Qatar Racing writes off nearly £1 million as it ends partnership with microshares ownership group

Qatar Racing has dropped its 50 per cent stake in microshares company RacehorseClub, writing off nearly £1 million in liabilities in the process.

Launched with considerable fanfare in 2021, RacehorseClub offered ownership shares of a fraction of a per cent for a small, one-off fee and counted the likes of Frankie Dettori, Oisin Murphy and ITV Racing presenter Ed Chamberlin as brand ambassadors.

The venture enjoyed immediate success when Balko Des Flos finished second to stablemate Minella Times in the 2021 Grand National on his first start for the group, while Create Belief enjoyed a wide-margin win in the Sandringham Stakes at Royal Ascot in June the same year.