No ID Card for Unpaid Yearlings
Very few owners of two years olds would associate the fact that money owing on the horse when purchased by their Trainers at a yearling sales would be the reason that it is not at the races as a two year old. Whilst the practise of Auction Houses giving credit to Trainers at yearling sales has long been the norm, the controversy starts when the Trainer is unable to fill all of the Ownership shares from within his client base.
Each horse must have a Foal Identification card (copy attached) issued by the Australian Stud Book. These ID’s are withheld by the Vendor where credit purchases are involved until all outstanding money owing has been paid. Cases are plentiful whereby Trainers have two year olds ready to race early in the season, but can’t nominate them due to the fact that the Trainer still owes money on the horse. Common explanations to Owners include that the horse is not nominated because it has “gone shinny”, “needs more time” or that “there are no suitable races”.
Amazingly, around 6500 mares (around 45% of the national crop) were bred to provide two year olds for this season in NSW. When you consider the dearth of races being run for this age group so far, it begs the question, where are these horses?
Quite aware of this situation, Clubs are reluctant to programme many two year old races early in the season because there simply aren’t enough horses to make up fields. Whilst the above reason is not the sole reason, it is a significant contributing factor and Owners are usually the last ones to know.
If you are the Owner of a Two Year Old, ask your Trainer to show you a copy of the Foal ID for the horse. If he can’t produce it, you need to ask some more questions.
Under the Trainer Connection model, using a Product Disclosure Statement (PDS) to advertise and syndicate young horses, Owners can rest assured that the above scenario will not occur. Trainer Connections maintains a Trust Account (for each horse for which it is assisting a Trainer to find Owners) and all funds payable into the Trust Account must be released to the Vendor of the horse under the above scenario once the Ownership is full. In the event that it is not fully subscribed by the six month expiry period under which the PDS operates, all Owners are refunded their money.
Racing enthusiasts who purchase horse shares through the Trainer Connections model can rest assured that their investment is protected. To further discuss the above or see how Trainer Connections can protect your investment, speak to Craig Tognolini by phoning 1300 21 21 11.