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The Brampton Guardian
It makes plenty of horse sense
The Brampton Guardian
By FRANK JUZENAS
 
BRAMPTON - Thoroughbred racing has been called the Sport of Kings for good reason.
The financial considerations are far beyond the means of most people. However, Brampton’s David Godin is hoping to make the sport a lot more accessible to those who have dreamed of getting involved but don’t have the means to be a full owner.
His new company United Thoroughbreds is putting together a syndicate to purchase a yearling early in September. With 25 shares in total an individual can purchase a piece of the horse for a total of about $5,000 over a two-year period.
“Syndicates are popular in the U.K and the U.S.,’’ said Godin, a 27-year old father of two, with a life-long love for horse racing.
While there are some syndicates in Canada they have generally limited who could get in and the financial outlay has still been considerable.
Godin is willing to talk to anyone in the public whether they have experience in the industry to discuss his proposal. Those who purchase a share will be required to put in an initial fee of $1,000 and then pay $160 per month (plus taxes) for a minimum of two years.
For that fee the share holder will be like Frank Stronach or Eugene Melynk the owner of a horse that will race at Woodbine, although with fewer dollars invested.
“There is nothing like owning a race horse,’’ said Godin, who has worked for a horse breeder in the past. He now has another full-time job and like most of those who will purchase shares will keep working.
“This is not a way to get rich quick,’’ said Godin, who advises you not get involved unless you can afford to lose money.
He will have the services of a professional breeder to assist in making the purchase of the yearling at the sale at Woodbine in September. While it might be even a couple of years before the horse will race, he cautions horse racing is risky and there is a chance that the horse might never race.
In the event the worst happens and the horse is found not suitable to race there is one thing that will not happen.
“I’ve made it clear that the horse will never go to an auction for slaughter,’’ said Godin, who said while he was younger he dreamed of being a jockey but at 5-foot-6 and 120 pounds grew too big.
He loves horses and has committed to putting one per cent of the profits to the Long Run, a retirement facility for thoroughbreds.
As the founder of United Thoroughbreds, Godin said the company will purchase at least one share in each syndicate so that the owners know he has a stake in the success of the horse.
The owners will have input into the purchase of the horse and Godin will attempt to satisfy the majority of shareholders when any decisions have to be but will also get advice from professionals in the industry. The company will take a 5 per cent management fee off any winnings but also promises to provide full financial reports to all the owners.
The only publicity Godin has received to date was a mention in a blog by free lance journalist Jennifer Morrison and he said five shares have already been sold in the first syndicate, mainly to those who have previous ownership experience and wish to be involved on a smaller basis.
He said there have also been inquiries from those who rather than buying a yearling would prefer to purchase an already racing horse through a claiming race and Godin is considering a second syndicate.
He expects a number of professionals, such as doctors or lawyers might be interested in joining the syndicate. Godin also says there are tax advantages available to business owners who could write off a portion of any losses from ownership of the horse.
Of course those who invest in the horse are hoping to achieve success. They would like to find a horse like Funny Cide, a yearling purchased for $22,000 in 2001 (when the average cost was $43,000), by a group which included a couple of auto workers, and then went on to win the 2003 Kentucky Derby and Preakness Stakes.
To find out more information go the website www.unitedthoroughbreds.com or contact Godin at 416-859-9143 or at david@unitedthoroughbreds.com.