Leasing

This option allows for direct involvement in the ownership of a racehorse without the initial outlay of purchasing the horse immediately. By leasing a racehorse from its existing owners or breeders, (usually for a negotiated period of 3 years, depending on the requirements of the lessor and lessee), a person can race the horse in their name and also choose to exercise the negotiated purchase price option at any time of the term of the lease. If the lease purchase option is not taken up during the period of the lease, the ownership of the horse reverts to the original owners once the term of the lease expires.

Under a lease agreement, you as the owner, (lessee), pay for all training costs and associated expenses and receive prize money won by the horse less a return to the owner, (lessor), as rental, (usually one-third of prize money won).