How do I earn money?
Members of Yarnot Stables racehorse partnerships can earn money two ways. First, the partnership earns a percentage of the purse when the horses finish in one of the top five in a race. Listed below is an estimated breakdown of the purse money for a $24,000 race. Second, the partnership may make additional money if we were to sell a horse privately.
|Purse Breakdown||$ 24,000|
|1st Place (60%)||$14,400|
|2nd Place (20%)||$ 5,200|
|3rd Place (10%)||$ 2,400|
|4th Place (5%)||$ 1,200|
|5th Place (3%)||$ 720|
|Race Financial Distribution|
|Jockey Fee (10%) **|
|Trainer Fee (10%)|
|Management Fee (5%)|
|Miscellaneous Fees (2.5%)*|
*includes state horseman's fees, stable bonuses, pony fees, etc
** Jockey's receive 10% for a first place finish, 5% for a 2nd or 3rd place finish, and the standard mount fee ($50-$75) for all other finish positions
When will the horses run?
If the horse is purchased as a two-year-old it is possible that it might see its first race within 4-5 months. In some cases it may take longer to bring the horse along. We can’t guarantee how quickly a horse will be ready to race. A horse that we claim from the races will usually run back again in 3-4 weeks.
At which tracks do the horses normally race?
Our stable is based in Louisiana and Texas, although we will run wherever we are competitive. Our horses will primarily run on the Texas and Louisiana circuits. If we have potential investors who are located in other areas of the country we will assemble a partnership and acquire horses to run on their local circuit. Our horses will be trained by Dallas Keen.
How will I know if my horses are running?
Yarnot Stables is in continuous communication with our partners. Our website is updated daily whenever there is something pertinent to report. You will also receive e-mail notices for every horse’s activity. You’re a partner and keeping you in the loop is a primary responsibility.
What if I want to bring a group of people to the track with me?
Absolutely! As a matter of fact, we encourage it. The idea is for everyone to come out to the races as much as possible and thoroughly enjoy their involvement in the sport. Everyone is welcome in the clubhouse, the barn, and the winner’s circle.
Who is responsible for making racing decisions?
Our trainer Dallas Keen will typically make racing decisions. He is an accomplished expert at his job and has the best knowledge regarding when and where to run the horses. Of course, the Yarnot Stable managing partners will have constant contact with the trainers and have input in all racing decisions. The owning partners will also have a say in major decisions such as a sale or first time placement in a claiming race.
Once I become a partner, what will be my level of involvement?
You will be treated like a partner and will be given the opportunity to take stable tours, speak with the trainers and jockeys, etc. You will be welcome at the clubhouse and will have full access to the paddock before any race. Of course, you’ll also have full access to the winner’s circle should your horse win and you’ll be part of the win photo.
How often will I have to pay expenses?
Training and other expenses will be billed in advance monthly. The ultimate goal in any partnership is that the horse, once it arrives at the track, will eventually pay for itself. Any purse earnings will be used to offset future expenses. In the event that purse earnings exceed expected next quarter’s expenses, a distribution will be sent to the partners.
If a horse’s earnings are greater than its costs, when are the earnings distributed?
Are there costs related to each race?
Most races are free to enter. There is a jockey fee between $50 and $100 and a pony to post of about $25, depending on the race track. Stakes races sometimes have an entry fee.
What kind of financial and tax information will I receive?
You’ll receive a quarterly financial statement and an invoice if retained purse money is not expected to cover the next quarter’s expenses. Before March 15 of any calendar year you will receive a K-1 statement for your tax return.
What is the structure of a Yarnot Stables Partnership?
Each racehorse partnership will be formed as an LLC.
What is the minimum investment?
The minimum investment is $1000.
How do I join the Yarnot Stables team?
Go to the “Contact Us” page on the website and e-mail or call us. We will review any questions and discuss the process with you. We’re happy to have you aboard as part of the team