What is LIBERTY RACING and what is its aim?

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 who share the joy of horse racing and ensure the welfare of the horses during and after their careers.

What is LIBERTY RACING and what is its aim?

You can participate in the various LIBERTY RACING syndicates by buying shares. The cost per share varies depending on the syndicate. These shares allow you to participate in several horses and minimize the risk of a single purchase. In 2023 all syndicates are sold out. Register now for 2024! New syndicates will be founded there on August 1, 2024.

Can I take part in the LIBERTY RACING syndicates as a beginner?

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

Can I acquire several shares in different syndicates?

Yes, it is possible to purchase several shares in different LIBERTY RACING syndicates to diversify your investment. In 2023 there were four options: 10,000 euros, 27,500 euros or 40,000 euros.

Can I acquire several shares in different syndicates?

Lars-Wilhelm Baumgarten and Nadine Siepmann's LIBERTY RACING Management UG manages the syndicates.

What services does LIBERTY RACING Management UG offer?

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.

What services does LIBERTY RACING Management UG offer?

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, in the case of 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.

What services does LIBERTY RACING Management UG offer?

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 won - ASSISTENT was, among others, 4th in the IDEE 153rd German Derby, Group 1 and NIAGARO won the 79th Silver Ribbon of the Ruhr over 4000 m (Listed race) in superior fashion. NIAGARO and WESTON were both sold as 3-year-olds for €420,000 at the Arqana Auction in Deauville.

LIBERTY RACING 2021 topped it all: FANTASTIC MOON won the most important gallop race in the country: The IDEE 154th German Derby - Group 1, 650,000 euros, 2,400 m at Hamburg-Horn. WINNING SPIRIT finished second in the 140th Derby Italiano (Group 2) and fourth in the IDEE 154th German Derby (Group 1).

How are horses selected for the LIBERTY RACING syndicates?

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 stallions in order to maximize the potential for Derby or Diana. For LIBERTY RACING 2023 Gold, unproven stallions are also considered and the focus of the purchase decision is placed on the horse's conformation. Modern IT technology (such as, or will also be consulted.

What role does German breeding play at LIBERTY RACING?

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.

What role does German breeding play at LIBERTY RACING?

The term varies depending on the syndicate. In the Liberty Racing 2023 Aces, Kings and Gold syndicates, the syndicate runs until 31.12.2025. Following a majority decision at a shareholders' meeting, the syndicate can be extended by one year in order to keep a 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.

What does a share in LIBERTY RACING cost?

The costs per share vary depending on the syndicate. In the LIBERTY RACING 2023 Aces and LIBERTY RACING 2023 KINGS syndicates, each share costs EUR 27,500. In LIBERTY RACING 2023 Australia, each share costs 40,000 euros, and in LIBERTY RACING Gold, each share costs 10,000 euros. For LIBERTY BREEDING, each share costs EUR 10,000 per year (6 times).

Is there an obligation to make additional contributions for the syndicate shareholders?

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.

How are syndicates billed?

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).

What is the risk of loss when participating in a syndicate?

It is important to understand that gallop 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.

What sums were distributed in the first syndicate?

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

All syndicates are a GbR. There is a GbR contract in every syndicate.

What is a GbR?

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.

Will my investment be reported to the tax office?

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, so we also need your tax number.

Do I have to report my investment to the tax office?

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.

Do I have my own shareholder account?

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.

Who keeps the accounts?

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

Who does the tax return for LIBERTY RACING?

Partnerschaftsgesellschaft mbB fessel & partner Steuerberater, Gittertor 14, 38259 Salzgitter, Partnership Register Hanover PR:200292, represented by the tax consultants Dipl.-Kfm. Carsten Rullmann and Thorsten Winter

Do I have to pay tax on my winnings?

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.

Can I deduct my losses?

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.

Are there annual financial statements?

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 Partnerschaftsgesellschaft mbB fessel & partner Steuerberater with a certificate of completion.

What are the advantages of participating in a LIBERTY RACING syndicate?

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

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