MD tracks auction

[takeout]

What happened with (to?) the Magna chapter 11 Maryland tracks auction? Was it postponed again? Last I heard it was supposed to be on 2-10. Haven’t seen anything about it.

[proximity]

it was rescheduled for feb 23.

who are we all rooting for here?

[bisket]

anybody thats gonna keep pimlico, and get rid of laurel :ThmbUp:

[Grits]

What happened with (to?) the Magna chapter 11 Maryland tracks auction? Was it postponed again? Last I heard it was supposed to be on 2-10. Haven’t seen anything about it.

It was delayed. After further investigation, it was learned the tracks were reported as being in peril, or near death, to owner, Mr.Frank Stronach.

As usual, Stronach having no clue.

He, this time, turned to fellow owner (and new close friend) Mr.Ahmed Zayat, who quickly found a solution that would, indeed, benefit Mr.Stronach.

Mr.Zayat conveyed a recent similar situation he found himself in. He avised Mr Stronach:

Real estate being a bit different from horses, though still along the line of commodities and mortality--to any and all inquiries, report the tracks, at first, "in peril". Come back in a few days, upon more inquiries and report them "dead". Afterwhich time you will be able to collect, quite handsomely, on the insurance you hold on all properties. Require check amounts be made payble to yourself and deposited in your accounts, worldwide, ie, Canada, Austria, etc, etc.

In the meantime, I can trust, your Chapter 11 Bankruptcy Filing and its proceedings will continue on a path that will be to your advantage.



(Now Frank, you listen to Ahmed's plan, dude's the sharpest knife in the drawer.)

[Relwob Owner]

anybody thats gonna keep pimlico, and get rid of laurel :ThmbUp:


Question for ya....why would you favor Pimlico over Laurel? I have been to both places several times over the years and am interested to hear your take.

[bisket]

Question for ya....why would you favor Pimlico over Laurel? I have been to both places several times over the years and am interested to hear your take.
both tracks are basically a lost cause. they need to start over, and ditch this band aid way of doing things. if you buy both, laurel is property that is in a prime location for development. exactly half way between balto and washington. with the military base realignment (brac) we're going to be getting lots of new citizens in the near future. laurel is a short distance from nsa (national security agency) and fort meade. real estate in the balto - washington area has held its value. pimlico is in an enterprise zone and is eligible for many tax rebates. historically pimlico is the prize and laurel the afterthought. if done correctly pimlico and maryland racing can be returned to its place in the game. we still have a good network of breeders (although its decreasing year by year) in the area. it just makes more sense to do it that way. magna could never come up with the capital. they've basically been chasing their arse for the past 5-10 years. so in essence you could finance the rebiulding of pimlico by selling off the land in laurel. i'm sure the state's arm could be twisted for some cheap loans etc.

[Relwob Owner]

both tracks are basically a lost cause. they need to start over, and ditch this band aid way of doing things. if you buy both, laurel is property that is in a prime location for development. exactly half way between balto and washington. with the military base realignment (brac) we're going to be getting lots of new citizens in the near future. laurel is a short distance from nsa (national security agency) and fort meade. real estate in the balto - washington area has held its value. pimlico is in an enterprise zone and is eligible for many tax rebates. historically pimlico is the prize and laurel the afterthought. if done correctly pimlico and maryland racing can be returned to its place in the game. we still have a good network of breeders (although its decreasing year by year) in the area. it just makes more sense to do it that way. magna could never come up with the capital. they've basically been chasing their arse for the past 5-10 years. so in essence you could finance the rebiulding of pimlico by selling off the land in laurel. i'm sure the state's arm could be twisted for some cheap loans etc.



Good info and thanks for your take.... From a current physical sense I feel like Laurel is the more attractive property but you bring up some good points about Pimlico and possible advantages there....my other thought is that Laurel may be a better location of focus in terms of its proximity to DC/Northern VA/Bethesda area and some of the same reasons for it being a prime area for development would be the same reasons to keep a track active there.....however, that hinges on good things being done in the future to turn things around racing wisedefinitely a complicated situation and it will be interesting to see how it shakes out. Maryland has such a strong past and current racing tradition and what is happening now is a shame....I just hope things get better

[takeout]

it was rescheduled for feb 23.Did they say why?

[proximity]

front page here at p.a. is now saying it's postponed yet again!!:rolleyes:

[bisket]

Good info and thanks for your take.... From a current physical sense I feel like Laurel is the more attractive property but you bring up some good points about Pimlico and possible advantages there....my other thought is that Laurel may be a better location of focus in terms of its proximity to DC/Northern VA/Bethesda area and some of the same reasons for it being a prime area for development would be the same reasons to keep a track active there.....however, that hinges on good things being done in the future to turn things around racing wisedefinitely a complicated situation and it will be interesting to see how it shakes out. Maryland has such a strong past and current racing tradition and what is happening now is a shame....I just hope things get better
you know the funny thing about this northern va and washington angle is when the building of colonial downs was being discussed 10 years or so ago. that track was supposed to serve the northern va and washington area. how they decided to build it off route 64 is beyond me. the track is in nowhere land. if your stabled in baltimore or at fairhills its a 4 hour ride to colonial. colonial has a tougher time filling races than santa anita. colonial down is another project that had the kiss of death attached to it by the genius of frank defrancis jr.

