That is very odd,i have never saw anything like that so close to post myself either. At a quick glance,i didnt see anything reported on it,and it was on dirt,so only thing that makes any kind of sense is ??? LOL serious i dont know.....INS raid maybe?

Only 2 things that come to mind:

- All the horses were in same barn and one got sick or something and the vet ordered a quarantine.

- They caught a race fixing scheme before the race could go off.

I have recently been presented with a business opportunity to purchase a race horse, through a partnership with multiple investors. In total they are trying to raise $20k for purchase price and maintenance. The partnership is run by a ‘Managing Partner’ who will be doing the majority of the decision making. While everything is voted on by the partnership he will be selecting the horse, the trainer, and dealing with the day to day troubles of maintaining the horse. He will also provide his opinion on where to race etc. As compensation for his work/expertise (outside of any equity share he may purchase), he receives the follow:

$200 a month to cover general business expenses and travel
5% of all purses won
10% of any purse over $100k
15% of any purse over $200k
10% of any profit on final sale of horse

I know very little about this stuff. Do the above incentives for the Managing Partner seem reasonable to you guys?

Byan,i myself know little when it comes to that end of the business,but i know Kev might have some info,his grandfather was in the biz,and St1gar may have some info,believe his stepfather is connected,sure once they see the question they will help.

Speaking of Kev,you burried in snow out there in NYC,as our other regs from NY? Havent heard from any NY people in a few,making sure all is well. Mothernature sure junk-punched the heck out of you guys lately. Think Kev works 3rd,and snow days kids home all day,lucky Kev!

fwiw....

currently i own a 2yo and am looking forward to the upcoming season. i own this guy by myself and i like this much better then a partnership. too many different agendas with partners imo.


i was involved in one of these deals in 2009. all of the partners were given the opportunity to buy shares at $1600 per. i think that there were a total of 25 shares, and all of those that were invited could buy as many as were avaiable. by the time i was approached they were down to the last couple of shares, and i bought one. i think that the most any one had was 3, and we ended up with a total of 18 partners. i think the guy running things only had one share, maybe one and a half. the "manager" got nothing extra for running things, other then his expenses when he went to keeneland and bought the horse.

as far as voting on decisions, the naming, and other day to day or racing matters it turned out to be a one man (the managers) show. i was in on the deal as a friend of a friend situation and felt that i and others were left out of the loop. also, once we got training and our filly showed some promise, she was put on a very aggressive schedule which i believe ended her career prematurely. ultimately, i feel as if the trainer, manager and a few others that were calling the shots, were just free-rolling with other peoples money.

our filly had won her first race wire-to wire in may and was done by mid july, having made only one more start. at the end of the day the money left in our account was distributed accordingly and the horse was given away to a rescue farm. i think i ended up down a couple of hundred bucks.

tl/dr... moral of the story
i would be very careful...i don't know what is standard, or if there even is a standard, but there is no way i would be giving your manager all of those extras.
racehorse are very expensive to train and maintain. there are always unforseen extra costs and those bills just keep coming.

I will try to find out, What if any additional benefits the managing partner receives from the partnerships Bob is involved in.

I agree though, it is important to find a managing partner you can trust. The managing partner for the two horses my stepdad owns, is one of the most well known figures at the racetrack, and has been a professional handicapper/ horse media guy up here for over 30 years.

I have never heard of any talk of costs that were not solely associated with the horse. Oh and make sure you get a proper account (monthly) of where all the money is going.

Good stuff Jack,St1lgar,hope that gets you in the right direction Byan,we have some good guys here in this thread,and Jack may know more than his name might indicate,glad you found the thread guys.

I will try and get a capped card up for tomorrow,got the kid back up to school so have some time now. He got me addicted to a show called Trailer Park Boys. I own a TV,just dont ever use it,and he showed me this show online,and i have been laughing my butt off since. Outside of Gretzky,this has to be Canada's greatest export. Bubble's is a triple OG....

Hi Bryan,

I own multiple horses at philadelphia park in pa. I have been in partnerships before and have had people manage for me in the past. I can say for you yes this is a standard deal in the business, except I believe the 200 per month fee should not be required as your manager has plenty of incentive. I wish you guys the best of luck with your claim\purchase. Also keep in mind that I am making the assumption your racing manager knows exactly what they are doing and has a proven track record in the sport.

