i had NO idea what kind of expenses were involved.
they're not stupid question, to those of us that DON'T know. i'm learning every step of the ride and the ride has been great fun so far.

Hey, I've got an idea about how much it costs. Chuck told me it takes about $3k/month per horse, on average, once you account for everything. I have no reason to believe he was overstating that figure. I have spoken with other owners and I know it can be done cheaper at other tracks, but for what Chuck's rate is and at Churchill, $3k/month seems square.

I asked that question on the Dee Tee blog. I just wanted to see an income statement for the partnership i.e. what the in's and out's for the "partnership" account look like. I realize we don't pay for the bills. However, that doesn't mean we can't have an income statement for the partnership. There are various sundry things that the partnership pays out, that would show up on such a statement. It was more of a request for transparency in the partnership account so that everyone doesn't have a different idea of how much $$$ is in the account at any one point in time.

Just for clarification, I don't expect to see every dime Chuck pays out of pocket. He's incentivized under the partnership arrangment to spend as little as he can and still get a horse that can win into the race. And if he can do this, and if Sumwon can get checks, it might end up being a fairly profitable arrangement for him over the long run.

I think when one goes back and reads through the original posts, where the concept of this partnership was first offered on this board, it's pretty clear what it was all about, and who would be risking the most: financially, professionally, etc.

Frankly, I figured that, with our budget, we'd get a (hopefully) serviceably sound claimer, that we would run a few times, all meet up at the track and see, have fun with, then lose back to the claim box, 60 days off, etc. Certainly that expectation is all I hoped for from the partnership.

The good point was made that to get a horse of Sumwonlovesyou's caliber is indeed not to be expected routinely, but I think everyone here does realize that this isn't the norm. Quite the austute move on Chuck's part, and we have been lucky that she's turned out better than we could have hoped for.

Sure, the harsh realities can hit home every time you go into the barn first thing in the morning and look in the stall, every time the horse takes a step on the track in training. Horses break, horses colic - nobody here is that ignorant of reality.

Yes, we've had a darn good ride so far, better than I know I expected - and that is what makes it all the MORE exciting for all of us!

The partners know we owe Steve and Chuck a huge debt for allowing us to have this fun - I'd guess both of them worry more about how "the partners" are doing, that we are having fun, even moreso than we worry that the venture they launched is successful for their sakes.

I've owned (non-race) horses most of my adult life, and I've made and lost money on them, and made and lost dreams and hopes on them. That's life with animals. You can be in it as a business (good luck with that - what happened to sport for sports sake, btw? :p ), but you don't last long, or gain much happiness from it, unless you love the sport, and the animals themselves for their own intrinsic worth.

So nothing is going to stop me from enjoying the pure exhilaration one feels when it's going right! And having 60 new friends to share it with just makes it a helluva lot more fun! :D

Will Willie travel?
 

It is unrealistic for anyone other than the partners to absorb the expenses for this girl. To expect Chuck to eat additional expense for shipping one horse for a specific race is nuts. Each owner's expectation of a financial benefit that comes with "ownership" in this horse should be nothing more than the free hat they got if they came to watch the horse's last race. (As if he hasn't done enough already, I'm sure Byk got punched in the pants for the cost of the hats, also!) It would be wonderful if this horse could travel and compete at the next level. Unless she performs ridiculously well in her next race or unless the partners step forward to eat the travel expenses, Sumwon's next Summer Tour '07 performance should be at Churchill, if they write a race that fits for her, or Arlington (where she can be shipped to for free between these tracks.)

As far as shipping wee Willie to ride, FedEx has a "100 lb.weight restriction special" we may be able to get him on for $79.00, providing he stays real quiet in that big carton they have!

That's up to Chuck alone, isn't it?

I like how you think!

I agree 100%.

I believe she is well into the red. How long do you think horses can keep their form and continue to get checks? I think it was Charlie Whittingham that said, "Horses are like strawberries, they can go bad overnight."

As for the transparency stuff. The partnership clearly states that we are not in this to make money. Do you just want to see what a bill looks like?

We are fortunate to have it turn out so well even if we haven't got our win photo(s)

anyone who got in the stable for money is in the wrong place. i'd like to see chuck make his money back for his daily expenses...other than that--when's the next purchase?? i'm in (as long as tony gets back to work soon!).

Wingnut,
I can't speak for Jman but I believe he just wants to know where we stand. How many people are involved, what was the total money invested, is there enough to do what is best for the horse, should we try to get a few extra dollars together to maximize Sumwons ability to run in the best spot for her. Certainly everyone appreciates what Chuck and Steve have done for the group, people just want to help. Its not about making money it is about enjoying the ride as much as possibe. I have already received enough enjoyment out of the last six months to feel my investment(amusement dollar) is more than worth while, and I believe this is the prevailing feeling. Many people don't completely understand the day to day expeditures, cost of shipping, jockey costs, entry and nomination fees etc... We are here to learn and enjoy the great sport at an entry level.

