Sugar Cane Stables: Next Generation Begins Training

Saturday, January 16, 2010

Next Generation Begins Training

BK's Glaring (Gray) & Captain James 06/09

Our next generation of racing prospects left the farm today to begin Phase I of their training. These two fine homebreds represent our first two prospects that were bred and raised at our farm. They both have very good conformation and strong, independent spirit.

Upon completion of Phase I, they will return to the farm for about 60 days to develop both mentally and physically before going to the track. We hope that they will both make their racing debuts mid-summer.

It has taken us a while to build our stable and are really proud of the foundation we've created for our ownership group. In 2010, we could have up to 4 horses running on a continuous basis.

For me personally this is like sending your kids off to college, "you hope they pass and go onto earn they keep, otherwise you just end up supporting them forever."

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Our Plan:

Provide a strategic, unique, long-term approach to Horse Racing Ownership. Unlike syndicates that involve the purchase of racing stock, markups, management fees, or pre-racing development costs. Investors will only be responsible for expenses associated with the actual track training of Sugar Cane Stables. Racing stock will be leased to Sugar Cane Stables for $1.00 all leases are for 90 days and must be renewed quarterly at the quarterly shareholder meetings. By not buying the racing prospect the overall risk is greatly diminished to our investors. Our commitment to investors is simply provide racing prospects without the upfront cost of horse ownership. Potential Estimated Monthly Maintenance and Training Costs

Potential Estimated Monthly Maintenance and Training Costs:

The approximate monthly costs for a 2-3 year-old horse in training break down as follows:

Trainer – $50 a day (called the “day rate”), approximately $1500 a month. This covers salaries for stable employees, worker’s comp, the trainer’s fee, and other professional costs. Trainers’ day rates vary.
Vet – $300 a month
Blacksmith – $200 a month
Stable Supplies – $100 a month
Vanning – $200 a month
Medication – $400 a month
Schooling, stable bonuses, and other miscellaneous costs – $80 a month

Additional Thoroughbred Expenses:

If the horse wins a purse in a race, the owner generally pays additional expenses out of those purse earnings. These expenses include:

Jockey Fees – these fees range according to the finish and usually are 10% of the purse for first; 5% of the purse for second and third; $90 for an unplaced mount.
Trainer’s Commission – 10% of all money earned by the horse (in addition to the daily rate).
Backstretch Pension –1% of the purse earned
Jockey Injury Fund –.7% of the purse earned
Backstretch Insurance and Jockey Club fee -- $15 per race
Barn Commission – a gratuity to the help at the barn, usually 2% of the purse.
Additional Fees – such as nomination expenses and entry fees.