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Fair deal?

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chin:
I saw this promotion on a racing forum, looking for people to join their horse owner club.

Do you think it's fair? (I have my opinion already. I am just throwing this in for discussion, not soliciting advice.)

Some backgound info:
- the horse will be racing in Macau
- the club/manager will pay for the purchase price of the horse, maybe $200k, maybe $500k.



--- Quote ---假設每匹馬的股分份數以10份計

第一筆的費用
入口許可證(英愛馬匹)費用($100,000) + 按金(一個月養馬費$25,000) x 1匹
= $125,000 / 10份
= 每份約$12,500

每月費用
每月養馬費平均每匹: $16,000 – $18,000
每次出賽報名連策騎費約$2,500 (每月約出賽2次) = 約$23,000 – $25,000
每份每月約$2,300 – $2,500

獎金分配
以一場三班賽為例。冠軍：$159,300，馬主佔7成，實得：$111,510 = $111,510
本會佔一半$55,755

餘下獎金$55,755 / 12份(其中2份為經理人日常開支連馬匹營養補充品) = 每份可得約$4,600

註：除以上費用外，本會並不會收取其他雜費。
--- End quote ---


My translation:

1. assuming each race horse has 10 equal share of ownership

2. import license plus 1 month deposit of stable/training fee $100k + $25k = $125,000, or $12,500 per member

3. monthly stable/training fee, plus jockey/signup fee to race twice a month, $23k-$25k, or $2,300 - $2,500 per member

4. purse distribution, e.g. a class 3 race the owner of the winning horse gets $111,510. The club would take 50%, with the remaining 50% divided into 12 shares - 2 for the manager of the club, and 1 for each of the 10 members. Each member share about $4,600.

5. besides the above, the club does no charge any other fee.

The bottomline is that for as low as $2,300 a month, you can claim to be a race horse owner.

hangchoi:
No......I think it just a game of selling the leftover...

Anyway, if you see that being a horse owner is just an expense, without any expection on money return, that will be fine.

I really wonder this kind of thing is set up by those horse broker.....

chin:
Agree. I think it's a very bad deal to those whole contribute the cash.

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