This can't be good
 

This is like the Cubs and White Sox forming one team....SO RIDICULOUS, almost as ridiculous as letting Jesse Jackson into racing

Churchill Downs, Magna Join Forces in Bid for New York Racing Franchise
by Blood-Horse Staff
Date Posted: 8/4/2006 8:48:29 AM
Last Updated: 8/4/2006 8:48:29 AM


Robert L. Evans, Churchill Downs president and CEO, said Magna and his company can enhance the racing experience in New York.

Edited Churchill Downs release
Churchill Downs Incorporated and Magna Entertainment Corp., the two largest track-operating companies in the U.S., announced Friday that they have entered into an agreement to cooperate in the bidding process for the New York racetrack franchise, which is currently held by the New York Racing Association and will expire Dec. 31, 2007.
In addition, CDI and MEC look to join other New York racing and business entities interested in forming a larger group to bid on the racing franchise that includes Aqueduct Racetrack, Belmont Park and Saratoga Race Course. In June, the state of New York initiated a process to formally invite bids for the franchise.

CDI and Magna own many of North America's other premier racing venues -- including Churchill Downs, Santa Anita Park, Gulfstream Park, Arlington Park, the Maryland Jockey Club, Fair Grounds Race Course, Calder Race Course, Lone Star Park and Golden Gate Fields. The two companies have already partnered in "Racing World," a London-based satellite television service that delivers North American horse racing content to customers in the United Kingdom and Ireland.

"By working cooperatively, we can improve and enhance customers' entertainment experiences at the three racetracks that make up the New York franchise," said Robert L. Evans, CDI's newly appointed president and chief executive officer. "Our companies have already experienced the benefits of working cooperatively, and our affiliation will maximize the contribution we can make to the future success of New York racing."

"It is not the goal of either MEC or CDI to control New York racing," added MEC Chairman Frank Stronach. "Our intention is to provide our companies' collective expertise to a bid group comprised of prominent New York enterprises and others with the capability and desire to win the franchise and the commitment and resources needed to revitalize New York racing."

Bottom line is real simple. They looked at the list of bidders and realize that there isn't a chance in hell that they can outbid Steve Wynn, MGM, or Steinbrenner's group. Doesn't take a rocket scientist to see that. This is called desperation. No way in hell either of those two or a joint venture of those two gets this franchise, no way in hell.

NOTHING is more RIDICULOUS than letting "The Reeeevranhd Jesse Jackson" into horse racing. Has to be single handedly the stupidest thing ever in the history of horse racing.

and I agree with Mike...smeels alot like desperation on the part of MEC and Church

Friends of NY racing/Empire can wave goodbye as well. Absolutely no chance either.
Its a three horse race. Wynn, MGM/NYRA, Steinbrenner's group. Those are the three with CASH reserves to bid on this and win. Whoever wants it most will get it if its truly left up to a bidding process. Wynn has as much money in his sock and underwear drawer as Magna and Cd do combined. MGM and Steinbrenner don't exactly have a whole lot of worries either.

Well I agree. But I think there is a larger picture here. I really believe than CD will acquire MEC. I really believe the main goal of CD is to control the major tracks in North America where slots are legal. CD would love to own all 3 triple crown races. But dont be surprised if CD absorbs MEC.

Kev I thought you were a good Democrat. How dare you question the integrity and honor of one of your party's most revered and influential members!! Shame on you. LOL!!!!!!

Well yeah I agree. I think everyone kind of knew it was going to be a 3 horse race. It was just a matter of who was going to be aligned with who.

You realize that Wynn has had virtually no mention at all as a bidder but that he has the cash reserves to blow everyone else away?
I was ignorant of his interest in this. If he really wants this he can outbid the others and not be taking as big a gamble as the other guys because he can sustain short term losses without going belly up. When will we read more about his intentions and who would be involved with the racing side should he get it?

Wynn is a total surprise to me. But if he wants it, he can get it. I honestly thought it would be between MEC, CD and MGM/NYRA. I was caught a little off guard.

This would never been allowed by the FTC....it would be considered a monopoly

How would it be a monopoly? CD wouldnt own all the tracks, just the major ones.

Give it to Excelsior (Steinbrenner's son-in-law's group) just as long as they don't partner with NYRA. They have a former Trump advisor too. Only an idiot would allow NYRA to have anything to do with it.

Come on man...we are having a great day around here...don't try stirring sh*t up....just relax....please.

exactly, it would give the smaller tracks no chance to succeed...I am not sure on the full specifics of a monopoly but they would control almost EVERY major track in the industry. The only one they wouldn't would be is Del Mar and Oaklawn, I can't think of another major track where they wouldn't have their hooks in.

Does everyone think that they will just go with the highest bidder or who has the most cash?

Steinbrenner used to own Tampa Bay Downs. They know what they are doing. I don't think anyone here cares if NYRA gets it, they just want NY people to get it. The Excelsior group is plenty NY.

I think you got to be pulling for Steinbrenner. I'm a Red Sox fan, but you HAVE to respect the man. Always looking to put a competitive, winning team on the field and yielding lots of success since he came aboard.

You have to think Steinbrenner and those in his group would take racing in the same light. I think them winning the bidding is a great thing for racing.