For Cordish, it is over. For the De Francis family, it is over. For the Blow Horn Equity Group, for Penn National, it is over.
And for many Maryland horsemen, the hope of new ownership of our Thoroughbred tracks is over – at least for the foreseeable future.
Today, Magna Entertainment Corporation – or rather its parent company, MI Developments, will remain the owner of the Maryland Jockey Club, Laurel, Pimlico and the Preakness.
Today, shortly after Magna worked out a deal to settle a lawsuit by its unsecured creditors (which include the De Francis family), MID announced it would buy the Maryland assets out of bankruptcy – surprising everyone, including the De Francises, who were still intending on bidding on the tracks.
So, the more things change, the more they stay the same.
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