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There are often attempts to found a new faction, but generally they are unsuccessful. - (Assassin of Gor, Chapter 16, Sentence #210)

The backing of the faction was a bit mysterious. What gold there was behind the Steels was not clear, either as to quantity or origin. It might be noted, however, that a serious investment is involved in attempting to form a faction. There are often attempts to found a new faction, but generally they are unsuccessful. If a substantial proportion of races are not won in the first two seasons the law of the Stadium of Tarns discontinues its recognition of that faction. Moreover, to bring a new faction into competition is an expensive business, and involves considerable risk to the capital advanced. Not only is it expensive to buy or rent tarncots, acquire racing tarns, hire riders and Tarn Keepers, and the entire staff required to maintain a faction organization, but there is a large track fee for new factions, during the first two probation years. - (Assassin of Gor)