Quote:
Originally Posted by onefast99
Very nice those pictures last a lifetime! So a quick question once all the dust settles what does one actually get from a win like that check wise? I only ask because it seems as if the guys that run those syndicates add in a lot of "costs" that as an owner I couldn't stomach if my trainer did that. But I am sure there are good explanations for those "service" fees.
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I didn't check with my daughter as to the financials on the deal or tax implications. I do know there are 100 shares, and she owns one. There are a total of 40 owners, so obviously some owners have more than one share, and WinStar may have kept some for themselves. I also know that it's a one-year closed-end lease on 10 female horses of racing age, and my daughter pays a fixed monthly amount. Not sure if she'll get a monthly statement or at the end of the year.
The winner's share of the purse was around $30,000, so there's that in the bank, but the syndicate was capitalized with many times that so I wish the members luck getting a decent return.
