The Account etc

Winners’ Circle Photos
I will send an email to each member of Tahitian Queen Stable about ordering a winners’ circle photo from last Friday. Because of the expected quantity, we will get a very good price. I still do not have all 60 email addresses so if you read this and do not receive an email, please contact me so that I can add you to the list.

Update
Tahitian Queen walked again today but Tammy plans to send her to the track tomorrow. The race took a lot out of the filly and she does have a bruise on her front leg, so some extra downtime was decided upon by the trainer. Tammy is looking at races the following week. In the condition book (found here) I notice both a sprint and route for $7,500 claiming fillies that have not won twice. We will check in with Tammy soon to see what she has in mind.

The Account
Here is a rundown of the Tahitian Queen Stable horsemen account.

60 members @ $250 each= $15,000
Licensed owner 10% + $600 = $15,600
Purchase of horse – $6000 = $9600
MRC license -$50 = $9550
Winners share of purse +$4200 = $13,750
Jockey fee -$420 = $13,330
$1 per start for horse retirement -$1 = $13,329
Shipping from Chicago to MN -$240 = $13,089
April training bill (4 days @ $50 per) – $200 = $12,889

The purse last Friday was $7,000. The winner receives 60% or $4,200. The jock receives 10% of that or $420. Each owner or ownership group contributes $1 per start to a fund that is used to support organizations that help place retired racehorses. That dollar is matched by Canterbury Park. Last year the horsemen and Canterbury donated $12,000 or which went to Second Chance Ranch and the Minnesota Hooved Animal Rescue.

I also suggest, in light of the victory, that the ownership group tips the groom who cares for Tahitian Queen each day. He obviously did a good job as she ran her best race ever. Please post comments below so that we can come to a consensus.
Soon we will have an inside look at what grooms do seven days a week.

Each month we will receive training and vet bills. Tammy charges $50 per day plus 10% of purse money for any top three finish, which for Friday would be $420. There are additional items such as supplements and shoeing. When the May bill arrives in early June we will have a chance to break it down for educational purposes. Those bills are paid out of the account just as the April bill was. We had a $240 bill in April for the shipping of Tahitian Queen to Canterbury as well as $200 for four days of training. Those were paid today out of the account.

Your group is off to a great start. As I have emphasized to many, it is not rare for a horse or an owner to go an entire meet without a win and this filly got you to the winners’ circle on day one! There is still a lot to learn along the way and we will continue with new items soon.

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12 thoughts on “The Account etc

  1. Wow, racehorse accounting 101 – thanks for the breakdown Jeff. More bills to come?, well we’ll just have to get in the money a few more times and stay in the black! My suggestion for the groom tip: how about setting a precedent of 2% (of winners money) to the groom. For this past purse, $84.00 seems like a nice tip?, too little?, too much? I’m sure others have some suggestions but thought I’d start by throwing something out there. Good to let “our girl” rest for a week although I’ll miss seeing her this weekend! See you all trackside…

  2. The groomer should definitely be tipped. Are there standard breakdowns similar to the 10% given the trainer and jockey? The tip should be fair, but the excitement of the win shouldn’t cloud our judgement to overcompensate either.

  3. Looks like a consensus has been formed. There really aren’t any standards. I am sure some owners do nothing and some do a lot. Often they make wagers on the horse for them. I think I read that when Win Willy won the Rebel Stakes, Jerry Meyers gave the groom tickets worth $11,000.I’d say $100 is a nice touch. Trainers are only as good as the help they hire. When searching for a trainer, it is important to see what kind of operation they run. Having enough help, and good help, makes a huge difference. jm

  4. I’m in total agreement, in my “younger years” I had 3 pleasure horses and have a taste of the work of grooming is! (if I never have to clean a hoof again, it will be too soon!)

  5. Thank you Jeff. I know you are a very busy man, and your time educating all of us is GREATLY appreciated. You have a VERY good feel for what horse “owners” 101 need to know.Thank you again!

  6. General questions:How is the groom paid (weekly? monthly?) and who pays him/her (trainer?, owners?)?How is the feed and stall paid (weekly?, monthly?)Just wondering… thanks for any information… it is truly an experience of a lifetime to be a part of this!

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