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Originally Posted by The Bid
Im just surprised by some of the questions, and assumptions Ive seen. I have no interest in the filly, but the question about a billing statement, or earnings statement lead me to believe someone may be in the dark about how much it really costs to have a racehorse
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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.