Descended from a bloodline that stretches back to the 1600 hundreds, thoroughbred racehorses stand proud, steeped in tradition and culture. Being able to own even a small percentage of one of these majestic creatures is both a privilege and an honor. With the cost of a thoroughbred racehorse ranging from thousands of dollars to millions, ownership remains elusive for many but if you have always wanted to own a thoroughbred but do not have the financial means to buy one, a thoroughbred partnership or syndicate may be a way for you to obtain ownership at a fraction of the cost.
You can buy a percentage share in the racehorse by joining a horseracing partnership or syndicate. Besides what you pay for your share, you will have to pay an amount toward the maintenance of the horse each month that is based on the size of your share. The amount that you would pay is different depending on which horseracing partnership you join and what its rules are.
Some expenses you can expect to pay for each month when you own a thoroughbred racehorse are:
* Initial investment to purchase your share of ownership shares can be purchased for as little as 1% to as much as 45%.
* Fees for the trainer are calculated per day and may be as low as $25 or as high as $120.
* Feeding and care of the horse - again, this varies.
* Farrier costs are for the regular care of the horses hooves and may cost from $80 $220.
* Veterinary fees - routine care can range from $100 per month and up.
* The cost of transporting the horse will depend on fuel costs.
* Insurance on the horse will be required.
* The fees you pay for a race entry will depend on the race and its location.
* You may owe association fees or dues.
* You will owe jockey fees as well as 10% of any winnings.
* Management fees may be due based on the guidelines of each partnership. These may be a set amount or a percentage of the horse?s winnings.
* Advertising costs depend on the type of advertising. These may be as low as hundreds of dollars or as high as thousands of dollars.
As you can see, expenses will diverge quite a bit. When considering joining a horse racing partnership or syndicate, it is best to do your homework by comparing different racing partnerships to see what they have to offer and what expenses they consider customary to their way of doing business.
If expenses seem too high or if you are not satisfied with what they have to offer, do not hesitate to move on. By doing a little research and crunching the numbers, you will have a better overall picture of what each syndicate offers and which one you can afford to partner with. - 16928
You can buy a percentage share in the racehorse by joining a horseracing partnership or syndicate. Besides what you pay for your share, you will have to pay an amount toward the maintenance of the horse each month that is based on the size of your share. The amount that you would pay is different depending on which horseracing partnership you join and what its rules are.
Some expenses you can expect to pay for each month when you own a thoroughbred racehorse are:
* Initial investment to purchase your share of ownership shares can be purchased for as little as 1% to as much as 45%.
* Fees for the trainer are calculated per day and may be as low as $25 or as high as $120.
* Feeding and care of the horse - again, this varies.
* Farrier costs are for the regular care of the horses hooves and may cost from $80 $220.
* Veterinary fees - routine care can range from $100 per month and up.
* The cost of transporting the horse will depend on fuel costs.
* Insurance on the horse will be required.
* The fees you pay for a race entry will depend on the race and its location.
* You may owe association fees or dues.
* You will owe jockey fees as well as 10% of any winnings.
* Management fees may be due based on the guidelines of each partnership. These may be a set amount or a percentage of the horse?s winnings.
* Advertising costs depend on the type of advertising. These may be as low as hundreds of dollars or as high as thousands of dollars.
As you can see, expenses will diverge quite a bit. When considering joining a horse racing partnership or syndicate, it is best to do your homework by comparing different racing partnerships to see what they have to offer and what expenses they consider customary to their way of doing business.
If expenses seem too high or if you are not satisfied with what they have to offer, do not hesitate to move on. By doing a little research and crunching the numbers, you will have a better overall picture of what each syndicate offers and which one you can afford to partner with. - 16928
About the Author:
C. Anne Baker's life has included thoroughbred horse racing and bloodstock for countless years. She also contributes to horse racing charities. For a short period, visitors to her website PartnersInThoroughbreds.com can download her excellent report Becoming included A Horse Racing Partnership
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