MyRacehorse set to make its mark in Australia

Cover image courtesy of Bronwen Healy

Written by Bren O'Brien

MyRacehorse, which celebrated a famous G1 Kentucky Derby success with Authentic (USA) (Into Mischief {USA}) in 2020, has become the latest player to enter the micro-ownership space in Australia with five racehorses made available to purchase.

Micro-ownership has become increasingly popular in the global thoroughbred industry in recent years, with the model creating affordable micro-shares of as little as 0.01 per cent, allowing greater access to racehorses sourced at a premium price.

The model has gained particular traction in Australia, which has one of the highest rates of racehorse ownership in the world, spearheaded by local outfit MiRunners, which has evolved the concept to also include MiEverest and The Racing League.

That MyRacehorse has become the first international micro-ownership company to enter the Australian space is far from surprising, given the success it had through the Kentucky Derby and Breeders' Cup heroics of Authentic.

MyRacehorse, first set up in 2018, purchased a 12.5 per cent share of Authentic after he finished runner-up in the G1 Santa Anita Derby in June last year and subsequently sold 12,500 micro-shares of 0.01 per cent at US$206 (AU$268).

When the colt saluted in the famous 'Run For The Roses' at Churchill Downs in a delayed Derby run in September, over 5000 owners celebrated the success, including several based in Australia.

The son of Into Mischief (USA) would go on to claim the G1 Breeders' Cup Classic in November before embarking on a stud career at Spendthrift Farm in Kentucky.

Authentic's success bought global prominence to the micro-ownership concept, and Founder and CEO Michael Behrens has wasted no time looking to establish a presence in Australia. Via Spendthrift Australia's top-end bloodstock purchases, MyRacehorse will give the everyday Australian access to well-related commercial prospects in training with some of Australia’s leading trainers: Hawkes Racing, Mark Newnham, Tony and Calvin McEvoy and Bjorn Baker.

Their business model differs from others in the market, by having only one set fee and no ongoing costs thereafter.

“The quality of horse racing in Australia is world class and we’re excited to be launching MyRacehorse Down Under as we commence our global expansion,” Behrens said.

“We believe that however you enjoy racing, by having a vested interest in an elite racehorse or racing prospect exponentially increases the enjoyment of the sport. It also makes it incredibly easy to share with friends and family.

"We anticipate MyRacehorse micro-shares to be a real catalyst in increasing engagement with existing fans and attracting new fans through the mass accessibility of one of the greatest thrills in sport, owning an elite racehorse.

"I wanted more people to enjoy racing, and it became increasingly obvious that low-cost ownership that enabled fans to compete at the highest level was the best way to accomplish that goal.”

Owners, who pay no ongoing fees, receive a proportionate share of any prizemoney and/or sale proceeds from their horse, with all the usual perks of racehorse ownership in terms of access to regular updates from trainers, analysts, etc., as well as access to exclusive events with other owners and access to the raceday experience. MyRacehorse helps facilitate this through a mobile app.

Fastnet filly ready to race for Baker

Among the five horses which are part of the immediate offering in Australia is the 2-year-old filly Rock Chant (Fastnet Rock), who was purchased for $300,000 by Spendthrift Australia at the 2020 Magic Millions Gold Coast Yearling Sale and is currently in work with Bjorn Baker.

“I’m excited to be partnering with MyRacehorse and continuing to train Australia’s top racehorses under a new ownership model. I’ve spent the first half of 2021 training Rock Chant, who’s already impressing at trackwork. I’m looking forward to seeing her get to the races in the coming months,” Baker said in a statement.

As an example of the pricing structure, micro-shares in Rock Chant, who is out of Aaralyn (Choisir), making her a three-quarter sister to Group 1 winner Amicus (Fastnet Rock), are being offered at $70 apiece. That is the only fee paid for the lifetime of the horse's racing career.

MyRacehorse is also offering shares in Inclement, the Frosted (USA) 2-year-old half-sister to multiple Group 1 winner Santa Ana Lane (Lope De Vega {Ire}), who cost Spendthrift Australia $650,000 as a yearling, for $140 a share. She is in training with Team Hawkes.

Also featuring is the $1.2 million colt by Written Tycoon out of Taqaseem (Medaglia D'Oro {USA}) purchased by Spendthrift Australia at this year's Magic Millions Gold Coast Yearling Sale, whose microshare price is $220 and will also be trained by Team Hawkes.

Newnham will train the Redoute's Choice colt out of the Group 1 winner Once Were Wild (Johannesburg {USA}), which Spendthrift Australia purchased for $340,000 at the Magic Millions Gold Coast Yearling Sale. His micro-share price is $90 per 0.01 per cent.

At this stage, all four horses listed will be co-owned with Spendthrift, which has worked closely with MyRacehorse in the United States, including with Authentic.

MyRacehorse also has engaged media personality Jason Richardson as an ambassador.

“The more owners involved in racing, the greater the sport becomes. MyRacehorse gives fans a chance be involved in runners with elite pedigrees for a small, one-off cost,” said Richardson.