Questions to Ask (Yourself) About Horse Racing Partnerships
In previous Mojo
Newsletters, we’ve covered ownership tips,
having a passion for the sport, the hidden gems of being involved, and
benefits of racing partnerships. Now, let’s say,
you’re ready for the
next step—you want advice about joining a racing group.
There are four
fundamental questions that I recommend any person ask themselves when
considering a horse racing partnership. And, ironically, the
letters of each of those four things spells the main consideration on
mind: COST So, let’s get
Cost: How much
will you have to pay to participate?
first thing people want
to know is how much they will have to spend to get in the game.
addition to that, I recommend knowing how frequently you’ll have
to make contributions.
I also suggest you understand the percentage of ownership you’ll
the cost to participate.
The participation costs vary based on the objectives of the
running the racing group. Some may be as low as a $500 for
in a 4% share, while others could be $50,000 to $100,000 (plus monthly
for a 25% stake.
You need to make sure you understand what the outlay is before you get
involved, and how often you’ll have to make payments (if that's
part of the deal).
And, if you can’t afford it, then don’t do it.
The bottomline on this is: You can’t have fun if you
can’t pay the bill.
are the goals of the organization?
need to understand
the goals of the racing group.
These days, there are lots of horse racing partnerships all over the
each one has a different objective. Some only race at the highest
of the sport; some are content racing at the bottom level claiming; and
just fine operating in between. There’s nothing wrong with
any of these
activities because there’s plenty of room for everyone.
The sport needs/depends on participation at all levels because, simply
all of the bloodstock that’s racing is competitive at the highest
In fact, the majority of horses in training will only be competitive at
The things you have to consider are: What’s your
does the racing group you’re considering race at the level you
Service: What does the organization offer
in return for your patronage?
gentleman once told
me he participated in a group (once) that treated him like a
the organization kept the participants in the dark. And, when the
leader decided to communicate, he fed the participants a lot of crap.
Some groups take pride in keeping their participants informed.
groups suggest lavish amenities are included with their packages.
groups offer a little bit of everything. And, some groups just
their act together (at all) when it comes to providing basic customer
It’s important for you to decide what are your expectations of
service; do your
homework; ask a lot of questions; evaluate the responses; and, then,
which group is right for you.
Terms and Conditions: Does the organization
put the offer in writing for you to review in advance?
anything, remember this: If it ain’t in writing, then
don’t get involved.
There are a lot of deals made based on a verbal agreement. And,
fine when everything runs smoothly. Problems occur when things
according to plan and/or large sums of money are involved.
Having terms and conditions for an agreement protects you, and it also
the organization. Written agreements, though cumbersome to deal
times, are the ground rules by which the organization is managed.
outline what you owe and how often you will be required to pay.
define what you may get in return for your investment. Written
also serve as the basis for the way disputes (internally or externally)
The terms and conditions come in different formats: They can be written
single bullet-point list of do’s and don’ts, or they may be
included in a
lengthy multi-page document with a formal signature page that has to be
and returned in order for participation to take place.
There aren’t any laws or regulations (in the United States) that
say a written
agreement is required in order for racing partnership services to be
for people to participate. Having a written agreement is just a
idea for any participant so they have the key points of the offer
in advance, in order to understand what they are entering into with the
organization. Otherwise, it’s one person’s word
against another without
any proof of what they agreed to in the first place.
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Thoroughbred racing and the best ways to become part of the action.
Mojo Thoroughbred Holdings, LLC (which conducts its racing
operations as Mojo Racing Partners) is based in Fort Worth, TX and was
formed in 2006. Since then, Mojo has raced at Arlington Park,
Churchill Downs, Indiana Downs, Keeneland, Kentucky Downs, Lone Star
Park, Remington Park, and Turfway Park.
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