For those who asked, YES it's Breeders Cup Weekend and YES racing does a terrible job marketing to the common folk. If it wasn't for my friend Galen sending me links on social media about the races, I would barely know the races are starting tomorrow, AND I'VE BEEN IN THE RACING BUSINESS FOR MANY YEARS! It's no wonder racing revenues continue to slide and the general public disinterest in racing can only be described as stunningly profound.
As an example, with the best horses in the world racing in the Breeders Cup starting tomorrow, ESPN makes no mention of the event on their massive home page. Instead, these are the news items mentioned at the top of the page:
The Cubs headline makes sense but all I can say is "Oh My racing executives", you are amazingly disconnected from the media reality required to reinvigorate racing as a sporting attraction.
Syndicates/Clubs/Multiple Owner Partnerships
Also, I had a question about syndicates, clubs and multiple owner partnership fees. Every group I know charges a management fee. In fact the only ones I am aware of that don't charge a management fee have been run by me. I personally never saw any reason to charge people for doing something I love and would do for free anyway.
Of course, syndicate managers are often dip shits who get to pretend like they are a big deal while playing with the group's money. I find the fees ridiculous in nature because the fees are never "effectively" indexed to the economic success of the group. In other words, these managers (many of which do next to nothing but glad hand because the trainers do all the real work) charge between 5 to 10%, take a share of the purses, and often produce annual results that range in losing anywhere from 20 to 90% of the original group principle balance, often every year.
Why people pay incompetent people to show them how to do things wrong and lose money has always intrigued me......but that's the way they work folks. Amazing but true!
Dave Astar is a race horse owner, stallion owner, breeder, 40 year business executive, and 50 year handicapper.