What is Bongo Racing Stable?
Bongo Racing Stable, Inc. is a company designed to allow individuals the opportunity to enjoy the thrill of Thoroughbred ownership by purchasing shares in quality racing prospects.
Who selects the horses?
We have an excellent team, with proven success in the selection of top-quality racehorses. Bob Feld, who has been instrumental in the purchase of four Breeders’ Cup winners; Jude Feld, who trained the winners of 23 stakes, many purchased on his advice, privately and at sales and bloodstock consultant, Sean Feld, who most recently advised the purchase of Breeders’ Cup Mile (G1) winner Court Vision.
How much does a horse cost?
Of course, prices vary, but Bongo Racing Stable operates at the mid to higher end of the market, usually $75,000 and up. We feel this approach offers our clients their best opportunity for success.
What are the monthly expenses?
A Thoroughbred costs about $40,000 a year to keep in training at major tracks in the United States and Canada. This is another reason why it makes more sense to invest in a higher end horse than an inexpensive claiming horse. The related expenses are the same at all levels but top quality Thoroughbreds run for much higher purse money.
Respites at the farm cost considerably less, roughly $1000 a month.
What are the risks involved in Thoroughbred ownership?
Equine athletes, like their human counterparts are susceptible to injury. Some of the risk can be alleviated through proper management but it is never eliminated.
Should I buy a large piece of one horse or smaller pieces of several horses?
Just like the stock market, the risk of Thoroughbred ownership is lessened with diversification. We recommend purchasing smaller shares of more horses than a large share of a single Thoroughbred.
What are the benefits of Thoroughbred ownership?
Free admission and seating on race days are just the beginning. The pride of ownership begins with your first visit to the barn and swells to an incredible crescendo when your horse storms home to victory.
There is really nothing comparable in all of sports.
Are there any tax advantages to owning a racehorse?
Yes. Recent tax law changes have made Thoroughbred ownership more attractive than ever. We recommend that you discuss the benefits with your tax adviser.
Are the horses insured?
Bongo Racing Stable does not provide insurance for your racehorse but each individual investor can insure their share. Contact our home office if you need assistance with insurance.
How are purses distributed?
Bongo Racing Stable partnerships are set up with quarterly statements. Purses earned are posted to the appropriate horse and will be reflected in the itemized statement for the quarter in which they were earned. Distributions will occur at that time.
Does Bongo Racing Stable charge a monthly management fee?
No. Bongo Racing Stable earns five percent from purses won to cover their administrative costs, underlining Bongo Racing Stable’s goal of earning purse money.