Stronach adds Gulfstream to his stable for $87 million

Florida track's purchase follows Santa Anita deal

July 07, 1999|By Tom Keyser | Tom Keyser,SUN STAFF

Frank Stronach's Magna International Inc. announced yesterday the purchase of Gulfstream Park, adding the premier southern Florida horse track to its budding racing empire.

Last fall, Stronach's Ontario-based company, one of the world's largest manufacturers of auto parts, bought Santa Anita Park in southern California for $126 million. The price tag for Gulfstream Park was $87 million.

Stronach, a prominent horse owner and breeder, has said he plans to acquire more tracks.

He was quoted in the Daily Racing Form as saying he will now pursue Monmouth Park, a summer track on the Jersey shore that is owned by the New Jersey Sports and Exposition Authority.

Rumors swirling around Maryland have Stronach or his representatives meeting with Joe De Francis about buying Pimlico and Laurel Park. Stronach could not be reached for comment, but a spokesman at Magna International in Canada said yesterday that Stronach has expressed no interest in the Maryland tracks.

And De Francis said yesterday that he has not met or spoken with Stronach or his representatives about the tracks or received any feelers from them.

Besides, De Francis said, "The tracks are not for sale."

Laurel Park schedule: Summer meet runs until Aug. 27. Live racing Wednesday through Sunday; post time 1: 05 p.m. Simulcasts daily except Monday in July, except Tuesday in August. Exceptions: simulcasts only today; simulcasts Aug. 3. 301-725-0400.

Pub Date: 7/07/99

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