So You Want To Own a Racehorse? Join the (Churchill Downs Racing) club

D. Wayne Lukas (Coady Photography)

D. Wayne Lukas (Coady Photography)

Just in time for the Kentucky Derby, Churchill Downs is offering the chance to become involved in Thoroughbred ownership, ordinarily a pricey endeavor, for the low, low price of $500.

Churchill announced last week the creation of theChurchill Downs Racing Club, a partnership in which 200 people would become members—not owners—for a one-time fee of $500. The club itself, registered as a 501(c)7 Not for Profit Social Club, will own the horse.

According to Mike Ziegler, the executive director of racing for Churchill Downs Incorporated, the idea was so popular that the 200 spaces allotted for the membership had sold out in less than two days.

“So, even though we haven’t publicized it much, we decided to offer another membership, and that one already has 100 members,” he said.

Continue reading at Forbes.com

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