SA STILL WAITING FOR BIDS

[louis finochio]

Thru the grapevine comes word, that no one has made a bid on SA Racetrack. That is a big surprise.

[Tairaterces]

Thru the grapevine comes word, that no one has made a bid on SA Racetrack. That is a big surprise.

I just read yesterday that Arnold Zetcher(sp?) is putting a partnership together to buy SA. I hope that it is true.

[Turn-To Fan]

From Joe Harper's (head of Del Mar racetrack) blog, announcing Zetcher as owner of the meet:

Arnold Zetcher gets the” Owner With The Most $ Won” award. This could not happen to a nicer guy. He’s put a lot of that $ right back into this business, and we’re all better off because he’s a major part of our industry. Great job, Arnold. Now, go buy Santa Anita and save us all!

[Tairaterces]

Here is an article about the thoroughbred owners, headed by Arnold Zetcher to buy Santa Anita.

http://www.drf.com/news/article/107324.html

[Suspicious Tendons]

Zetcher sounds like he is in the right mindset with his ideas. Magna tried catering to the customer with adding the appeal of the Sirona's bar, the now defunct Horse Wizard, and monopolizing wagering with their own betting company. Of course, the majority of these things did not do much of anything at all other than turn the racing fan/bettor away.

Zetcher will earn my respect fully if he is able to improve the living conditions of both human and horse on the backstretch. 95% of those barns back there are in desperate need of being replaced. Wood rot, termites, rat and mouse holes, and falling stall walls are not exactly a great attraction to The Great Race Place. I just hope they are able to do something aside from bandaging those stalls like they did last year. Unfortunately, since Santa Anita is a historical landmark, the chances of those barns getting a complete facelift will more likely never happen. I feel bad for the grooms that have to sleep in the same barn. Can't be healthy for anything really. I guess if it is out of sight and out of mind from the general public, no one will care, right?

Too bad McCarron won't come back as GM for Santa Anita. He was a perfect representative for the industry with his love and ideals for improving Santa Anita. McCarron teaming up with people that actually care about racing would be the perfect combination of keeping it alive once more.

[tbrace]

I agree. The backside at SA needs huge work.

Most of the tracks that MEC has and does own have not had any money put into the backside. Portland Meadows is falling down, SA is a travesty, and Golden Gate is just barely passable.

Hopefully new owners will take care of the horses and the horsemen.

[tbrace]

Now I see that Mec may make bids on SA and Golden Gate, as well as others.

Bankrupt one company, then buy it back with another of your own companies, at pennies on the dollar. Unbelieveable that such a deal is legal.

The worst thing that could happen, next to tearing them down, would be to leave Mec and you know who back in control of so much of American racing.

[Worksoplad]

Who said MEC is buying it for cents on the dollar? The way the bankruptcy system works, any bid by MEC would be subject to overbidding by anybody who chooses to bid. The court would authorize the sale to the highest bidder.

[tbrace]

Yes, that is how the system works, but notice that there haven't been any other bids, or at least bids that MEC would accept. Have you been following the story? Mec postponed the August auction, and the court approved. Mec wants to be it's own stalking horse bidder. That is the way the system works.

[louis finochio]

MEC paid 130 million, if they can sell SA for double that, they can pay off many of their debts. Has Arnold Zetcher & his friends made an offer to buy SA?

[Worksoplad]

Yes, that is how the system works, but notice that there haven't been any other bids, or at least bids that MEC would accept. Have you been following the story? Mec postponed the August auction, and the court approved. Mec wants to be it's own stalking horse bidder. That is the way the system works.

Yes, I have been following the story. SA is in my neck of the woods. I didn't think the bidding process had ever even started because MEC withdrew SA from consideration. A number of parties submitted proof that they were qualified to bid, but no bids were actually made, I thought.

[louis finochio]

From the grapevine comes word that many potential parties are waiting on each other to see who makes the 1st bid, then the sparks will fly. As the 2nd bidder will have inside info how much the 1st bidder has offered $.
Arnold Zetcher & friends are waiting in the wings.

[karenkarenn]

http://www.bloodhorse.com/horse-racing/ ... source=rss

[louis finochio]

i was told yesterday, 3 different persons, made 3 bids, MAGNA is waiting for the 4th bidder, as they are seeking a higher bid.

[karenkarenn]

must be quiet a sum of money then. Dang