How much does it cost to buy and train a racehorse?

Of course, racehorses can be bought during their racing careers at a ‘horses in training’ sale, such as one of those held by Tattersalls, the leading bloodstock auctioneer in Europe, or privately. More often than not, though, racehorses are bought as yearlings or two-year-olds – that is, completely unknown quantities, in terms of racing ability – at public auction. Indeed, the highest price ever paid for a Thoroughbred in that sphere was $16 million, according to Guiness World Records.

It is not by coincidence that horse racing is known as the ‘Sport of Kings’ and buying a Throughbed racehorse can cost anything from a few thousand to millions of pounds, depending on its pedigree, conformation and, if known, ability. In Britain, purchase prices of £10,000, £15,000, £20,000 or more are not uncommon.

The purchase price may the chief expense associated with owning a racehorse, but the cost of basic training and stabling fees, veterinary fees, travelling expenses and so on can soon mount up. Depending on the discipline in which it competes, the annual cost of keeping a horse in training typically ranges from approximately £17,000 to approximately £30,000 on average.

Sole ownership is beyond the means to many people, so to migitate the prohibitive cost to the individual many racehorses run the the name of a company, partnership, syndicate or racing club. At the time of writing, Middleham Park Racing, for example, is offerin a 1.25% share in an unnamed yearling by Dark Angel of £1,337.50 upfront and £48.75 per month.