This is the essential lure of MyRacehorse Stables for horse racing fans. Starting early next month, you can own a piece of Monomoy Girl for the price of a tank of gas or a nice bottle of wine.
MyRacehorse Stable paid $300,000 to Spendthrift Farm for 51% of the racing rights to the Champion Older Dirt Female of 2020. The stable, known for purchasing ownership blocks in Thoroughbreds, then selling microshares to the public, will sell 10,200 shares of Monomoy Girl.
Each share sells for $46 and entitles the buyer to a .005 share of Monomoy Girl’s purse money during her 6-year-old campaign. MyRacehorse filed the offering with the Securities and Exchange Commission, which means shares can’t be purchased until next week at the earliest – pending SEC approval. Once the SEC grants approval, shares will be offered to current MyRacehorse partners/owners, then the general public.
Even with the delay, terms of the deal likely include whatever purse money Monomoy Girl wins at Sunday’s Grade 3 Bayakoa Stakes. That’s where Monomoy Girl begins her 6-year-old season.
MyRacehorse Seized an Opportunity
This process began last November, one day after Monomoy Girl won her second Breeders’ Cup Distaff in three years. The following day, Spendthrift Farm paid $9.5 million at Fasig-Tipton’s November Sale. When the powerhouse breeding farm decided to send Monomoy Girl back out for her 6-year-old season, partners piled back on the bandwagon.
One of those was Sol Kumin, one of Monomoy Girl’s original owners, who campaigns under the Madaket Stables banner. A member of several partnerships, Kumin’s Monomoy Stables joined three other partners racing Monomoy Girl before selling her last fall.
Kumin got the Madaket band back together, a group that includes New York Mets owner Steve Cohen. They team with Spendthrift and MyRacehorse to campaign Monomoy Girl this year.
Got Stormy? You Can, for $45 a Share
MyRacehorse will also offer microshares in another Spendthrift November purchase – Got Stormy. The 6-year-old mare went for $2.75 million and Spendthrift sent her right back out to trainer Mark Casse. She’ll open her 6-year-old season Saturday at Gulfstream Park’s Honey Fox Stakes.
MyRacehorse leased 51% of Got Stormy’s racing rights for $125,000. After SEC approval, shares go on sale for $45. That entitles the buyer to .01 share in the 10-time winner’s racing rights. Like Monomoy Girl in the Bayakoa, any Honey Fox Stakes windfall pays shareowners retroactively.
Through its website, MyRacehorse offers shares in more than 40 horses. But it leaped to the forefront of public interest when it and Spendthrift offered 12,500 shares of eventual Horse of the Year Authentic for $206 each. That entitled each of the 5,314 owners to not only portions of Authentic’s track earnings from his memorable 2020 campaign, but future shares in his stud fees.