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Jay, Are you intentions to race this horse/foal in a particular area? I may be able to find you contacts through out the different parts of country that could answer your questions or have interest in a syndication type set up. Send me a message with more details of your ideas and goals. Maybe I can help you figure out a plan! Cheers! Frankie
I am looking to put together a syndicate for Congaree at Adena Springs in KY. I a looking for a very correct mare.
I would love to know how the business end of it works and what the financial responsibilities are at every stage.
Anything you can share or point me to is greatly appreciated.
Just a caution... Use a good Tax Accountant, as well as a Tax Lawyer who knows race horses. There are a lot of books on Syndication, but not all the info is current, nor does it pertain to Tax Law in you State or KY. I would suggest you followup with Frankie, since he appears to be in the business, and may have some worthwhile contacts. A few years back we ran accross 7 people at US Nationals, who all owned a 1/2 interest in a spacific Stallion... It was funny from where we stood, but not so from the 7 owners view point. Laura