Banjo Gold entering the Paddock at Penn National for his first Race
Racing Partnerships
Q: Where do the horses come from to form the Racing Partnership ?
A: The Horses used in our Racing Partnerships are Pennsylvania Homebreds that are Bred and raised by American Classic Thoroughbreds threw our Breeding Program Broodmares that are owed by us . Occasionaly we may acquire a horse threw Private Sale or Auction House such as Fasig Tipton in Maryland .
Q: How does a person get involved in one of the Racing Partnerships offered ?
A: American Classic Thoroughbreds sells its Racing Partnerships by Units . The smallest Unit is 1 Unit . You would have to purchase the amout of Units you would like to own threw one of our Portfolio's offered on each Racing Partnership .
Q: Does a Member involved in a Thoroughbred Racehorse Partnership need to be Licensed ?
A: Yes and No . Depending on the amount of Units owed by a Member really determines weather he or she needs a License . In Pennsylvania a Member Owning 4 units or less doesn't need to be Licensed but they don't have the same privileges as a Licensed Owner . If a Member Owns 5 Units or more he or she must Obtain a Racing License that American Classic Thoroughbreds will assist them in acquring one . When you purchase a License in Pennsylvania they are good for 3 years . Other Juristrictions defer in obtaining a License .
Q: What are the Negative (1A) and Postive (2A) Financial Risk's involved in a Racing Partnership ?
1A: Thoroughbred Horse Racing is very Speculative and Risky . A Member Risk Losing all or a Portion of his or her investment in a Thoroughbred Racing Venture . The Horse may never reach its full potential because of various reasons . The Thoroughbred Racehorse may fail because of Injury , Sickness , Death , or its Performance Abilities are Limited causing the Thoroughbred Racehorse to earn no Money at all .
2A: Thoroughbred Horse Racing also has its Rewards . A Member involved has the oppurtunity to be able to join other Members in and Ownership Group where the Expenses and Risk are shared making it more affordable . A Licensed Member will be able to go to the Track in the morning and watch His or Her Horse go thru its morning Workouts . A Licensed Member will also be able to go to the Backside Stabling Area to see its Horse and learn what goes on to get a Horse ready for a Race . A Licensed Owner also can take part in the Paddock Area where the horse is being Saddled for its Race and with a little Racing Luck finally stand with your Horse in the Winners Circle for your Win Picture .
Q: Are there any additional marked up expenses or managerial fees ?
A: No , American Classic Thoroughbreds does not charge its Members for any more then what is charged to it . Also there is no Managerial Fees if the horse doesn't make money then American Classic Thoroughbreds makes no money .
Q: Would there be any expense involved ?
A: Yes , You would be billed based upon the number of Racing Units owned . For example, for every Racing one Unit a person owns they will be billed $24.00 a month to cover the Training cost for his or her Racing Interest . The $24.00 a month that the Racing Partner would be paying monthly would reflect on there K-1 that you would recieve for your Taxes which may be potentially used as a tax deduction . You should address this with you Accountant or Tax Advisor for the proper advise .
Q: What are some of the expenses involved ?
A: As an example, some of the expenses which your portion of the bill would cover are board, insurance, training, transportation, and veterinary, blacksmith, and denetistry, fees. A full breakdown is in our racing partnership packages.
Q: Who will manage the racing partnership ?
A: American Classic Thoroughbreds will make the day to day management decisions of the racing partnership, but there will be times when the partnership will be asked to vote on certain things.
Q: How will I be informed of what's happening in the racing partnership ?
A: We will try to keep everyone abreast of what's going on in the partnership by communicating via email, newsletters, and phone. We hope to sent emails every few weeks and contact partners by telephone at least once a month.
Q: Where will the racing partnership race ?
A: The Racing Partnership will do most of its racing in Pennsylvania. There is a great advantage to racing in Pennsylvania. With slots and casino gambling at Penn National Race Course , PARX Racing , and the new Presque Ilse Downs facility, purse's have dramatically increased . Also, there is a 30%, 40%, and 50% Owner's Bonus Award given to a Pennsylvania bred horse competing in Pennsylvania . This means that a partnership horse that finishes First, Second or Third at a Pennsylvania track will earn an additional amount of purse money which will then be divided by the Partnership.
