Management
Lucky Clover Thoroughbreds (LCT) will remain the Managing Owner of all horses in which they hold a controlling interest.
Purchase Price
The purchase price includes, but is not limited to, the following costs (inclusive of GST).
- Initial purchase price
- Veterinary scoping
- Race series nominations
- X-rays
- Bloodstock agent fees
- Freight
- Breaking-in costs
- Ordinary veterinary procedures
- Agistment
Ongoing Fees
From 1 September 2026, the fee will revert to LCT’s standard monthly rate, currently $55 per 1% ownership interest. This rate is reviewed annually.
Monthly fees cover all costs associated with training and agistment during the horse’s racing career, excluding:
- Feature race nomination and entry fees
- Extraordinary or non-routine veterinary expenses
A one off $15 syndicate fee will be applied annually to any members belonging to a Lucky Clover Thoroughbreds managed syndicate
Insurance
Insurance is included in the purchase price and provides 12 months cover from the fall of the hammer, insured to the auction purchase price excluding GST.
After this date, insurance becomes the responsibility of the shareholder.
Payment Terms
- All invoices issued by LCT are payable within 15 days of issue.
- LCT reserves the right to apply:
- A 5% late payment fee on overdue invoices
- A $10 administration fee for incorrectly referenced payments
- Monthly fee invoices are issued on the 1st of each month.
- An Activity Statement for each owner’s account is issued on or around the 20th of each month.
- Default on Payments If a co‑owner or shareholder falls into arrears exceeding one month of fees relating to the horse ownership venture, the Managing Owner reserves the right to withhold any forthcoming prizemoney earned by the horse. Such prizemoney may be applied toward outstanding amounts to ensure the continued maintenance, training, and welfare of the horse, and to safeguard the interests of the entire ownership group.
Named Ownership
- A minimum 5% ownership interest guarantees individual named ownership.
- Ownership interests below 5% may require inclusion in an LCT-managed syndicate.
- Owners included in an LCT-managed syndicate will incur a $15 syndicate fee.
Sale of Shares
Any owner wishing to sell their ownership interest must notify the Managing Owner (LCT).
LCT will endeavour to assist with the sale; however, LCT is not responsible for:
- The successful sale of the interest
- Any fees or costs associated with the sale
Ownership Rights
- All owners will be registered in compliance with Australian Rules of Racing, .
- Each owner will have voting rights proportional to their ownership percentage on matters relating to the horse, including but not limited to:
- Sale of the horse
- Veterinary procedures
- Change of trainer
- Decisions affecting the horse’s ongoing racing career
Governing Rules
Ownership rights, interests, obligations and responsibilities are governed by the Australian Rules of Racing, as amended from time to time, together with the Co-Owners Agreement . All owners are bound by the terms of both documents and any amendments made in accordance with their provisions.
