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.
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.
The expenses that go with being a partner in a horse racing partnership are many, but then so are the rewards. Joining in a partnership may be the fulfillment of a dream, and it allows you to join in with an elite group. There are many other benefits that come with each and every racing partnership.
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. - 16887
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.
The expenses that go with being a partner in a horse racing partnership are many, but then so are the rewards. Joining in a partnership may be the fulfillment of a dream, and it allows you to join in with an elite group. There are many other benefits that come with each and every racing partnership.
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. - 16887
About the Author:
C. Anne Baker's life has included thoroughbred horse racing and breeding for many years. She also contributes to horse racing charities. For a limited period, visitors to her web site PartnersInThoroughbreds.com can download her excellent report Becoming included A Horse Racing Partnership
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