Can this Jockey be a bigger douchebag ?

[Cannon Shell]

Originally Posted by Storm Cadet

Jocks get 10% of purses right? JV made 25 mil, Gomez 28 mil purse last year...
So if a top valet does Johnny V (2.5 million earned) and Gomez (2.8 mill) and say a lesser guy who makes 1 mil a year, the valet gets 5% of 6.3 million. $330,000 a year ...WTF are we doing as trainers Cannon????

What they earn versus what their mounts earn is not the same thing because they get 5% from losing mounts, not 10%. I'm not very good at cleaning up after myself much less after a mini me.

[Storm Cadet]

Damn, when I was with CAstle Village and West Point, I think they charged us 10% win, place and show...talk about getting fleeced again. I better go back and check my financials

[ELA]

Originally Posted by Storm Cadet

Damn, when I was with CAstle Village and West Point, I think they charged us 10% win, place and show...talk about getting fleeced again. I better go back and check my financials

If by "they" you mean the partnership company, that might have been their management fee or their cut of the earnings. If you mean "they" -- the management company -- "billed" you 10% for accross the board finishes because that's what the jock got paid (or that's what they claim the jock got paid), then, something is wrong.

Eric

[Storm Cadet]

Originally Posted by ELA

If by "they" you mean the partnership company, that might have been their management fee or their cut of the earnings. If you mean "they" -- the management company -- "billed" you 10% for accross the board finishes because that's what the jock got paid (or that's what they claim the jock got paid), then, something is wrong.

Eric

Eric,

They means management company as well as what they paid the jock from owners purses. They always say that is our agreement with the jocks they use. Who really knows how much the jocks actually receive from company and if the mgt company REALLY pays the groom, hot walkers and all the other people who they say they pay on the financial sheets before the owners get their share.
Ron

[ELA]

Originally Posted by Storm Cadet

Eric,

They means management company as well as what they paid the jock from owners purses. They always say that is our agreement with the jocks they use. Who really knows how much the jocks actually receive from company and if the mgt company REALLY pays the groom, hot walkers and all the other people who they say they pay on the financial sheets before the owners get their share.
Ron

Got it. If you want to know the truth and the exact amount paid to the jocks you can do two things -- first, check the book. It has the schedule right there, both the Jockeys Guild schedule and that meet's schedule. Second, ask for an itemized printout from the horsemens bookkeeper.

Your partnership agreement may not allow it, but if it does get it. The entire breakdown is right there.

Eric

[Storm Cadet]

Thanks Eric,

That's one reason I gave up all my partnerships. Can't trust most of these guys anymore. They say one thing...charge you another!

I'll never forget my 2nd horse partnership we sold the colt to Winstar farms as they did not have a Derby horse for the 2003 season. They offered us 3/4 mil for him which we took but you cannot believe all the hands taking out their share BEFORE the owners got theirs. Even the trainer was paid 15% of the sale price (they told us). I never could figure that one out. Why the trainer would get paid off for a private sale between two racing corps???? We wondered if RV was really ever paid!

Ron

[ELA]

Originally Posted by Storm Cadet

Thanks Eric,

That's one reason I gave up all my partnerships. Can't trust most of these guys anymore. They say one thing...charge you another!

I'll never forget my 2nd horse partnership we sold the colt to Winstar farms as they did not have a Derby horse for the 2003 season. They offered us 3/4 mil for him which we took but you cannot believe all the hands taking out their share BEFORE the owners got theirs. Even the trainer was paid 15% of the sale price (they told us). I never could figure that one out. Why the trainer would get paid off for a private sale between two racing corps???? We wondered if RV was really ever paid!

Ron

I could see a trainer getting paid. This arguement comes into play here, and the arguement is older than dirt. I've heard both sides time immemorial. Should the trainer get paid? Should the trainer not get paid? Personally, I pay it. Actually, I offer it beforehand.

In this case, why not ask the trainer? Of course you may not get the truth, but why not ask? If I had to guess, I would peg it at 10%, perhaps 5%. I would think there was an agent in on the deal as well. Plus, plus, plus.

Eric

[ELA]

Originally Posted by Cannon Shell

What they earn versus what their mounts earn is not the same thing because they get 5% from losing mounts, not 10%. I'm not very good at cleaning up after myself much less after a mini me.

There you go. The 3'rds and 4'ths also add to that.

Eric