Remington Park’s inaugural Racing Club offers thrill of horse ownership
OKLAHOMA CITY (Feb. 1, 2018) – In the inaugural season of the Remington Park Racing Club, 50 members enjoyed the thrill of horse ownership and received back a significant portion of their initial investments.
“Our goal with the Racing Club was to give almost anyone the opportunity to experience the thrill of owning a race horse,” said Kelly O’Hara, Racing Club manager and former jockey. “This year’s horse, Pinnacle Peak, had some earnings and was claimed at the end of season, so the 2017 Racing Club members were able to experience all the perks of horse ownership at a minimal cost.”
The 2017 thoroughbred season was Remington Park’s first attempt at hosting a horse ownership club. The concept has been executed successfully before at a handful of tracks around the country.
Members of the Racing Club put up an initial investment of $250 and, thanks to Pinnacle Peak’s earnings, received back $215.
Throughout the thoroughbred season, members received an owner’s access to Remington Park, including visiting the track in the mornings to watch the club horse during training hours and experiencing pre-race moments in the saddling paddock and visits with the trainer and jockey as they discussed strategy for races.
Remington Park also hosted a number of special events for Racing Club members, including private receptions on days when their horse raced.
“It was so much fun, and I’d never done anything like that before,” said Shelly Dobson, a Racing Club member from Edmond.
Dobson heard about the Racing Club while attending Remington Bark, the fundraising night during thoroughbred season that allows dog owners to bring their pets to the track for a night of activities and racing.
“I’ve been involved in the greyhound industry for a while, but I’ve only ever adopted retired racing dogs. I’ve never owned an actively racing dog,” she said. “I had that background, but I didn’t know much about horses and I thought this might be a good way to learn a little more. I had a lot a of fun and learned a lot along the way.”
Dobson said she and several of the Racing Club members bonded during the experience and were sad to see the season end. She added that she plans on being a part of the club next thoroughbred season.
“Remington Park was very generous in putting this together and hosting events for the club,” she said. “We had a lot of extra perks with the membership, in addition to watching the horse run. I’ll definitely do it again.”
Pinnacle Peak was purchased by the club for $7,500. The club spent nearly $5,000 on training. With jockey and veterinarian fees, total expenses came to $14,173.
Pinnacle Peak garnered $4,947 in race earnings thanks to one second-place and two third-place finishes. The horse was claimed at the end of the season for his purchase price, $7,500, for a total of $12,447 in income for the club.
Racing Club members received detailed monthly statements regarding costs for the horse, and depicting money earned from racing. At the end of the season, many owners chose to donate their remaining funds to the Remington Park charity partners. Others rolled the funds over to next year’s racing club or requested a check.
The Remington Park Racing Club is organized as a 501(c)7 not-for-profit social club. Members should not join the club with any profit motive or expectation of profit. Club members may not receive back any of their $250 membership fee. Should a profit be made, the funds go to Remington Park charities.
For more information about participating in the Remington Park Racing Club during the next thoroughbred season, contact O’Hara at email@example.com.