Also Bryan, from my experience... The biggest mistake you guys can make is to under capitalize yourselves. With 20k capital, the most expensive horse I would claim or buy for that amount would be 12,500 if you plan on putting the horse right into training \ racing. If you plan on buying a 2yo etc, then 9-10k purchase may be more appropriate.

That doesn't sound like a partnership to me, sounds like a manager-managed LLC.

updated info....

tonight i spoke with my friend and (horse racing) mentor about the subject of partnerships. this guy has been in the game for 15+ years as an owner and breeder, and has raced 75+ horses. he told me that the kind of deal that was asked about is fairly common and something he has been involved with in the past. his experience with this type of deal was usually at a much higher $$$ level and only involved a few partners. the managing partner was usually someone with a well known rep in the game, and handled all the details of ownership and racing. as a partner he basically received and paid a monthly bill, and had very little say in matters. he was telling me that there are a lot of people with money that want to own a horse, but don't really want to have much to do with it, and will happily pay a manager to take care of things. not my situation. my friend has more or less soured on the idea of having partners, and the few deals he still has going, are totally on his terms. what ever percentage his partners have, is what they owe for bills and what they receive at the end. no fees or extras.

from what i've seen and heard (being around sales, farms, and the track) over the past few years there is always somebody that wants to do some type of deal. trainers, bloodstock agents, owners , breeders... there are plenty of players out there. in my view, there isn't enough purse money to justify paying any more people then necessary.



going to see my boy tomorrow and then over to the keeneland sale.
i am sure i'll get pitched a deal or two.

hope this helps

Thanks for the info guys, very much appreciated. I will post back in here with updates if I end up buying into the partnership. Im still on the fence.

Santa Anita 1/14/11

1.) 5-3
2.) 2-5-6
3.) 1-4-2
4.) 6-1-5
5.) 2-1-5
6.) 8-4-1
7.) 4-1-2
8.) 8-6-7

Looks to be a little more value to the front 9 than the back today.

How do I subscribe to your newsletter? Like the trifecta call in the 2nd.

Late $1 SA P4:

5) 1,4,5,6
6) 4,5,7,8
7) 2,4,5,6
8) 7

$64

Twinspires 10x points at Delta Downs tonight!

.50 pick four

1) 3
2) 2-4-7-8
3) 4-9
4) 1-3-5-6-8

.50 pick four

7) 2-4-5-9
8) 2-3-4-6-7-9
9) 3-4-5
10) 2-9-10

$20 + $108 = $128 wagered

no kidding. great day honcho. binked the tri-box on races 5 and 7 as well.

Thank you Vet,Clay....Hope you guys had a decent day also....Good Luck this evening Kev on your plays.

Wow some good races at Delta! Will follow you kev, b/c last time I did I luckboxed. Rooting harder for your ticket though, as you're due.

7) 1,2,4,5,6
8) 2,3,4,8,9
9) 5
10) 2,3,6,7,9,10,11

$87.5

ugh, alive in last leg for 700, 200 or 200 and one breaks thru the gate during the load and one dwelt at the start.. lol... here we go...

ytd(-128)

Big Drama WoW!! New TR for GP at 6F 1:08.12.....Ouch!

SA late $0.5 p4:

6) 3
7) ALL
8) 4,5,6,7,9
9) 5,7

$50

ytd -$515.5

Let's try Delta one more time...

7) 1-5-6
8) 2-6-7-8
9) 5-10
10) 1-2-3-6-7

$60

ytd (-188)

Slaved over the Gulfstream card, while I was at school today and hey at least I managed to figure out one race. This one, 6-1-2. A whopping 11.60$ trifecta! Big Drama sure is impressive, I hope he does well in Dubai, if that is where they decide to ship him.

Santa Anita 1/16/11

1.) 1-3-5
2.) 5-4
3.) 3-5-7
4.) 1-7-3
5.) 7-6-1
6.) 6-7-1
7.) 3-6
8.) 2-3-6
9.)1-6-10

Looks like a formful day,which usually means it ends up being anything but.

Congrats to Zenyatta on HOY. Enjoy your retirement old girl, you deserve it.