Owning a racehorse ???
Duckgawd
Senior Member
I think we have a couple owners amount us, just curious to get some insight. As a long time race fan, it is a dream some day to own one. I know horses cost from thousands to millions, but if there is a "right" way to start what is it? Syndication? Low level claimers? Auction?
I know we are all gearing up for the derby and don't want too take your attention from that, but would love to hear stories of how you guys got into the ownership game. Look forward to hearing anything you got!!!!
I know we are all gearing up for the derby and don't want too take your attention from that, but would love to hear stories of how you guys got into the ownership game. Look forward to hearing anything you got!!!!
Comments
This is a great topic, i feel like you.i know is expensive what ever that is, but there's different ways to becoming a owner.
i see stables offering Partnership. their ways/loopholes on becoming a owner/partner with out being that expensive.
First - if you're looking to make money - stop now. If you're looking to have a blast (and experience the highest highs and lowest lows), then you're in the right game. Have $100k outright to blow if you want full ownership of a nice type and upkeep. $5k has you ballin' at Los Alamitos.
Second - You get what you pay for in a trainer. Period. The budget ones get budget results. (Honesty is important here too.)
Third - Get a race ready runner(s). You want to jump right in to the action. Later you can breed, or buy a yearling, and watch him make it to the races.
Fourth - Circuit choice. If you're trying to get to the winner's circle, a smaller track offers a chance to win more easily (and usually for much less $$$)
Five - Dress nice for the picture.
I was in a syndicate a few years ago and it was expensive, though at times fun. The advice I would give you up front is that you need to ask yourself how much control you want to have. Do you want to have a small percentage of a bigger pie, where you are targeting better, more expensive horses, but will own less of them? That's fine, but just bear in mind you will have virtually no say over where you spot the horse or who trains him, etc. You will be at the mercy of whomever controls the syndicate and you may not agree with the way he/she manages things.
The other option is to get a larger piece of the puzzle, Maybe you go in with three friends and share the decisions. This will lead to long debates if your friends are anything like mine.
Or you could just go in yourself. You'll have complete control, and if the trainer doesn't listen to your advice (many of them won't), then you can fire his/her ass and find someone who will put up with you. But unless you are Eugene Klein (rip), or Satish Sanan, or the Sheikh himself, you will have limited ability to acquire quality horseflesh and, as dirty said, you will find yourself at Los Alimitos. I suppose there are worse places to be.
It helps to have $ :drinking:
Oh, and remember, your initial investment will not cover the ongoing cost of training, feeding, vetting your animal(s). Expect an ongoing financial committment.
Your location in Buffalo gives you the opportunity to get down to Finger Lakes and spend time on the backside talking to other owners and assistants. In an ideal world, you could claim a ny bred at Finger Lakes and get lucky enough to send your horse to the NYRA circuit for a chance for the big money. Realistically, this won't happen very often. Thus, you end up with a inferior horse running for small potatoes, and the daily rate for even a Finger horse could be as much as $100 per day, but probably avg around $70 or so. You don't even want to know what TAP and Assman get per day!
If I had the resources of the Arabs, I would camp out at Winstar and buy nothing but cross breds to Tiznow and Distorted Humor, but one of these with good confirmation will be priced beyond most folks means. Consequently, you are left with the option of a partnership buying well bred horses who may have some small problems but hope they grow out of it and can compete on the higher levels. Everything said herein above by Dirty and Sir Bear is accurate as hell, painfully so!
This all said, nothing beats hands-on experience and I would advise you to get on the backside around 5:00 every morning for about a week and don't be timid about talking to people, you will find that most are more than willing to talk. I've been involved in this great sport for over 40 years, in many roles, and still today I am thrilled if I break even on a purchase! Consider that a WIN!!!
My interest in ownership came from watching a low level claimer- smiling Jordan who I still follow and is a decent low level guy for his age, and would love to buy him! I followed him for nearly 6 years now.... and it has been enjoyable to look at condition books and see where they are pointing him even though pretty obvious starter allowance at over a mile! Its good to hear stories about ownership and I always enjoy reading everyone's personal stories with horse racing as well as the handicapping!!!
Definitely the kind of horse you want. No major health problems and continues, at age 10, to be competitive. We just retired one who was only 4, and broke maiden at Saratoga, so you know he could run---but physical set-backs became never ending. Not to mention the bills from Dr. Brameledge and the fun bunch at R&R in Lexington.
Best of luck and enjoyment to you in your pursuit of a good claimer!
John, how did you get your start as an owner and what made you make the jump to becoming an owner?
Back in the 1960's, Gene Goff, father of the famous Dash Goff, bought and imported the great Noholme II from England and brought him to Arkansas. Bred to a Goff mare and produced the great NOBOUBLE, who won the Arkansas Derby, SA Big Cap, and the Met Mile. We used to go over to the Goff farm and watch these beautiful animals run. Now, I always had horses, but mine were just Arkansas saddle ponies, and to watch Dash work the kind he had lit a fire in my belly that continues to burn today.
In the early 1970's, my uncle, Peter Harkins, bought a few from the Goff's. Peter married my aunt during the war when Virginia was in Dc working for senator and Peter was the anchor for NBC radio. Later, Peter was transfered to NYC where he was the main man for NBC radio, and every fucking afternoon after he got off work he made a beeline for Aqueduct or Belmont. I transgress?
In any event, I began working these young horses and was involved in their lives, from breaking to running to breeding. Peter eventually was employed by the Cella Family in Hot Springs to head up the Arkansas Breeders Association which he did until the early 1980's. I spent many a wild day and night in the most decetant town Arkansas has to offer.
At some point in my life, after horses, dames, blow, and a myriad of other vices, I settled down and married and raised a family. After I got my daughter through Vanderbilt Law and successfully employed in DC, I had a little disposable income, so I called Cot and got involved in many Dogwood partnerships. I can't say enough good things about Cot and Jack Saddler and the Dogwood folks.
There you have it---my life is an open book on HRT FORUM!
BTW, I have narrowed my choices in the Oaks and Derby to 6 and 14 horses respectfully. If the post position draw does not cause me to narrow my selections, then the Pinch Dimple will!!!!
One thing you might consider if you decide to try a partnership, first. All partners get ownership priveleges at the track when their horse is running. I have a good friend who owns 1 share ($65) in a filly in New York. For his $65, he gets free admission to the track any day and stable access when his horse is there. That alone makes the $65 worth the investment. It also helps that his horse has been in the money the last four races she ran before last week when she was entered in a starter allowance race. She finished 5th in that one.
Anyway, good luck, and put up a post when you decide. I, for one, would be interested in hearing.
Jjohns I have looked into partnerships and I would get into one of those for the reasons you say, the privalages! I don't think I would make 1 penny but the privalages would be well worth it!!!! Thanks for the info!