MAGNA: Desperate hours fast approaching..

[Pedigree Ann]

Originally Posted by slotdirt

I've heard rumor Laurel Park is as good as gone.

I thought MEC only ran the meets and didn't own the plants in Maryland.

[slotdirt]

I don't know, thought I saw an article on it in the Post. Let me do some digging.

[phystech]

Originally Posted by Pedigree Ann

I thought MEC only ran the meets and didn't own the plants in Maryland.

Magna owns both Laurel and Pimlico, as well as the old Bowie Race Course which is now a training center.

I haven't heard a whole lot but one big thing I have heard - there's no racing on the schedule after the Preakness. Typically, Pimlico runs through Belmont Day.

[Round Pen]

If We could get Halsey Minor To Buy Gulfstream and Restore it to the way it used to be

[Pedigree Ann]

Originally Posted by phystech

Magna owns both Laurel and Pimlico, as well as the old Bowie Race Course which is now a training center.

I haven't heard a whole lot but one big thing I have heard - there's no racing on the schedule after the Preakness. Typically, Pimlico runs through Belmont Day.

"MEC acquired a majority interest in the operations of Laurel and its sister track, Pimlico, in November 2002." its says on the MEC tracks site.

Whereas, the same site says, "MEC acquired Gulfstream Park in September 1999."

This sounds to me like MEC only holds the license and runs the racing and doesn't actually own the facilities. This is what I recall from when they made their deal with another lousy manager of tracks, the younger Mr. de Francis. But without the licensee, the track can't run, so it amounts to the same thing.

[phystech]

Originally Posted by Pedigree Ann

"MEC acquired a majority interest in the operations of Laurel and its sister track, Pimlico, in November 2002." its says on the MEC tracks site.

Whereas, the same site says, "MEC acquired Gulfstream Park in September 1999."

This sounds to me like MEC only holds the license and runs the racing and doesn't actually own the facilities. This is what I recall from when they made their deal with another lousy manager of tracks, the younger Mr. de Francis. But without the licensee, the track can't run, so it amounts to the same thing.

I can assure you, Magna owns the facilties at Laurel and Pimlico. In fact, they also own the catering business that runs the bars and eateries at the tracks, they own the manure hauling, they own the vans that transport horses from Bowie to Laurel or Bowie and Laurel to Pimlico, etc. etc......

[Cannon Shell]

Originally Posted by phystech

I can assure you, Magna owns the facilties at Laurel and Pimlico. In fact, they also own the catering business that runs the bars and eateries at the tracks, they own the manure hauling, they own the vans that transport horses from Bowie to Laurel or Bowie and Laurel to Pimlico, etc. etc......

Which is the root of the problem...

[Scav]

I was reading an article that guys like Baffert and Hollendorfer were listed as creditors on the filing? Why would MEC owe these guys money, I thought the purse accounts were separate from the track??