RR logo with crown. Redhawk Racing

Frequently Asked

As you can imagine, Thoroughbred horse investments are a highly speculative matter. Many horses do not earn enough to pay for their expenses, muchless their cost. Racehorses can be extremely lucrative if you find the next Seattle Slew, Secretariat, or Mage. They also can be costly when a horse’s expenses consistently exceed its income earned. Yes, you have to have a little luck along the way to experience success. At Redhawk Racing our focus is to have a lot of fun while hitting some “singles” and “doubles” and making a little money. If we get “LUCKY” and hit a home run…well, it sometimes happens. Redhawk Racing has the horses set up in an individual LLC to manage the costs and the risks in the most affordable means possible while providing investors with an enjoyable and fun experience. Based on the structure of Redhawk Racing (all costs and expenses are paid up front) it is difficult to craft a scenario where Members would not receive some kind of return.

Turning a profit should not be the only consideration in investing in Thoroughbred horses and Redhawk Racing. Participating Redhawk Racing at the Founders Club level actually affords you the opportunity to become part owner in a professional sports enterprise. You can experience the excitement of standing in the paddock on race day while hundreds of people look in awe at your horse as it is saddled and prepared to race. The heart pounding excitement of watching your sports franchise explode at the top of the stretch and carry your favorite racing colors across the finish line–a winner–has been described as one of the most exciting and exhilarating experiences many have incurred. As a Founding Member you can frequently attend the races, entertain friends, participate in early morning workouts at the racetrack, and tour the private stables to view the horses firsthand.

Joe Engelhart’s staff at Cincinnati Capital Corporation will maintain the books and records for Redhawk Racing. Monthly Financial Statements will be prepared and shared on the Redhawkracingclub.com website in the “Members Only” area. 

At the end of each fiscal year each member will receive a K-1 to be used for members’ individual tax returns. All PROFITS and LOSSES should be reported on member’s individual tax returns. (Consult your tax advisor)  

Typically, the answer is yes, however, each Member’s situation may be different so it is best to consult your financial advisor. 

Fractional Ownership of Thoroughbred racehorses is not a new concept. There are many sponsors of fractional ownership groups–each with a different model. Redhawk Racing is a mostly unique because it includes three horses AND all costs associated are covered at the beginning of its organization. Most other Fractional Ownership opportunities typically involve just one horse (raising the risk) and/or ongoing expenses required to be paid by the members.

We recently witnessed the benefit and success of fractional ownership during the 2023 edition of the Kentucky Derby. This year’s Kentucky Derby winner, Mage, is owned by a group of 382 people who each contributed $50.00. Some of those 382 members were on hand at Churchill Downs to watch the race and others attended one of three “watch parties.” The video clips of those members at Churchill and those attending the “watch parties” are fun to watch–the thrill the Members experienced was amazing–and each one of the 382 members can now say, “I own a Kentucky Derby winner.”

Fractional Ownership of Thoroughbred racehorses is also not unique when participants are all associated with their Alma mater. As an example, Bona Venture Racing is a racing club founded by Bonaventure University alumni. Bona Venture has been involved in Thoroughbred racing for nearly 10 years and has amassed over $4,000,000 in earnings. Interestingly, Bona Venture Racing generally acquires their horses at two-year-old in training sales and in the price range very similar to that which were paid for the three horses included in Redhawk Racing.

A “Single” would be a  horse that earns enough purse winnings to pay all of the expenses associated with its training and care. Having a horse “earn its way” is especially good for fillies in particular. If a filly is able to be useful enough to ”earn its way” it adds to her value when her racing career is complete. 

A good example of a “Double” would be Bona Venture Racing’s Summer of Fun. Bona Venture purchased Summer of Fun out of the same auction in Ocala where the Redhawk Racing fillies were acquired. Summer of Fun was purchased for $90,000 from that sale as a two year old. As a two year old she made five starts–winning one and finishing third twice. As a three year old she again made five starts–winning twice while running second once and third once.

Summer of Fun was a very competitive racehorse and retired with $306,371 in earnings making 10 starts (3 wins, 1 second, 3 thirds). She made starts at high level tracks–Keeneland, Churchill, and Gulfstream Park (Miami). Summer of Fun was then sold at auction as a “broodmare” (prospective mom) and she sold for $375,000. So, Bona Venture’s $90,000 investment returned $681,000 minus two years of training costs and selling costs/commissions, estimated at $125,000.

Generally the type of fillies in Redhawk Racing will race 2-4 years. Each of the three will be given the opportunity to begin racing in 2023 as two year olds. One or more may not be ready to run as a two year old and may begin racing in 2024 as a three year old. During their three year old season the horses will either earn purse winnings in excess of their expenses or they will be sold as a racing or broodmare prospect. If one or more of the fillies is consistently earning money, it is possible they could race until they are 5 or 6 years old.

The decision about race dates will be made by Joe Engelhart (Managing Member) in consultation with Joe Sharp (trainer) and Matt Hogan (off track trainer). It is our hope that all three fillies are capable of competing at highly competitive racetracks like Churchill Downs or Keeneland Race Course. Joe Sharp maintains a barn at Churchill Downs and Belmont Park (NY, NY) during the summer and Turfway Park (Florence KY), The Fairground Racecourse (New Orleans) and Oaklawn Park (Hot Spring AK) during the winter. Other racing venue may include Belterra Park (Cincinnati) and Horseshoe Indiana (Indianapolis) where the competition is not as robust. All Redhawk Racing members are always invited to attend however, if a Member cannot be there in person we have access to several online platforms where races can be watched and bets legally placed.

You’ll find news as well as race-day notices here on this site.  In addition, members will receive email or text alerts. Typically, horses are entered in races 4-7 days in advance of “race day,” depending on the track.

The three athletes are each in different stages of maturing as they train at Matt Hogan Stables. It is impossible to predict with any certainty when they will begin racing. That said, on 6/1/23 Toasted Roll was shipped from Matt Hogan Stables to Joe Sharp’s barn at Keeneland where she trains daily. On 7/4/23 Toasted Roll had her second “work” (full out sprint). She will continue training/ galloping everyday and approximately once a week will complete another “work”–each work progressively longer. Assuming there are no setbacks, young two year olds will need 6-10 “works” before they are fully prepared to make their first start. So, it is possible Toasted Roll will be ready to race sometime between the end of July and early September 2023.  For Love and Honor appears to be next in line and she will be shipped to Joe Sharp’s barn by the end of July. The Team expects For Love and Honor will then be ready to run in the August–October window. Bagel and Deli will likely head to the Sharp barn in the fall and be ready to run before the end of the year. As a result, there is a possibility for a LOT of horse racing action very soon. 

As a Founding Member you will automatically receive a winner’s circle picture (even if you are unable to attend the race). General Members will have the option to order Winner’s Circle pictures on the Redhawkracingclub.com website.

The attendance of friends and family is not only permitted but encouraged. THE MORE THE MERRIER! One of Joe Engelhart’s motivating factors to start Redhawk Racing was his passion to share Thoroughbred racing with family and friends.  The comradery, excitement, and thrill of being involved in the Sport of Kings is difficult to duplicate–especially when your horse wins!  

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