FREQUENTLY ASKED QUESTIONS (FAQ)

LIBERTY RACING is an owners' association of horse racing fans dedicated to promoting the thoroughbred horse as a cultural asset. Our aim is to jointly own champions on four legs, to share the joy of horse racing and ensure the welfare of the horses during and after their careers.

You can participate in the various LIBERTY RACING syndicates by purchasing shares. The cost per share varies depending on the syndicate. These shares allow you to become a co-owner / shareholder of several horses, thus minimizing the risk of a single-owner purchase. All 2025 syndicates are sold out. Register now for 2026! New syndicates will be founded there on July 1, 2026.

Of course! We are happy when new people enter the world of thoroughbred racing. We offer many explanations and video calls for newcomers. At LIBERTY RACING, newcomers benefit from professionals and vice versa!

Yes, it is possible to purchase several shares in different LIBERTY RACING syndicates to diversify your co-ownership. In 2026, we offer two options: 13,500 euros and 27,500 euros.

Lars-Wilhelm Baumgarten's LIBERTY RACING Management UG and Nadine Siepmann manage all syndicates.

LIBERTY RACING Management UG organizes recreational fun with friends and acquaintances and offers comprehensive services, including syndicate administration, contract management, financial management, marketing, selection and purchase of horses, selection and communication with trainers, organization of racecourse and training visits and much more.

LIBERTY RACING Management UG receives 5 percent per syndicate share for the syndicates as an administration fee when purchasing syndicate shares, 5 percent of every cash prize achieved by a horse from the respective syndicate in races or, as e.g. with LIBERTY BREEDING 5 percent of the breeder's premium, and 5 percent of the sales price when the horses are sold. Should LIBERTY RACING Management UG generate profits, the UG will promote new syndicates and invest in the popularization of horse racing.

The founders have an impressive track record, including multiple Group wins and successful breeding successes with renowned horses such as WONDERFUL MOON (multiple Group winner) and DJANGO FREEMAN (Group winner, 2nd in the IDEE 150th German Derby, Group I) as well as MUSKOKA (winner of the 165th Henkel Prize of Diana, Group I).

The first syndicate LIBERTY RACING 2020 was already a great success: All four horses turned out winners. ASSISTENT finished 4th in the IDEE 153rd German Derby (Group 1) and NIAGARO won the 79th Silberne Band der Ruhr over 4,000m at Listed-level in superior fashion. NIAGARO and WESTON were both sold as 3-year-olds for a combined €420,000 at the Arqana Auction in Deauville.

The following syndicate LIBERTY RACING 2021 topped it all: FANTASTIC MOON triumphed in the most important race in the country: The IDEE 154th German Derby (Group 1, €650,000, 2,400m) at Hamburg-Horn. WINNING SPIRIT finished second in the 140th Derby Italiano (Group 2) and fourth in the IDEE 154th German Derby (Group 1), and FANTASTIC MOON was retired to stud as the first LIBERTY RACING stallion. 

LIBERTY RACING 2022 added another chapter to the success story when PALLADIUM won the IDEE 155th German Derby (Group 1, €650,000, 2,400m) while ARGENTUM celebrated two impressive victories, was placed in high-prized Auction Races and finished fourth at Group level. Both colts were sold at the ARQANA Arc Sale for 1.4 Million euros and 175,000 euros respectively. 

These extraordinary successes, generated from the start impressively highlight the philosophy and quality of management of LIBERTY RACING: To mold promising talent into true stars on the racecourse through a highly professional selection of yearlings, an excellent pre-training and quality training. 

The horses are professionally selected by an experienced and well-connected team of experts in all areas (breeding, conformation, pedigree, vets, trainers). The focus in the selection process is on successful German families and proven sires in order to maximize the potential for Derby or Oaks. For LIBERTY RACING 2024 Gold, unproven sires are also considered and the focus of the purchase decision is placed on the horse's conformation. Modern IT technology (such as equineline.com, thoroughbreddaily-news.com or g1goldminde.com) will also be consulted.

LIBERTY RACING uses the strength of German breeding, especially in the area of stamina (endurance), and successful German lines through targeted purchases to select first-class horses.

