http://www.westpointtb.com/
Breed: Thoroughbred
Locations: New York, New Jersey, Kentucky, California, Pennsylvania, Florida, Louisiana, Delaware, Maryland, Indiana
Average Review (5)
West Point Thoroughbreds develops and manages racing partnerships across the United States which provide individuals unique opportunities to fulfill their dreams of owning a Thoroughbred racehorse and competing at the highest levels of the sport. We give our Partners access to a level of the game that would otherwise be unavailable to them, and use our unparalleled institutional knowledge and customer service to provide an insider experience which is positive and memorable every step of the way to the Winner’s Circle.
In Operation Since:
1991
Managing partner:
West Point Thoroughbreds, Inc. serves as the managing partner for all our horses. Terry Finley is the Founder and President of West Point Thoroughbreds. A graduate of the U.S. Military Academy at West Point, Finley is a former Army Captain and Airborne Ranger who holds an MSBA from Boston University. A lifelong fan, he has been directly involved in the Thoroughbred industry for more than 25 years, gaining hands-on experience working with Thoroughbreds as a teenager and starting his initial racing partnership in 1991.
Dedicated to all facets of the industry, Finley also serves on numerous industry boards including the Breeders' Cup Board of Directors, NTRA Horse PAC Board of Directors, and NYTHA Board of Directors.
Additional Key players:
Josh Cooper is the Chief Operating Officer and Chief Financial Officer. He joined the company in 2004. Cooper is a Certified Public Accountant and Binghamton University graduate. The majority of his career experience is in public accounting, primarily with Deloitte & Touche LLP in New York City, where he serviced large Wall Street firms such as Bear Stearns and Merrill Lynch.
Debbie Finley is the Chief Administrative Officer and part owner of the business. She has been with the company since its formation in 1991. Debbie is responsible for the day to day administrative affairs of the company and each of its racing partnerships.
Baden P. “Buzz” Chace, Bloodstock Consultant
Dr. William Baker, Veterinary Consultant
Trainers: Craig Dollase, Carla Gaines, Mike Hushion, O.J. Jauregui, David McKathan, Kiaran McLaughlin, Bill Mott, Guadalupe Preciado, Dale Romans, Dallas Stewart, David Scanlon
What kinds of horses do you target, for what kinds of races? What are the main goals of your partnerships?
West Point Thoroughbreds puts the health and welfare of our horses first. We believe if you do right by the horse, the horse will do right by you.
We purchase several yearlings at public auctions each year to develop entirely within our program, though our primary focus is acquiring 2-year-olds in training at public auctions.
Quite simply, we race to win, and we provide a comprehensive service experience. Our horses are spotted where we believe they have the best chance at a winning performance in order to provide the optimal ownership experience for our partners. We compete at the highest levels of racing at the premiere race meets and races across North America.
How is the managing partner compensated?
Compensation is earned by reasonable mark up on the horse purchase price, percent of purse winnings, commission on the sale of a profitable horse, and a monthly management fee commencing in year two of the partnership. Interested and accredited investors are welcome to review a copy of our partnership agreement at any time by contacting our office.
Who authorizes the various expenditures and how are the partners notified and billed?
The managing partner ultimately has responsibility for authorizing expenditures. The manager reviews the profitability of each horse each quarter with the trainer. Partners are notified and are asked to vote on incurring an expense in excess of $50,000 prior to incurring the expense. Examples or those types of expenses include some stakes entry fees and stallion breeding seasons.
Our financial principles are grounded in straightforward, direct and transparent documentation and communication with our investors. Each horse partnership group is structured as an LLC, (Limited Liability Company.) Accounting summaries with detailed activity for the LLC are prepared on a quarterly basis and emailed (or sent regular mail if requested) to members. Interested and accredited investors are welcome to review a sample accounting statement by contacting our office.
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?
Distributions are typically made when there are excess funds in the account after projecting the next quarter’s expenses.
West Point Thoroughbreds provides partners full, accurate and timely quarterly reports and statements detailing the income and expenses for their horses. Each partner receives a Form K-1 annually to reflect their involvement in each horse, distributed within 60 days of the conclusion of the calendar year. Accounting summaries with detailed activity for the LLC are prepared on a quarterly basis and emailed (or sent regular mail if requested) to members. Interested and accredited investors are welcome to review a sample accounting statement by contacting our office.
Financial issues, including expenses and distributions, are thoroughly explained in the partnership agreement. Interested and accredited investors are welcome to review the partnership agreement by contacting our office.
Are racing and sales decisions made solely at the discretion of the managing partner?
Racing decisions are made by the managing partner after careful consultation with and recommendations from our trainers. We let our trainers do their jobs and rely on their expertise to advise us through daily updates and progress reports. Majority share interest consent is obtained from the partners before a horse is entered into a claiming race for the first time. It should be noted that we always welcome input from our partners in the decision making process and will carefully explain why and how certain decisions are made.
