Cheap Ownership of a Thoroughbred Racehorse
January 28th, 2009
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%.
* You will pay the trainers fees. The rate per day will vary but it may be anywhere from $25 $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.
* Race entry fees - vary depending on location and race
* Any fees and dues for association memberships or subscriptions will be due.
* 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 may be necessary. This may be just a few hundred dollars or it may be as high as a few thousand dollars.
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.
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.
Tags: advice, sports, general, hobbies
Tags: buy a share in a racehorse, equine, horse-racing, own a racehorse, racehorse ownership, racing partnerships, racing syndicates, Recreation, Sports, thoroughbred racing partnerships, thoroughbred syndicates
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