The term varies depending on the syndicate. In the LIBERTY RACING 2026 PLATINUM and LIBERTY RACING 2026 Gold syndicates, the syndicate runs until 31.12.2026. Following a majority decision at a shareholders' meeting, the syndicate can be extended by one year in order to keep one horse for another year. While the "Racing" syndicates run for 2 or 3 years, the LIBERTY RACING BREEDING 2023 syndicate runs for 7 years and will be settled by 31.12.2030 at the latest.

The costs per share vary depending on the syndicate. In the LIBERTY RACING 2026 PLATINUM and LIBERTY RACING 2026 GOLD syndicates, each share costs 27,500 and 13,500 euro respectively. For LIBERTY BREEDING, each share costs EUR 10,000 per year (6 times).

No, there is no obligation for syndicate shareholders to make additional contributions. The payment is made once when the syndicate shares are purchased. Unlike LIBERTY BREEDING, where a share costs EUR 10,000 per year and is paid 6 times.

The syndicates are settled at certain times specified in the contract, depending on the respective syndicate. After deduction of all costs such as purchase, training and veterinary etc., each shareholder receives his percentage share of all available funds (net race prizes and net sales proceeds).

It is important to understand that horse racing syndicates are primarily for recreational purposes and are not investment vehicles. There is always a risk of loss, even if you have shares in several horses. The syndicates are a hobby - even a complete loss (all horses are worthless) is possible.

A share in LIBERTY RACING 2020 was €25,000, and each shareholder was paid €32,028.50 for their share in February 2023.

All syndicates are registered as separate GbRs; hence, there is a GbR contract in every syndicate. 

A civil law partnership (GbR) is the simplest form of partnership. It consists of at least two natural or legal persons who join together to achieve a common legal business purpose. The GbR has legal capacity and can create its own assets and enter into its own liabilities. There is no limitation of liability, i.e. each partner is generally liable with all their (private) assets.

The shareholding (shareholder name, personal identification number and tax number, amount of the shareholding) will be notified to the Goslar-Bad Gandersheim tax office when the GbR is established, thus, we also need your tax number.

No, in the case of Liberty Racing GbR, this is done by the managing director of Liberty Racing Management UG (haftungsbeschränkt) or the appointed tax representative.

Yes, at least two shareholder accounts are kept for each shareholder in accordance with the contract. The initial capital is shown as capital account I, while capital account II is a variable capital account for current profits/losses during the entire term of the investment.

Liberty Racing Management UG (haftungsbeschränkt), Am Wildpark 17, 38667 Bad Harzburg, Braunschweig Local Court HRB: 208658, represented by the Managing Director Lars-Wilhelm Baumgarten.

The accountant office Steuerberatergesellschaft WSR Salzgitter, Gittertor 14, 38259 Salzgitter, represented by tax consultant Thorsten Winter.

The profits are to be taxed personally by each shareholder. For this purpose, a separate and uniform assessment is carried out, i.e. several persons are involved, whereby the tax base for the company is determined separately, but uniformly for each participant. The uniform assessment is intended to treat all participants equally. The Goslar-Bad Gandersheim permanent establishment tax office will inform the respective tax offices of the shareholders' places of residence in accordance with the assessment notice. The shareholder is not obliged to declare the profits himself.

In principle, yes. The same legal situation applies here as for profits. However, in the case of permanent losses of the company, it should be noted that the tax authorities may deny the companies (GbR) the so-called intention to make a profit in the course of subsequent audits and the profits may be retroactively disallowed as a result, which may lead to additional tax payments in the personal area (income tax). Various proceedings in this matter are currently pending before tax courts, and the tax office has not yet issued a final opinion.

For each financial year, the management of Liberty Racing Management UG (haftungsbeschränkt) prepares a profit calculation in accordance with Section 4 (3) EStG (annual financial statements) on the balance sheet date (31.12.) in compliance with tax regulations. Each profit calculation/annual financial statement is certified by Steuerberatungsgesellschaft WSR Salzgitter mbH with a certificate of completion.

Participation in a LIBERTY RACING syndicate offers the opportunity to experience the fascinating world of horse racing with like-minded people, to own horses together and to experience the dream of winning derbies and major national and international victories.