Saying that California "has forsaken racing and its needs," the president of Churchill Downs Inc. announced July 6 that the company has sold historic Hollywood Park to Bay Meadows Land Company for $260 million.
A Magna Entertainment Corp. official, conceding the company's control of Bay Meadows Racetrack will soon end after five years of operation, said the Toronto-based racing giant wasn't given the opportunity to negotiate a lease extension for 2005 with the track's owner.
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