Our most popular questions and answers
Question: I've always wondered how an individual or group can get into horse racing as an owner. How is this done?
Answer: The first step in becoming a Thoroughbred owner is to contact a trainer. Prospective owners who contact Marvin Johnson will be asked to set up a meeting so both the trainer and his prospective client(s) can get to know each other. Neither the trainer or the owner(s) are under any obligation at this point. This meeting is strictly for information and get-to-know purposes.
Once that meeting takes place, Johnson and the prospective owner(s) will more than likely decide if they want to enter into a business relationship.
Question: Let's say I've met with Marv and both he and I agree that I should hire him as my trainer. How do I go about getting a horse?
Answer: There's several ways prospective owners can acquire a horse. The most common way for owners to acquire a horse is to claim, or purchase, one.
At racetracks throughout North America, there are multiple claiming races run on any given day. Horses entered in a claiming race can be purchased, or claimed, for a set price that starts at $2,500 and can go as high as $100,000 or more. The claiming game is somewhat of a risky business, as horses must be claimed before a race begins and there are no refunds. What an owner claims is what he gets, regardless of the condition of the horse. Also, trainers who are thinking about claiming a horse are not allowed to have a veterinarian inspect the equine before a claim slip is dropped.
Owners can also breed their own stock or purchase horses on a private basis.
Question: Obviously, $100,000 is a lot of money. Will it cost me that much to claim a horse?
Answer: No. In Indiana, Marv typically claims horses that range in price from $10,000 to $40,000.
Marv will gladly notify owners when he thinks there is a horse worth claiming. Prospective owners can also make suggestions, but should leave all final decisions up to the trainer.
Question: I've always talked to a couple friends about owning a horse. Can I form a partnership where all parties involved split all costs?
Answer: Absolutely. For bookkeeping purposes, Marv offers prospective owners a chance to buy either 25, 50, 75 or 100 percent of a horse. We mention bookkeeping because it gets to be too much of a hassle if smaller shares of horses are sold.
Remember that Marv would like to meet with all prospective owners before any deals are reached.
Question: Is it expensive to own a Thoroughbred race horse?
Answer: Obviously, there are costs associated with owning a horse. Horses in training receive royal treatment, with constant grooming, feeding and 24-hour veterinary care available. There's also miscellaneous expenses like new shoes and a lead pony that takes the horse to the starting gate on race days.
A daily fee owners pay covers all feed, training and grooming expenses. Owners will receive a separate bill for veterinary care. Shoeing and pony expenses are added on to the training bill. Owners are billed once per month for Johnson's services. Marv will discuss his daily training fee with prospective owners once they agree to meet with him regarding a possible business arrangement. Johnson also receives a 10 percent commission on all horse earnings.
