Winning bid emerges for Balmoral Park
May 2, 2016,from the USTA Communications Department
Columbus, OH — 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).
The park’s owner, Balmoral Racing Club, will ask the federal bankruptcy judge overseeing its case to approve the sale at a hearing Tuesday (May 3).
To read the full story, click here.
Related Articles:
- 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.
- 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.
- Balmoral to reopen as horse-jumping venue (Friday, May 27, 2016)
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.