http://www.summithorseracing.com
Breed: Thoroughbred
Locations: California
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Summit Racing LLC is a Thoroughbred racing syndicate that will consist of race-ready horses acquired primarily through private purchases. A small percentage of runners will be acquired through claims or bought in 2-year-old training sales.
Management: The syndicate will be managed by Brett Lindenbaum and Bob Ike, based out of a home office in Beverly Hills, California.
In Operation Since:
2008
Managing partner:
BRETT LINDENBAUM: One of the West Coast’s top bloodstock agents over the past five years, Lindenbaum has recommended and assisted in the purchase of such top horses as Tough Tiz’s Sis, multiple Grade I winning filly; Cry and Catch Me, Grade I winning filly at age two; Sinister Minister, winner of the 2006 Blue Grass Stakes; Downthedustyroad, Grade I winning Arkansas-bred filly; and Behindathebar, Grade II winner of the 2008 Lexington Stakes. Lindenbaum will utilize his excellent personal and business relationships with top trainers such as Bob Baffert as he continues to find and purchase future stakes stars for Summit Racing LLC.
BOB IKE: Although new to the syndicate/bloodstock business, Ike has been one of Southern California’s top public handicappers for over 23 years. Widely published in newspapers, Ike also co-hosts the “Thoroughbred Los Angeles” radio show, serves as a handicapping host for the Del Mar satellite television show and runs his personal website (BobIkePicks.com). Known for his keen ability to watch races and break down video, Ike helps bring a strong 1-2 punch to Summit Racing LLC’s horse evaluation process.
Additional Key players:
Our primary trainer and “go-to guy” will be Bob Baffert, having established an excellent personal and business relationship with him over the past four years. Recommended private purchases such as Tough Tiz’s Sis, Sinister Minister, Cry and Catch Me, and Downthedustyroad developed into Grade I winners under Baffert’s expert handling.
What kinds of horses do you target, for what kinds of races? What are the main goals of your partnerships?
Summit Racing LLC is a Thoroughbred racing syndicate that consists of race-ready horses acquired primarily through private purchases. A small percentage of runners will be acquired through claims or bought in 2-year-old training sales.
Buying Strategy: Purchase horses with untapped potential and place them with high-profile, winning trainers. Since broodmares offer incredible residual value, we will focus on building a strong line of fillies, which will enable us to continue earning profits after their racing careers have ended.
How is the managing partner compensated?
Managing partners are compensated through a small commission on purchase price and through a small equity percentage in each horse.
Who authorizes the various expenditures and how are the partners notified and billed?
Managing partners authorize expenditures. Syndicate members are notified accordingly, with bills sent out monthly.
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 business account. Syndicate members' expenses are billed monthly, with purse earnings also paid out monthly.
Are racing and sales decisions made solely at the discretion of the managing partner?
Yes, in consultation with syndicate members.
How do you keep your partners updated about their horses (Email, phone, website, online message board, etc.) and how often are they updated?
Members are kept updated regularly through phone calls and emails. In addition, our website is updated daily with race and workout information on our horses.
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 offer stable visits, morning workout attendance, as well as race day passes and seating.
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