The $12M Pegasus World Cup Thread

[ribjig]

https://en.wikipedia.org/wiki/Pegasus_World_Cup

Someone. Please. Explain the (12) $1M "slots".

They're all already bought. They can be sold, leased, etc.
Are they a form of investment? Like a PP condo?
Buy one for $1M, sell it a few years later for $2M?
Some holders listed as individuals.
Were there prequalifications? Only industry insiders...?

NOTE: this thread about ANY aspect of $12MPWC...

PP condo PP condo PP condo PP condo PP condo

[cj]

I think you are only buying a starting spot for one year and one year only. Most of those that bought them don't even own horses. My guess is we never see a second one after this year, but I could be wrong. Maybe a Chrome / Arrogate match up will save it for a year. But who is going to buy into a slot to face those two?

[SG4]

Originally Posted by cj

I think you are only buying a starting spot for one year and one year only. Most of those that bought them don't even own horses. My guess is we never see a second one after this year, but I could be wrong. Maybe a Chrome / Arrogate match up will save it for a year. But who is going to buy into a slot to face those two?

I think owners of the spots currently get right of first refusal to buy back in next go round, so if this somehow proves successful being in on the ground floor could be useful that way.

[Spalding No!]

1) California Chrome (CC Inc)
2) Frank Conversation (Reddam Racing)
3) Tequila Joe (Jerry Frankel)
4) Runhappy (Jim McIngvale)
5) Highland Reel (Coolmore)
6) Take The Stand (Earl Mack)
7) Uncle Vinny (Starlight Stables)
8) (Dan Schafer)
9) Shaman Ghost (Adena Springs)
10) WV Jetsetter (Reeves Thoroughbreds) * oh wait, media darling Ritvo dumped that graded stakes placed stakes winner from allowance/stakes races straight to $4k at Belterra Park last month, so he probably won't show up (anywhere)
11) (Rosedown Racing)
12) War Envoy (Ruis Racing)

[nearco]

What would make this more interesting is if one entrant could buy weight from another entrant. Like you offer the owners of Chrome $500k for a 7lb break in the weights etc for your horse or something like that.

[nearco]

Surely there is no way that McIngvale is going to run Runhappy in this race after last weekend.

I think there might be slots sold at a deep discount come late Dec/early Jan. Might even pick up one on Craigslist the day before for dirt cheap.

[cj]

Originally Posted by nearco

Surely there is no way that McIngvale is going to run Runhappy in this race after last weekend.

I think there might be slots sold at a deep discount come late Dec/early Jan. Might even pick up one on Craigslist the day before for dirt cheap.

Exactly, depending on which others show up nobody will want to buy them.

To be clear on this race, the last place finisher gets back 250k, so it isn't really a million dollar buy in.

[JustRalph]

When?

It's at Gulfstream right?

[VigorsTheGrey]

Is there a condition book that might explain things and break out what will be returned to each placing, I assume on some form of graduated scale?

Glad Highland Reel is in...At least Chrome will have a rabbit to chase...might even get beat by the rabbit....! What if both Chrome AND Arrogate rate, then close into the race? Who wins then?

[JustRalph]

http://www.bloodhorse.com/horse-raci...asus-world-cup

Found it

[Redboard]

Amusing interview of one of the owners who bought into it by Steve Haskin from last month. Apparently the guy felt it was cheaper than buying several yearlings at the bloodstock sales.

http://cs.bloodhorse.com/blogs/horse...gasus-cup.aspx

At any event it will give us SOMETING to talk about. Usually at this time of year things go into hibernation.

[therussmeister]

Originally Posted by nearco

What would make this more interesting is if one entrant could buy weight from another entrant. Like you offer the owners of Chrome $500k for a 7lb break in the weights etc for your horse or something like that.

If you are buying weight you should have to pay the owners of all the other horses, not just the favorite. I think they should be able to buy post positions.

[onefast99]

Originally Posted by ribjig

https://en.wikipedia.org/wiki/Pegasus_World_Cup

Someone. Please. Explain the (12) $1M "slots".

They're all already bought. They can be sold, leased, etc.
Are they a form of investment? Like a PP condo?
Buy one for $1M, sell it a few years later for $2M?
Some holders listed as individuals.
Were there prequalifications? Only industry insiders...?

NOTE: this thread about ANY aspect of $12MPWC...

PP condo PP condo PP condo PP condo PP condo

The entrant can then “race, lease, contract, or share a starter, or sell their place in the starting gate. All entrants will not only be competing for the world’s purse, but they will also share equally in 100 percent of the net income from [betting] handle, media rights and sponsorships” from the race.

[onefast99]

Originally Posted by cj

Exactly, depending on which others show up nobody will want to buy them.

To be clear on this race, the last place finisher gets back 250k, so it isn't really a million dollar buy in.

The slot cost $1m, the handle will also be divided up between the 12 players as well as sales of merchandise directly related to the Pegasus. If you look at it as a risk and you will lose a portion of your investment then you arent the person who would or did buy the slot. One just changed hands for $1,200,000 that is a 20% net profit, not bad!

[pele polo]

How does Gulfstream make money from this event if 100% of the handle is being split between the owners of the 12 slots?