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   Stallion SharesHistorically, stallions were predominantly syndicated, generally with forty shares available, with bonus shares being gifted to the lucky trainer and jockey. A share entitled the owner to either send one of his or her own mares to the stallion, or to sell the entitlement, called a nomination. The market started to change in the early 1980s when the Sangster/O'Brien/Magnier team, backed by rich investors, bought stallions outright. Stallion shares are a rare commodity these days, with stallion stations such as Coolmore, Darley, Cheveley Park and Banstead Manor owning most of the stallions. Syndicated stallions do exist in the UK - Motivator, Araafa and Pastoral Pursuits are three recent examples - but stallion shares with a suitable investment profile are difficult to source. The opportunities globally are somewhat greater, and Breeding Capital 2008 owns a share in a stallion in the USA. |