Letters | Hong Kong Jockey Club could get off its high horse with fractional ownership

Readers discuss how to revive interest in horse racing, reasons for the rising divorce rate, and an office fit for a former leader

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A horse race at Sha Tin on April 20. The fractional horse ownership or investment model has been in robust operation in Japan, Australia, the United Kingdom and the United States, and could be considered for Hong Kong. Photo: Kenneth Chan.

Published: 11:30am, 23 Apr 2024

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I am writing in response to the report, “Jockey Club to invest HK$140 million in lowering the cost of horse ownership” (April 11). I applaud the effort the Hong Kong Jockey Club has put into attracting interest in horse-owning in the city, in an attempt to revive interest in the sport among the younger generation. Seeing how the sport with centuries of heritage has diminished in popularity saddens me as an enthusiast.

I would like to propose fractional horse ownership as a viable means of encouraging horse ownership in Hong Kong, one that is justified from the perspective of both the owner and the club.

The club can open up fractional thoroughbred ownership to the public. The fractional ownership or investment model has been in robust operation in Japan, Australia, the United Kingdom and the United States. By dividing the ownership of a horse into 20-4,000 shares, the experience can be made very affordable and invite interest from the general public, increasing the public relevance of the club and the sport.

Being a fractional owner of three British racehorses, I can personally attest that the investment is profitable, and can bring like-minded individuals together, making it a fruitful and enjoyable adventure for young adults who are interested in the sport, with considerably lower costs and risks.

From the perspective of the Jockey Club, I understand the proposition of a fractional horse ownership scheme can be tricky, as it might undermine the current exclusivity of horse ownership. A solution would be to create a tier of Jockey Club membership for fractional owners, who would not share the same privileges and rights as full members or racing members. This would be similar to what the HKJC Priority Card is already doing.