Transparency
Cost of Racehorse Ownership: Fees & PDS
Before you become an owner, here’s a guide to the cost of racehorse ownership in Australia. It explains what your Kurrinda share covers, as well as fees, ongoing costs, and our policy on prize money distributions as set out in our PDS.
- Approved Promoter with Racing NSW, Racing QLD & Racing VIC
- Authorised representative (No. 001285134) of Stable Connect Ltd
- AFS Licence No. 336964
How Much Does It Cost to Own a Racehorse?
The cost of owning a racehorse includes daily training fees plus extras like agistment and spelling (rest periods), vet and farrier care, feed, transport, race nominations and acceptances, and insurance. It works out to about $3,500–$4,500 a month, or roughly $40k–$60k a year in total.
Your syndicate share covers a percentage of that amount, which entitles you to a corresponding share of prize winnings. While it’s exciting to get close to the action, most owners agree that horseracing is primarily a passion where prize money just helps offset costs.
On top of your share, a management fee of $16.99 per week (incl. GST) continues all year round.
Do I Pay When the Horse Is Spelling?
Yes. When your horse is taking a break from racing or recovering from injury, your share of the spelling account is part of the regular monthly cost of owning a racehorse.
How Much Does It Cost to Join a Racehorse Syndicate?
How much does it cost to own a racehorse as part of a syndicate? First, you will purchase your share percentage and pay that proportion of your horse’s purchase price. Then, you pay your percentage of the horse’s ongoing expenses (see table). Finally, there is a weekly management fee of $16.99 inclusive of GST.
Browse Racehorse Shares| Your Share | Cost Per Year | Cost Per Month |
|---|---|---|
| 2% | $800–$1,200 | $67–$100 |
| 5% | $2,000–$3,000 | $167–$250 |
| 10% | $4,000–$6,000 | $333–$500 |
Note: Indicative figures only. Actual racehorse ownership costs depend on the horse, the trainer and how much racing and spelling the season involves. You’ll be given specific figures for any horse before you commit. See Buy Racehorse Shares for details.
What Is in a Kurrinda Product Disclosure Statement (PDS)?
Every prospective syndicate member receives a product disclosure statement (PDS) when considering a share. It focuses on the horse, the share structure, costs, risks and information about the trainer, so you’ll know exactly what you’re buying into before you commit. Kurrinda sends a PDS as a matter of course before any money changes hands. It provides:
Ownership Terms
How the horse is divided (the available share options, e.g., 2.5%, 5%, 10%, etc.) and the price of each share. It also sets out each holding’s estimated ongoing costs (e.g., a 5% share covers 5% of racehorse training fees and running costs), and any minimum purchase rules. You can then select a share percentage using the application form contained in the PDS.
Veterinary Report Scope
An independent veterinary report is included, and it is accompanied by a Fit for Syndication Certificate. The report records the horse’s health and soundness at the time of purchase, including heart, wind, eyes and limbs; X-ray findings; any physical defects or conformation issues; and the vet’s overall assessment of its suitability for racing. The report is valid as at the date of purchase and can only comment on the horse’s health as at the date it is inspected.
Fees and Disclosures
The fee schedule is a breakdown of every cost you’re liable for as an owner. These include the share purchase price, outgoings (like training, veterinary costs, racehorse insurance costs, and agistment), plus management or administration fees and commissions (any percentage Kurrinda Bloodstock or the trainer takes from prize winnings or future sales).
Disclosures are facts that the syndicate is obliged, or chooses, to reveal about your purchase for transparency. These include things like your rights and obligations as an owner, what insurance does and doesn’t cover, how profits are distributed, and any potential conflicts of interest.
Risks
A PDS clearly identifies the risks involved in joining a syndicate. For example, returns are not guaranteed. For many owners, horse racing is a passion, and one that rarely makes a net profit in financial terms. That said, the joy of being involved at the grassroots level is very much its own reward.
Termination and Exit Clauses
The PDS states how an owner can exit the syndicate. Shares in a racehorse can be sold or transferred, subject to conditions contained in the PDS and the racing authority recording the change.
Complaints Process
The PDS provides a clear explanation of how complaints should be handled. Terms may differ between syndicates and vary according to state-based rules and requirements.
If you’re interested in proceeding with a share, ask us for the relevant PDS (Product Disclosure Statement), detailing the cost of racehorse ownership for the syndicate you’re interested in. It provides individual information on your horse, the share structure, fees and disclosures, ongoing costs and the risks involved.
Request a PDSHow Prize Money and Payments Work
Unlike many syndicators, Kurrinda takes no cut of your winnings. Before prize money is split, each state racing authority will deduct welfare contributions. In NSW, for example, Racing NSW deducts 1% for jockey welfare and 1.5% for equine welfare, then splits the rest between owners, and other mandatory deductions including trainer, jockey and stablehands.
See Racing NSW or the relevant authority in your state.
Prize Money Distribution
In proportion to your ownership share, paid fortnightly or monthly (depending on the state), to your account.
No Prize Money Cut
Kurrinda takes no percentage of prize money, which is calculated after mandatory, state-based deductions.
What Happens to My Share If…?
What Happens If My Horse Is Injured or Does Not Race?
Owners usually continue to pay their share of the cost while the racehorse is being treated, rehabilitated or spelled. The trainer and vet will assess whether your horse can return to the track. If not, the syndicate manager typically recommends a new path, such as breeding or rehoming.
What Happens If the Horse Is Sold?
Sale proceeds, if applicable, are split amongst owners by their ownership percentage, after deducting selling costs (auction/listing fees, applicable commissions for Kurrinda Bloodstock and the trainer, and any other costs that may be payable). If sold, any changes to the ownership are lodged with the relevant racing authority.
What Happens If the Horse Is Retired?
Retirement decisions are made in your horse’s best interests, with stud for well-bred mares and successful colts, and retraining for others. Retirement decisions are usually based on age, injury, or poor form, and it’s the syndicate manager’s role to arrange a new home and report the change to Australian racing authorities.
Can I Sell or Exit My Share Early?
Shares can be sold or transferred, subject to the terms of the agreement and the racing authority recording the change of ownership. Your syndicate manager can usually assist you to find a sale, although we cannot guarantee a price or buyer.
Licensing and Regulatory Compliance
1
State Approvals
Approved Promoter with Racing NSW, Racing QLD and Racing VIC.
2
AFSL Relationship
Authorised representative (No. 001285134) of Stable Connect Ltd (AFS Licence No. 336964).
3
Complaints Process
Owners typically raise the complaint in writing with the syndicate manager first, following the dispute resolution steps set out in the PDS or syndicate agreement.
4
Conflicts of Interest
Any interest we hold in a horse is disclosed upfront in the PDS, so you always know who benefits and how. If you have a specific question, please ask us.
Ready to See a Real Share Offer?
How much does a horse syndicate cost? Browse our currently available racehorses and ask about share offers. We’ll provide a complete budget for each horse with specific details on what your ownership involves.
