DEBT Demolition, the horse owned by a group of Melbourne supporters, will run its first race at Seymour on Thursday.

It will run in race one, Clear Railway Club SV 2YO Maiden Plate (1100m).

David Hayes, who also owns 25 per cent of Debt Demolition, is the trainer. Jockey Brad Rawiller will ride Debt Demolition.

Twenty-three red and blue supporters and board members have formed the syndicate.

One of the owners is Sydney-based Alec Leopold, whose horses all race in Melbourne colours. Debt Demolition will also carry the red and blue colours.

A total of $20,000 was raised to buy Debt Demolition, with 10 per cent of any prize-money set to be donated back to the club.