An Introduction to Thoroughbred Ownership
Thoroughbred racing is a business like no other. Nothing short of owning a professional sports team can match the prestige, excitement and exhilaration of standing in the winners circle with one of your horses. Kenwood Racing’s unique “co-ownership” program offers buyers an ownership experience, for a one-time payment of approximately $5,000 - $10,000 with no additional expenses of any kind. Co-Owners share in the cash flow (race purses, sale of horses, state owners’ and breeders’ awards, etc.) while enjoying all the pleasure, perks and camaraderie of thoroughbred ownership. For about the same price (or less) as season tickets to basketball/football/baseball games, or memberships in golf/tennis clubs, you can be an owner instead of a spectator!
How it works:
Kenwood Racing packages a horse or a small group of horses (typically 2 or 3) and provides full management for a group of "co-owners" (i.e. entering horses in various races, day to day care and management, etc.). A 5% Co-Ownership interest would give the Co-Owner 5% of any profits or losses the horse(s) collectively produce from the time the interest is purchased until such time as the last horse is sold or retired from racing. Under no circumstances is a Co-Owner ever required to contribute additional money beyond the initial payment. If expenses exceed income by more then the amount the Co-Owner initially paid, Kenwood absorbs the additional loss. Kenwood invests our own money to purchase these horses, sells them without mark-ups and retains a substantial ownership interest in them with our own capital, so our interests are firmly aligned with the Co-Owners. Under Kenwood's Taste of Thoroughbred Ownership® program, Kenwood manages and enters your horses into races for you. Once all of the above horses have been sold/retired, Kenwood provides each Co-Owner with an accounting of all income and expenses, along with payment for the value of their interest according to the terms of our management agreement.
Just to offer a little perspective, most racing ‘syndicates’ typically sell interests in horses they purchase at a marked up price. That’s easy to do; buy a horse for $50,000, sell 10 interests for $10,000 each, and earn a nice profit. It’s not difficult to find a horse to market to buyers; if you are selling it at a guaranteed profit for yourself, there’s no need to be too picky. In our case, with our own money invested in every horse we offer to potential Co-Owners, we are very selective about what we purchase!
Many people ask "what about the training, vet, board, vanning and other bills associated with ownership that syndicates charge"? With our program, there are abosultely NO bills or other payments to be made after the initial one-time payment. When the group ends, the bills come out of the initial payment you made, but you can NEVER be required to pay any additional funds.
We frequently package several horses together, much as it’s less convenient for us, because we believe that in a high risk business people are far better served by spreading the risk among a group of horses. Our Co-Ownership program is unique in the industry and our large number of current Co-Owners are our best references (ask us for names and contact information and speak to them directly). Our focus is on managing horses for owners in a businesslike manner, putting the welfare of our co-owners and our horses first!