We consult with expert advisors regarding the private or public sale of our horses. If a reasonable offer to privately purchase a horse is offered, or if the managing partner recommends selling a horse at public auction, partners are notified and asked to vote on the sale. Majority share interest consent is obtained before a sale is executed.
How do you keep your partners updated about their horses (Email, phone, website, online message board, etc.) and how often are they updated?
The company's state-of-the-art website is updated almost daily with information and videos on individual horses, entries and results, workouts, the stable in general, and other relevant news. Partners access their personal equine portfolio through a private, password protected client section. Our communications and client service professionals directly update partners via a combination of email, text messaging, and phone calls. Exclusive partner conference calls are organized to share information and perspectives on horse, stable or industry specific topics.
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 provide full, open, and honest disclosure, and we believe we are the only Thoroughbred partnership organization to comply with SEC regulations regarding the offering and sale of securities. We seek fully informed and qualified individuals as members of our partnerships, and our documentation procedures ensure that prospects are well qualified.
West Point’s comprehensive ownership experience extends far beyond licensing assistance, race day track activities, paddock privileges, celebrations, seats and admissions.
We encourage and arrange for partners to visit their horses at the track in the mornings to take in the magic of the backside. Our trainers and consultants willingly interact with our partners because they understand our goals to educate our partners in the sport. Each year we host marquis events at our training facilities to showcase our new horse class. We invite and encourage partners to attend the sales to expand their level of knowledge.
We host social events which enable partners to develop friendships with other like-minded racing enthusiasts. New partners receive West Point merchandise to show their team affiliation.
We are extremely grateful to our partners because it is only with their support that we continue to build our institutional knowledge and expand the partners’ successes to higher levels.
West Point Thoroughbreds YouTube Channel:
REVIEWS
If you would like to leave a review, please click here. GAD, 1/20/10
We have been involved with West Point for over 4 years on 4 different horses. As the previous poster mentioned, their weekly communication is excellent. The partners involved in all 4 horses have been terrific and we have fun enjoying the horses. There is nothing like cheering on your horse to that winner's circle & we have been fortunate to get there many times with West Point, at the highest level of racing! I would highly recommend this experience to anyone - my closest friends have also gone in on West Point horses and thank me every time they see me.
KNM, 5/30/09
I have been involved with West Point for over 3 years, on two horses. I have found their communication to be consistent (weekly), realistic and up front. I had no grandiose expectations of making $ on this - as far as I was concerned I bought in to have fun and my money was down the toilet. The previous poster is incorrect - there is no 10% minimum purchase, in fact, you can possibly get in as low as 2.5% on some horses. One of our horses was claimed and the other one is a major stakes winner who has brought my family & me the thrills & dreams of a lifetime, and more than paid his way! We will be lifelong friends with some of the partners - a tremendous group of people, that all have the love of horses & horseracing in common - no matter what walk of life we all come from. The only concern would be that even though they continue to have a few horses reasonably priced for the "every day" person, their mark ups are getting higher & higher & may soon eliminate the "every day" person. Overall, I would whole heartedly recommend them, if you are going in with expectations to have fun, not necessarily make any money and leave your ego at the door (they do try to do what is best for the horse).
Troy Racki, 1/7/09
West Point offers only a limited thoroughbred selection as they only purchase and race two year olds. Two year olds are purchased at auction and are marked up approximately 30%. In addition the first year of training is also collected at initial purchase. So when you purchase a $250,000 horse about $50,000 is mark up and another $50,000 is for the first year of training. The earliest two year olds can race is April and West Point often does not run them that soon. Instead they hold off until later in the year so it can often be 7 or 8 months before your horse races. Also note that only 70% of all thoroughbreds actually start. When you purchse a two year old there's a decent possibility the horse will never run because some horses that look great flunk out of training when things start becoming taxing or pick up an injury because they are not sound enough. West Point does not offer any starter stastics so its hard to say wether they do better or worse at this.
West Point's minimum parter percentage is 10%. Horses range from $150,000 to $950,000 so some partners might be better off spending $15,000 on multiple outside partnerships rather than all their money on one horse.
I have not been an owner with West Point. I recommend due diligence. Gossip from Santa Anita management is concerning. I have also read blog entries on Hand Ride that give further concern about how monies are handled by this stable. I called West Point to talk to them about these issues and did not get far. I was told I was not a good candidate for West Point and hung up on before I could say goodbye.
JS, 1/2/08
Very happy with my relationship with West Point- they treated me great and they could not have been more helpful with every single one of my requests. I will never buy into a horse with anyone else!
BD 1/2/08
I could not be any more happy with my relationship with west point thoroughbreds. I own a piece of two racehorses and they have been just outstanding to work with-
I highly recommend them for anyone interested in racehorse ownership.
