Microshares allow New Mexicans to partially own ‘Seize the Grey’
ALBUQUERQUE, N.M. — More than 2,400 people are sharing Seize the Grey’s Preakness victory, including a handful of New Mexicans.
“It’s a good community of people we don’t even know other than on Facebook, but they’re owners of the horse,” said David Green, a partial owner of Seize the Grey.
Green is one of more than 2,400 owners of Seize the Grey, thanks to microshare ownership.
“It’s a means for folks like my wife and I to get involved in racing,” Green said. “In the United States, with a racehorse, top quality, for $65, some shares will run $200 a share, and we can buy as many shares as we would like.”
Green and his wife were able to buy microshares through MyRacehorse. They each have one share and gifted another to a friend.
“There’s a 10% share that goes to the trainer, a 10% share goes to the jockey, so the jockey does really well,” Green said. “And then that balance goes to MyRacehorse and then they subtract the expenses. Some of the races will have a $50,000 entry fee. I don’t know what the Pat Day entry fee was, they take out all of those expenses. Then the residual balance then is given out, deposited automatically into all the owners of the horse.”
Seize the Grey is still young at three years old, but Green says he has a bright future ahead of him.
“We looked into it, then we purchased a couple of shares, and Grey is a beautiful gray horse,” Green said. “So we’ve watched them grow from that young, two-year-old baby, you know, into a mature three year old. He’s just getting better as each month goes along and each race.”
Seize the Grey recently won the Pat Day Mile. It’s a race that happens the same day as the Kentucky Derby.
“He was not even really mentioned, you know, as a favorite or being a contender,” Green said. “And he came on strong at the end and won the race. That was a $600,000 race and he brought home about $350,000 to be shared among all the owners.”