[takeout]

I wonder why all of the stalling?

[Tampa Russ]

I wonder why all of the stalling?

More than enough signatures to challenge the recent slots zoning approval at Arundel Mills were gathered and submitted prior to the deadline. They are being reviewed for authentication now. If they are validated, that initiative will be be placed on the ballot this Novemeber, and in theory, would increase (at least temporarily) the value of the Laurel property for auction purposes.

[cj's dad]

Scrap both Pimlico and laurel and build a state of the art facility in or very near downtown Baltimore.

Any location near the Inner Harbor, and there are many available, would attract racing fans AND tourists alike. Sale of both properties plus help from the state could make this happen.

[Relwob Owner]

you know the funny thing about this northern va and washington angle is when the building of colonial downs was being discussed 10 years or so ago. that track was supposed to serve the northern va and washington area. how they decided to build it off route 64 is beyond me. the track is in nowhere land. if your stabled in baltimore or at fairhills its a 4 hour ride to colonial. colonial has a tougher time filling races than santa anita. colonial down is another project that had the kiss of death attached to it by the genius of frank defrancis jr.


You are right on target there.....they managed to put Colonial just far enough away from NOVA/DC from the North and the Richmond from the South to make sure noone would go........

As far as Laurel goes, you can really tell it is on itls last legs there....on Thursday, there was a huge water buildup on the stairs by one of the main entrances going up from the paddock outside into the grandstand and it was almost impassable.....once I was done sloshing through the mud and had sufficiently soaked my shoes and pants, I asked 5 or 6 people inside working there what the deal was and if someone could fix it and people looked at me like I was speaking another language......

[takeout]

More than enough signatures to challenge the recent slots zoning approval at Arundel Mills were gathered and submitted prior to the deadline. They are being reviewed for authentication now. If they are validated, that initiative will be be placed on the ballot this Novemeber, and in theory, would increase (at least temporarily) the value of the Laurel property for auction purposes.
Ah! Of Course. Trying to get the price up.

Here’s a weird thought. Could they possibly be trying to stall all the way until Nov.? That would be an all or nothing type play but huge bucks for the sale if Lrl was allowed to get slots.

[bisket]

Scrap both Pimlico and laurel and build a state of the art facility in or very near downtown Baltimore.

Any location near the Inner Harbor, and there are many available, would attract racing fans AND tourists alike. Sale of both properties plus help from the state could make this happen.
i could go for that :ThmbUp: . i just think we need to start over and this is a good chance for that. you know unlike alot of states we have a core of knowledable and good breeding farms with alot of history. i just don't think two tracks are the answer. we did things the right way for our football and baseball teams. why should our racing industry be any different. hopefully good local ownership buys the tracks, and we can do right by them. theres a good fan base. we get 100k plus for the preakness. theres a core of 15-20k that'll attend the track on a regular basis if the facilities are in better shape, and theres a slots parlor to attract new fans. one thing about the harbor idea. it would be much easier for night racing :ThmbUp: . i think that has to part of the deal.

[Relwob Owner]

i could go for that :ThmbUp: . i just think we need to start over and this is a good chance for that. you know unlike alot of states we have a core of knowledable and good breeding farms with alot of history. i just don't think two tracks are the answer. we did things the right way for our football and baseball teams. why should our racing industry be any different. hopefully good local ownership buys the tracks, and we can do right by them. theres a good fan base. we get 100k plus for the preakness. theres a core of 15-20k that'll attend the track on a regular basis if the facilities are in better shape, and theres a slots parlor to attract new fans. one thing about the harbor idea. it would be much easier for night racing :ThmbUp: . i think that has to part of the deal.


Way too many good points to ever become a reality:).....I like the night racing part in downtown Bmore-would be sweet

[Rise Over Run]

hopefully good local ownership buys the tracks, and we can do right by them.

I think the DeFrancis kids are trying to get involved again... :bang: :bang:

[Relwob Owner]

I think the DeFrancis kids are trying to get involved again... :bang: :bang:

Yeah, that cant miss........

[takeout]

http://voices.washingtonpost.com/annapolis/2010/02/md_jockey_club_spents_377000_t.html

[snip]
The Jockey Club has spent all but $878.50 of the $377,876.87 that was reported by coalition.
[snip]

Comment: I guess the MJC isn’t as broke as I thought they were.

[Tampa Russ]

Ah! Of Course. Trying to get the price up.

Here’s a weird thought. Could they possibly be trying to stall all the way until Nov.? That would be an all or nothing type play but huge bucks for the sale if Lrl was allowed to get slots.

I think Frank's working on a way to keep LRL, at least that would be my best guess.

[bisket]

a little known fact is that md racing is the only tracks that have been making money for magna for years. they have finished every year in the black for the past 4 or 5 years.

[takeout]

I think Frank's working on a way to keep LRL, at least that would be my best guess.I've wondered about that too. I wouldn't rule anything out at this point.

[takeout]

a little known fact is that md racing is the only tracks that have been making money for magna for years. they have finished every year in the black for the past 4 or 5 years.And they were making money for DeFrancis before that.

I think that’s probably true of a lot of tracks that are screaming poor-mouth in order to try and get slots. I think they make money, just not the tens of millions a year that their owners would like.