When one of our horses is claimed, sold, or retired to a good, safe home once its racing career is over, WV Stables provides a cash flow statement for each co-owner, detailing income and expenses, and the management agreement is terminated. At that time, each co-owner receives his/her share of any profits or losses according to the management agreement. Under no circumstances is any co-owner ever required to pay any additional money beyond their initial payment for the Co-Owner interest. If expenses exceed income by more than the amount the co-owner initially paid, WV Stables absorbs the additional loss.
All participating Club members are given three options at the end of a horse's racing career when there are proceeds left after settling the accounts on the horse:
1. Receive a check for the proceeds.
2. Receive a wire to a bank account for the proceeds (NOTE: there is a $6 charge for doing this).
3. WVS Horse credit for the proceeds and we add an additional $20 to the total.
ADDITIONALLY, when a horse has a positive return, club members have the option of donating $5 to the WVS Aftercare program. The total amount collected from that horse is donated to an accredited aftercare program in the state in which the horse was running.