled for Tuesday 20th of February 2007 will be rescheduled with a date to be advised in March or April. The benefactor will remain the Cornucopia Committee (fundraising for the Prevention of Child Abuse)
The venue again is the Macquarie Links International Golf Club
The cost is $200 per person which includes golf, motorized cart, breakfast, lunch, refreshments, valet parking and prizes. You will spend the day with trainers, jockeys and racing media where the focus will be on relaxation and fun
Professionals will be on hand for advice and guidance
For further information or to make a booking please call the office on 02 9299 4299
MEMBERS FEEDBACK & HOT ISSUES
As it is our aimto keep members appraised on current issues anditems forwarded to the boards’ attention, the newsletter will now feature a regular Members Feedback and Hot Issues column. The progress of the feedback and any items in progress outside of the association will be updated via this column. This month the board at its meeting will be actioning feedback and items relating to Late Nominations and Owners incentives (Owners rights at Race Clubs & Owners Rooms).
LATE NOMINATIONS – DISADVANTAGED OWNERS
Feedback is welcome from all members regarding the Late Nomination Process currently in force at RacingNSW. The issue is certainly not new to many but is again being re-visited by the board as we continue to receive negative feedback. Central to the issue is that owners/trainers nominating their horse after the close of nominations are at an advantage. If dates are set for Nominations and Acceptances then it should be left at that. As one member pointed out, ‘why should anyone in a game of poker be afforded the opportunity to firstly see my hand and secondly be offered the chance to beat me if they so desire’.
There is also concern that late nominated horses should not have the opportunity for the original field size barriers. The proposals made recently by one member are as follows:
1)Any horse not nominated at the specified time and date will not be included in the barrier draw.
2)All Late Nominations who accept for any race will be allocated barriers outside of those horses who nominated at the correct time and date, barriers allocated to the late nominators will be via a separate draw.
Please log onto the website to voice your opinion on this issue - whether you are in support of this proposal, have contrary views or would like to make further suggestions.
ATO – CHANGES TO HORSE RACING INDUSTRY RULINGS
As reported in the Sydney press recently the Association is extremely pleased to hear the Australian Taxation Office is considering a new draft ruling in relation to the thoroughbred horse racing industry. The potential chances could mean racehorse owners have the right to claim the cost of training horses as a tax deduction.
The Association has worked long and tirelessly with specialist racing tax accountant Paul Carrazzo – who writes regularly for this newsletter - and with the ATO to gain clarity and quality concessions for owners. We look forward to further developments.
We will keep members posted on the progress of this exciting issue regularly through the Members Feedback and Hot Issues column.
It has been drawn to our attention that members are having trouble accessing the owners room at the AJC.
We have lobbied with great success for owners benefits at both the AJC and STC. The AJC have just opened a new owners room – it is the first building on your left off Alison Rd.
I have exchanged various phone calls and met with Tony King, Chairman of the AJC. We have been exploring the idea of a voucher system or asking them to extend their courtesy to the ROA members further. Tony gave me an undertaking they would review the new system in three months – that was late last year – and we appreciate the AJCs efforts in trying to solve this issue.
I will keep you posted on the progress.
To keep the communication lines open and effective between the board and the members, we encourage everyone to utilize the website - - as your first port of call to raise any concerns you have and to receive regular news updates and feature articles.
If you have recently moved or have a new email address please either send an email to the office on or call on 02 9299 4299 to update your contact details.
FREE ENTRY
JANUARY (15-31)
15thNowra, Wellington
16thTamworth
17thMurwillumbah, Wyong
18thCoffsHarbour
19thAlbury, Queanbeyan
20thDeepwater, Gunnedah, Tumut, Kembla Grange
21stPort Macquarie, Wyong
22ndMoruya
23rdCessnock
25thGosford
26thWagga, Wellington
27thBroadmeadow, Corowa, Lismore, Orange, Tamworth
28thBallina
29thKempsey
30thNowra
31stWyong
(NB: Free entry to Gosford is NOT available for NSWROA members on Weekend or Feature meetings)
Yours in Racing
Max Whitby
President