Eventing is the triathlon of equestrian sports. It is comprised of three discipline tests: Precision (dressage), Obedience (show jumping), and Courage and Fitness (cross country), as well as the connection between horse and rider.
International Three Day Eventing has specific levels of competition under the guidelines of the FEI. They go from one star* competitions for horses just entering International competition to four star****, the highest level of International competition. There are only six four star events in the world: Kentucky, Badminton, Burghly, Adelaide, Luhmhulen, and the Pau Three Day Event) and top International riders try to enter in at least four of these.
Horse ownership syndication is when a group of people come together to purchase shares in a promising horse for an event rider. These shares not only cover the actual cost to buy the horse, but the annual costs needed to maintain the horse. For example, if you are joining a horse ownership syndication which offers 10 shares, then you and 9 other people will own that event horse and help maintain the costs of your event horse on an annual basis. The good news is that all of these costs are usually predetermined, and syndications come in many affordable price ranges!
Apart from the increasing high costs to competing on an international level, Canadian athletes need our help in order to maintain their top competitive presence in the international circuit.
Keep Canada competitive on an International Level
Many national equestrian federations, especially the Germans who won both Team and Individual Gold medals in Hong Kong last year, purchase promising horses and generously support their team riders to enable them to concentrate all their efforts toward team performance at world competitions. Since our riders don’t receive government or lottery funding to subsidize their pursuits, they must find horses and owners independently. They rely on the generosity of those with a passion for the sport to secure a shot at a gold medal.
Athletes need our Help
Our riders need help. No matter how driven and gifted they may be, many young professionals are unable to finance their upper-level pursuits and are eventually forced to sell their one promising horse before they can make it on to a team.
Experience the thrill of International Competition as an Owner
Eventing is a unique sport that naturally creates a special connection between riders at all levels of competition. Imagine the excitement of preparing for and attending the Pan Am Games in Guadalajara, Mexico or the Olympic Games in London with your own horse. It is truly amazing to participate in and witness the entire process of winning Olympic and other international medals from the inside as part of a great team.
Owners access to International Competitions in which your syndicated horse is competing in. In the 2011-2012 Season this includes:
• The Pan American Games in Guadalajara, Mexico, October 2011
• Royal Winter Fair Invitational Eventing Night, November 2011
• 2012 Olympic Games in London England, July 2012
• Kentucky, Badminton, Burghly, Adelaide, Luhmhulen, and the Pau Three Day Event
• Additionally Selena and her several prospects will attend weekly competitions throughout Eastern Canada, North East USA, Florida and the Southern States
What Does Syndication Cost?
The shared costs for owning and maintaining an event horse can vary greatly. Depending on the level of competition, maintenance of an Eventing horse can cost from $45,000 to $75,000 a year to compete in North America. This includes travel, accommodation and related expenses. The total cost to the owners of the current mount, incorporating all expenses to represent Canada in 2009 was between $65,000 and $70,000.
If your goal is to help an emerging rider with a promising future find a young horse, the syndication costs would be notably less than if you opted to help an elite rider obtain a new 3* horse aiming for the next Olympics. In some cases, riders may already own their horses but have no financial means to continue to campaign them. In these cases, some riders may opt to sell a portion of their horse in exchange for annual maintenance support—enabling them to continue with training and competing.
Buy In: This is the one-time amount you pay to purchase your share of the horse.
Annual Maintenance: This is the annual cost you contribute to keep your horse going.
The Annual Maintenance cost helps cover yearly lessons and training, competition entry costs, monthly boarding, shoeing, equipment, tack, veterinary care, insurance, trailering, and shipping to international destinations. This cost will vary based on the competition level of the horse and rider, but generally range from $20,000 to $70,000 annually. This cost is split equally among the syndication members(it would cost a syndicate member $2,000 a year for a horse requiring a $20,000 annual maintenance fee split among 10 owners). It is important to note that a horse climbing up the ranks will incur additional annual expenses once it reaches the international level.
As a syndicate horse owner, you may enjoy tax benefits under the Horse Maintenance Program. Follow the link below for a detailed overview of tax benefits for Canadian horse syndicates:
How do you qualify for the Horse Maintenance Program?
The Horse Maintenance Program is designed to issue an official receipt for income tax purposes corresponding to the out-of-pocket expenses incurred in maintaining a team horse. The top 20 horses qualifying for the program are identified by their respective disciplines on an annual basis.
Who is eligible for a donation receipt under the Horse Maintenance Program?
The owner, or the one who paid the actual expenses, is eligible for a donation receipt corresponding to the out-of-pocket expenses incurred in maintaining and competing a team horse. In accordance with the directive from CRA, eligible expenses will be restricted to out-of-pocket expenses that are required over-and-above the costs of the horse’s ordinary maintenance; predetermined at $2,000 per horse, will be deducted from the expenses submitted.
Can multiply owners or payers of expenses of the same horse qualify for the Horse Maintenance Program?
Yes. If more than one individual incurs expenses on the horse, a donation receipt will be issued to each individual based on the amount each person expended in maintaining the said horse supported by receipts. Donation receipts can only be issued to the individual or entity invoiced unless there is sufficient evidence (i.e. a cancelled cheque) that another person paid the invoice. Donation receipts for syndicated horses will be split amongst the syndicate members unless receipts otherwise support the request.
What type of expenditures are acceptable under the Horse Maintenance Program?
Maintenance expenses fall into the following general categories as they relate to the horse:
Board, Farrier, Veterinarian, Horse transport, Show entries, Training, Horse insurance, Other such as: Competition related travel, food and accommodation, Horse passports and license fee, Membership and sport license fees, Minor repairs to equipment.