Dynamic Syndications Press Release: 12:30pm Monday 5/10/20
One of the problems of
owning a rising star of the turf is agents representing cashed up principals try to buy them from you, for massive amounts.
This is a conundrum, especially here in Sydney, where
tax free record prizemoney is available for owners.
With so many yearlings being sold for well over the $1 million mark statistically, there is a minimal chance of those yearlings even winning a bush race. So, when a genuine high-class male is exposed, the market goes into a
feeding frenzy.
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LOVE TAP - light on his feet
LOVE TAP –
Dynamic Syndications 3yo gelding by Champion USA Based Sire
TAPIT from the mare
SMOKEY’S LOVE (by Forestry), a half-brother to
Gr1 Winner FIGHTING MAD had been of interest to astute agents after his first, second and then third wins in country races.
However, his
brilliant win last start in the Gr3 Gloaming Stakes over 1800m at Rosehill where he ran the second fastest Gloaming Stakes in the history of the race and did so eased down, and the fact he was a very short
$2.20 favourite before nominations for the Gr1 Spring Champion Stakes at 2000m, has seen an explosion of interest from overseas.
“Over the past few days Dynamic Syndications have been fielding plenty of inquiries as to whether the horse can be purchased” said Dean Watt of Dynamic Syndications.
LOVE TAP in full flight
“A significant offer well beyond our own expectations was received in writing which was formally put forward to the owners to vote upon and unsurprisingly, it was unanimously rejected by the owners.” Watt said.
Racing is about dreams and our owners are on a fantastic ride.
He is
undefeated after four starts and is pre-market favourite for the Spring Champion that carries
$580,000 to the winner. He also holds nominations into the
Cox Plate ($3 million to the winner) and the
VRC Derby ($1.2 million to the winner). His next 3 starts are at set weights so the Handicapper can’t get at him.
How he performs in the Spring Champion will dictate which way we head, either to
Melbourne or to the
spelling paddock.
These are just his Spring 3yo race plans. Then of course he is eligible for the
Magic Millions Race Series where the
$1m Magic Millions Stayers Cup looks ideal for him over many years to come, plus as a 3yo in the Autumn and Winter there are races like the
ATC and QLD Derbies.
His potential earnings are mammoth and also
tax free, so its little wonder
100% of our owners voted not to sell.
LOVE TAP - Pre-race Parade
“We paid just $110,000 for him at the Magic Millions and has already won $143,000 so basically he is a free horse to his owners for the rest of his racing career.” Watt added.
When these mega multi-million dollar offers come in, they sound tempting initially, and if you owned the horse outright or in a small group you may be tempted.
However, when you drill down, after
Agents and Trainers Commissions + GST on those commissions, and then Capital Gains Tax and then you divide the balance by
20 Owners, while it’s certainly a nice profit, and it’s a lot of money, but for most co-owners it’s not life changing.
And if you took the money and re-invested, there is minimal chance for what you would spend, that you would find another horse that is that good as what they already own.
Adam, Richard, Fiona, Dean - Dynamic Team
Our owners are following their dreams of enjoying the fun, glamour and excitement within the sport of racing and the notoriety of owning such a high-class racehorse that is developing a cult-hero status.
Our loyal team of owners made
an investment in a lifestyle product that has given them
enormous satisfaction to date.
Long may the ride continue.
NASH RAWILLER & LOVE TAP
As for
LOVE TAP, trainer Richard Freedman and jockey Nash Rawiller can’t be anymore excited about his prospects than they are already are. Our horse is flying at trackwork and he is at his perfect weight and his blood profile is brilliant.
We are looking forward to testing LOVE TAP against his peers in the Spring Champion!