Joe Woodward Heads To Penn National

[Charli125]

Originally Posted by proximity

if i'm understanding his website correctly, so far kaleidostar has been profitable for the year??

$4000 for 100% ownership + $18000 ($2000 X 9mos)=$22,000 expenses vs $22,020 earnings for a profit of $20??? or am i paying the jockey and trainer out of the earnings??

You pay the jockey and trainer out of the earnings. Without going into specifics, no, you wouldn't be profitable.

Originally Posted by proximity

another for dummies question about this kind of arrangement....

say i buy 25% of kaleidostar, bob owns 25%, and two other people own 25% each. now say the two other people suddenly drop out? does the main partner (bob) normally pick up the remaining 50% or would we each own 50% and my expenses would proportionally increase??

That would be an odd case because people can't just "drop out". Once you own a piece of the horse, you're liable for the expenses unless you can offload those shares.

[proximity]

so with a win tonight he'd be 3/8 on the year with a + roi of about 4-5% on your 22k?

[Charli125]

Originally Posted by proximity

so with a win tonight he'd be 3/8 on the year with a + roi of about 4-5% on your 22k?

I see career earnings of 36,660. Not sure where the rest of your numbers come from though, so I'm not going to comment.

[proximity]

i was calculating for 2011 and assuming $4000 claiming price. i guess if the initial price was $5000, that extra $1000 would wipe out all the profits with a win tonight.

thanks for sharing your experiences btw.

[Charli125]

Originally Posted by proximity

i was calculating for 2011 and assuming $4000 claiming price. i guess if the initial price was $5000, that extra $1000 would wipe out all the profits with a win tonight.

thanks for sharing your experiences btw.

Gotcha. You were assuming 4K purchase price, 2K per month expenses, etc. I didn't see that part the first time through.

[forced89]

Originally Posted by proximity

another for dummies question about this kind of arrangement....

say i buy 25% of kaleidostar, bob owns 25%, and two other people own 25% each. now say the two other people suddenly drop out? does the main partner (bob) normally pick up the remaining 50% or would we each own 50% and my expenses would proportionally increase??

I have no idea what the Partnership Agreement says but my guess is that you would still own your 25% and the the Partnership Manager would hold on to the forfeited 50% until he could sell it (of give it away) to someone else.

[Mineshaft]

the horse was scratched tonite

[Shemp Howard]

Originally Posted by proximity

i do see in the morning paper that the "you only live once" has apparently replaced the "bubble" thing.

tonight he's running an interesting horse kaleidostar in the 4th that the trainer seemed to be making some progress with back in april (moss figures in low 90s). if the horse is ok he may be able to win some at ct with his ability/turn times. the horse only has 14 starts. 6f might be too far vs horses with 5+ wins though. and of course, i'd call tonyk and get a.r. riding!!

That horse was raced 4 times in 5 weeks back in Jan-Feb on the frozen Pen track. Has only been able to race three times in the next 6 months, winless, of course. (6/99)

[proximity]

Originally Posted by Mineshaft

the horse was scratched tonite

i drive through (another) flood to get there to drop the slip and then have to wait in a line like frank pantangeli in godfather 2 to get a sit down at tonyk's table!!

[Shemp Howard]

Originally Posted by proximity

i drive through (another) flood to get there to drop the slip and then have to wait in a line like frank pantangeli in godfather 2 to get a sit down at tonyk's table!!

Those damn Rosato Brothers. Did they give you a Franklin for your trouble?

[proximity]

Originally Posted by Shemp Howard

Those damn Rosato Brothers. Did they give you a Franklin for your trouble?

that nobody there asked me to "borrow" a jackson is a penn national rarity!!

[Mineshaft]

Originally Posted by Shemp Howard

That horse was raced 4 times in 5 weeks back in Jan-Feb on the frozen Pen track. Has only been able to race three times in the next 6 months, winless, of course. (6/99)

6/99 they might want to get a new trainer or some new horses.

[Shemp Howard]

I think fortunes will improve once all the Parx/Delaware/Laurel shippers start bypassing the dump in Grantville for those uber-subsidised purses at Aqueduct . Back to the 4/5 horse fields against the same horses every condition book will turn any sows ear of a stable into a 10% winner.

[Mineshaft]

Woodward runs his first horse tomorrow nite at Penn

[Citation1947]

Sounds like more "Business as Usual" at Penn!!