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British Horseracing Authority Plans Increased Regulation Of Racing Syndicates

The British Horseracing Authority (BHA) is publishing plans to strengthen the regulation of shared racehorse ownership following an industry-wide consultation completed in the autumn of 2020.

The consultation, which formed part of one of the nine key goals for British racing's recovery plan, examined the current risks and opportunities of shared ownership and how they might be addressed through enhanced regulation and improved administration.

The industry plan for shared ownership, which has been developed through consideration of the consultation feedback and further engagement with stakeholders, details 10 key measures to be introduced as part of a phased implementation plan over the next 12 months. These can be read in full below.

The measures are designed to support public confidence in Syndicates and Racing Clubs and provide a solid foundation for the continued growth of shared ownership.

Key measures within the plans include strengthening the existing Code of Conduct for Syndicates, which was originally introduced in February 2017. The Code requires that all Syndicates which advertise publicly or charge a management fee must provide Syndicate members with a contract that covers specified areas.

These areas will be extended in addition to the BHA increasing its auditing of these contracts. As part of the registration process, and then through on-going spot-checks, the BHA will annually review a proportion of contracts to ensure and monitor compliance with the Code. A Code of Conduct will also be introduced for Racing Clubs.

The BHA will also require that Syndicators disclose the percentage shares held by each member of the Syndicate. Syndicate members will be able to view their own recorded shareholdings through the BHA's Racing Administration system from early 2022.

The plans also build on the existing regulation of shared ownerships which already includes the registration of all individuals who wish to manage, promote or administer a Syndicate or Racing Club. Further information will be sought as part of the registration process to better understand the financial arrangements of each entity and, in the case of a Syndicate receiving a significant amount of prize-money, Syndicators will be asked to outline how and when this will be paid to Syndicate members.

Plans will be developed and tested with Syndicators and Club Managers, which will help ensure the processes and systems that support implementation of the measures are effective, facilitate BHA regulation and simplify ownership administration.

Throughout implementation, each phase will be communicated in advance to all stakeholders with clear lead in times, in addition to help and support for Syndicators and Club Managers in understanding and adapting to the changes.

Richard Wayman, BHA Chief Operating Officer, said: “It is vital for the future of our sport that we are able to attract and retain racehorse owners. Syndicates and Racing Clubs clearly have a pivotal role to play in those efforts.

“The consultation responses confirmed that the sport has many extremely well-run Syndicates and Racing Clubs who give their members exemplary levels of service. It is crucial that the public can continue to have confidence in Syndicates and Racing Clubs, which these measures have been designed to support.

“My thanks go to all of those who took part in the consultation and took the time to offer the feedback which has been central in devising this important package of measures.”

Charlie Liverton, Racehorse Owners Association (ROA) Chief Executive, said: “Racehorse owners contribute over £30m a month to the rural economy and whether they are sole owners, in a Partnership with friends and family, or part of a Syndicate, their retention is critical to the future of the sport.

“Shared ownership in horse racing is thriving across many racing jurisdictions and ensuring that those joining a Syndicate or Racing Club have confidence in our sport is crucial. The ROA recognises this consultation as an important piece of work to build public confidence and join what is the greatest thrill – ownership of a racehorse.”

Dan Abraham, Racehorse Syndicates Association (RSA) Chairman, said: “The consultation conducted by the BHA confirms the outstanding ownership experience available to members of Syndicates and Clubs.

“The BHA's review and strengthening of the regulations related to shared ownership should even further enhance the public's confidence. The appeal of Syndicates and Clubs is stronger than ever and the RSA welcomes the BHA's approach to provide increased protection for members as well as Syndicators and Club Managers.”

The ten new measures, which will be implemented in a phased approach throughout 2021 and early 2022, are as follows:

PHASE 1 – For implementation from May 1, 2021

To extend the Syndicate Code of Conduct to cover new terms, including the acquisition costs of the horses, what will happen in the case of a horse's retirement and the dispute resolution procedure;
To introduce a new Code of Conduct to cover Racing Clubs;
To require Syndicators to confirm how and when prize money received following a significant win shall be paid to members; and,
To facilitate the addition of Syndicate members who accumulate bad debt to the forfeit list.

