OFF THE RECORD #28

Young owner: “Let’s harness the magic of syndication!”

Youthful entrepreneur, racehorse owner, and betting enthusiast Greg Naidoo from Johannesburg believes that potential new owners across the country are not being effectively reached by racing’s marketers. He advocates for relentless and consistent campaigns to develop the syndication market, describing it as “magic” for engaging vital new blood.

There is a second aspect to the promotion of horse syndication, he opined, that falls short of its target: the process of following through. Once a new prospect is signed up and has paid up for shares, he or she is often left with little or no information on what to do next. Also, on their first visits to the racetrack they are not always treated with the respect and patience they deserve.

Greg said: “The operators and marketers have rightly identified syndication as a way of getting small owners involved. There is talk, but not enough action. More should be done, especially in regards the education of established racing people. They don’t seem to understand that they should be assisting newcomers. It’s an ongoing process and not the sole responsibility of the administrators.

“I’ve taken new groups of young people to the races, including wealthy young guns with Ferrari’s, who are sometimes confronted by unhelpful and even unfriendly and pompous owners and trainers. It’s as if they live in a little exclusive world of their own and they won’t allow access to outsiders. When the industry dangles a carrot, they must ensure it is fully grabbed and eaten.”

Greg’s own journey in horseracing started at age 22, back in 2008. He responded to a syndication offer on a racing website. “I paid a fee and acquired a share of a filly named Cocoa Rose. She was not expensive and ran fairly, won just one race but the syndicate was professionally handled and updated. I had fun. I re-invested for a share of MJ Thriller, a decent sprinter who won five or six races. At the time my big dream was to own a Grade 1 winner. I quietly felt that I would stop owning horses the day that dream came true. What could be better than that?”

Greg bought more shares and had a few more winners between 2012 and 2015, but after an unhappy experience with a trainer he started drifting away from the game. His interest was rekindled in 2016 by owner and breeder Vasan Harry whose mare, La Volta, is a prolific producer of winners. They raced La Volta’s son Ace of Speed and daughter Princess Blitz together and then, in 2019, Mr. Harry offered Greg a chance to get involved with their grey yearling named Master Archie (Rafeef).

“At this exact moment in time, Covid rendered us into a total lockdown and racing’s future looked bleak in SA. Everything was in limbo with Master Archie and I took up a small share as a silent partner. I have always been a huge fan of La Volta and out of the kindness of his heart, Mr. Harry felt that I deserved to be involved. It was extremely exciting as it would be my first “grey” to own with an amazing group of owners that I still regard as family. Master Archie won seven of 16 races and earned over R1,2-million. Our most glorious moment came when he won the R1-million 2022 Grade 1 Computaform Sprint at Turfffontein. It was a feeling of pure joy.”

Greg added: “Master Archie has now gone to stud and we look forward to seeing his progeny blaze the turf in coming months. When he finished his career in 2023, I thought to myself, ‘this is it, you’ve had your Grade 1 winner and now he’ll be breeding. Perhaps that’s the end of the road for owning horses. But recently I was offered a small share in a smashing R1-million yearling by Trippi and I took it. In the past I wouldn’t look beyond anything over R300,000 and this is why the Trippi colt appealed to me. His other owners are the Gujadhur family from Mauritius, Central Route Trading and Dayalan Chinsammy. They are big players in the racing game and the association with them makes me proud. I felt that this was the next level of racehorse ownership for me, especially with the associated prestige of both pedigree and partnership.”

Greg is also pleased that the unnamed Trippi colt will be joining James Crawford at Randjesfontein and he said: “James is from a younger generation and the type of individual I’d like to race with. I think it is important that new owners coming into racing are matched with the right trainers so that they are made to feel comfortable and welcome. There are many more individuals like me who will buy shares in horses, but they want to know that they will be truly a part of the whole experience and that they are respected.”

Above: Greg Naidoo (inside right) with Master Archie connections

When Master Archie won the Computaform Sprint, Naidoo said, he invited every friend and supporter he could think of to the track. “They were made a part of the occasion and most got to join the winning procession and the photo. That must have been one of the biggest lead-in parties in the history of local racing. They were allowed into the parade ring and they loved it. It was about the winning feeling and the association with winners, sharing the moment with us.”

Greg believes racehorse ownership and betting go together – the one stimulates the other. Studying form is not as tedious an exercise for young folk as it is deemed to be. “I take my fiancé Yuthika’s kids, Jeev (13) and Neha (12), to the races often. They love the experience and glamour, including selecting winners from the formbook. You’ll be surprised how quickly young people who know nothing about racing understand and then start sifting through the form factors. And they shout as hard as anybody when I have a bet on. Yuthika supports my racing dreams, so it’s become family entertainment, a hobby we all adore.”

Above:  Greg with young racing fans Jeeve and Neeha

Greg runs an IT Software Development business which now employs more than 50 technology professionals. “I was down and out in 2015, with not a penny to my name after a business setback. I recall borrowing R150 from my brother-in-law to start up a company and I am now at the pinnacle of my professional career in creating employment for the technologically aspired youth in SA. It all started with a basic concept and everything fell into place when I seized every opportunity that presented itself to me. In racing too, once newbies take the first step the next ones will follow, but they need ongoing advice and support.”

Above: Greg with Brett Goldsmith and their 'Boxed Trifecta' drink special

With his business and career doing well, Greg is in a position to spend two or three evenings a week at Brett Goldsmith’s Turn ’n Tender restaurant in Midstream. “I discovered that Brett is also literally ‘sick for the game’. I go for a steak or just to visit on Tuesdays, Thursdays, Fridays and some Saturdays and then we have a few punts – on the jumps, the trots, everything. Brett enjoys playing lucky numbers. His favourites are 3, 6 and 7. He plays a straight-line Trifecta with 3, 6 and 7 in most races. One day he caught one that paid R5,000!

“And here’s another good betting story. A while back, I took my sister’s four-year-old daughter to the restaurant and she told Brett how she enjoyed watching the ‘Peppa Pig’ videos. ‘Oh,’ said Brett. ‘In my day we liked the Barney videos, the ones with the little purple dinosaur.’ We started betting and by the end of the day we’d done our loot and needed a final bet to try and get ourselves out of trouble. There was a horse called Barney’s Pride in the second-last race at Turffontein. He was at 20-1 in a small field so Brett and I, having had a few tequilas, decided to go for broke. We had a really big bet and he won, it was the most cash we ever collected!”

He concluded: “Point is, racing has so much to offer young and old. We need more efforts to reach people and bring them to the track. I know it’s been proposed for years, but the talk hasn’t been matched by consistent action. Now more than ever we need concerted, focused efforts to promote ownership. This is not a dead market. I think it is largely untapped!”

Natalie Turner, CEO of the Racehorse Owners Association, echoed Greg's sentiments, emphasizing the importance of syndication and fractional ownership for the future sustainability of horseracing. She highlighted the ROA’s efforts to educate and support new owners through tools like the Owner-Trainer contract template and FAQs. She said that the ROA's Social membership tier has successfully converted fans into owners by breaking down barriers to entry.

“We aim to democratize horseracing ownership, making it more accessible and engaging. This leads to broader participation, mitigates financial risk, expands the fan base, improves horse welfare, builds community, and boosts ancillary services like betting, hospitality, tourism, and media,” said Turner.