You don’t have to be a millionaire to experience the excitement, the fun, and the thrill of owning a racehorse. Through syndicates, partnerships, and racing clubs, horse racing fans can own a share of a race horse and participate in the racing game. Of this year’s possible Kentucky Derby starters, several are owned by partnerships, and a horse named Seize the Grey, trained by D. Wayne Lukas, that recently ran in the Bluegrass Stakes at Keeneland, has hundreds of owners.
Owning a race horse is costly and includes the initial purchase price plus monthly costs for training, transportation, veterinary bills, blacksmith, and miscellaneous expenses. By owning a fractional share in a race horse, partners share in the costs and maintenance fees. Shares start as low as $100 and go up. As a share owner, the benefits include visiting the barn during training hours and watching the morning works, talking with the trainer and meeting the jockey or driver, and forming a personal bond with the horse. On race day, the owners gather in the paddock for saddling the horse and hopefully posing for a picture in the winner’s circle.
Pennsylvania’s lucrative breeder’s program attracts thoroughbred and standardbred owners and breeders to the state’s six race tracks where several racing partnerships are based. At Parx in Bensalem, PA, trainer Eddie Coletti Jr. trains for the successful Uptowncharlybrown Stud LLC. “Shares start at $500, and most of our horses are by the thoroughbred stallion Uptowncharlybrown, but we do buy some 2 year olds at the sales. It’s fun to bring new owners into the game and introduce them to racing,” said Eddie. “We just had someone buy several shares as a present for their relative, and they came to the races with their kids and had a great time. We’ve had a lot of success with our horses over the years, and Bob Hutt does a great job of keeping the owners informed by including them in emails and videos so they feel like their part of the team,” explained Eddie.
Bob Hutt, CEO of Uptowncharlybrown Stud LLC and current president of the PTHA (Pennsylvania Thoroughbred Horsemen’s Association), is also a producer of the hit Broadway play, “Back To The Future The Musical”. His passion for horse racing began when he was a teenager growing up in the Bronx and attended his first horse race at Monticello Raceway when he was sixteen. He bought his first race horse in 1985, and started his first racing partnership after his trainer and friend, the late Alan Seewald, suggested that he start a stable with two horses for ten partners. “Alan became my best friend and mentor. We were off and running, and now, we have over one hundred horses and five hundred partners. The price to get in one of our partnerships is $500, and for every 1% share the owner pays $200 each quarter to cover expenses. We don’t bill monthly like many other partnerships. We had a record year last year in 2023. We broke the record for combined PA breeder and stallion awards and won over $800,000. Horses lift your spirits, and our goal is to introduce people to horse racing in an affordable way so they can experience the thrill of winning a race. Of course, of the utmost importance is the safety of the horse,” explained Hutt. “What we do is a labor of love that helps keep Alan’s memory alive.”
Also based at Parx, Pewter Stable offers thoroughbred racing partnerships managed by the husband and wife team of Greg and Kate DeMasi, Kate is among the leading trainers at Parx and won over 1000 races. She was also elected to the Hall of Fame at Parx Racetrack in 2016. “We have been in business for over twenty five years, and our partnerships are straight forward. We offer a certain amount of shares in a horse, and the partners are billed monthly for the shared expenses. We don’t add markups or management fees either. We buy horses at the sales and sell shares in them without mark ups,” said Greg. “Partners are welcome to visit the barn and watch the horses train and talk with Kate. On race day, the owners enjoy a trip to the paddock, and hopefully a trip to the winner’s circle.”
Located at Penn National Race Track in Grantville, PA, Bush Racing Stable sells shares in thoroughbred claiming horses racing in the Mid Atlantic area. Established in 2004 by Bryan Bushey, he and his son David offer shares for a one time price. “We currently have twelve horses, and we offer the average racing fan a chance to experience the feeling of owning a race horse at an affordable price. The thrill is tough to describe to people, but partnerships give people an opportunity to get in at a reduced cost with less risk,” explained David Bushey. “We don’t charge for monthly training. Owners can diversify with a partnership and own shares in several horses, and we give people the option to forfeit if they want out. We educate our partners about horse racing so they learn the whole aspect of the business,” said Bushey. On January 11, 2024, Bush Racing experienced a historic event when two horses owned by Bush Racing Stable won in a dead heat at Penn National. “We had a great night of racing. We also won the next two races, so we had four winners in three races,” said Bushey. “There are lots of partnerships available today, and we do it right. My advice to anyone thinking about joining a partnership is to do their research and homework before jumping in,” advised David Bushey.