Tom

You're clearly misconstruing what I've said. I never said I was in it to make money. It's really just what 3kings has said. Nothing more, nothing less.

I didnt mean to come off nasty. As an outsider looking in on this situation I realize how lucky you all are. Not only lucky to have a filly of this magnitude, but lucky to have good people coaching you along. So many WOULDBE good owners get burned the first time they step in to this game that they never try again. Youve all had a great first experience, exceptional. Your filly is nice, the people involved seem to be nice, and unless people start to make suggestions and get difficult it will be impossible to lose money. There aernt many situations I can think of where its impossible to lose money in this game, you guys are in one

I don't follow...

Which is why I hope that someone who is in the position to buy their own horses sees what good Chuck can do and hopefully places their horses with him too. :)

Does each track, say Magna, Churchill and NYRA, all have their own fees for trainers to have stalls?

DeeTee partnership-$500;RT air-NY to Lex-$199;being in the paddock and saddling enclosure at Kee;watching SWLY race with a great group of fun people; going back to her barn after the race;Steve and Chuck going out of their way to accomodate you; visiting SWLY at her stall in CD-PRICELESS! Thanks again Chuck and Steve, where you lead I will follow.

Amen to that. Even if Chuck only breaks even, this undertaking should generate some good PR for him. He's got a barnful of Dee Tee owners who should be amazed at what's happened. Chuck's done a phenomenal job right from the get go, in my opinion. First, in recognizing Sumwon's potential, then in gutsing it out when she went a little higher at auction than he hoped, then in the tremendous training regimen which has produced remarkable results. And, last but not least, in dealing so gracefully with such a disparate group of people.

Hey, Chuck, can I have a job as your front man?

And, of course, don't mean to slight Steve -- Dee Tee Stables has burst forth from his ingenuity like Athena from the mind of Zeus.

I know that. I just had the feeling that you were a little exasperated with some of our foolish questions and unrealistic suppositions. You sound like you have more experience with horse ownership than most of the partners. We're getting that experience. Right now, thanks to Chuck and Steve, it's been a great experience. Hopefully, it stays that way.

After our initial financial outlay, there is no possibility of a further loss. That's why most of us jumped in. I personally think that I have got an incredible return on my investment already, again thanks to Chuck and Steve.

Hey, if the 2nd partnership involving a NY-bred gets put together, why don't you join in? You could help keep us in line, and have a great time along the way.

[quote=Sightseek]Which is why I hope that someone who is in the position to buy their own horses sees what good Chuck can do and hopefully places their horses with him too. :) QUOTE]

Amen to that. We may be there in a few years, and I would (hopefully will!) trust him with my stock unquestioned.

Walk into any horse barn, especially when it's a "surprise visit", and see what you get: I wanna see stalls clean & well-bedded, water fresh and ample, hay and feed good-quality, equipment ordered and clean, the tone of the barn (and help) confident, in control and organized, and most importantly the horses need to be relaxed and mentally happy - it all starts from there.

You can't take broken down horses and make winners out of them, but just having good stock doesn't get you there, either. You have to know what to do with it, and attention to detail matters.

The partnership was set up so that the partners don't have to absorb the expenses on the horse. That is the beauty of it for us and why Chuck and Steve have full say on everything she does and why Chuck gets 50% of her winnings. Many of us in the northeast haven't had the chance to go see her race yet. Obviously we were excited that she was coming to Monmouth where new people could see her but once we heard some of the costs with shipping I think most of us would rather Chuck not spend that money for shipping to accomodate us when we can wait until Saratoga to see her. Of course if Chuck is shipping her for black type that will more than offset the shipping cost then it makes sense. The end result is absolutely no one is suggesting Chuck take on extra expenses just to accomodate us. We are suggesting he does what is best for him and we can wait until Saratoga to see her if it makes more sense to keep her at Churchill.

And as far as "Will Wilie Travel?" I thought it was a reasonable question and was likely based on the assumption that Willie would be making and funding his own travel arrangements. If the only way he would travel is if Chuck pays for it then it doesn't make much sense.

it was a perfectly ligit question. after the last race i asked steve what Willie had to say. steve's reply "Willie loves her!" "she does anything he askes her to do."
so why shouldn't we ask if Willie is traveling to ride her.
again i don't know how that is handled, who pays for what.

my opinion on willie is this- if he knows he has a horse that can get the job done, he'll ride.
this isn't a guy that needs 8 mounts a day to get by, he can afford to be picky, imo.
i would think, that if he thinks he has a shot to knock back some nice $ on a one day trip, then it's well worth the effort for him.
and as stated before, the question would become what would it take for him to go? maybe the costs that we are seeing here, maybe a little less?
irregardless of the outcome, it's all part of this great learning experience for me as well.

FYI from what I see the second condition book at Arlington has no races remaining that fit her unless she's ready 6/20 for 1 and 1/16 for 3yr old fillies, 32.5K purse. The 2nd book runs thru 6/24 and the 3rd book , not yet out, will see added purses and possibly a good size more if any added $ is tied to the handle as we are having a bonanza year.