Morning Line Club (“MLC”) is the first web3 exclusive horse racing club where membership is purchased on the blockchain. We’re looking up the stakes in the game and bridge the real-life excitement of horse-racing with blockchain technologies, thereby opening opportunities for folks who otherwise had limited access to this space.
As a member of the club, you will receive exclusive content, perks and updates on all of our racehorses without any upfront fees. You will be part of a club with like-minded individuals with a love and passion for horse ownership and stay in the know on everything MLC and horseracing.
What does ownership in the club mean?
Members who are accredited investors can purchase a limited ownership spot which will entitle them to receive Racing Cards and Breeding Cards for the horses purchased by MLC which is included in the ownership fee. Owners will also receive additional perks, rewards, and benefits within the club.
A Racing Card is specific to a horse which allows you to invest in the performance of the horse on the track and share in 80% of the purse winnings of each race for that specific horse. Racing Cards allow you to manage your own portfolio of thoroughbreds which can be sold, purchased, and traded on the MLC Marketplace in order to maximize a return.
A Breeding Card is specific to a horse which allows you to share in 50% of the breeding rights and revenue generated by that specific horse. Breeding Cards allow you to make long-term investments on a specific horse and diversify your investment exposure to what is traditionally an inaccessible aspect of horse racing. Breeding Cards can be sold, purchased and traded on the MLC Marketplace.
No. Once you pay your ownership fee you will be entitled to receive Racing Cards and Breeding Cards with no other obligation to pay any additional fees or provide any further capital investment.
When I become a member or purchase ownership in the club do I have any liabilities?
No. As a member or owner of MLC you will not have any direct liability.
We share 80% of the prize money earned by MLC from each race with the holders of the Racing Cards pro rata.
No.
KYC procedures help prevent identity theft, money laundering, financial fraud, terrorism financing, and other financial crimes. Failure to meet KYC requirements can result in steep fines and penalties for the Company.
The offering that MLC is selling is a security and registered under a 506(D), and so in order for you to purchase a ownership spot and reap the benefits and rewards you need to be an accredited investor. To qualify, you need to sign up on our website and fill out an Accredited Investor Questionnaire. Once approved, you will be given the opportunity to purchase a limited ownership spot.
MLC is offering a unique product – an Asset Backed Non-Fungible Token (“ABNFT”). As a whole, the NFT market suffers from massive volatility, in part, because there are not any mechanisms in place yet to help price assets. However, products offered by MLC are not dependent upon speculation or what someone else is willing to pay for them. Whether ETH is valued at $1 or $1600, it has absolutely no reflection on what an ABNFT at MLC would be worth.
Yes. You will never be required to provide a capital call as a member or owner of MLC. Once you purchase your ownership spot you won’t have to make another purchase if you do not want to. You will also have the ability via our secondary private marketplace to sell, trade or buy other Racing Cards and Breeding Cards providing instant liquidity on your position.
Traditional syndicates have high upfront costs, require capital calls once the horse turns a certain age, lack diversification as you only invest in one horse, and do not offer any benefits based on the success of the entire barn. It’s also very difficult to sell your interest in a traditional syndicate, so there’s a lack of liquidity.
MLC has put together a team of professionals that have been in the industry for over 40 years, starting with Tom Taaffe, who will personally oversee the selection process for the horses that MLC purchases.
Our website will have a private login username and password which will provide members with regular updates (training reports, videos, next race schedules, injury reports etc.) on all horses in the MLC barn.
Horses in the MLC barn will be racing in competitions around the globe. Depending on the horse and its pedigree, and by extension the trainer, our team will decide what competition, track and location is best suited for each horse for the greatest chance of success.
As a member of MLC, you will be provided with a username and password to login to your private user dashboard. That user dashboard will provide you with information such as what Racing Cards and Breeding Cards you own, financial rewards earned, as well as information on the horses in our barn such as training reports, videos, past performances, and upcoming race schedules.
Our team of experts will have the decision-making authority to determine when, where and how often the horses run to ensure they have the best chance for success – while maintaining their health and conditioning.
If the horse is healthy, the average time between races is approximately three weeks, while, on average, racehorses race about seven times per year.
At MLC we have teamed up with the best trainers around the globe that were handpicked by Tom Taaffe.
Members of MLC do not have any say in how the horses are managed.
Some of the greatest Thoroughbred racehorses, including Seabiscuit and Man O' War, raced for only two years before retiring. Others, like 16-consecutive race winner Cigar, continued racing as a 5-year-old, but for the most part a horse's racing life will last perhaps three or four years.
We are looking to purchase shares in approximately 30 horses for the Fund 1, our beta test.
Yes.
Yes, we will have Equine Mortality Insurance on all of our horses. As a rule, the premium for mortality insurance on racehorses is about 5% of the value of your horse. So if you are paying the appropriate amount in premium, you can be assured of recouping at least the market value of the horse in the event of its death or necessary euthanization.
Yes, as a member of MLC you will be offered the ability to attend races to see our horses live.
With MLC you are not simply buying a horse - you are buying an experience in the horse-racing industry, filled with a host of opportunities, race day excitement and networking potential! In Horse-racing, it is all about the performance of the horse – this is a numbers game. The more horses in the barn, the better chance for success of landing a Stallion or a Graded Stakes winner. With MLC, you are getting the benefit of that diversity and not putting all your eggs in one basket.
Yes, MLC takes the welfare of animals very seriously and is committed to caring for our horses throughout their lifetime and beyond their racing careers. MLC will be participating in charities and organizations that support the care of equine athletes.
Once the platform is open to the public, head over to www.morninglineclub.com sign up and become an accredited investor and KYC today if you are looking to buy an ownership slot.