Is Bush Racing Stable a licensed business?
Yes. Each Bush Racing partnership is a limited partnership that has been filed with the State of Pennsylvania. Bush Racing Stable is owned and managed by Bush Thoroughbred Consultants LLC, also a licensed business within the state of Pennsylvania.
Are there tax advantages to owning a thoroughbred race horse?
Yes. Recent changes to the tax code have greatly increased the tax benefits to thoroughbred ownership. Please consult your tax professional to see if you are eligible.
Are there risks involved with owning a thoroughbred race horse?
Yes. Thoroughbred horse racing is a very risky venture. Even the best athletes in the world suffer career and sometimes even life threatening injuries. We do our best to prevent theses from happening but unfortunately sometimes things are out of our control.
Is the thoroughbred insured?
Bush Racing Stable does not carry mortality insurance on our thoroughbreds.
Do partners have input into decisions made on behalf of the partnership?
Yes and no. Partners are always welcome to share their input, and the managers will take such input into consideration. However the ultimate decisions regarding the thoroughbred are left up to the mangers and trainer.
Does the purse money earned by a thoroughbred usually exceed expenses?
This is certainly the goal of Partnerships but cannot be guaranteed. Bush Racing Stable collects additional funds upfront to pay for initial expenses and also carries a float of all purse money to cover expected future expenses. Our goal is to have a partner only pay a one-time startup investment.
Where will the horses run and how many times a year can I expect a thoroughbred to race?
The horses will be stabled and run at Penn National. In the case that we cannot find a suitable race at Penn National or we feel a different track fits our horse better we will ship to other tracks within the mid-Atlantic. A healthy thoroughbred race horse will run every 3-4 weeks and as many as 12-16 times per year.
How are partnerships concluded?
Partnerships are concluded in a variety of ways. At some point in their careers, many horses end up in claiming races. If a horse is claimed, the partnership is concluded. Though it is not the aim of Bush Racing Stable to sell horses off the track, it is a possibility. Horses may also be sold privately, or at auction at the conclusion of the racing career. At such time, all outstanding debits will be paid, and the cash assets will be divided according to each member’s ownership interest.