How long do horses race?
Horses typically race for 1 to 4 years.
How are the jockeys chosen?
This decision is solely up to our trainer as he has the most knowledge for pairing up the best rider for the horse.
Which tracks will the horse normally race at?
Ridgewood’s stable is located in Southern Illinois. However, our trainers have stables established at most of the major tracks in Illinois, Kentucky, New York, and Florida. The horse will be stabled with the trainer at the nearest barn to track the horse will be racing at. Our horses will likely race at the following tracks:
Keeneland in Lexington, KY in April and October
Churchill Downs in Louisville, KY during the spring, early summer, and in November
Saratoga Racetrack in Saratoga Springs, NY in the summer
Hoosier Park in Anderson, IN during the summer and fall
Indiana Downs in Shelbyville, IN during the spring and early summer
Gulfstream Park in Hallandale Beach, FL during the winterEllis Park in Henderson during the summer
Arlington Park in Chicago, IL during the summer
When and where will I be able to see my horse?
The main place partners will be able to see there horse is at the track on race day. At the request of a partner we can also schedule visits to watch your horse in training. Occasionally we may schedule group visits for any or all the partners to attend together.
Does Ridgewood carry insurance on the horse?
Ridgewood will purchase owners liability insurance for the partnership. The cost is about $200 a year and will be paid for out of the partnership account. We will not have mortality or disability insurance on the horse as we do not feel the expense versus the potential return is worth it.
Partners may purchase mortality or disability insurance on their share(s) independently.
Are there tax advantages to owning a racehorse share in a partnership?
Each partner will receive an individual Schedule K-1 on or before March 1, for the preceding year. It is primarily up to the partners and their tax advisor to discuss how any expenses or profits will be handled with the IRS. However, in accordance with current IRS regulations, most active partners should be able to write-off the initial investment and most expenses associated with the partnership.
Can a partner leave a partnership before it has been concluded?
It is up to the partner to sell their interest in the partnership. In general, partners should be prepared to stay involved for the duration.