PHASE 2 – For implementation in Summer 2021

To introduce additional questions into the Syndicate registration form to better understand financial arrangements and how upfront costs will be covered; and,
To begin a sustained campaign to publicise the Codes of Conduct.

PHASE 3 – For implementation in early 2022

To ensure all Syndicate members and their percentage shares are recorded with the BHA;
To allow all Syndicate members with ≥2% share access to view their ownership online;
To begin auditing a proportion of Syndicate and Racing Club contracts to ensure compliance with the Codes of Conduct; and,
To prioritise the improvement of Syndicate and Racing Club administration systems to allow for easier compliance with new regulations and a better ownership experience.

A detailed breakdown the of measures including how they will be applied and who is expected to comply, along with a summary of consultation findings, can be found here.

Detailed guidance and support for Syndicators and Club Managers can be found on the BHA website here. Guidance includes access to the new Syndicate and Racing Club Codes of Conduct along with their FAQs.

The measures focus on shared ownership in the form of Syndicates and Racing Clubs. Syndicates are a form of ownership where members of a Syndicate share the ownership of one or more horses. Racing Clubs are a form of ownership where members of a Racing Club enjoy some of the benefits of being a racehorse owner, except they do not have any ownership rights of the horse. Instead, the ownership of the horse is retained by the Racing Club itself.

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‘A Small Step Of 70 Years’: Mike Shanley Excited About Budding Star Nova Rags

His biggest success stories in parts of five decades owning and breeding Thoroughbreds have come on the grass, but Mike Shanley has a budding dirt star on his hands that just may well be the best horse he's had in nearly 20 years. Maybe ever.

“I hope so,” Shanley said. “We'll see more on Saturday.”

Shanley's stakes-winning homebred Nova Rags, trained by Hall of Famer Bill Mott, will face the biggest test of his young career in the $750,000 Curlin Florida Derby (G1) presented by Hill 'n' Dale Farms at Xalapa at Gulfstream Park.

The 1 1/8-mile Derby for 3-year-olds headlines a blockbuster program featuring 10 stakes, six graded, worth $1.85 million in purses. In its first 69 runnings, the Derby has produced a remarkable 60 Triple Crown race winners, the most recent being 2020 Belmont (G1) hero Tiz the Law.

Shanley would like to add Nova Rags' name to that list but, in keeping with a career spent in law as a real estate attorney and judge as well as his long association with racing, he matches that optimism with an equal dose of reality. He has never run a horse in the Triple Crown.

“We're obviously very excited with what he's done so far and looking forward to the Florida Derby. It's certainly a big step up, but Bill Mott feels comfortable with it and that's how we're going into it,” Shanley said. “Really all the credit goes to Bill and [son and assistant] Riley and the Mott team for bringing him along to this point.”

Nova Rags was a maiden special weight winner in his debut last October at Belmont Park, then ran fourth as the third choice in a field of seven in the Nashua (G3) at Aqueduct to cap his juvenile campaign.

By 2012 Belmont winner Union Rags out of the Smart Strike mare Wishful Splendor, Nova Rags has run twice at 3, both at Tampa Bay Downs, winning the seven-furlong Pasco Jan. 16 and finishing second by a length to stablemate Candy Man Rocket in the Sam F. Davis (G3) Feb. 6.

“Bill insists and I agree on proceeding a day at a time. I know it's trite, but proceeding a race at a time,” Shanley said. “If Nova Rags does well on Saturday, then I expect he'll be taking us to the Kentucky Derby. But to think about that now is just one step too far.”

Shanley is a native of upstate New York, growing up in the Binghamton suburb of Vestal in the Southern Tier region. He graduated from Albany Law School in 1972 and stayed in the area where he raised six children with wife, Lyn. “Pretty much retired” in recent years, the Shanleys now live primarily in Florida.

