It used to be that only someone very wealthy could own a racehorse. But, racehorse ownership has recently opened up in the form of horse racing partnerships to people of more limited means who love horse racing.
In contrast to sole ownership, which is ownership by one person who has total control, horse racing partnerships represent ownership by many, typically having a general manager, controlling partner, or management by a racing stable. Racehorse partnerships are formed in various ways such as, friends sharing a common interest in the sport who come together to form a partnership. Another way of forming partnerships is through cooperation for the purpose of an investment venture, also known as a syndicate. With this partnership arrangement, you may not know or have any affiliation with the other partners outside actually sharing ownership of the racehorse and a love of the sport.
Most horse racing partnerships and syndicates are limited liability corporations (LLC's) but can be set up as other types of business entities. Partnerships, just like their associated horses are unique in and of themselves, designed to make ownership possible by defraying costs equally among the different partners depending on their percentage of ownership. Costs involved in owning a racehorse are many and vary depending on how the individual partnership is set up. Some of the costs related to owning a racehorse include the initial share cost of the horse, veterinary bills, trainer fees, feeding and care of the horse, farrier fees, individual and mortality insurance costs, transportation costs between tracks, entry and association fees, as well as jockey fees, to name just a few.
The structure of most horse racing partnerships is such that you pay your share cost upfront, thereafter you would receive monthly or quarterly billings, payable in advance for actual or budgeted expenses, which will cover your share percentage of ownership. If there are additional costs that come up not previously allotted for in the budget, you may receive additional billings.
Along with the many expenses affiliated with being part of a horse racing partnership there are also many rewards such as satisfying the dream of owning a racehorse, becoming a member of an elite industry, as well as various other benefits that come with specific racing partnerships.
If you've dreamed about owning your own racehorse but never believed you could afford to do it, a horse racing partnership is the way you can make it possible. When you are a part of a horse racing partnership, your experience at the track is more than just the thrill of watching the race. When you are a partner you have a chance to make it to the winner?s circle and to share in the purse winnings. - 16928
In contrast to sole ownership, which is ownership by one person who has total control, horse racing partnerships represent ownership by many, typically having a general manager, controlling partner, or management by a racing stable. Racehorse partnerships are formed in various ways such as, friends sharing a common interest in the sport who come together to form a partnership. Another way of forming partnerships is through cooperation for the purpose of an investment venture, also known as a syndicate. With this partnership arrangement, you may not know or have any affiliation with the other partners outside actually sharing ownership of the racehorse and a love of the sport.
Most horse racing partnerships and syndicates are limited liability corporations (LLC's) but can be set up as other types of business entities. Partnerships, just like their associated horses are unique in and of themselves, designed to make ownership possible by defraying costs equally among the different partners depending on their percentage of ownership. Costs involved in owning a racehorse are many and vary depending on how the individual partnership is set up. Some of the costs related to owning a racehorse include the initial share cost of the horse, veterinary bills, trainer fees, feeding and care of the horse, farrier fees, individual and mortality insurance costs, transportation costs between tracks, entry and association fees, as well as jockey fees, to name just a few.
The structure of most horse racing partnerships is such that you pay your share cost upfront, thereafter you would receive monthly or quarterly billings, payable in advance for actual or budgeted expenses, which will cover your share percentage of ownership. If there are additional costs that come up not previously allotted for in the budget, you may receive additional billings.
Along with the many expenses affiliated with being part of a horse racing partnership there are also many rewards such as satisfying the dream of owning a racehorse, becoming a member of an elite industry, as well as various other benefits that come with specific racing partnerships.
If you've dreamed about owning your own racehorse but never believed you could afford to do it, a horse racing partnership is the way you can make it possible. When you are a part of a horse racing partnership, your experience at the track is more than just the thrill of watching the race. When you are a partner you have a chance to make it to the winner?s circle and to share in the purse winnings. - 16928
About the Author:
C. Anne Baker's life has included thoroughbred horse racing and breeding for countless years. She also contributes to horse racing charities. For a short time, visitors to her web site PartnersInThoroughbreds.com can download her notable report Becoming included A Horse Racing Partnership
No comments:
Post a Comment