It may soon be possible to buy into a 20-horse racing stable for the price of a pizza.
That’s the plan envisioned by Frank Stronach, the owner and breeder who last year took possession of a half-dozen racetracks previously owned by a publicly traded company he controlled. In registration statements with the Securities and Exchange Commission filed late in December, Stronach outlined a plan to offer shares in six racehorse-ownership companies for $10 each, lowering the barrier to a level never before seen in the U.S.