Free Lease Exchange for 2009

A free lease exchange – see table - has been set up to put breeders of unsold and bought-in yearlings in contact with prospective owners.

The joint initiative by the Racehorse Owners Association and the Thoroughbred Breeders’ Association is a measure aimed at tackling the issues caused by the significant increase in the numbers of such horses.

Breeders and vendors can offer horses on a free lease to run as two year olds in 2009.

The TBA’s chief executive Louise Kemble explained to her association’s members: “This service is totally free for members, and we encourage you to make an early response to this offer as ROA members are waiting for this information and, naturally, the first yearlings to be offered are likely to reach a larger audience.

“We believe this positive initiative will help to support the breeding industry at a time when the welfare implications of overproduction are uppermost in people’s minds, and the potential damage this can cause to many aspects of the business.”

TBA members can download the registration form for yearlings at Thoroughbred Breeders Association website and it can be emailed to Samantha Knight or faxed to 01638 665621.

ROA Council member Sally Rowley-Williams, who was involved in the setting up of the free lease exchange, said: “This is a initiative by owners and breeders working together to address a current problem within the industry. We’re looking for owners who might be interested in leasing a two-year-old for 2009 without making a capital outlay.

“Owners taking a horse on lease have to be prepared to pay training fees and keep it for one year.”

Advice in drawing up lease agreements can be given by Justin Wadham, of Edmondson Hall (01638 560556), who advises the ROA on a number of legal matters.

In 2009 the aim is to extend the free leasing service to breeders and vendors of National Hunt stores and homebreds.

IMPORTANT TO NOTE

Taking a horse on lease, like buying one, involves significant commitment and should only be undertaken after the same ‘due diligence’ exercises that would normally precede a purchase, such as a ‘pre-lease’ vetting, advice on conformation, value, maturity, readiness for training, etc.

The scheme is restricted to members of the TBA & ROA with British consigned/owned horses.