forum.sports-pro.co.uk

rapidlateheadway · Posted: Fri Aug 11, 2006 10:22 am Post subject:

Okay, I fully understand what you are saying.

One share is all i`m interested in at the minute. I maybe wrong but I feel Toastie would be thinking the same.

The main point here is we have 19 people interested, with Glennie`s estimated up take of 27/40 shares. This is very good. I`ve got someone in mind to take a share and Mr Toast has also got somebody in mind. I feel out of the 19 people IF, and only IF, we could each persuade a mate,partner,spouse etc to take a share each this would give us 38 members. I know it may not be possible for everyone to bring someone to the party, but only then should we offer extra shares to the original 19. At that point I`m prepared to review my own position.

I know i`m looking for Utopia getting 40 members with a 2.5% shareholding each, But theres nothing wrong with looking for perfection, IS THERE ??????

I also feel there is enough interest and if we get to having a meeting with 20+ members and we`ve got the extra shares up our sleeve, we should be very well placed to proceed.

Rapid

kickingkyle · Posted: Fri Aug 11, 2006 10:50 am Post subject:

I dont have a problem with anyone having more shares. I think its better that way as it causes less problems with admin etc.
_________________
Wolves winner 20.1.08

rapidlateheadway · Posted: Fri Aug 11, 2006 11:11 am Post subject:

KK. I personally dont see an advantage having more than one share, but if others do then they are welcome to them. It just increases the outlay for a start and increases the monthly fees. The only plus I can see is the increased share of prize money

and I`m not going to get excited about that.
All these issues will come out in the wash I`m sure.

Rapid

glennie1970 · Posted: Sat Aug 12, 2006 9:34 am Post subject:

Rapid have reduced you and Toastie down to one share from my original thread which I update as and when.This is now moved here;

Update on all interested members (Iwill edit this post as and when we get new people or number of shares are confirmed)

Jennywales 2 shares
Costafox 2 shares
Rapidlateheadway 1 shares
Yaiyam 2 shares
Rathven Toast 1 shares
Sky of Darkness 4 shares

Mansfield Toon 1 share
Newseeker 1 share
Skanky 1 share
Jairducochet 1 share
Golfswing 1 share
Chewster 1 share
NoDough 1 share
Glennie 1 share
Harchiefan 1 share
Pickles 1 share

Jejquade 1 share
Dom 1 share
Nick1176 1 share
Blueboy 1 share
Shamardal 1 share
Bobby W 1 share
Westmeadhawk 1 share

this accounts for 29 of the 40 shares. I have listed everyone who has shown an interest and tried to gauge how many shares they will likely have. It would be useful to know if people are looking for more or less shares based upon Jennys £250 up front fee per share and £35 a month per share quotes.

Some people have mentioned a share for a spouse or partner or friend. Can they check this out and report back here if anymore shares can be taken.

shamardal84 · Posted: Sat Aug 12, 2006 9:38 pm Post subject:

Well, Im willing to go in for 1 share, but I cant really tell how much a share is gonna be? ive read ths thread through and through and im wondering approx how much a share will cost a year? I can probably go up to about £1000 a year, but id prefer it to be nearer the £500 mark

shamardal84 · Posted: Sat Aug 12, 2006 9:39 pm Post subject:

Oh wait, £670 a year for a share! ive worked it out now, sorry, took me a while. Sounds good

glennie1970 · Posted: Sun Aug 13, 2006 8:58 am Post subject:

rapidlateheadway · Posted: Mon Aug 14, 2006 8:43 am Post subject:

Glennie,

I`ll know more about my friends interest later this week. Toastie will be out of hospital today and I`m sure he`ll be on line to voice his own views on the matter.

B.R.
Rapid

jennywales · Posted: Mon Aug 14, 2006 11:49 am Post subject:

For information: please could everyone read the Trainer thread, where I report on information received from Kim Bailey. In summary, he suggests that £20,000 a year (£1,666 per month, £41.65 per month per share) is a realistic amount for training fees, and this DOES NOT include vet fees of any sort (sent direct to syndicate manager), colours, jockey fees, entries, insurance, and Weatherby's registration fee.

Again to summarise, I have asked how people feel about £45 per share monthly contribution. In addition, I have asked how people feel about a 50%/75% stake, with the remaining shares held by the trainer.

At the moment we have 28 potential shares taken up, which is NOT ENOUGH! on the basis that 40 shares will produce the £10,000 purchase price (£250 up front) plus £34.37 per month training fee contribution per share. Which on Bailey's figures will not anyway be enough.

I want to discuss face to face with Richard Lee what his all-in fee includes (if it is genuinely all-in, then we are OK on £250/£34.37, but need 12 more shareholders assuming one share each).

Oh dear!

Thoughts, please.

rapidlateheadway · Posted: Mon Aug 14, 2006 12:06 pm Post subject:

I`ve posted on the trainer thread that we should have £250 for the purchase and a £100 call up fee(which can be called up when required by the finance DIRECTOR

). This will give us a cushion should we need it.

Rapid

jennywales · Posted: Mon Aug 14, 2006 12:15 pm Post subject:

Thanks Rapid - I was so keen to get the info from Bailey out I put it in the wrong place!

£350 up front then - but what about subsequent years? We can't assume that the £4,000 would remain untouched. Might cover us for a couple of years with luck, but need to think about this.

glennie1970 · Posted: Mon Aug 14, 2006 12:27 pm Post subject:

I am okay with 350 up front but don't want to go above £50 if I can help it.

My wife has told me I have to pay for this out of my own money..but I give all my money to her..lol

Anyway's please note my wish to keep it at £50 or under per month...after all this is a long term commitment.

May I ask what will happen if 8 months down the line someone wishes to drop out of the syndicate?

do we have to buy them out or something else?

Sky_Of_Darkness · Posted: Mon Aug 14, 2006 12:31 pm Post subject:

I would suggest that the initial purchase amount is non-refundable and if someone wants to / is forced to drop out, then they will be responsible for finding a replacement, unless someone within the syndicate already has someone in mind. Obviously we'd all try and help out.

As for the monthly costs, I think also that 3 months notice should be given, so that we're not suddenly short of funds. The way to do this would be maybe to ask for 3-months in advance when we set up the syndicate.

Just some ideas, but I guess this'll be a main question at our 1st meeting.

rapidlateheadway · Posted: Mon Aug 14, 2006 12:52 pm Post subject:

I think you are right Sky. All these sort of things must be built in before we start. We certainly dont want to be left high and dry because someone has pulled out.