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MiRunners at Magic Millions to make top-class thoroughbred ownership mainstream for even more Australians



All 1,000 units in first yearling Saganaki sold out in October, hundreds of Australians purchase early priority access vouchers ahead of this week’s auctions

Sydney, 9 January, 2018 - MiRunners, the startup company making thoroughbred racehorse ownership affordable, accessible and easy for every Australian, is at this week’s Magic Millions yearling sales event on the Gold Coast.


MiRunners bought its first yearling Saganaki (by Real Saga from Cubism) at last year’s Magic Millions event, and then created 1,000 units to offer to the public from June last year. All 1,000 units were purchased online by 400 individual owners - 70% of them via a mobile device. With a purchase price of $165,000, each unit cost just $165 - a price most Australians can consider. A small monthly fee (capped at $15 per month for the first unit bought, dropping to $5 per month for each subsequent unit) covers training, veterinary fees and technology expenses.


Interest ahead of this week’s auctions has been high: the majority of priority access vouchers have been purchased for the next horse, by over 320 Australians from every walk of life.


Steve Brown, co-founder of miRunners, explains how miRunners’ success benefits the thoroughbred industry as a whole: “We’ve made horse ownership affordable, accessible, and simple, with just a few clicks either on our mobile app or the purchaser’s laptop. There are no hidden costs, and no mark-ups.


“Central to our success is the premium ownership experience every owner enjoys. Our proprietary technology lets our trainers communicate every week with the hundreds of Australians who now share ownership, using live and recorded video direct from the trainer via app, text and email. So whether its breaking in, jump-outs, naming the horse, track work, swimming, or designing the silks, miRunners owners are deeply connected with their thoroughbred and its development from the moment they become unit owners.


“This is a first for horse owners, and represents new thinking in the way this new generation of thoroughbred owners are engaged.”


The future direction of the thoroughbred racing industry was much-discussed in 2017. Steve Brown: “For our industry to thrive further, exposure to top-class racing has to be mainstream rather than exclusive. The miRunners model and platform represent something new to offer more Australians, something  previously reserved only for those with high disposable incomes, and has tapped the enthusiasm the public has for premium thoroughbred ownership. Our approach, which allows everyone to choose their own affordable price point, addresses some of the challenges facing the future of thoroughbred racing.


“Our model complements other initiatives being considered across the broader industry. And everyone wins - a new generation of owners, trainers, breeders, race clubs - pretty much anyone employed in this industry.”


And the industry is taking notice. Luke Murrell, co-founder Australian Bloodstock Syndications, said: "The miRunners concept is fantastic. First-time owners really should dip their toe in the water and miRunners gives them the same thrill as a Melbourne Cup winning owner with very little financial risk.”


Ron Gilbert , Vice Chairman of Aushorse Marketing, said: "Australia produces an incredibly high standard of product with its race horses. The industry also puts on some of the best shows on Earth with its racing carnivals throughout the nation. If miRunners makes this product accessible to the general population across the globe, at a price point that appeals to millions of people, then our industry would be mad not to get right behind miRunners.”

ENDS.


MiRunners is at:

https://mirunners.com/

https://twitter.com/miRunnersDotCom

https://www.facebook.com/miRunnersDotCom


For more information or for an interview with miRunners, contact:

Alan Smith, Digivizer, 0404 432 700