Only a fool would go into racehorse ownership expecting to make a profit...its a hobby albeit an expensive one and therefore you would expect to pay to enjoy it.
Judging by the tough decisions they have made so far as owners of Leicester City ( sacking of Raneiri etc) i think they are far from being fools,
Most horserace trainers would want to keep them as owners longterm, so it would not be in thier interests to "rip them off". Would expect them to move the horses into one stable .with someone they trust ...Andrew Balding ?
Agree that buying horses with entries just before Royal Ascot is probably not a cost effective way to buy them but 2 million to them is hardly a life changing amount !