How is Tobin Stables Different from Other Partnerships?
We’re here to have fun, meet people, educate, and promote the great sport of thoroughbred horse racing. We keep a smaller stable of quality horses, use quality trainers with smaller barns, and a manageable number of partners, to allow us individual attention and a great experience.
How is a Partnership Formed with Tobin Stables?
Each racehorse is organized as a General Partnership. Tobin Stables retains 10% in each horse/partnership, we are invested just like all our partners to succeed. We recommend partners diversify their investment among multiple horses to have more action at the racetrack and mitigate any possible risk.
What Kind of Horses Does Tobin Stables Offer?
Most horses offered are of racing age (2 years old and up). Our intent is to purchase horses that will run at the top Claiming, Allowance, and Stakes level; however, horses will be placed into races with the best opportunity to be winners. Tobin Stables also offers annual yearling and pinhooking opportunities.
Where Will the Horses Race?
Tobin Stables races in Florida, Minnesota, Kentucky, and New York primarily. Tobin Stables is in New Richmond, WI, so our home track is Canterbury Park.
Can I Visit My Horse, Watch it Train, and Race?
As a licensed owner you can attend early morning workouts, tour the private stables, speak with the trainer and jockeys in the paddock prior to your horse racing, and be in the winner’s circle when your horse wins. Please keep in mind the following though - Tobin Stables managers will act as trainer liaisons. Our trainers welcome having visitors to the barn, that’s a big part of the reason we chose them, but please coordinate all barn visits and communication with our trainers through a Tobin Stables manager. We want Tobin Stables partners, and their families and friends (within reason) to have a personal connection to your horse(s) and experience the advantages of being an owner in our partnerships. The backside at a racetrack is a fantastic experience.
Do Partners Need a Racing License?
Being a licensed owner is the only way to get the true experience and gain the knowledge of being an owner firsthand through the privileges that will be open to you. All partners must hold a valid racing license for all states your horse(s) will be racing in. Once you become a Tobin Stables partner, we will gladly help walk you through the process.
Who Trains Your Horses?
Kerri Raven (MN/FL), Jamie Begg (NY/FL), and Austin Trites (NY) are our main trainers.
What is the Average Cost of a Racehorse with Tobin Stables?
A ten percent share of one of Tobin Stables thoroughbreds will usually be in the range of $3,000.00 - $15,000.00, plus partnership setup fees, and monthly expenses.
What is the Monthly Cost of Racehorse Ownership?
Monthly expense estimate is $300.00 – $400.00 for a ten percent share. Each partner is responsible for your pro rata share of horse related expenses; expenses are billed monthly. These costs would be offset by any purse earnings, of course. Tobin Stables does require a minimum of two months (60 Days) expenses, cash on hand, to be always in each partnership’s account.
What Does the Monthly Cost of Racehorse Ownership Consist of?
It all starts with the trainer’s day rate, which includes the stall, feed, conditioning, and care. Trainers typically have a staff of people they employ to assist in the process, including assistants, hotwalkers, grooms, exercise riders, race day pony etc. Other expenses include veterinary care, transportation, blacksmith, jockey mount fee, Tobin Stables management fees.
What are Tobin Stables Partnership Costs and Fees?
There is a tremendous amount of work put into establishing our partnerships, which continue once they are formed. It begins with recruitment of members, legalities and contracts, keeping track of financials, research into sales/auctions, scouting potential claims, communicating with our trainers and partners, newsletters and social media communications, race day coordination, and so much more. Because of all this coordination, Tobin Stables charges a monthly management fee of $50.00 per horse/partnership and will retain 10% exempt ownership in all horses. There is no % taken out for earnings, purchase, sales, or other hidden charges you may find with other partnerships. At the end of the day we do this for the love of the sport; to help educate and promote.
How Can I Earn Money Owning a Racehorse?
Partners earn money from the horse’s purse earnings, or if the horse is sold privately or through an auction for a profit. Thoroughbred horse investments are a highly speculative matter, they can be lucrative, but always be prepared for a horse's expenses to exceed their earnings. Turning a profit shouldn't be the only consideration in investing in thoroughbred racehorses, when you become a licensed owner, you are able to experience what many have dreamed of doing and participating in.
Are There Tax Advantages to Owning a Racehorse?
Recent changes to the tax code have greatly increased the tax benefits to thoroughbred ownership. You may be able to treat your involvement in our partnerships as a business instead of a hobby, enabling you to deduct your expenses including horse purchase, vet bills, monthly training bills, and the expense of going to see your horse race. These tax benefits should be reviewed with your accountant.
Will I Receive Any Tax-Related Documents?
You will receive a K-1 statement for each tax year, for each partnership you are involved in.
Who is Responsible Making Decisions Regarding the Horses?
Tobin Stables trainers are responsible for the training and horse’s welfare. The trainers and Tobin Stables management make the day-to-day racing decisions. Partners will always be in the know of all decisions, we are here to educate and promote. For some decisions, like naming a yearling, we will take suggestions from the partners, narrow it down to the most popular ones, and take a vote.
How Will I Keep Up With What the Horse is Doing?
Tobin Stables managers will keep you updated primarily through email or a communication application. Training progress, race dates and other pertinent information will be sent to you. We will also help educate those who need it on various aspects of horseracing.
Will Partners be Told in Advance the Horses You Plan on Bidding on, Buying, or Claiming?
The more people who know our intentions, the greater chance there is of word getting out. We will always explain the reasons we like a particular horse and what we saw to help educate partners once the horse is claimed or purchased.
Can Partners Attend the Auctions You Will Attend?
Most auctions Tobin Stables attend are open to the public and the experience is electric, but please keep in mind that our managers and trainers will be fully engaged in the process of finding the right horse.
Can a Partner Leave a Partnership While it is Still Active?
Partners wishing to sell their interest must be prepared to find his or her own buyer. We ask that partnerships be taken seriously, and all partners should be prepared to be involved for the length of the partnership.
How Long Does Each Partnership Last?
Each partnership will conclude with the specific horse of that partnership through it being claimed, sold, or till a horse's performance does not allow him to be competitive where we race. At the conclusion of the partnership, all outstanding debts will be paid, and the cash assets will be divided according to each partner's ownership interest.
What Happens to the Horses Once They are no Longer Able to Race for Tobin Stables?
Racehorses make excellent show horses, pleasure riding horses, and excel at many disciplines because of their ability to think outside of the box; they are easily retrained and have long and happy careers. Some go on to race successfully at B tracks for other connections. We don’t make a lot from sales like these, as horses whose forms tail off depreciate. Knowing when a horse is no longer going to fit at the tracks we race at and finding them good homes is also part of the racing experience.
What are the Risks Involved with Owning a Thoroughbred Racehorse?
Thoroughbred horse racing is a very risky venture, even the best athletes in the world suffer career or life-threatening injuries. Tobin Stables and our trainers do our best to prevent this from happening, but unfortunately sometimes things are out of our control.