Where we are at the moment...
The Cleeve Club is coming together nicely and we are now ready to move to the next stage. We have had a strong response so far, over 100 people have expressed an interest which means that we will be going to the sales and expect to have horses running in the Club's colours after October 1st.
We now need to firm up the level of interest. There is still no payment required at this stage, but if you're still keen to join we need to know.
If you have any questions regarding how the Club runs or the sourcing of the Club's horses, just drop us a line and we will get straight back to you.
The Club's unique selling point...
Over half of the money raised by most syndicates is spent on training fees, but our deal with Micky means we won't pay training fees for the full 2-year lifetime for the Club. This means virtually all the money raised will be spent at the sales... which means we will be able to target much better quality horses.
According to the Racehorse Owners Association (ROA), the average cost of keeping a horse in training is £22,595 per year on the Flat and £16,325 over jumps.
Micky Hammond will train our horses...
Micky trains in Middleham, North Yorks. He has an excellent record at improving new horses coming into his stables.
We've done a deal to clearly align Micky's interests with ours...
Instead of training fees, Micky will take 60% of any net prize money that the Club's horses win and 33% of any resale proceeds, so his sole motivation is to win races with Club horses and sell them for a profit.
Will there be any extra costs?
We will set aside a contingency fund of approximately 15% to cover all normal racing and admin costs so the only extra costs will be if major vet bills crop up which will then be voted on by members.
What % will each share be?
Until we know the final numbers of members we are not able to say definitively. If we have 100 members a share will be 1% if we have 50 members a share will be 2% and so on.
What is the maximum number of shares?
The maximum of total shares will be 100 and the maximum number of shares that can be held by any individual is 6.
What other benefits do I get as a member?
The Cleeve Club is all about increasing the enjoyment that we get from the sport we love. It's all about days at the races watching our horses run, organised owners days at Micky's stable, days at premium race meetings, a Cheltenham preview night hosted by Andy Gibson and any opportunities we can find that adds value to members.
What happens at the end of 2 years?
1) Members vote unanimously to liquidate the club's assets and split the net proceeds pro-rata.
2) Members vote unanimously to keep the club's assets and negotiate a new deal with Micky as an independent owners group.
3) A split vote; members who want to keep the assets must offer members who wish to leave 'fair market'price for their shares.
The Cleeve Club will be run as a democracy and any major decisions that affect the club's assets will be subject to a members vote.
What you need to do next...
If you are definitely interested in joining the Cleeve Club email me at email@example.com If you would prefer to have a chat about anything send me your phone number and we will give you a ring.