"One of the biggest things he instilled in me was that, the business comes first. It's not about yourself, it's not the personalities or jealousy or personal agendas...it's about everybody. This business is good for Prince Edward Island. It pumps money into the economy, millions of dollars through rural P.E.I."

Fourth-generation horseman Nicholas Oakes is driven to carry on the values instilled in him by his late father and prominent harness racing industry leader, Kent Oakes, who passed away suddenly in a car accident in late June. In an effort to introduce people to harness racing and racehorse ownership, Nicholas is continuing to promote a fractional ownership stable he runs in Prince Edward Island, offering as little as five per cent shares in horses he trains. 

"For every person you sell a share to, they take their wife, they take their parents, they take their kids, take their friends, their neighbours to the races. And it just exposes them to the business," Oakes told CBC News.

The fractional ownership model in harness racing has been an opportunity for industry growth that has taken off in recent years, making ownership less risky and more accessible to people that may not have the experience or means to get involved on a larger, more traditional scale. In particular, on the Prince Edward Island, between 15 and 20 per cent of the total number of horse owners are fractional owners, according to the P.E.I. Harness Racing Industry Association. Oakes, who launched his fractional stable in 2022, has five horses this year shared by 22 owners. 

"Ever since my father passed away, there's a song I've been listening to a bunch by Keith Urban, and one of the lines in it is: 'When somebody says I hope I get to meet your dad, I just smile and say you already have.' And that's how I wanna live my life, that's going to be my life motto: the business comes first, harness racing comes first, it's good for the province. And I'm going to pass that on to my son, just like he did for me."

Click here to read the CBC News article in its entirety.

(With files from CBC News)