Own A Thoroughbred Racehorse On The Cheap
The proud lineage of thoroughbred racehorses goes back all the way to the 1600?s and they remain a fixture of culture and tradition. Owning the smallest percentage of one of these magnificent animals is an honor. Owning a thoroughbred racehorse can cost thousands or even millions of dollars, making it difficult for most people to own one. But, it is still possible to do so for far less by buying a share in a thoroughbred partnership.
You can buy a percentage ownership, commonly called a share, of a thoroughbred by buying into a horse racing partnership or syndicate. You purchase your share and then pay a monthly fee for the horse?s expenses. Your monthly costs depend on the size of your share and how the partnership is structured.
Some expenses you can expect to pay for each month when you own a thoroughbred racehorse are:
* You will pay the initial investment amount for your ownership percentage. It may be as small as 1% or as large as 45%.
* Fees for the trainer are calculated per day and may be as low as $25 or as high as $120.
* You will owe the cost of caring for and feeding the horse.
* Farrier fees of $80 $120 are for the hoof care for the horse.
* The veterinarian’s fees for the standard care of the horse can be hundreds of dollars a month and more.
* Transporting the racehorse will require fuel costs.
* Insurance premiums – vary.
* The fees you pay for a race entry will depend on the race and its location.
* Association dues and/or fees – vary by association, subscription, etc.
* Jockey fees – plus a standard 10% of purse winnings
* Fees for management will vary from partnership to partnership based on their policies. These are often calculated as a percentage of the winnings or a specific amount per day or per month.
* Advertising Costs – vary, advertising can range from a few hundred dollars to several thousand and up.
As this makes clear, these expenses add up and vary quite a bit. When investigating any horseracing partnership or syndicate, find out how much each is charging per month before you invest.
A partnership with expenses that are too high may not be the partnership for you. And in researching several partnerships, you may find one that fits your investment budget better and has a lot to offer you.