MI Developments intends to offer Thistledown, the Ohio racetrack near Cleveland, for sale during a May 25 auction in New York.
The Ohio State Racing Commission Aug. 20 brought the grade II Ohio Derby back to the schedule this year by ordering a reduction of five live racing days at Thistledown, traditional host for the only graded stakes in the Buckeye State.
Thistledown, at the suggestion of the Ohio Horsemen's Benevolent and Protective Association, has suspended the $300,000 Ohio Derby (gr. II) for 3-year-olds. The race was to have its 75th running in 2009.
The Ohio State Racing Commission ruled March 19 that Thistledown's racing permit will be suspended as of March 28 if parent company Magna Entertainment Corp., which filed for Chapter 11 bankruptcy protection March 5, fails to renew a $1-million bond.
Thistledown, the Ohio racetrack that has shaved about 50 racing dates off its schedule since 2005, has requested another major reduction for 2008 to maintain profitability.
The worst power outage in North American history has resulted in cancelled races and significant handle losses for tracks throughout the Northeast and Midwest.
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