Breed: Thoroughbred
Locations: Minnesota, Florida, California, Oklahoma, Illinois
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Race horse ownership is a challenging but very exciting endeavor. We try very hard to mitigate the challenge while maximizing the excitement. Please contact us for more information!
In Operation Since:
2007
Managing partner:
Ted L. Grevelis - had his first job in racing punching tickets at Pimlico Race Course in graduate school back in the 1980's. Started investing in horses in 2001, got more active in partnerships in 2005 and finally took the leap putting together the group that would claim Fizzy Pop in early 2007.
Additional Key players:
Our trainers:
Bernell Rhone - Canterbury Park Hall of Famer. Perenially on the leaderboard at Canterbury, Remington and Tampa Bay Downs. Excels in the claiming game, but has developed nice stakes horses as well.
Richie Scherer - In one of our new partnerships we will be buying a young horse with a couple of other owners in Ocala, Florida for a shot at the 'Big Horse". This horse will be sent to Richie Scherer, another excellent conditioner who has had at least on stakes winner every year in operation. Richie trains the Fairgrounds/Arlington Park circuit, but has won just about everywhere imaginable.
David Miller - (www.starofthenorthbloodstock.com) may be employed from time to time when we start looking at breeding and mating planning. David has helped breed winners not only from Minnesota, but in New York, Louisiana and elsewhere.
What kinds of horses do you target, for what kinds of races? What are the main goals of your partnerships?
Our primary goals - and they go hand in hand - are to be the best steward of our client's money as we can be and to make sure all partners feel involved and part of the action. While we have been successful so far in claiming horses, we are also looking at unraced two-year olds and taking an educated shot at the 'Home Run Horse'.
How is the managing partner compensated?
The manager partner is compensated on a fixed monthly basis per partnership as well as a percentage of earnings.
Who authorizes the various expenditures and how are the partners notified and billed?
The managing partner works with the trainer to authorize all partnership related expenditures. Quarterly statements are sent to the partners notifying them of profit or loss as applicable.
When income is recognized from purse money or sales, does this income flow directly to investors or is it maintained in an account to cover future expenses? At what point does the partnership settle up (monthly, quarterly or annually)? Is each partner provided a statement reflecting cash receipts and disbursements? How often?
Income is maintained in a partnership account until three months estimated expenses are banked. When that amount is exceded, partners will vote on whether they want to: receive a dividend; leave the money in the account to buy another horse; or defer the decision and let the money accumulate in the account.
Are racing and sales decisions made solely at the discretion of the managing partner?
Most racing decisions are made by the managing partner in conjunction with the trainer. Any decision to sell the horse outright would be brought to the partnership for a vote.
How do you keep your partners updated about their horses (Email, phone, website, online message board, etc.) and how often are they updated?
We have a blog that posts on average three times per week; an e-mail newsletter that goes out about every 10-days and each group is notified anytime there is news, a workout or entry via e-mail.
What sort of services and perks do you offer your partners? Stable Visits? Farm Visits? Help handling the licensing? Anything special you want to mention?
We can assist with licensing, stable visits and visits to the turn out farm should we have horses out there. Much of the fun for many partners is getting to know their horse as well as being in the walking ring and, of course, the winner's circle! We strive to get our partners to each - especially the winner's circle - as often as possible!
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