Balmoral to reopen as horse-jumping venue
May 27, 2016,from the USTA Communications Department
Columbus, OH — The Daily Southtown (IL) has reported that Balmoral Park was sold to the New York-based horse-jumping events company Horse Shows in the Sun on Thursday (May 26) for $1.6 million.
HITS produces show-jumping events throughout the United States and plans to hold up to 14 shows each spring and summer starting in May 2017. The company’s President and Chief Executive Tom Struzzieri indicated that the venue will retain the name of Balmoral Park and that the main competition ring will incorporate the track’s tote board and finish line.
The apparent sale to Balmoral Holdings, who made a higher offer on the 200-acre site, was later rejected by the owners’ creditor.
To read the complete Daily Southtown story, click here.
- Balmoral Park may have buyer, auction put on hold (Saturday, April 30, 2016)
Loeb Winternitz, the Chicago, IL-based company in charge of the Balmoral and Maywood Park auctions, has posted a legal notice on their website (click here to go to that site) stating that they have received an offer to purchase Balmoral Park and have temporarily suspended the auction for the Crete, IL racetrack. The offer will be presented to the Bankruptcy Court on May 3.
- Winning bid emerges for Balmoral Park (Monday, May 02, 2016)
The Chicago Tribune is reporting that Rick E. Heidner’s Balmoral Holdings this past Friday offered $1.8 million for Balmoral Park and the park’s assets, according to a court filing Monday (May 2).
- Court decision on the Balmoral auction (Thursday, May 05, 2016)
Subsequent to the Court hearing, we were notified that a bulk offer for the Balmoral Park real estate and personal property was approved by the Court and accepted. The piecemeal auction bids have been rejected in lieu of the bulk sale.