PA Board Members Claim A Horse?

[Beetlebomb]

Wouldn't be fun if a consortium of members of this board pooled a set amount of money to hire a trainer who could claim a horse "Mr. PA" or whatever, and assign a board member to coordinate with the trainer on details, and then get regular reports on the horse - follow its races - figure out how to make money with him/or her?

With enough participation, it could be fun - involving and follow the whole pattern of racing a horse. With an inexpensive claimer, it wouldn't take a lot of money individually.

Reports and updates would be fun, and feel we're involved.

Perhaps Pace Administrator could be the co-ordinator and make a few well earned money as the head of the consortium.

Just a wild thought. Is it crazy or could it be done?:)

[46zilzal]

I know of partners in stables who cannot decide how to handle a horse and you want to throw open the decisions to a group? good luck in that endeavor.

[rokitman]

Two votes, crazy :cool:

[tholl]

Good idea, I think. Would be fun but the decisions would have to be strictly left to one person.

[DanG]

Wouldn't be fun if a consortium of members of this board pooled a set amount of money to hire a trainer who could claim a horse "Mr. PA" or whatever, and assign a board member to coordinate with the trainer on details, and then get regular reports on the horse - follow its races - figure out how to make money with him/or her?

As long as The Fat Man rides, I’m in! :jump: :jump:

[kenwoodallpromos]

How about you start by posting info on entries and results whenever one of our member's current horses runs?

[northerndancer]

I maintain quite a few racing partnerships in both thoroughbred and standardbred racing. The horses race at various tracks throughout North America. The horses tend to run at Slot revenue tracks. Most of the horses are claimers and lifetime allowance horses.

I would offer the following advice for this type of entity:

1. One person makes the final decision. That person should try to have partners offer input and advice but ultimately that person is responsible for making the decision;
2. An overall goal has to be agreed upon prior to getting into the activity so that all parties understand clearly what the direction will be;
3. The responsible party has to be willing to coordinate all license aspects for every partner. This is a very time consuming activity but a critical activity. I do not allow any of my partners to handle their respective owners license unless they are currently licensed;
4. The decision making individual has to be responsible for a monthly financial report with actual copies of every bill received in regard to the upkeep of the horse. Each partner needs to be informed as to what and where the funds are being expended;
5. I would recommend that the group put in enough capital to claim or purchase 2 horses. This will allow for one horse to go bad and still be in the game. Diversification of the risk;
6. Spend no more than 75% of the capital raised on horse inventory this will allow you 25% of the capital to cover expenses. The last thing you want to do is ask new owners to cough up more dollars for the carrying costs of the animal. Therefore if you raise $40,000 spend $30,000 on horse flesh and leave $10,000 for expenses of that horse flesh;
7. On average it will cost $2,000 - $2,500 a month for training, $150 a month for blacksmith, $500 a month vet and $300 a month miscellaneous for each horse;
8. Do not purchase mortality insurance on the claiming horses;
9. Do not have the trainer as a partner. You will become a hostage to the trainer;
10. No trainer deals (reduced day rate for an increased percentage of the purses earned);

I always enjoy having partners it makes the victories that much sweeter and the defeats are easier to handle and get past.

I would be interested if the overall parameters of the entity were appropriate.

[toetoe]

I vote for the little guy as rider, Derek as trainer, and Light and myself as alternating stallmuckers. :jump: