Thoroughbred race horses come from a proud lineage goes back to the 17th century, and they re steeped in long-held tradition. If you can own even the smallest stake in a thoroughbred you can consider it a privilege. A thoroughbred racehorse may cost anywhere from thousands to millions of dollars, and ownership of thoroughbreds is hard to come by. If youve had the dream but not the money to buy one, joining a thoroughbred partnership or syndicate might be the answer for you.
Horseracing partnerships or syndicates allow you to own a small percentage of the horse called a share. Other than the cost of your share, you will be responsible for paying an amount equal to your share of ownership, which covers the cost of monthly expenses related to the upkeep of the horse. The type of expenses as well as the amount will vary depending on each thoroughbred partnership and how it is structured.
Some expenses you can expect to pay for each month when you own a thoroughbred racehorse are:
* You buy an initial share of the horse which can be anywhere from 1% to 45% of the total.
* Fees for the trainer are calculated per day and may be as low as $25 or as high as $120.
* You will owe the cost of caring for and feeding the horse.
* Farrier costs are for the regular care of the horses hooves and may cost from $80 $220.
* The cost of a veterinarians care may be upward of $100 a month.
* Transporting the racehorse will require fuel costs.
* Insurance premiums – vary.
* Entry fees for the race will vary from track to track.
* Association dues and/or fees – vary by association, subscription, etc.
* 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.
All of these costs mean that there is a wide variance in how much you may pay per month. When you are considering a specific horseracing partnership or syndicate, you will need to find out which partnerships are charging which amounts before you join.
If a partnership seems to charge too much or you dont believe they have a lot to offer you, its best to choose another one. Doing just a little bit of research and comparing the numbers will show you which partnership you can afford and which ones offers you the most.
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