He got his first horse, a pony named Trigger, at the age of 4, but Shanley's introduction to owning Thoroughbreds came as part of a partnership group that purchased Grade 1 winner Ends Well from Greentree Stable in 1985. He and best friend Leonard Leveen were among a triumvirate that owned Turk Passer, winner of the 1995 Turf Classic Invitational now named for late Hall of Fame writer Joe Hirsch.

“It was really just a result of my interest in horses. Initially I got into one of the early racing partnerships and it just developed from there,” Shanley said. “There were three partners in Turk Passer, and I was the managing partner. We had great fun with him. He was our first Grade 1 winner and, believe it or not, Johnny Velazquez's first Grade 1 winner.”

Turk Passer also provided Shanley with his first of two trips to the Breeders' Cup before being retired in 1997 with eight wins and $735,320 in purse earnings. Velazquez has gone on to a Hall of Fame riding career that includes nearly 6,300 wins and a record $431.4 million in purses earned.

Shanley won another Grade 1 in the 2003 Sword Dancer at Saratoga with Whitmore's Conn, a horse he co-owned with his wife and named for both of their mothers. Whitmore's Conn also won the Bowling Green (G3) in 2002 and 2003 and retired with seven wins from 28 starts and a bankroll of $740,426.

“Whitmore is my mother's maiden name and Conn was Lyn's mother's maiden name, so Whitmore's Conn was the choice,” Shanley said. “Lyn's mom passed away a number of years ago at the age of 99 and my mother is still living by herself and taking care of herself in Bradenton at almost 97.”

Other top horses for Shanley have included Stormy Len, second in the Secretariat (G1) and third in the Northern Dancer (G1) in 2013 for he and Leveen; Grade 3-placed Freedom Rings, who ran in the inaugural 2008 Breeders' Cup Juvenile Fillies Turf; 2006 New York-bred stakes winner Peg's Prayer, named after Shanley's late aunt and godmother; and fellow six-figure earners Dubliner and Aussie Prayer.

In 2002, when Leveen dispersed his bloodstock holdings and gave them the mare Dana's Wedding, the Shanleys began making the transition into breeding. They continue to own Wishful Splendor, a Grade 3-placed mare who was retired after winning her final start, the then-ungraded Suwannee River Handicap in 2004 at Gulfstream.

“We really shifted from focusing on the yearling sales and 2-year-old sales to a breeding program. That's what we've been focused on the last number of years. Nova Rags is a product of that program, which takes longer to develop than driving to Keeneland and buying a horse,” Shanley said. “We have a 2-year-old Nyquist filly with Niall Brennan in Ocala and a yearling More Than Ready colt who's with Sarah Sutherland at Indian Creek Farm in Kentucky.

“To me, it's more interesting because you get the opportunity to race or purchase a mare, hopefully with a pedigree that will carry on,” he added. “Then you have decisions every year on how you want to breed the mare. You get the most beautiful colt or filly in the world every spring, which is great fun. You watch them grow up and eventually, hopefully, get to the racetrack and do well.”

Nova Rags was consigned to Keeneland's 2019 September yearling sale but did not meet his $275,000 reserve. The Shanleys plan to be at Gulfstream Saturday to cheer on their young star and continue a lifelong love affair.

“My mother and father bought a horse for me, a riding pony, when I was 4. Since then I've been in love with horses,” Shanley said. “It transitioned from a 4-year-old having a riding pony to the Florida Derby on Saturday. A small step of 70 years.”

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17-Year-Old Joshua Attard, Grandfather Tino Attard Team Up With Plate Hopeful Keep Grinding

Joshua Attard, the 17-year-old son of multiple stakes winning trainer Kevin Attard, is hoping his colt Keep Grinding gets a shot at Queen's Plate glory on August 22.

In his last year of high school, Joshua has high praise for his 3-year-old Ontario-bred (trained by his grandfather Tino Attard), who capped off his 2-year-old year with an impressive victory.

Horse: Keep Grinding
Sire: Tizway
Dam: Samsal
Trainer: Tino Attard
Owner: Joshua Attard
Breeder: Huntington Stud Farm Corp.
Record: 1-0-0 from 3 starts

On being a teenage Thoroughbred owner:

“It feels great. I never would have expected, to be honest, to have a horse like this at my age. I'm really excited to have an opportunity to have a horse that is eligible for the Queen's Plate, and that has a chance to be in the race.”

