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Beware GRV Syndicates
Peter MacLeod Australia (Verified User) Posts 196 Dogs 2 / Races 13 12 Apr 2017 00:13
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Beware current members or potential syndicate members. Before agreeing to become a member of a syndicate in Victoria READ the FINE print(or what little there is of it!) The fine print gives little if any notice or protection to the prospective syndicate member or current ones for that matter. All the fine print does is give licence to the syndicate manager to do whatever (and whenever) he/she likes to do. The fine print says, (including without limitation documents relating to change of ownership). For example, the manager can take a dog out of a syndicate, whenever that manager likes, without any notification to any other syndicate member or members. It's as simple as a few keystrokes in FastTrack and it's done. So make sure that you get a written legal agreement to cover any and all conditions of your agreement, for example: 1. The manager cannot sell, transfer any dog in the syndicate without all syndicate members signing off to that decision. (Regardless of what GRV policy says, get it in the written agreement). 2. The breakdown of all stakes winnings percentages, or at a minimum the GRV split up of the stake money to be written into the agreement, otherwise that can also be stolen from you as well. 3. Get anything that pertains to the syndicate down in writing, otherwise it will come back to bite you. DON'T trust anyone.
Remember, you the syndicate member has no rights, or is not covered in anyway what so ever when it comes to syndicate disputes, according to GRV. (they accept no liability or responsibility howsoever arising from disputes within the syndicate). They don't want to know you.
So remember cover yourselves, as only the syndicate manager has any rights according to GRV policy, by their rules, the manager can steal from you legally. SO BE CAREFUL.
Ryan Vanderwert Australia (Verified User) Posts 5958 Dogs 8 / Races 0 12 Apr 2017 02:04
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are these a special type of GRV syndicate Peter or are you talking about syndicates run by individuals in general where the public buy shares in a racer ?
Peter MacLeod Australia (Verified User) Posts 196 Dogs 2 / Races 13 12 Apr 2017 02:41
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A syndicate of any number of people that want to own a dog together in Victoria. They must form a syndicate controlled by Greyhound Racing Victoria and appoint a syndicate manager to control it.
Ryan Vanderwert Australia (Verified User) Posts 5958 Dogs 8 / Races 0 12 Apr 2017 03:18
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they've been around for a fair while now.......if it's more than one person grv usually want you to make it a syndicate and one person is the manager.....i've been in quite a few of these and haven't had any probs, but I take your point and can see where it can go awry.
I'm in a public one atm and had the biggest thrills in greyhound racing with them. Bloke who runs it........I've never met a more loyal bloke to the sport and his passion to give his syndicate members the racing thrills of a lifetime has never waned from day 1. That really says something about the man in these times. So I'm a fan.
Darren Langley Australia (Verified User) Posts 3160 Dogs 12 / Races 0 12 Apr 2017 03:19
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Peter MacLeod wrote:
A syndicate of any number of people that want to own a dog together in Victoria. They must form a syndicate controlled by Greyhound Racing Victoria and appoint a syndicate manager to control it.
Peter GRV make you nominate a manager other wise it can get messy. Like any group or syndicate you need 1 spokesperson.
It's upto all participants to sort out there own agreements.
All syndicates are run different GRV doesn't want to get in the middle. I don't blame them either.
Peter MacLeod Australia (Verified User) Posts 196 Dogs 2 / Races 13 12 Apr 2017 03:39
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Your lucky Ryan good luck to ylou
Peter MacLeod Australia (Verified User) Posts 196 Dogs 2 / Races 13 12 Apr 2017 03:48
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Darren, you obviously have not read the GRV syndicate rules and again did not read or understand the pitfalls as I wrote them there is no guidance by GRV to advise you to get additional cover, as it says, unless you are careful, you will gear shafted. Each to there own opinion
Ian Bradshaw Australia (Verified User) Posts 251 Dogs 6 / Races 0 12 Apr 2017 06:57
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Darren Langley wrote:
Peter MacLeod wrote:
A syndicate of any number of people that want to own a dog together in Victoria. They must form a syndicate controlled by Greyhound Racing Victoria and appoint a syndicate manager to control it.
Peter GRV make you nominate a manager other wise it can get messy. Like any group or syndicate you need 1 spokesperson.
It's upto all participants to sort out there own agreements.
All syndicates are run different GRV doesn't want to get in the middle. I don't blame them either.
I agree with Darren, the GRV has got better things to do with their time and resources, than try and sort out what they see as "commercial disputes".
It's like most things in life....buyer beware...
Watch out! Your missus might be cleaning out your joint bank accounts, as she prepares to take off with your best mate.
