Sorry for the delay, it’s always difficult to get the bills finalized due to the fact that trainers start moving around the country, etc. Final expenses and revenues are below for August and September. One final reminder, as 80% owners the group was entitled to 80% of the revenues and responsible for 80% of the expenses. A cash flow statement is provided underneath.
August & September Training Revenues & Expenses
August & September Revenues:
1st Place Finish (8/11) – $3,900
3rd Place Finish (9/1) – $770
6th Place Finish (9/11) – $70
Sale of Crown the Cat – $2,500
August and September Expenses:
Training (44 Days @ Approximately $45 per day) – $1,990
3 Race Day Ponies – $60
3 Bute Treatments – $40
Vet Expenses – $668.65
Trainer Share (1st Place) – $390
Groom Share (1st Place) – $40
Trainer Share (3rd Place) – $70
Jockey Fee (8/11) – $390
Jockey Fee (9/1) – $65
Jockey Fee (9/11) – $55
Crown the Cat Final August & September Cash Flow
Previous Crown the Cat Racing Club Balance (End of July) – $8,131.78
Plus 80% of 1st Place Finish 8/11 ($3,120) – $11,251.78
Plus 80% of 3rd Place Finish 9/1 ($616) – $11,867.78
Plus 80% of 6th Place Finish 9/11 ($56) – $11,923.78
Plus 80% of Sale of Crown the Cat ($2,000) – $13,923.78
Less 80% of Training ($1,592) – $12,331.78
Less 80% of Race Day Ponies ($48) – $12,283.78
Less 80% of Bute ($32) – $12,251.78
Less 80% of Vet Expenses ($534.92) – $11,716.86
Less 80% of Trainer Share ($312) – $11,404.86
Less 80% of Groom Share ($32) – $11,372.86
Less 80% of Trainer Share ($56) – $11,316.86
Less 80% of Jockey Fee 8/11 ($312) – $11,004.86
Less 80% of Jockey Fee 9/1 ($52) – $10,952.86
Less 80% of Jockey Fee 9/11 ($44) – $10,908.86
Final Crown the Cat Ending Balance = $10,908.86
62 Club Members
Final Check to Each Club Member = $175.94
Thank you again for taking part in this club. Your check should arrive sometime next week.
Two wins is a pretty good summer. As you can see, this is a tough game to make money in the state of Minnesota.
As a sidebar, the current Racino push being made at Canterbury Park is an attempt to improve the economics for horse owners. A Racino would substantially increase purse values and would turn a season like this into a winning one for owners like you. For more information, visit http://www.racinonow.com.
Thanks again for a great summer, Jeff and I thoroughly enjoyed getting to know all of you!
Canterbury Racing Club 