Bailey pulls out of deal to lease Monmouth Park
December 12, 2011,from the USTA Communications Department
Columbus, OH — The Asbury Park Press is reporting that Morris Bailey is withdrawing the $5 million letter of credit he had posted as a condition to take over management of Monmouth Park and its off-track wagering licenses.
The story adds that Bailey’s departure leaves the state options that include rebidding the lease, keeping the track under the management of the New Jersey Sports and Exposition Authority or suspending operations.
To read the complete story, click here.
Related Articles:
- Bailey wants out of deal to lease Monmouth (Thursday, December 08, 2011)
The Newark (NJ) Star-Ledger is reporting that a dispute over a license for additional racing dates at Monmouth Park has shut down talks to privatize the racetrack.
- Dec. 20 deadline set for Monmouth deal (Monday, December 12, 2011)
The Asbury Park Press is reporting that a Dec. 20 deadline has been set by New Jersey racing regulators to certify any transfer of Monmouth Park’s racing permit to new management.
- Christie threatens to end Thoroughbred racing at Monmouth Park (Monday, December 12, 2011)
New Jersey Governor Chris Christie has blamed a Thoroughbred horsemen’s group for the breakdown of a deal to place state-owned Monmouth Park under private management.
- Monmouth Park deal completed; Gural receives extension (Tuesday, December 20, 2011)
The Asbury Park Press is reporting that New Jersey State officials and representatives of a Thoroughbred horsemen’s group agreed on a deal late Monday to keep Monmouth Park open in 2012.