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Thursday, September 14, 2006

thoroughbred owners' questions

When I first posted this blog, in 2006, it had not attracted any outside comments but I did receive several emails from people who said they want to own racehorses and they have so many questions. So after answering a bunch of these emails I decided I should post these questions and answers in the blog. So that's what you will see here. Please feel free to jump in and correct my answers or add your own views on the subjects discussed.

? I am writing to you in hopes of finding someone who can work with me on my road to becoming an owner of a quality throughbred race horse. It appears to me that trying to get information about who can supply a solid race horse along with trainer and other information is kept out of general public's grasp I am interested in finding out more and hope that it leads to ownership with a team of needed people ( trainers, jockey, etc ) in my corner.

- If you'd like me to recommend some other advisors or trainers, I'd be happy to suggest some that I know are honest, ethical, knowledgable horsemen. A half and half partnership with a good trainer as part owner or with a couple of that trainer's other owners who will educate you along the way would be a good option.

It is not a good idea to try to buy or claim a horse on your own, a trainer's help and recommendation is essential, and it has to be a trainer who has a good reputation for honesty, integrity, and horsemanship. Your first step is really to find a trainer who you can get along with and trust. The thing to do is to ask the racing office to give your name and number to the trainers you want to talk to so they can choose whether to call you back.

Most owners don't get to see their horses in person very often, maybe just the occasional Saturday morning during training, and of course on race day. To keep up with their horses, owners get regular email or phone updates from the trainer, you would let the trainer know how often you would expect an update - the regularity of updates from the trainer is one thing to make sure you and the trainer agree on before you pick a trainer.

Jere will be keen to offer training services when we get back to the states, but for now we're in Saudi Arabia at least through March 2009. We would also be available to help you pick a horse to buy privately or to claim when we get back in town, but for now it would be best to pick a trainer first, make sure you see eye to eye and that trainer is willing to educate you, and work with your trainer to pick out a horse.

Whether you do a partnership or not really depends on your budget. Plan on $15,000-$30,000/year for expenses related to owning a horse by yourself, in addition to the initial purchase price (upkeep often costs more than the horse itself). Splitting the costs between partners lessens the risk of the investment.

7 comments:

Bavarian Stables said...

My name is Paul Schmidt and I am the managing partner for Bavarian Stables, www.bavarianstables.com
I am looking for partners who want to invest 1000 to 5000 initial investment for 10% of a race horse. Our partnership is UNLIKE any other in that we have NO markups or management fees. We win a 30K purse your 10% nets you 3K same with the bills. Check our website for details or contact me at 502 777 2272.

Amy said...

from Scott Kassen,

I was browsing your site and thought you might like to have a Trainers perspective on things.

1. You are right most Trainers do not want to spend the time with wannabe's. I however Will.
2. I am willing to teach new owners the ins and outs of being an owner.
3. I will take the time to get them " Involved" in the training process.

I am not saying I am willing to explain every finite detail. But I will educate in Why some things are done the way they are. And keep owners in the loop as to why their horse is or is not at a level they expect. Not all horses are Stakes class, or Allowance class. Some are not even good enough to be claimers. And I will explain why when needed.

I race at Turfway park in Kentucky, Churchill Downs, The Fairgrounds in La. Soon to be at Arlington Park and Keeneland. I hope. Finding a horse that will preform at this level is difficult at best. Many things are to be taken into account. Like Breeding, past performances if any, etc.

I evaluate each horse I train for 1 month. By the end of 1 month I can get an idea of what class horse I am working with.

My "Day Rate" is the same for claimers up through Stakes class. $65.00 per day is VERY fair. Here is a breakdown of costs and coverages -
- Groom gets $125.00 per week salary to clean the stall, feed and water and bathe the horse, they also do the "leg work" like poultices and bandaging, ice soaks etc.
- Hot walker gets $5.00 per horse walked per day. And $40.00 to walk a race.
- It costs approx $15.00 per day to feed and bed a horse.
- Exercise riders get $10.00 per horse per day. Pony people get $10.00 as well if you use one.
- Race day is an extra cost usually around $25.00
- Then the small amount left over goes to the Trainer. Trainers make their money in the winners circle. Usually 10% of the Win purse 10% of a 2nd and 5% of 3rd.

So to win is a BIG Incentive. Anyway to keep it short, the cost to own a horse in training runs about $2,500.00 per month. Give or take. Some trainers charge as much as $125.00 per day plus expenses.
Expenses are generally everything not covered in the day rate like transportation, Vet, Blacksmith aka Farrier. Jockey fees, pony fees, medications, special supplements, Dentist, Etc.

So if someone is Indeed interested in owning and racing a Throughbred horse, or you have a horse that needs a trainer...Please contact me: scottkassen@hotmail.com
Or by phone; 513-734-1916 I will do my best to help you and your horse.
Sincerely
Scott Kassen
Kassen Racing Stable L.L.C.

Anonymous said...

Is this the Scott that has my Horse Slew's Tea Rosa?

Butchyboy said...

Hello from good ol' US soil!
Hi Amy. As you may tell by my post name that I am born, raised and will die an Irishman. My family has been involved with horses for many years (Christiana Stables on the Eastern Shore of DE/MD) I am a great nephew to Bayard Sharp and the reason I am r posting this is to tell you that if you are looking to start back in the states, Delaware Park is probably on helluva place to do it. Short fields have given management strong incentive to be more favorable to the horsemen/women on the backstretch and since steriods should be universally banned next year in the US, it doesn't matter that De and PA have a ban. Purses are once again in the upper third of the nation and if you like to run fillies/mares, DE Park has some of the best races and is centrally located between NY and Virginia to West Virginia all within no more than 3 hours. With this said, I too, have worked every job in the business (after 8 years in USAF Special Forces) and now am going into the insurance end of the game. There is no winning or losing and THAT is the hardest part to find in THIS business. Good Luck on your endeavour and I hope that someday you'll return and have great success.

Carrie said...

My name is Carrie, while racing has recently become a big part of my life, horses have always been in my life! I have ridden horses for the past 12 years and just recently became an excercise rider for Dave Anderson Race Horses here in Nebraska. While the job can be pretty tough at times, I love it! I have also recently fallen in love with one of the two year olds who we are about to start excersizing...now it's just convincing my husband to invest in him! ;)

Anonymous said...

I am trying to reach the owners of a horse called "Chubby". I have a painting for them.

Tavner said...

PowerLines:

I have a web site at thoroughbredracehorsebreeding.com
I assist new owners or "wannabes" in identifying horses with excellent racing pedigrees that may have been passed over due to the lack of "popularity of the stud or mare. I advise on the ins and outs of the game and give the owner insight on the costs and expectations owners should have at the different levels of racing and sales.

My fees are success based. If you do not make money at a sale or have a stakes win, I don't make money.

sign up on the web site and we will talk about the industry and how it works.