TERMS AND CONDITIONS FOR EQUITY SHARE IN THOROUGHBRED ALLIANCE SYNDICATE
Effective Date: 1st of March
1. INTRODUCTION
Welcome to The Thoroughbred Alliance Syndicate. By purchasing a 1% equity share in the Syndicate, you agree to be bound by the following terms and conditions, which outline the ownership structure and syndicate management by Stride.
2. DEFINITIONS
- "Syndicate" refers to The Thoroughbred Alliance Syndicate.
- "Stride" refers to the management company responsible for the administration and operation of the Syndicate.
- "Equity Share" means the 1% ownership stake in the two horses listed in Schedule 1.
- "Member" refers to an individual who has purchased an equity share in the Syndicate.
- "Syndicate Bloodstock" refers to the horses owned by the Syndicate as listed in Schedule 1.
3. OWNERSHIP TERMS
- By purchasing a 1% equity share, you acquire a fractional interest in the Syndicate Bloodstock, which grants you the right to receive your proportionate share of any net proceeds derived from prize money, or sale of the horses.
- The legal title to the Syndicate Bloodstock remains under The Thoroughbred Alliance Syndicate, with Stride acting as the management entity responsible for all operations.
- Ownership rights are non-transferable without prior written consent from Stride.
4. MANAGEMENT AND DECISION-MAKING
- Stride shall oversee all aspects of the Syndicate, including but not limited to horse training, racing schedules, and financial management.
- All decisions regarding race entries, jockey selection, and potential sales of Syndicate Bloodstock shall be made at the sole discretion of the trainers Joseph O’Brien and Donnacha O’Brien.
- Members may provide input; however, final decisions rest with the trainers.
5. FEES AND EXPENSES
- The initial cost of acquiring a 1% equity share is €2900 payable upon purchase.
- Members acknowledge and agree that additional costs may arise, including but not limited to training fees, veterinary care, transportation, and administrative expenses. These costs will be deducted from any Syndicate earnings before distribution.
6. FINANCIAL DISTRIBUTION
- Any earnings, including prize money and sales proceeds, will be distributed proportionally among Syndicate Members after the deduction of applicable fees, including trainer fees, jockey fees, and administrative costs.
1. SALE AND PROCEEDS
(i) When a genuine and reasonable offer is received for any of the Syndicate Bloodstock, all members will be asked for their opinion before a decision is taken on its sale. A final decision will be made by the trainer in conjunction with Stride.
(ii) Any prize money won is subject to 9.5% trainers fee, 9.5% jockeys fee and 3.8% injured jockeys fund. The net proceeds of prize money won by Syndicate Bloodstock will be added to the sale proceeds and paid out at the end of the season.
(iii) Stride will receive a 10% commission on any sale from the Syndicate Bloodstock. This includes agent\public and trainer auction fees & consignor fees. The sale of any Syndicate Bloodstock at public auction will be subject to the sales companies’ normal terms and conditions of sale. The net proceeds from the sale of the Syndicate Bloodstock will be paid out to the Syndicate Members as soon as is practical after any sale.
7. TERM AND TERMINATION
- This agreement is valid until 31st of December 2025 or until both horses are sold or retired.
- Stride reserves the right to terminate the agreement if a Member violates the terms set out herein, including failure to comply with Syndicate rules or conduct requirements.
8. CODE OF CONDUCT
Members agree to:
- Act in the best interests of the Syndicate and not bring the Syndicate or Stride into disrepute.
- Comply with all applicable regulations of Horse Racing Ireland (HRI) and other governing bodies.
- Abstain from unauthorized disclosures of Syndicate information.
9. LIABILITY
- Stride and its affiliates shall not be liable for any loss or damage resulting from the performance, injury, or loss of any horse.
- Members acknowledge the inherent risks of horse racing and accept full responsibility for their investment.
10. DATA PROTECTION
- Members' personal data will be processed in accordance with applicable data protection laws, including GDPR.
11. DISPUTE RESOLUTION
If at any time any dispute or question shall arise between the Agent, the trainer, or members of the Syndicate in connection with this Agreement, the parties concerned shall refer the matter to mediation. The Mediator shall be appointed by agreement of all parties to the dispute or, in default of agreement, on the application of any member of the Syndicate, Agent, or trainer to the President for the time being of the Law Society. If the dispute is not resolved within one month of the appointment of the Mediator, or if the Mediator advises the parties to the dispute in writing that the mediation is at an end, the dispute shall be referred to an Arbitrator. The Arbitrator shall be nominated on the request of any member by the President for the time being of the Law Society and, if he is unwilling to act, then in accordance with the provisions of the Arbitration Act 2010. The decision of the Arbitrator shall be final and binding on all members of the Syndicate.
12. GOVERNING LAW
These terms and conditions shall be governed by and construed in accordance with the laws of Ireland, and any disputes shall be subject to the exclusive jurisdiction of the Irish courts.
SCHEDULE 1 – SYNIDATE BLOODSTOCK
Colt by Ten Sovereigns X Be Mindful trained by Donnacha O’Brien
Filly by Sottsass x Adana trained by Joseph O’Brien