On when he knew Keep Grinding had potential:

“I knew when he started to work as a 2-year-old last year. I used to go in the summer, when I didn't have school, to watch him work and he would put on a show. His first race on the grass, I knew he had some talent because he came from far out of it and the race was a little short for him. He's a two-turn horse. When he broke his maiden, that's when I said I had a Queen's Plate prospect.”

On why he chose the name:

“I wanted to name my horse something that motivated me. I play hockey. When I go into the corners, I always tell myself to keep grinding for the puck. So, if I ever had the chance to own a horse I would name it Keep Grinding. It's something that motivates me and I hope it motivates other people.”

On the thought of having a Queen's Plate starter:

“I'm very excited and happy. I'm really looking forward to that possibility of being in the Plate. Hopefully, everything goes well and we make it to the race. He started training in the past three weeks. It would be great if my grandfather and I had a shot to be in the Plate.”

On staying patient with the race being run on Aug. 22:

“I try not to think about it. I keep my thoughts to myself. I know it's a hard road to get to the Queen's Plate, so we'll just hope the horse keeps developing and getting better each week.”

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Breeders’ Cup Presents Connections: ‘I Guess I’m One Of Those Dreamers’

From his teenage years mucking stalls at Ascot Park in Ohio to preparing to watch his silks line up in the Grade 1 Pegasus World Cup on Jan. 23, owner John Sondereker is enjoying the fruits of cultivating a lifelong passion for Thoroughbred racing.

When recent G2 San Antonio winner Kiss Today Goodbye enters that 12-horse starting gate at Gulfstream Park, Sondereker worries his emotions might overwhelm him. The newly-turned 4-year-old son of Cairo Prince is the owner's first graded stakes winner, and Sondereker himself selected the horse as a short yearling at the 2018 Keeneland January sale.

“It's a big thing for me, of course; I've only been in a couple other Grade 1s, and I think I finished last in both of those,” Sondereker said, laughing genially. “He's just a colt that's really improving, and loves distance. This is a mile and an eighth, and there's a lot of speed in the race, so who knows? You get the right day for the right jockey, anything can happen.”

This sport has proven that adage many times over, launching the biggest dreams of small owners and trainers into the stratosphere.

That racing dream didn't really take hold of Sondereker until 1961. He'd been attending races at Waterford Park (now Mountaineer) with his father and uncle since the 1950's, and when the family moved to Cuyahoga Falls in Ohio, he was able to get a job cleaning stalls at the now-defunct Ascot Park for a dollar an hour.

After a couple years working there, the trainer employing Sondereker took him on a trip to the 1961 running of the Kentucky Derby. There was a horse running with an Ohio connection: Carry Back. His owner and trainer, Katherine and Jack Price, respectively, often ran horses at Ascot Park and Thistledown, so Sondereker had a natural rooting interest.

Carry Back won the Run for the Roses that day with a devastating come-from-behind late kick, and Sondereker has been hooked ever since.

“It was a small stable and they happened to win,” Sondereker said. “Here I was down there standing around with like Bill Hartack, and it was like, 'Wow, look at this.' There were all these impressive people, the kind I'd never been exposed to, and I had no clue it could be like that.

“It just had a major impact on me. I said then, 'I hope someday I can own a horse like that.' I guess I'm one of those dreamers.”

John Sondereker with his purchase ticket for Kiss Today Goodbye at the 2018 Keeneland January sale

Sondereker worked for Wells Fargo in Des Moines, Ia. for 40 years, during which time he owned “a few cheap claimers” at nearby Prairie Meadows Racetrack. Since his retirement in the early 2000s, Sondereker has stepped up his ownership interests.

He began with a few different partnership groups, learning the basics of what goes on behind the scenes.

“It was fine, but I just wanted more out of the game, more participation,” said Sondereker. “I knew there was more for me, and I found it with (trainer) Eric (Kruljac) and going to the sales. It takes a lot of practice, and even when you know what you're doing, you probably don't! I've got to where I'm confident, I know what I'm trying to do and how I want to do it. I just enjoy the whole process.”

