04/27/2016 3:43PM

Churchill Downs Racing Club sells out shares

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The new Churchill Downs Racing Club already has sold out its initial 200-member allotment and is working on filling a second group, according to Gary Palmisano Jr., who is helping to manage the club.

For $500, a Racing Club member gets fractional ownership of a Thoroughbred to be trained by D. Wayne Lukas and other perks. The first horse will be a 2-year-old whom Lukas hopes to debut at the upcoming meet.