Bailey wants out of deal to lease Monmouth
December 8, 2011,from the USTA Communications Department
Columbus, OH — 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.
As a result, developer Morris Bailey indicated through his attorney that he wants out of the deal to lease the Thoroughbred track.
The New Jersey Thoroughbred Horsemen’s Association is also considering going to court to force the state to honor the agreement it struck to transfer a racing license to the association.
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Related Articles:
- 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.
- Bailey pulls out of deal to lease Monmouth Park (Monday, December 12, 2011)
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 Monmounth Park and its off-track wagering licenses.
- 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.