Potential buyers express interest in Rosecroft Raceway

Harness track closed in June

August 11, 2010|By Hanah Cho, The Baltimore Sun

Maryland Secretary of State John P. McDonough, who is spearheading efforts to keep Rosecroft Raceway open, said Wednesday that there are two or three potential parties who have expressed interest in buying the harness track that closed in June.

McDonough said the unidentified potential purchasers would be willing to step up if real estate developer Mark Vogel, a former owner of the track, is not successful in re-acquiring it.

A Delaware bankruptcy judge earlier this year rejected Vogel's deal to purchase the track, which filed for bankruptcy in June 2009. Vogel, who had loaned $350,000 to keep the track open for a while, said he plans to submit another plan in a few weeks.

Kelley Rogers, president of Rosecroft owner Cloverleaf Enterprises Inc., said the bankruptcy court has set a Sept. 1 deadline for Vogel to submit his new plan.

Even if the track reopens, Rosecroft officials must still resolve its feud with the state's thoroughbred industry over an agreement that requires the track to pay $5.9 million a year to simulcast thoroughbred horse races. Rosecroft had stopped paying early last year, saying the deal is no longer feasible for the money-losing operation.

Last week, a federal judge ruled that Cloverleaf can move forward on its antitrust lawsuit against Maryland's thoroughbred industry over the simulcast agreement.

hanah.cho@baltsun.com

http://twitter.com/hanahcho

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