Churchill Downs Launches Racing Club

Churchill Downs Inc. is introducing its first racing club as a way to provide a low-risk, low-cost experience with racehorse ownership.

The Churchill Downs Racing Club will offer up to 200 shares at $500 a piece in a horse that will be purchased privately, trained, and managed by Hall of Famer D. Wayne Lukas. The plan is for the horse to start during Churchill Downs' spring meet that opens April 30 and runs through July 2.

"We want to introduce that experience to racing fans who may have wanted to try in the past but didn't know how," said Mike Ziegler, Churchill Downs' executive director of racing. "Now they get to give it a shot with one of the greatest trainers of all time."

The all-inclusive entry fee covers the cost of acquiring the horse and the training fees, which will be disclosed to club members. The club has been been organized as a 501(c)7, which is a not-for-profit social club. Churchill executives stress that people should not register with the expectation of making a profit. If the club's account does turn a profit, the members will decide how the money is distributed. They could even decide to buy a second horse.

"The object is to give them as much of the actual experience of ownership as possible, including—if you have some money—learning about buying a horse," Ziegler said. "It would be a good problem to have."

Registration is open until all shares have been sold. Just on word-of-mouth, Zieger said the response has been terrific. He said he expects the club should be ready to operate within a week.

Anyone interested can register at ChurchillDowns.com/RacingClub.