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Cooley Cross Border Syndication?

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  • Cooley Cross Border Syndication?

    I heard a rumour that Kim Severson is syndicating her horse, Cooley Cross Border for only $10,000 per share. Does anyone know if this is true? And if so, do you think it is worth it to support Kim Severson on this horse? I have been a fan of hers since her first Rolex win. Maybe this is her next big horse?

  • #2
    Only $10,000??? WOW!

    LOL. Sorry.

    Best of luck to her. I hope this one is big time, she deserves it.
    Unrepentant carb eater

    Comment


    • #3
      OP did you want to get the word out?

      http://www.experienceeventing.com/sy...dicationID=119

      Comment


      • #4
        Knowing Kim well and having seen her with this horse...I think it's well worth the price if you can afford it! I think he's going to be a big time horse for her.
        Jessica Bortner-Harris
        www.rockystartstables.com
        "Throw your heart over the fence and your horse will follow."

        Comment


        • #5
          Just out of curiosity, how many shares is she selling? 5, 10, 20? And, if you are a "tenth" (or whatever) owner, how much is your monthly trng/maintenance/etc./fee. I just wonder how eventing syndication works having been involved in race horses (where I actually got a return on my investment)
          "Everyone will start to cheer, when you put on your sailin shoes"-Lowell George

          Comment


          • #6
            Number of shares, buy in and maintenance all vary. For this horse, the buy in is 5 shares at 10k per share. These shares represent 49% of the horse's "value" The annual maintenance is $4,000. You won't ever see any return on it, but that isn't even remotely the goal. Details of many of these are on the link posted by SLR

            There are many models, for example, Sally Cousin's has a syndicate for Ideal Contini (of which I am a member) that at the lowest level is $1000 to buy in and $200 per year for the maintenance. You still get regular updates, video and photos of their progress and I am finding it a lot of fun.
            OTTBs rule, but spots are good too!

            Comment


            • #7
              Originally posted by SLR View Post
              OP did you want to get the word out?

              http://www.experienceeventing.com/sy...dicationID=119
              This syndicate has 5 shares available. If I had the money to waste, I'd jump at the opportunity to support KS.

              I just went and looked at the Available syndications for elite riders. Looks like almost every single rider has shares for sale.

              What are the tax implications for a share owner? What is the benefit to the rider over getting help with expenses? Do the monthly expenses include vet and competition costs which could be huge? I'm sure each syndicate is different, but how can a share owner get a feel for the Actual cost of a share when all costs are included? Do the share holders get a cut if the horse is sold? What about prize money?

              I did notice that owning a share of Sea Lion also includes a annual breeding to a mare of your choice. If the syndicate is still open, that is a huge benefit to the share owner.
              "I'm a lumberjack, and I'm okay."
              Thread killer Extraordinaire

              Comment


              • #8
                I don't completely understand your questions, but will give a go.
                Tax implications... None that I can think of. Tax benefits, possibly.
                Benefits to the rider.... is getting help with the expenses, so they aren't carrying the whole burden.
                The yearly expenses to the shareholder are generally set. You pay for the share and you pay so much per year. Looking at the figures for most of the syndicates, the riders seem to be covering their expenses well. Take for instance the Mr. Medicott syndicate. The yearly cost to the share buyers totals $75,000. ( if all shares are sold) That should get him to Europe and back a few times. There is nothing more for the shareholder to pay.The additional costs should be the riders burden. Since they usually retain interest in the horse, they get to pay some of the costs.
                Hope this helps.

                Comment


                • #9
                  I have only met Kim once, but she seems to be not only a great rider, but also an incredibly sweet, shy, and genuine person. I like that she seems to be the sort of rider that would rather build a partnership with her horses than just take in as many upper level horses as she can. If I had the money, I would be buy her any horse she wanted. I think she is the sort of rider Eventing needs to continue on it's "real horseman" path.
                  Rhode Islands are red;
                  North Hollands are blue.
                  Sorry my thoroughbreds
                  Stomped on your roo. Originally Posted by pAin't_Misbehavin' :

                  Comment


                  • #10
                    I love Kim, I think she's a great rider, but it sounds like this horse is on the fast, fast track to the ULs. I hate to play devil's advocate, but a six year old going Intermediate already? He's obviously a great horse, but he was only going Training less than half a year ago. Hope that maintenance fee doesn't go up for vet bills...
                    Road to the T3D
                    Translation
                    fri [fri:] fritt fria (adj): Free
                    skritt [skrit:] skritten (noun): Walk

                    Comment


                    • #11
                      At the numbers given, she is valuing the horse at $102,040 right now. With annual maintenance of $4,000 per year per shareholder, that adds up to $20,000 per year of "maintenance" (I assume this will include some competition fees). However, I wonder if that means the rider is going to contribute her 51% of maintenance (i.e. another $20,000) per year, or if that burden is only on the shareholders.
                      Blugal

                      You never know what kind of obsessive compulsive crazy person you are until another person imitates your behaviour at a three-day. --Gry2Yng

