General Medrano is an eight-year-old bay gelding by Ocovango. Ocovango's best progeny includes Grade 3 winner and Cheltenham Festival runner-up Langer Dan and the Grade 1-placed Champ Kiely.
General Medrano enjoyed an excellent season in 2024/25, the highlight being an impressive win at Newbury at the end of November. He also ran well to finish second in a competitive handicap at Doncaster in January. He had excuses at both Cheltenham and Aintree, and has enjoyed a good break since. He's likely to follow a similar route this season.
General Medrano is in training with Emma Lavelle at her Bonita Racing Stables near Marlborough in Wiltshire. Emma has enjoyed plenty of success at the highest level, particularly with Paisley Park. Emma has achieved a number of successes for Owners Group with the likes of Manorbank, Wouldubewell, and Kit's Coty.
General Medrano has a current British Horseracing Authority (BHA) Jumps (Chase) rating of 140 (the average rating is 106).
This syndicate term lasts until 1 September 2026, with no commitment to continue at the end of the syndicate period. Please click here for full details of the end of term process.
This syndicate is divided into 2,750 shares and each share costs £40 (including VAT). View price transparency. There will be nothing extra to pay, no matter what costs are incurred during the syndicate period. The syndicate is subject to the usual 'Elite Syndicates' terms and conditions. The current maximum number of shares that can be purchased by one person is 10. There are no partners or others sharing this horse and therefore 2,750 shares represents 100% of the ownership of the horse.
- The share price is £40. The full price breakdown is:
- The capital value of General Medrano is £30,000 which works out as £10.91 per share.
- Our management and service provision fee is set at £10.00 per share.
- The all-inclusive keep/racing/training/vetting cost is set at £11.02 per share.
- The cost for mortality insurance (covered for £30,000) is £0.95 per share.
- The racehorse rehabilitation contribution is £0.45 per share.
- The VAT is £6.67 per share.
- There will be nothing extra to pay for the syndicate period, no matter what costs are incurred.
Given the large sums of money generated by the sale of one syndicated horse, it is important that owners understand how the price of each share is broken down. In addition, we openly publish the full terms and conditions governing each purchase, in plain language, on our public website pages. Each Elite Syndicates share is genuine racehorse ownership and not a cleverly disguised leasing arrangement or similar, where you don't own any part of the horse.
We have divided this syndicate into 2,750 shares, with a syndicate term period ending 1 September 2026.
There are no partners or others sharing this horse and therefore 2,750 shares represent 100% of the ownership of the horse and 100% of race prize money received from Weatherbys is divided equally with no deductions other than those referenced in term xlix.
The capital value of General Medrano is £30,000, which works out at £10.91 per share.
The all-inclusive payment for entering and participating in races/training/keep/vet/farrier/etc throughout the syndicate period works out at £11.02 per share for this horse and is not contingent upon any other costs arising. Therefore, where the actual costs incurred are greater than the amount charged, the company stands the difference and where less, the company retains the difference. This policy means that we don't have to add any additional contingency fees and gives our customers peace of mind that there will be no additional costs.
The cost of mortality insurance for this horse is £2,614.08 (covered for £30,000), which works out at £0.95 per share.
Our combined management and service provision fee works out at £10.00 for each of the 2,750 shares. This fee includes, but is not limited to, our administrative costs, staffing (the company has 40 members of staff), video production, race footage payments to Racing TV and Sky Sports Racing, monthly magazine production, postage and packing (if applicable), prize money distribution, information technology, VAT refund administration.
Once a racehorse retires from racing, and the syndicate period ends, the responsibility for all costs arising (which can continue for several years) passes to the company but is helped by the pooled 'racehorse rehabilitation contribution' which was set at £1,250 per horse, per annum, which works out at £0.45 per share. Should any surplus funds arise, they will be retained for the sole purpose of racehorse rehabilitation.
As a commercial syndicate, our business is required by law to pass 20% (the current rate of VAT) of the sum you pay for a share, to HMRC. VAT legislation cannot be avoided and rather than conceal this sum to gain a trading advantage by making it appear that you are not paying VAT, it is transparently and legally specified in our price breakdown. However, because Elite Syndicates is real racehorse ownership, we can submit a reclaim for this sum from HMRC on your behalf (if owners provide their National Insurance number), via the VAT Registration Scheme for Racehorse Owners (see Terms & Conditions). Therefore, for example, if you pay £60 for a share and HMRC successfully refunds the VAT of £10, it means that the share would cost you only £50. We make no deductions from the 20% refund, as it is part of our service provision.
The VAT for the General Medrano syndicate works out at £6.67 per share.
To summarise (cost per share)
- Capital value - £10.91 per share.
- Management and service provision fee - £10.00 per share.
- All-inclusive racing/training/keep/vetting cost - £11.02 per share.
- Mortality insurance - £0.95 per share.
- Racehorse rehabilitation contribution - £0.45 per share.
- VAT - £6.67 per share.