Quote:
Originally Posted by AlsoEligible
Not sure how much Todd can comment (if at all) in this forum, but I'm absolutely giving him the benefit of the doubt unless something more tangible comes to light.
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I'm happy to address the ownership of PTC, and hopefully clear up the misconceptions in the BloodHorse story.
Brian Sodi was one of the original partners in Premier Turf Club, LLC and provided startup capital to get the company going. Our current owner, Wes Berman was also an original partner.
Initially I was hired as a consultant to PTC in July of 2010. When our previous GM resigned from the company that October, I was asked to take over running the company, and became GM on November 17th. During the transition period, I was informed by Brian and Wes that they were in the process of negotiating an agreement for Wes to buy out Brian's share of the company, so that Wes would be the sole shareholder moving forward. The purchase of Brian's interest was completed a couple of months later.
After it was completed, I received copies of the Sales Agreement and the Membership Resolution, both of which confirm Brian has no further interest in the company. There is also a subsequent Florida corporate filing dated April 27, 2011 which shows Brian was removed as the Managing Member.
Those documents were reviewed by the Kentucky Racing Commission's counsel when we filed our 2012 application. PTC also underwent an update to our TRPB background report in the fall of 2012, which included notifying them of the ownership change. Every license application we have filed in Oregon (and elsewhere) since 2011 has listed Wes Berman as the sole shareholder of PTC.
We are obviously disappointed with the BloodHorse story, but the facts of the matter are that Brian Sodi hasn't had any operational control over PTC since the fall of 2010, and the purchase of his equity interest was completed in January of 2011.
Wes Berman remains our sole shareholder, and is the only person I have ever reported to since I became GM.
