horse

Motley Crew Stable LLC is a partnership operatively under the structure of a Limited Liability Corporation. LLC’s offer the legal protection of a corporation combined with the ability and opportunity for members to take advantage of benefits associated with a partnership. Motley Crew Stables has been registered with the state of Kentucky and the IRS since 1996.

The main objective of Motley Crew Stables is to acquire a horse, via the claim box, and enjoy the thrill and excitement of thoroughbred racing. Goals of the group are: Win races, increase value of the horse claimed, add to share value, and acquire additional horses through claims or possibly at auctions.

Enough capital is raised at the outset to try and avoid cash calls to offset expenses of stable operation. Generally half of the pool is used to claim a horse, with the rest held as operating capital. This is usually enough to carry on operations for a minimum of six months if the horse does nothing at the races. In that time frame, an unsuccessful horse should have been lost via a claim from our group, or in a worst case scenario, private sell or give-away.

A successful horse, on the other hand, will increase operating capital through purse winnings or elevation in claim price. If operating capital doubles, partners decide if a second horse will be acquired or a cash payout may be preferred. Anytime the partnership is without a horse, partners may buy in or sell out their positions. An operating agreement can be viewed for any and all other scenarios of acquiring or selling ownership as well as operating decisions.