Syndicate enjoys mixed fortune but craic remains real prize

SYNDICATE: By day, top-notch financiers and by night, kings of the dog track: it's an unlikely combination, but one that manages…

SYNDICATE: By day, top-notch financiers and by night, kings of the dog track: it's an unlikely combination, but one that manages to sit well with Mr Paul Sharkey and 10 of his dog-owning colleagues in Dublin's International Financial Services Centre (IFSC).

At least that's when they manage to own a greyhound. At the moment, the Just for Laughs syndicate (pictured above) is without a dog, their last venture having sustained a sad and ultimately fatal injury during training.

But the syndicate is not to be deterred: they plan to have another dog running before the end of the summer and let the process of training and competition begin once more.

Mr Sharkey and his syndicate partners first entered into dog ownership together a couple of years ago when they all worked in Citibank. Through various company activities and nights out, the group found themselves frequenting Shelbourne Park Greyhound Stadium on a regular basis.

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"It was good craic," says Mr Sharkey, who adds that owning a dog was just the natural next step from being a spectator.

"Someone suggested that we should buy a dog instead of just backing one."

The syndicate purchased its first dog, Fun Perry, from Mr Sharkey's father in Co Louth, where the family had been involved in dogs for several years. The "sapling" - aged about 10 months - cost £600 (€762) and had not been involved in racing, which rendered its winning potential far from certain.

"We outlined at the start that we weren't in it to make lots of money - just for fun and a couple of nights out," says Mr Sharkey. "We just said, hopefully we'll do well."

The dog was immediately sent to one of the State's top trainers - Mr Paul Hennessy of Late, Late Show greyhound fame. With Mr Hennessy, Fun Perry was coached to competitive level with a combination of feeding and physical training. This process, costing the syndicate about £40 a week, took six months, a wait that Mr Sharkey says was "anxious enough".

It was worth it however. When Fun Perry hit the track, he turned out to be a fine competitive racer, winning several prizes and providing the syndicate with funding for the ongoing training.

"And then he got as good as he was going to get, so we sold him to a trainer in England," says Mr Sharkey. "We made a nice profit - it paid for the next dog and for a couple of nights out."

Currently, a deal for a new hound is on the cards but has yet to be closed. The syndicate expects to spend about the same as it did on its last purchase.

Despite their recent bad experience, Mr Sharkey says that syndicate ownership has been a very positive experience for the group, now reduced to 10 following two members' departure for Australia.

He says that in recent times, Shelbourne Park has become the venue for reunions for the syndicate, since most have since moved on from Citibank to other employers, and describes the "great excitement coming up to race night".

"If you have 10 people in the syndicate, you might have 40 or 50 going to see him race," he says, adding that a few hours at the track is a great start to any night out, particularly if a bet has been placed and the dog wins. "We always have a couple of euros on it," says Mr Sharkey. "But really, it's about the enjoyment you get back."

Úna McCaffrey

Úna McCaffrey

Úna McCaffrey is an Assistant Business Editor at The Irish Times