How did you get into racehorse ownership?

About 15-20 years ago through business – a lot of deals are done on racetracks. As you can imagine, I was not really brought up with horses on Achill.

What was your best day at the races and why?

When Fletchers Flyer won a handicap chase at the Punchestown Festival in 2016 or when Minella Awards won a handicap hurdle there last year also.

What is the biggest drawback about being a racehorse owner?

The expense of it all – it’s a pricey hobby. Don’t let the spending get out of hand.

In your experience, which racecourse in Ireland treats owners the best and why?

Leopardstown and Punchestown are excellent. I don’t get a chance to get to the western tracks but they have a good reputation for putting on a good day out.

Flat or jump racing, which do you prefer and why?

The jumps are my favourite. I would go along to corporate days out on the flat.

What qualities do you look for in a trainer?

Honesty and sharpness – absolutely no bullshit!

What improvements would you like to see racecourses in Ireland do for owners?

There have been great improvements on tracks in Ireland. Leopardstown’s Dublin Racing Festival is an excellent initiative and Thyestes Day at Gowran is usually a terrific day.

My friends tell me that there have been a lot of improvements done to facilities at the western tracks.

What significance do your colours hold?

The red and green of Mayo, of course, and I was very pleased to get first choice. My horses seem to win better than the county!

(Some of the horses in different partnerships run in blue/green.)

When buying a horse, what do you look for?

I don’t have time to go to the sales and it’s too much of a lottery.

I buy horses through my trainers and get good advice from someone I trust.

What horses do you currently have in training?

I have four with Willie Mullins, four with Harry Fry and one with Neil Mulholland, plenty on the go.

I had a wonderful horse with Harry, Neon Wolf, who was just touched off in the Neptune last year. He died after a freak accident in his stable. I’ll never get another one like him. He had the class to go all the way to the top.

What’s next on the agenda for your horses?

Carefully Selected won the bumper at Naas on Sunday and is now being considered for the Champion Bumper at Cheltenham.

My other Cheltenham entry is Sayo in the Triumph, so we’ll see if those two get there. But, to be honest, I like my trainers to aim my horses for the Punchestown Festival. Cheltenham is not the be all and end all of the racing year. For me coming back to Punchestown to go racing with family and friends is my ambition.

Have you any horses to look forward to? (i.e. young/unbroken horses)

Sayo is my four-year-old with Willie Mullins and he won first time out. I’m always trying to buy them cheaply!

What would help to make Irish racing more competitive for the smaller owner/trainer?

It’s difficult to start thinking about framing the kind of races that exclude the bigger boys – you can really mess things up that way. Take your chance and get stuck in. If I can have horses ready to take on the best at Punchestown that’s enough for me.

What advice would you give to someone thinking of becoming a racehorse owner?

Work on the principle that it is a very expensive hobby. Be prepared to lose always but it’s got to be enjoyable. You can’t wish for a nicer day out.

Michael Masterson was in conversation with Olivia Hamilton