RSA work with BHA on new Syndicate Forfeit List for Non Payment

New form brings syndicates members in line with the BHA’s official record of debts and identifies persons who have been disqualified as a result of arrears due under the Rules of Racing.

One of the greatest challenges facing racehorse syndicates today is the growing problem of members who walk away from their financial commitments when circumstances become less favourable. Whether a horse suffers an injury, loses form, or simply fails to meet expectations on the racecourse, some individuals choose to stop paying their agreed contributions, leaving fellow syndicate members and managers to shoulder the burden.

We have also seen the emergence of what we’d describe as “syndicate hoppers” – individuals who move from one syndicate to another, enjoying the excitement and benefits of ownership while avoiding the long-term responsibilities that come with it. Such behaviour undermines the trust, fairness and sustainability upon which successful syndicates depend.

It is important to remember that syndicate members are not merely customers purchasing a leisure experience. They are racehorse owners. Ownership carries both privileges and responsibilities. When individuals join a syndicate, they acquire a share in a living animal whose welfare and care must be maintained regardless of racing performance or temporary setbacks. The costs associated with training, veterinary treatment and daily care do not disappear when a horse is injured or out of form, and neither should an owner’s obligation to contribute towards those costs.

For this reason, the RSA has been working with the British Horseracing Authority to create a specific Forfeit List Non Payment Form.

The Forfeit List is the BHA’s official record of debts and identifies persons who have been disqualified as a result of arrears due under the Rules of Racing.

Syndicators now have a mechanism to seek redress when members fail to honour their contractual obligations. Through the BHA’s online reporting process, a Syndicator may report a member who fails to pay any amount payable under a Syndicate Agreement within a three month grace period.

We all have a duty to ensure Syndicate Members understand that participation in racehorse ownership brings with it responsibilities that cannot simply be abandoned when circumstances change.

The vast majority of syndicate members fulfil their commitments and make a valuable contribution to our sport. However, where individuals fail to do so, syndicate managers should not hesitate to use the processes established by the BHA. A robust and effective Forfeit List helps protect responsible owners, supports syndicate managers, and ultimately safeguards the welfare of the horses.

Dan Abraham, RSA Chairman