By 2015 Sondereker was ready to try picking out a few horses on his own.

“It's hard buying any horse,” Sondereker admitted. “I'm not good at this, but I love to do it. Going out and doing it on my own, and seeing if I can accomplish something, that's the big thing to me. I thought I could learn, and Eric has really taught me a lot over the last 8 to 10 years.

“I'm having a ball, 78 years old and I'm still learning. That's the real secret to retirement, to be able to do something that you realize you're not the best in the world at. There's something you can always learn about the horse business. Eric probably has taught me 10 percent of what he knows, but that's a lot to me. It's given me a good foundation, and I've picked up a lot along the way. It's great when you're learning. That's the secret.”

Kiss Today Goodbye has easily been Sondereker's most successful purchase thus far, and is named for the opening line in the owner's favorite song, “What I Did For Love,” from the Broadway musical Chorus Line.

He'd considered the colt a turf horse when he bid up to $150,000 at the 2018 January sale. Kiss Today Goodbye is out of the Heatseeker mare Savvy Hester, who won or placed in multiple listed turf stakes at Woodbine.

The colt made his first two starts on the turf, then took three more starts over the dirt to break his maiden. Kiss Today Goodbye ran competitively in the listed Shared Belief Stakes at Del Mar in August of 2020, beaten just 1 ¼ lengths by Thousand Words, then went back to the turf for a pair of graded stakes efforts.

He finished fifth in the G2 Del Mar Derby and fourth in the G2 Twilight Derby at Santa Anita, then in mid-November came back to win a one-mile allowance race over the main track at Del Mar. Sondereker saw the G2 San Antonio coming up in the stakes schedule, and urged his trainer to consider entering Kiss Today Goodbye.

“His dam had accomplished quite a bit on the grass, but he just had trouble grabbing it for some reason,” said Sondereker. “I said to myself, 'His Thoro-graph numbers are competitive with most of the 3-year-olds in the country, so let's just try this Grade 2. He's definitely a distance horse, he has the numbers, there's no reason not to try it.'

Kiss Today Goodbye rallied from last under Mike Smith to win the G2 San Antonio

“Eric is more conservative than I am! I just thought we should go for it, and every once in a while you're right.”

Though he couldn't attend the race in person due to COVID-19 restrictions, the San Antonio victory was deeply satisfying for Sondereker.

“There's a lot of skill involved, but there's also a lot of luck,” he said. “I probably wouldn't have gone over $200,000 for Kiss Today Goodbye, but that's not a tremendous amount of money at a sale when you have a stakes-winning mare and a good physical. But it was Cairo Prince's first crop, so that's how I ended up with him for sure.”

Whether it was skill, luck, or something in between, Sondereker is thrilled at the prospect of attending his colt's Grade 1 debut in the Pegasus World Cup. He hasn't been able to hang out with the horses on the backside nearly as much this year, of course, so he cherishes every opportunity to see the horses in person just a little bit more.

“There's going to be a lot of changes in the next 2 ½ weeks,” said Sondereker. “My wife is an RN and really involved in the COVID world, but Florida's held out and been pretty flexible, so they may still allow us to go.”

There are other things to look forward to, as well.

Sondereker purchased an exciting daughter of War Front at the 2020 Fasig-Tipton Selected Yearling Showcase, spending his entire yearling budget in one fell swoop when the hammer fell at $625,000.

“When you start out, you wanna buy four or five or six in your budget, and I get why that's good for the industry,” Sondereker said. “You don't want to bid on anything you can't afford, but I'm the opposite. I'm the underbidder on a lot of really nice horses.

“For me, less is more; I currently have 18 Thoroughbreds.”

Additionally, the Breeders' Cup will return to Del Mar in 2021, where Sondereker has a vacation home.

“Del Mar is the best place in the world,” he said. “Hopefully they'll get the vaccine stuff figured out this year, and I'll be able to get my box for the Breeders' Cup.”

Sondereker might even get the chance to wear a purple owners' cap all his own. It's horse racing, and anything is possible.

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