Backed and developed by SportCaller founders, Stride, a new syndicate platform for buying and selling shares in elite-level racehorses, was launched on Tuesday. Stride will purchase unraced yearlings and 2-year-old breeze-up horses in a price bracket from €25,000 – €150,000 ($24,759 – $148,554) and will sell shares in syndicates of between two and six horses. The intention is to sell within 12 months of purchase and for profits to be returned to owners.
While there are no fixed amounts for syndicate investment, a 5% investment in one syndicate would usually range from €5,000 to €50,000 ($4,948 to $49,482). The price you pay for your share in the syndicate is the only fee members pay, the platform noted.
Cillian Barry and Eugene Cosgrove, founders of SportCaller, are the Chairman and Head of Product, respectively, while veteran COO Donal Browne will handle the day-to-day business operations for a venture whose horses will initially be placed with trainer Joseph O’Brien. Stride’s CEO is former Munster and Leicester rugby star Johne Murphy, who has operated Rugby & Racing and Thoroughbred Racing Syndicates, the latter also attached to the O’Brien yard.
“Stride plans to become the premier racing communications platform that both centralizes and optimizes communications between syndicate owners and their respective horses, trainers, stable support staff, jockeys, and racecourses. Its aim is to support, illuminate and enrich the experience of owning a thoroughbred on the journey from the purchase ring to the winner’s enclosure,” the representatives said.
— STRIDE (@StrideRacin) October 20, 2022
“The Stride team brings together a host of familiar faces and heavy hitters from the domains of sport, racing, betting, and fan-engagement technology for a clearer take on fractional ownership that delivers increased engagement against the backdrop of a progressively homogenized digital-management landscape for horse racing,” the founders further explained.
As a case in point, the business sold five of the six horses which were bought to race on the Flat in 2021 for close to seven figures, giving backers a 27% return on their investment, the company noted. Stride is also part of the Techstars Sports Accelerator, a global network that assists entrepreneurial ventures.
— STRIDE (@StrideRacin) October 30, 2022
Murphy commented: “Stride is more than a responsive platform for buying and selling shares in elite-level racehorses. It’s also a way for racing to reconnect, engage and retain its most vital stakeholders: passionate owners who support the sport through times good and bad.”
According to him, the fractional ownership model “readily articulates the merits of micro-ownership and its associated cautionary tales,” and also enables members to choose a portfolio of racehorses that “elevates enjoyment and mitigates downside” at a challenging economic time across most sectors.
“Investors can now research, buy, manage and watch their stable of syndicated thoroughbreds at a fraction of traditional ownership spends, with zero hidden costs or clawbacks. The price you pay for your share in the syndicate is the sole fee you’ll ever be asked for,” he highlighted.
Johne Murphy
“Our unique Stride platform and its underpinning technology are also here to help owners seamlessly experience racehorse ownership at the click of a button, wherever their busy lives take them on the map. That can mean anything from what you’d expect in the simple joys of sharing the risk with friends and enjoying the race day thrills and spills; to what you might not in the form of enhanced stable-engagement tools, or regular re-evaluations for profitable resale opportunities,” he added.
“Stable visits and racecourse privileges are par for the course, alongside the clubbable craic with your family, mates, and members. But it’s a long time between drinks in racing! And in racehorse ownership, there should be so much more to enjoy, evaluate and benefit from experientially and analytically. Stride is the fluctuating portfolio you won’t want to put down – and the one your friends and colleagues actually want to hear about,” Murphy concluded.
