Material World was a very special racehorse – a true battler, a true winner despite losing an eye in an accident before her career on the course began.

And now, people are being offered the chance to buy a stake in the next chapter of a remarkable Sussex racing tale.

For five years, the mare defied the odds to score some great wins and placings in National Hunt races at some top tracks, including one triumph at Cheltenham, the course that's the focus of everyone in the business this week.

She was retired after problems were picked up by her jockey at the World Hurdle at last year's Cheltenham Festival, and is now expecting her first foal, sired by triple European champion stayer and dual Ascot Gold Cup winner Kayf Tara.

For obvious reasons, big things are expected of the foal – due in May – which is why a racing club has been set up to own her and oversee her career from stable to – all being well – winner's enclosure.

Robin Smith from West Wittering owns Material World, while his daughter Suzy, based in Lewes, was her trainer and will also handle her offspring.

And Robin is excited at the next stage of the unfolding story.

The 61-year-old said: "Material World is a horse of the people, and she's had a big fan club for a long time, largely because she had one eye, but still went on to have a terrific career.

"We felt forming a racing club to own her first foal would be great fun – a way of sharing around the experience of owning a horse, which can be expensive and lonely if you do it on your own. There are no guarantees, of course, but our hopes for the foal are very high."

A maximum of 20 people will own shares in the foal, and around 50 per cent have been snapped up already.

Robin hopes Sussex people will want a piece of the action: "Although she was not originally from Sussex, Material World has been in county throughout her racing career and with the racing club being based in West Wittering, that extends the link.

"But we've had interest from far and wide. The first lady to get involved was from Switzerland.

"I will run the club and members will decide on a name. It will run in the same colours as Material World.

"The foal will go to Suzy when it is three for her to start preparing it for racing, but before and after then, there will be many opportunities for club members to see the foal progressing, and to see Material World too, of course.

"I think it's unique to have a foal of this top-class breeding owned by a racing club."

Robin will manage the club, which will be run by a committee of four - Robin, Honor Woods (treasurer), Suzy Smith (trainer) and Sergio Gordon-Watson (assistant trainer).

The club are officially registered at Weatherby's, who deal with racing administration and banking for the racing industry.

Kayf Tara had his first graded chase winner a few weeks ago when Kornati Kid beat the long-time leader Will Be Done in a thrilling finish to the grade two Totepool Chase at Wetherby.

Kayf Tara is proving to be the top British jumps stallion with his offspring doing very well at the racetrack and at the sales - fetching up to £200,000 at sale.

"This was more evidence that the combination of Kayf Tara with good mares produces winning offspring," said Robin.

HOW TO GET INVOLVED

The cost of joining the racing club is £2,875 per five per cent share before March 31.

If there are any shares left after March 31, the price goes up to £3,450 per five per cent – as Kayf Tara offspring are doing so well.

Applications will close before the foal is born in May 2009. A £70 per month contribution per five per cent share starts in June after the birth.

Shares can be bought only in five per cent blocks.

The club will be limited to a maximum of 20 people but a couple or partners can buy one share as long as only one is the named the shareholder and treats the other as a guest.

There will be a full refund if there is no live foal, with any interim interest earned going to equine charities.

Benefits are capital shares in a well-bred foal, a share of potential prize money, fun and fellowship with other club members, visits to see both mare and foal and a chance to watch foal develop and go through training.

There will be social events and tickets to the races when the horse runs.

Anyone interested in buying into the club or finding out more can go to www.materialworld.org.uk or call Robin Smith on 01243 513933 or e-mail him at racingclub@materialworld.org.uk