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Is Winners Circle
Partners a registered business? |
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Yes. Winners Circle
Partners is a registered LLC in the
State of Maryland and each Partnership
is registered as a separate LLC.
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How
and when is a Partnership formed by
Winners Circle Partners? |
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A Partnership is
formed when a specific number of interested
parties have reviewed and completed
a Partnership agreement. For example,
a 10-unit Partnership will be formed
when all units have been allocated,
either to 10 individuals or fewer
individuals that have chosen to obtain
multiple units.
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How are claiming
thoroughbreds or yearlings selected
by Winners Circle Partners? |
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An
extensive amount of research is performed
before selecting any thoroughbred
race horse. Research includes reviewing
past racing performances, examining
bloodlines (breeding), visual review
during workouts or races and gathering
any other information that can help
make the right decision. This process
is completed by the Manager and a
Trainer prior to making the final
decision.
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What
input do Partners have in decisions
made on behalf of the Partnership? |
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Input
is welcome and encouraged from Partners
and the goal is to keep the lines
of communication open at all times.
The Manager reserves the right to
make final decisions on all racing
matters but works with Partners during
the process. Capital distributions,
sale of a horse and other topics not
directly related to daily racing operations
are decided based on majority vote
of the Partners.
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How many times
a year can I expect a thoroughbred
to race? |
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A healthy thoroughbred
race horse will run every 3-4 weeks
and as many as 12-16 times per year.
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How are Partners
notified of important events such
as upcoming races, results, etc.? |
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Partners are notified
in several ways including email and
Partner website updates. Partners
also receive information on available
tools that enable automatic notification
of workouts, races entries and results.
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Does the purse
money earned by a thoroughbred usually
exceed expenses? |
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This
is certainly the goal of Partnerships
but cannot be guaranteed.
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Are there tax advantages
for Partners? |
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Yes, but the tax
code is constantly changing so you
should discuss specific advantages
with your accountant.
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Do Partners need
to be licensed owners? |
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Yes.
Licenses must be obtained directly
from the State(s) a thoroughbred will
run in (typically MD, DE, PA, VA and
WV). Rates vary between States and the Manager will assist Partners with the licensing process for all required States. |