Or the "power of attorney" for your wealthy elderly relative in that nursing home, may be slowly milking his or hers bank account.
Do your homework, and if you feel you can't trust the people you are getting involved with in a syndicate....give it a miss.
CAVEAT EMPTOR
Terry Jordan Australia (Verified User) Posts 6018 Dogs 0 / Races 0 12 Apr 2017 10:50
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Ryan Vanderwert wrote:
they've been around for a fair while now.......if it's more than one person grv usually want you to make it a syndicate and one person is the manager.....i've been in quite a few of these and haven't had any probs, but I take your point and can see where it can go awry.
I'm in a public one atm and had the biggest thrills in greyhound racing with them. Bloke who runs it........I've never met a more loyal bloke to the sport and his passion to give his syndicate members the racing thrills of a lifetime has never waned from day 1. That really says something about the man in these times. So I'm a fan.
Thank-you Ryan: Don't push the Bromance to far mate! Tezzla
Michael Stuart Australia (Verified User) Posts 943 Dogs 97 / Races 1 21 Apr 2017 09:57
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Been involved in a few over the years. Got burnt a couple of times not getting paid prize money.
On the other hand been involved with others that have been run sensational.
Kevin Wright Australia (Verified User) Posts 5708 Dogs 1 / Races 1 04 Nov 2018 21:15
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Just out of interest who has made money from a Greyhound Syndicate...
Jamie Quinlivian Australia (Verified User) Posts 8727 Dogs 10 / Races 0 04 Nov 2018 23:04
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Kevin Wright wrote:
Just out of interest who has made money from a Greyhound Syndicate...
I was in a few that basically covered costs. But that was never the reason for me getting into it. It was the thrill of watching MY dog winning. Then of course I got addicted to the sport, started training my own, made heaps of friends, started winning races, lost heaps of friends, developed an opinion of my own, became despised by participants and administrators, got kicked out, became bitter and twisted, bought shares in a racehorse, got treated like royalty and here we are..... If it wasnt for the greyhound syndicate, I don't know where I'd be today.
Charles W Mizzi Australia (Verified User) Posts 684 Dogs 1 / Races 1 04 Nov 2018 23:23
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Jamie Quinlivian wrote:
Kevin Wright wrote:
Just out of interest who has made money from a Greyhound Syndicate...
I was in a few that basically covered costs. But that was never the reason for me getting into it. It was the thrill of watching MY dog winning. Then of course I got addicted to the sport, started training my own, made heaps of friends, started winning races, lost heaps of friends, developed an opinion of my own, became despised by participants and administrators, got kicked out, became bitter and twisted, bought shares in a racehorse, got treated like royalty and here we are..... If it wasnt for the greyhound syndicate, I don't know where I'd be today.
hahahah Enjoy!
Steve Bennie Australia (Verified User) Posts 697 Dogs 11 / Races 2 05 Nov 2018 00:14
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You can be lucky sometimes so I asked 9 lads at the Maitlnd bowling club about forming a syndicate which we did and holy moly we hit the jackpot, for the next 18 months we had a great time the dogs name was Take The Kitty, he raced in three states and won NSW Greyhound of the year, but I will say this by the time the dog was retired I have never met so many experts in my life. Never again LOL.
Michael Geraghty Australia (Verified User) Posts 4138 Dogs 14 / Races 15 05 Nov 2018 00:32
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Jamie Quinlivian wrote:
Kevin Wright wrote:
Just out of interest who has made money from a Greyhound Syndicate...
I was in a few that basically covered costs. But that was never the reason for me getting into it. It was the thrill of watching MY dog winning. Then of course I got addicted to the sport, started training my own, made heaps of friends, started winning races, lost heaps of friends, developed an opinion of my own, became despised by participants and administrators, got kicked out, became bitter and twisted, bought shares in a racehorse, got treated like royalty and here we are..... If it wasnt for the greyhound syndicate, I don't know where I'd be today.
Jamie Quinlivian Australia (Verified User) Posts 8727 Dogs 10 / Races 0 05 Nov 2018 01:36
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Michael Geraghty wrote:
Jamie Quinlivian wrote:
Kevin Wright wrote:
Just out of interest who has made money from a Greyhound Syndicate...
I was in a few that basically covered costs. But that was never the reason for me getting into it. It was the thrill of watching MY dog winning. Then of course I got addicted to the sport, started training my own, made heaps of friends, started winning races, lost heaps of friends, developed an opinion of my own, became despised by participants and administrators, got kicked out, became bitter and twisted, bought shares in a racehorse, got treated like royalty and here we are..... If it wasnt for the greyhound syndicate, I don't know where I'd be today.
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