Saratoga Racing Club: The Details
Below are the details of the Racing Club Partnership, including estimated expenses, pricing and FAQ's. If interested in joining us, please reach out to Joe Tartaglia (Joe@LittleBlueBirdStables.com) or sign up below.
Costs & Pricing
Budget for Sale
Training, Vet, Shipping Expenses (through 2024)
Mortality & Colic Insurance
LBB Stables Management Fee (10%)
Total Budget:
$40,000
$50,000
$2,500
$9,000
$101,500
50 Units Available at $2,600/per share
SRC Shares Remaining: 17
Frequently Asked Questions
When will claims be made?
We're looking to begin the claiming process in April. This gives us a couple of months to raise capital, start looking through condition books for NY, and start preparing for the summer.
How will our claim budget be used?
We never like limiting ourselves in terms of budgets on individual claims. With a total budget of $70K, we have some flexibility in the way we spend it. If we find a horse with some value at the lower end ($20K-ish), that would leave us with more to look for a more promising claim as our second horse. We want versatility, we want race options, we want upside. We'll do this while still being deliberate and patient. It will also be a collaborative effort, with weekly emails outlining claim targets and rational - all feedback is welcomed.
How much are monthly expenses?
On average, our expenses per horse/per month in NY is about $3,600-$4,000. Our current Training & Vet Expenses budget of $45,000 will take the Partnership through at least five months. This means the Partnership is covered through September of 2023 at the earliest. Our goal is to use our horse's earnings over the first 4-5 months to offset future expenses, and ideally build a surplus for disbursement back to our Partners.
When will there be cash disbursements?
To best manage the overall Partnership, we will always look to retain a minimum of $30,000, and maximum of $40,000 to cover expenses. Any surplus above that amount will be disbursed back to our Partners on a per share basis.
What would happen if our horses don't earn in first few months?
If we're not able to earn enough to cover expenses over first 5-6 months of racing, we'll do monthly capital calls to build up funds. If any of our horses are under-performing, we'll also work as a team to consider proper liquidation to rebuild funds.
Can I sell my share to another party?
Transfers of Ownership Interests will be subject to restrictions set forth in the Operating Agreement. Any Partner desiring to sell an Ownership Interest shall first give the Co-Partners a right of first refusal to purchase such Ownership Interest on the same terms and conditions as offered to any third party
When does the Partnership end?
The Racing Club Partnership ends when both horses are liquidated or retired. LBB Stables will have the authority to handle all matters relating to ownership of the Thoroughbreds including matters relating to the acquisition, training, racing, care, maintenance, breeding or sale of the Thoroughbreds; provided, however, that the following decisions will require majority vote of the Partners: a) retirement of a Thoroughbred from racing; b) sale or final disposition of a Thoroughbred. At that point, LBB Stables will provide a full Partnership Summary and provide cash-out options for all Partners.
Join the Club
For more information about the 2023 Saratoga Racing Club...