Finding The Right Thoroughbred Horse Racing Partnership
Traditionally, owning a racehorse was a privilege reserved exclusively for those of great wealth. However, within recent decades the world of horse racing has opened up to less wealthy enthusiasts with the introduction of horse racing partnerships.
Unlike individual ownership, which is just one person owning a racehorse, horse racing partnerships are groups of many people who own the horse and operate with a controlling partner, a manager, or a racing stable in command. There are several ways to form racehorse partnerships such as friends coming together to join in on the ownership. Other partnerships are formed as investment ventures, and these are called syndicates. With this type of race horse partnership arrangement, the partners may know nothing about each other than having a shared love of race horses.
Horseracing partnerships and syndicates are generally set up as limited liability corporations, but there are other business entities that are possible for a partnership. Like the horses themselves, each partnership is different and each spreads the cost of the horse among the partners, making it possible for the partners to own a racehorse. How much they pay depends on how much of a share they have in the horse. There are a number of costs required of racehorse owners such as veterinary bills, farrier fees, transportation costs, insurance premiums, feed and care, training fees, jockey fees, and more.
Many horse racing partnerships are set up so that each partner pays a share of the costs of the horse upfront and afterwards pays a quarterly or monthly fee that is paid in advance. This amount will depend on how large the share of ownership is. If any other costs become necessary, those will be billed to you as well.
Although there are many fees and expenses required with belonging to a horse racing partnership, there are many rewards as well. These include fulfilling a dream, joining an elite and prestigious industry as well as many other benefits when you belong to a racing partnership.
If it has been your dream to own a racehorse and you were afraid you could never afford to do so, joining a horse racing partnership may be the key to making it possible for you to own a racehorse. When you are involved in a horse racing partnership, you are far more involved than just feeling the thrill of the race track. When you are a partner you have affordably become an owner and may find yourself in the winner?s circle with your own share of the purse winnings.