The Making of a Champion Thoroughbred: A Race Horse Owner’s Blog - Entry 9

dedewhale's picture

Shiny Gift Wrapping

Creating a partnership which attracts investors/partners is a very tricky thing normally, throw in a recession/depression this process becomes that much more difficult. So this year my team has to get creative.

Fact: We have two 2 year olds which we need to attract partners.

Fact: We have 4 partners in our breeding partnership who can’t afford training bills on 2 horses alone.

So knowing these truths we have been spending the better part of the last 3 months brainstorming ideas on how to attract investors from past partnerships and new ones from the great ether called word of mouth or the internet. This topic led to many disagreements. While we wanted to create a partnership consisting only of the two babies, we were not getting much feedback in the positive. A sign of the times people don’t have the money to wait 6 months or longer for all the horses to run. So we came up with the brilliant idea of coupling the babies with a claimer. Hopefully the claimer will not only keep people attention with action now but maybe even get some checks to pay the bills.

We new that we had to keep the price per share down as not to price out partners…. But quickly we figured out it would be impossible to include three horses for this low of a price. We decided that we would take Karma and couple her with the claimer for our first offering in 2009

Pete who is making great progress we be kept in training, and wait until later in the year and offer him in his own partnership, maybe even couple with another claimer. While this adds some risk to our investment, we may increase interest in him as he matures and people see our current partnership winning.

Yay, we finally have a plan. With this behind us, a rare opportunity appeared via private purchase. Our managing partner was talking to a blood stock agent who knew of a NJ bred running in California who was for sale. This horse was in over his head in California and if someone could afford to bring him back to Jersey he probably could compete at a very high level (since the competition is lesser).

I won’t mention the horses name yet until he arrives safely at our barn but he ran in 11 stakes races over his young career and one two, most recently he went into claiming ranks and has been dropping.

Well this exciting partnership with this new horse and Karma has many of our ex partners very excited and we went from have 1 potential partner to 8. Yes 8….we now don’t have enough shares available to people and created a great sense of buzz around our group. So now we may even have partners for Pete’s group later on. I must say we live in a strange world….and packaging is everything. I am so glad things are working out because I got to tell you a was getting majorly stressed.

Well I am off to noCAL for business and when I return I hope our newest horse is already here. When he does arrive I will tell you more about him.

Dedewhale

Comments

ronwar's picture

Congrats! Things are

Congrats! Things are looking up!

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May they all come home safely!!!

soundofrum's picture

Horse racing business

Everything sounds so exciting, Dede, although I understand the expenses and frustrations and delays in this business. I have a book that I bought several years ago that goes into all of the details on racehorse ownership and all that you're going through now. It's upstairs with my other racehorse books. I'll look for it tomorrow and give the title. In our area I've noticed a lot of good claimers that are from foreign country's that win their fare share and usually at lucrative odds. I wouldn't mind getting one of those horses. It used to be that you had to own and have one horse stabled at the track before a trainer could make the claim for you. Not sure what the rules are now, today. Many are from Argentina. I'm curious as to how anyone could go so far away and bring these horses to the San Francisco area. I'm aware that many of these South American race horses run in Stakes competition in their country, but that usually the class of these horses is of lower quality to our Stakes horses back home. I'm left thinking that these are the ones that are showing up at Golden Gate Fields. During my handicapping, I take these horses very seriously. Especially in exotic betting wagers.
I hope that California horse turns out to be a good one for your partnership. I know you always have to wonder about his/her legs and whether or not there's a problem. I hope this is not the case. If you want to end up with a good claimer from G.G.Fields, pay close attention to Jerry Hollendorfer. He's so successful because of his claiming strategy.

dedewhale's picture

actually this horse was

actually this horse was running in SoCal circuit. We bought him via private purchase and did not claim so we got the chance to vet the horse. He is in very good health....he has one knee that gets warm and needs to be cooled after the race but in all in terrific shape for a 5 year old.

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