Roundup

ROUNDUP

November 07, 2008|By FROM SUN STAFF AND NEWS SERVICES

Magna's third quarter similar to that in 2007

horse racing

Magna Entertainment Corp., the Canadian-based owner of Pimlico Race Course, Laurel Park and other racetracks in North America, reported third-quarter revenues and net losses similar to the corresponding quarter a year ago. In the most recent quarter ending Sept. 30, Magna Entertainment had revenues of $81.58 million, a slight increase of about $100,000 over the same quarter a year ago. Net losses for the third quarter decreased slightly to about $48.4 million from about $49.8 million a year ago. The nine-month comparisons show a revenue decline of about $24.3 million to about $478.8 million and net losses increasing about $45.3 million to $116 million. Magna chairman and CEO Frank Stronach said in a statement that the company continues to carry large debt, and efforts to reduce that debt by selling non-core assets, such as real estate, have been "negatively affected by the weak real estate and credit markets." Stronach went on to say the company is reviewing its core operations "with a view to possibly selling or joint venturing one or more of MEC's core racetracks." A Magna official could not be reached for comment on the quarterly report. Officials of the Maryland Jockey Club, a Magna subsidiary that oversees the company's Maryland tracks, declined comment on whether Pimlico and Laurel might be affected. This week, company officials characterized Tuesday's voter approval of the Maryland slots referendum as a positive development that could lead to improvements at Laurel and Pimlico and preserve the Preakness Stakes in the state.

BILL ORDINE

Rays' Pena headlines AL Gold Glove winners

baseball

Tampa Bay Rays first baseman Carlos Pena became the first player in franchise history to win the Gold Glove for fielding excellence. Pena, Texas Rangers shortstop Michael Young, Boston Red Sox second baseman Dustin Pedroia and Minnesota Twins catcher Joe Mauer were first-time winners. New York Yankees pitcher Mike Mussina, a former Oriole coming off his first 20-win season, added his seventh Gold Glove. (For a complete list of winners, see "For the record" below.)

GM meetings: : No more flip decisions. Rather than heads or tails, general managers, with their annual meetings ending in Dana Point, Calif., said they plan to recommend that sites for division and wild-card tiebreakers be decided by wins and losses. Head-to-head record between the tied clubs appears likely to be the first tiebreaker.

Padres:: Ace right-hander Jake Peavy probably will be traded by San Diego before the winter meetings next month in Las Vegas, general manager Kevin Towers said.

Yankees: : Reliever Damaso Marte's $6 million option was declined by the team, which chose to pay the left-hander a $250,000 buyout.

No. 10 Utah comes back, beats No. 11 TCU, 13-10

col. football

Brian Johnson threw a 9-yard touchdown pass to Freddie Brown with 47 seconds left to cap an 80-yard drive that kept alive No. 10 Utah's Bowl Championship Series hopes with a 13-10 victory over No. 11 Texas Christian in Salt Lake City. Johnson threw for 230 yards for the Utes (10-0, 6-0 Mountain West). The Horned Frogs fell to 9-2, 6-1.

Black coaches: : Days after the election of the country's first black president, Barack Obama, a study by The Institute for Diversity and Ethics in Sport at the University of Central Florida shows the number of African-American coaches in major college football is the lowest in 15 years. With the recent dismissals of Tyrone Willingham at Washington and Ron Prince at Kansas State, the number of black head coaches in the 119-school NCAA Football Bowl Subdivision was reduced to four. In 1993, there were only three.

Leaf: : West Texas A&M quarterbacks coach Ryan Leaf resigned, the school announced. Leaf, who also served as the school's men's golf coach, had been on a leave of absence for personal reasons. The Associated Press reported that police in Texas are investigating a minor drug allegation made against the former NFL quarterback. Canyon police chief Bobby Griffin confirmed the allegation was that Leaf obtained a controlled substance by fraudulent means.

Et cetera: : Ohio State coach Jim Tressel said wide receiver and punt returner Ray Small has been suspended for tomorrow's game at Northwestern "to start with." A team spokeswoman said the suspension was because of a repeated violation of team rules. ... Three Florida State players have been suspended for tomorrow's game against Clemson, coach Bobby Bowden said. Wide receivers Bert Reed and Jarmon Fortson and linebacker Nigel Carr are being disciplined for "not meeting their responsibilities."

Semin's two late goals lift Caps over Hurricanes

et cetera

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