                      Comment


                      • #12
                        Originally posted by FrittSkritt View Post
                        I love Kim, I think she's a great rider, but it sounds like this horse is on the fast, fast track to the ULs. I hate to play devil's advocate, but a six year old going Intermediate already? He's obviously a great horse, but he was only going Training less than half a year ago. Hope that maintenance fee doesn't go up for vet bills...
                        On the other hand, he is not being needlessly pounded around Training and Prelim tracks...
                        Blugal

                        You never know what kind of obsessive compulsive crazy person you are until another person imitates your behaviour at a three-day. --Gry2Yng

                        Comment


                        • #13
                          Originally posted by Blugal View Post
                          On the other hand, he is not being needlessly pounded around Training and Prelim tracks...
                          If one wishes to call it "pounding" rather than "valuable experience".
                          Click here before you buy.

                          Comment


                          • #14
                            Originally posted by deltawave View Post
                            If one wishes to call it "pounding" rather than "valuable experience".
                            I figure that's up to the rider... who has been around the block a time or two...
                            Blugal

                            You never know what kind of obsessive compulsive crazy person you are until another person imitates your behaviour at a three-day. --Gry2Yng

                            Comment


                            • #15
                              Originally posted by FrittSkritt View Post
                              I love Kim, I think she's a great rider, but it sounds like this horse is on the fast, fast track to the ULs. I hate to play devil's advocate, but a six year old going Intermediate already? He's obviously a great horse, but he was only going Training less than half a year ago. Hope that maintenance fee doesn't go up for vet bills...

                              Horse has not gone intermediate already. He has just moved up to Prelim this spring and it sounds like they hope to end the year at intermediate. That is quick but not that quick. He ran as many training as a few of my horses did before moving up with a much much more competent rider.


                              MOST good horses you put the miles on at Prelim and Intermediate....not novice and training. This has been the case forever in eventing. Sounds like this horse is right on track for a very typical up bringing and mileage for a talented young event horse.
                              Last edited by bornfreenowexpensive; Apr. 18, 2013, 07:40 AM.
                              ** Tact is the ability to tell someone to go to hell in such a way that they look forward to the trip. ~Winston Churchill? **

                              Comment


                              • #16
                                He is on EN today...what a horse!! I wish the best for them in the future, he could be a serious team horse, especially with Kim on board

                                http://eventingnation.com/home/ens-g...ossborder.html
                                No Trouble
                                2/2/05 - 7/29/13
                                Rest In Peace my quirky brave boy, I will love you forever.

                                Comment


                                • #17
                                  From EN:

                                  After a solid season at novice and training level last year, Cross moved up to preliminary at the beginning of this season.
                                  Nothing unusual about this. Some horses are ready at age 6; others aren't.

                                  My horses only do what they need to do, as determined by their rider or, under current conditions, by JMP.

                                  One of my mares is doing her first recognized Prelim this weekend. She ran one BN in late 2011. Since then, she's done 2 Novice and 3 Training. To be fair, she's also done a lot of schooling shows up to Prelim level -- and schooling shows are a much cheaper, more time-effective options when you have a lot of horses to get out.

                                  CCB looks like a beautiful horse. I look forward to seeing Kim back at the top of the sport.

                                  Comment


                                  • #18
                                    Originally posted by SuperEventer View Post
                                    Knowing Kim well and having seen her with this horse...I think it's well worth the price if you can afford it! I think he's going to be a big time horse for her.
                                    Agree completely. I think Kim's attitude, work-ethic, and professionalism are the epitomy of what upper level riders should be... and I think this is a VERY special horse. I'm a long way from having the sort of $$ to be able to participate in a syndicate like this, but if I were in the position to support a BNT/horse combo, this would be it.
                                    High Quality Tack Resale

                                    Comment


                                    • #19
                                      In fact, in the EN article she is quoted to say
                                      In a lot of ways, I want to move him up to intermediate. He’s ready in a lot of ways, but I will not do that. He’s ready mentally, but he’s not ready physically. He needs six more months of preliminary.
                                      I think this truly good horsemanship....taking the time with a horse to let them develop but also not holding them back and putting needless miles on them. I've seen too much of both recently (many, many, many N or T runs on a young horse who seems to totally get the job and is ready for the next step, and also rushing a green horse along too quickly when maybe a little time should be taken to be sure they GET it). I am glad to see someone setting a nice example and taking care of their very nice youngster.
                                      Amanda

                                      Comment


                                      • #20
                                        Originally posted by bornfreenowexpensive View Post
                                        Horse has not gone intermediate already. He has just moved up to Prelim this spring and it sounds like they hope to end the year at intermediate. That is quick but not that quick. He ran as many training as a few of my horses did before moving up with a much much more competent rider.
                                        You must have read the latest EN post, then. I'm not sticking my foot in my mouth because I saw CCB's name on the Fair Hill entry list at Intermediate not long ago, *before* the article came out this morning.
                                        Road to the T3D
                                        Translation
                                        fri [fri:] fritt fria (adj): Free
                                        skritt [skrit:] skritten (noun): Walk

                                        Comment

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