What is Sycamore Racing?
Sycamore Racing is a Thoroughbred racing partnership, normally including two fillies, consisting of a small group of people who want to experience the thrill of racing but at a reasonable cost.
Fillies are, horse for horse cheaper than colts. I always try to buy fillies with enough pedigree to have residual value in the event they are not successful on the race track. Fillies and colts with similar pedigrees have much different residual values whether successful or not. Unsuccessful colts retain little or no value as breeding prospects while fillies do retain value because of their pedigrees and their ability to be successful broodmares.
Who manages Sycamore Racing?
The Managing Partner is Francis H. (Franny) Abbott, Jr. President of Abbott Bloodstock, Inc. He is also a member of all of the partnerships. He has been actively involved in the Thoroughbred racing and breeding industry since 1977.
Who buys the horses?
Franny Abbott inspects every horse that has the potential of becoming a part of Sycamore Racing. It is ultimately his decision on which of the horses inspected and examined by our veterinarian will be purchased and put into training.
What makes Sycamore Racing different?
Sycamore Racing is designed to give every partner an equal opportunity for success. Franny Abbott as Abbott Bloodstock, Inc. is a full participant in all of the partnerships. He invests the same amount as everyone else and therefore only makes money if the partnership makes money. There are no commissions or percentage of earnings taken from the partnership by anyone until the partnership is desolved. Abbott Bloodstock, Inc. charges a management fee of $250 per month to cover office expenses.
What is the ultimate objective of Sycamore Racing?
The objective of Sycamore Racing is to introduce a group of fun, like minded individuals, to the sport of Thoroughbred horse racing, who can have a great time together and potentially become owners of their own race horses. We hope to show the partners how exciting and exhilarating a day at the races can be when you have a real interest in a race day participant.
What is included in the price of each share?
Included in the cost of each share of Sycamore Racing is the initial cost of the horse, up to and including the finalization of the partnership documents. Additionally, breaking and training costs are included for each horse through the three year-old year. We anticipate that by the end of the three year-old year they will be earning purses or have proven not to be competitive at the races. If the later is the case we would sell or find the horse an alternative occupation.
How many people are there in each partnership?
The number of partners varies, but our partnerships usually consist of eight to ten members.
Why join a racing syndicate vs. racing my own horse?
It is more fun, more cost effective and will give you far greater chance of success.
Why are partnerships set up as Limited Liability Companies?
An LLC limits the liability to the members. Only the assets of the entity are at risk, and not those of the individual.