The Thoroughbred Horseracing Partnership That?s Right for You

Once upon a time only people who owned great wealth could ever hope to own a racehorse. But now, horse racing partnerships have made it possible for people who are far less wealthy to own a racehorse as well.
Sole ownership of the horse is one person who owns a horse outright. Horser acing partnerships bring many people together to own the same horse under the direction of a racing stable, a controlling partner, or a manager. There are several ways to start a racehorse partnership, such as friends who joined together to own a racehorse. Another way to begin a partnership is for several people to purchase the racehorse as an investment. These types of partnerships generally result in people who are not affiliated with the other partners and may have nothing in common outside the sport.
Many horseracing syndicates and partnerships are run as limited liability corporations, but it?s possible to set them up as other business structures. Each partnership is unique and each one makes it possible for many people to have ownership of the horse by spreading the costs among the partners depending on how large their share is. There are many costs required when owning a racehorse and the specific cost will depend on the way the partnership is structured. The cost of racehorse ownership will include the cost of the initial share as well as trainer fees, farrier fees, vet bills, feeding and upkeep of the horse, insurance fees, entry fees, transportation costs and jockey fees among others.
The way the horse racing partnership is structured means that the initial cost of the shares is paid upfront and afterward a monthly or quarterly fee is paid. This amount is usually paid in advance for the expenses that reflect your percentage share and the racehorse. Any other costs that are required but were not budgeted for will result in more bills to pay.
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 it has been your dream to own a racehorse and you were afraid you could never afford to do so, joining a horse racing partnership may be the key to making it possible for you to own a racehorse. When you are involved in a horse racing partnership, you are far more involved than just feeling the thrill of the race track. When you are a partner you have affordably become an owner and may find yourself in the winner?s circle with your own share of the purse winnings.

By:

C. Anne Baker's life has included thoroughbred horse racing and bloodstock for many years. She also contributes to horse racing charities. For a short time, visitors to her web site PartnersInThoroughbreds.com can download her excellent report Becoming included A Horse Racing Partnership

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