Owner Selling Shares in With a City
Updated: Thursday, April 13, 2006 4:52 PM
Posted: Tuesday, April 11, 2006 3:13 PM
Ron Peltz's Equirace.com is offering shares in its Triple Crown hopeful, With a City. With a City, who is scheduled to run in Saturday's Arkansas Derby (gr.II), was the upset winner of the Lane's End Stakes (gr. II) at Turfway Park March 25.
Peltz initially put 17 shares of the City Zip
colt up for sale. Each 2.5% share costs $50,000. Fifteen shares in the colt remain.
"I am guaranteeing that there will be no out of pocket expenses, no more additional expense (past the initial investment)," Peltz said. "They are still paying their training costs out of winnings, it is just they're never going to have to come up with any more money."
Each share also comes with a guaranteed box seat at the Kentucky Derby (gr. I).
Peltz purchased With a City in February and originally offered 25% shares in the colt at $75,000 a piece. He removed With a City from the market before the Lane's End.
"I value the share at whatever the market value is of the horse, so they were at $75,000 before the race," Peltz said. "Obviously, it was worth a whole lot more than that after the race."
Peltz said he is still receiving, and rejecting, offers in the $2.2-million range to buy With a City, as well as offers to purchase a half interest.
"He's just not available," Peltz said. "I am not going to sell all of him, so it's a moot point, but they are still calling."
Trained by Mike Maker, With a City (City Zip
-With a Princess, With Approval
) has won four of 12 starts and has earnings of $359,680.
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