How Ridgewood Partnership Racing Works

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		How It Works The Partnership We divide ownership interest in our partnership horses into equal shares. The share cost will also include at least the first 6 months anticipated expenses. Ridgewood will buy at least 1 share. Partners can buy any number of shares or buy a half share. Partners then share, pro rata, the ongoing expenses and profits. Ridgewood is the managing partner. However, most of the decisions, concerning racing and training, will be made by trainer Eddie Kenneally. Ridgewood makes any minor day to day decisions that are required. We are constantly in communication with the partners discussing training and upcoming races. We aim to please the partners request, however, as managing partner, Ridgewood has the final decision-making authority. The exception to this is in the event of a major decision there will be a vote by the partners (partners vote is counted based on your share ownership). Fifty-one percent or more of the majority will make the final decision. Examples of this may be selling the horse, running in an expensive stakes race, ect. The partnership will continue until the horse is sold or claimed. In the event the partnership is concluded, the remaining net funds will be distributed pro rata. You may also sell your share of the partnership. All other partners must have the option of buying your share before offering to an outside party. Any sale to an outside party must also be approved by Ridgewood. Financials Although we cannot guarantee any fixed rate of return, we can guarantee that all financials will be handled in a very straightforward and direct manner. Maintaining a firm reputation of honesty and integrity is of upmost importance to Ridgewood. We will provide any form of documentation regarding expenses, earnings, or balances at the request of the partners. The initial share price includes 6 months anticipated expenses, a fee to cover all expenses involved in the set-up, and your part of the horse ownership. All of these funds, minus the set-up fee, will be deposited into a partnership account and used to buy the horse and make the initial training expense payments. We hope to earn purses before we use all the initial expense funds. All purse earnings are deposited into the partner account and any amount over the anticipated next quarter’s expenses in the account will be distributed pro rata to the partners on a quarterly basis. At the end of a quarter if there is less than next quarter’s anticipated expenses then the partners will be billed for their share of the difference. Our goal is to earn purses within 6 months and continue this routine so that our partners never have to write another check. The approximate monthly costs for a 2 or 3 year old Thoroughbred in training with Ridgewood’s current arrangements are as follows: • Trainer: $85 a day, approximately $2,550 a month. This covers trainer’s salary, boarding, feed, and other horse care related expenses. • Vet: $500 per month. This is the average cost, it varies depending on the health of the horse and covers injury or illness treatment, medications, etc. • Blacksmith: $150 per month. • Vanning: $200 per month. • Misc: $50 a month. Minor track fees Account summaries with detailed activity is prepared on a quarterly basis and forwarded to all partners.