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Terry's Video Blog: Relationship Between Owner and Trainer

February 03, 2012 · By Terry Finley · Share Blog Series:
Terry dives into the relationship between owner and trainer, one built on trust and confidence. WPT teams with trainers with proven records of success that have strong communication skills. Our trainers realize they’re working with a partnership, a group of people that have pooled their money together with the hope of achieving racing success.
 

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What factors go in to making the decision to add/change trainers? WPT has always used quality trainers, how to you decide to move from a Violette or McLaughlin, obviously proven guys? Thanks
Ed, thanks for stopping by. Every situation is different. We'll move individual horses from one program to another at times if it does not appear that they are thriving. One had allergies so we moved him from the California to New York and the horse won 4 races and hit the board 11 out of 19 tries on the NY stakes/allowance ranks. Sometimes trainers want to go in a different direction, which was the case with Kiaran who wanted to focus more on one of his key clients and get his stable down to a more manageable number. If we enter a new region, typically we'll seek to add a proven local trainer.
Do you negoiate with your trainers on day rates? If you send multipal horses to the same trainer do you get a discount? Thanks, John
John, good question. We pay comparable day rates to industry averages and what other prominent owners pay top trainers. No discounts for multiple horses.
what is the cost of owing a horse, is it a group? what the min?
Terry, thanks for checking out my blog. All our offerings are partnerships of groups of people who each purchase a fraction of the horse, usually 10%. A minimum investment amount in our partnerships is normally $8-$10k, depending on the inventory we have available in the spring. Once our horses turn 3, a racehorse costs close to $60k a year to keep in training at a NY racetrack. A partner is responsible for their pro-rata share of expenses if the horse is not earning purse money to pay for itself.
At the minimum investment amount would one have the ability to diversify or are you to limited to one racehorse?
Appreciate the question Jason. The majority of the time that would be for a piece of one horse at the lower range of price points.
One of theses days I would love to get back into racing!!!!!! thanks
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