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Rosecroft sale denied

May 12, 2004
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The Maryland Racing Commission voted 6-1 on Tuesday (May 11) to reject the bid of Northwind Racing to purchase Rosecroft Raceway. Fronted by veterinarian Mark Ricigliano, in partnership with Greenwood Racing, Northwind had made a $10 million offer to purchase the Maryland track.



Northwind had predicated its purchase agreement on the commission approving Rosecroft to simulcast Thoroughbred races without making any compensation to the state's Thoroughbred interests. A revenue-sharing agreement of simulcast monies between Rosecroft and the Maryland Jockey Club Thoroughbred tracks Laurel and Pimlico recently expired and was not renewed, forcing Rosecroft to delete Thoroughbred signals from its schedule and Laurel and Pimlico to shut their doors daily at 6:15 p.m.



Racing commissioner John B. Franzone told the Baltimore Sun, "I don't think (Northwind's purchase of Rosecroft) is in the best interest of racing in Maryland."



Rosecroft CEO Tom Chuckas Jr. said, "We are going to take a step back, take a look at everything that transpired and basically sit down and discuss what our options are."
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