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Santa Anita Park's parent company, Magna Entertainment Corp., faces the threat of bankruptcy amid mounting losses and a $600 million debt burden. The current racing season and status are unaffected. Frank Stronach of Magna Entertainment Corp. said he was looking for partners for the track.

https://arcadiahistory.andornot.com/en/permalink/newspaper31390
Newspaper
Pasadena Star News
Date
February 23, 2009
Pages
p. A1, A4
More detail
Newspaper
Pasadena Star News
Date
February 23, 2009
Pages
p. A1, A4
Subjects
Magna Entertainment Corp.
Santa Anita Park - 2001-2010
Stronach, Frank
Item ID
31583AN
Collection
Newspaper Index
Less detail

Magna Entertainment Corp. (MEC), owner of Santa Anita Park, has filed for Chapter 11 bankruptcy protection. Santa Anita Park may be sold to pay off Magna's debts. Frank Stronach paid $126 million for Santa Anita Park in 1996. The track has three potential buyers, including a group from Asia.

https://arcadiahistory.andornot.com/en/permalink/newspaper31399
Newspaper
Pasadena Star News
Date
March 6, 2009
Pages
p. A1, A12
More detail
Newspaper
Pasadena Star News
Date
March 6, 2009
Pages
p. A1, A12
Subjects
Bankruptcy
Economy
Magna Entertainment Corp. (MEC)
Santa Anita Park - 2001-2010
Item ID
31592AN
Collection
Newspaper Index
Less detail

Last year it seemed Santa Anita Park might be sold in a bankruptcy auction, but it appears owner Frank Stronach will keep an interest in the track. Under a deal arranged by Stronach's bankrupt Magna Entertainment Corp. (MEC) and its creditors in a Delaware bankruptcy court, ownership of the track would be transferred to MI Development, a real estate holding company controlled by Stronach. If a judge accepts the plan, Stronach would also retain ownership of Golden Gate Fields in the Bay Area, and Gulfstream Park in Florida. Also, it sets up developer Rick Caruso to proceed with building the Shops at Santa Anita mall that is proposed for the track's parking lot.

https://arcadiahistory.andornot.com/en/permalink/newspaper31899
Newspaper
Pasadena Star News
Date
February 13, 2010
Pages
p. A1
More detail
Newspaper
Pasadena Star News
Date
February 13, 2010
Pages
p. A1
Subjects
Bankruptcy
Caruso, Rick
Magna Entertainment Corp. (MEC)
Santa Anita Park - 2001-2010
Shops at Santa Anita
Stronach, Frank
Item ID
32096AN
Collection
Newspaper Index
Less detail

Employees at Santa Anita Park fear bankruptcy of its parent company Magna Entertainment Corp (MEC). Chairman Frank Stronach said the horsemen would not have to worry about any of their monies. Paymaster accounts total $11 million at Santa Anita Park. The accounts contain money earmarked for winning owners, who must pay a percentage of those earnings to jockeys and trainers. Magna Entertainment Corp. has lost $500 million in the past 5 years.

https://arcadiahistory.andornot.com/en/permalink/newspaper31396
Newspaper
Pasadena Star News
Date
March 4, 2009
Pages
p. A1, A10
More detail
Newspaper
Pasadena Star News
Date
March 4, 2009
Pages
p. A1, A10
Subjects
Bankruptcy
Magna Entertainment Corp (MEC)
Santa Anita Park - 2001-2010
Stronach, Frank
Item ID
31589AN
Collection
Newspaper Index
Less detail

The Oak Tree Racing Association lost its lease to operate its fall horse racing meet at Santa Anita Park. Oak Tree has operated a fall meet at the track since 1969. Due to bankruptcy restructuring, Frank Stronach's company MI Developments took control of Santa Anita Park from Stronach's Magna Entertainment Corp (MEC). MI Developments wants to negotiate a new lease agreement with Oak Tree for fall racing.

https://arcadiahistory.andornot.com/en/permalink/newspaper32062
Newspaper
Pasadena Star News
Date
May 15, 2010
Pages
p. A1
More detail
Newspaper
Pasadena Star News
Date
May 15, 2010
Pages
p. A1
Subjects
Bankruptcy
Chillingworth, Sherwood
Horse racing
Magna Entertainment Corp. (MEC)
MI Developments (MID)
Oak Tree Racing Association
Santa Anita Park--2001-2010
Stronach, Frank
Item ID
32259AN
Collection
Newspaper Index
Less detail

Since he purchased Santa Anita Park in 1998, Frank Stronach has added five tracks to his stable and grouped them under a spin off company called Magna Entertainment Corp.

https://arcadiahistory.andornot.com/en/permalink/newspaper18585
Newspaper
Pasadena Star News
Date
March 13, 2000
Pages
p. A1
More detail
Newspaper
Pasadena Star News
Date
March 13, 2000
Pages
p. A1
Subjects
Stronach, Frank
Santa Anita Park
Magna Entertainment Corp.
Item ID
18829AN
Collection
Newspaper Index
Less detail

Santa Anita Park's current Pro-Ride synthetic track surface will be replaced with a dirt track after the Oak Tree meet ends October 31 and before Santa Anita Park's winter-spring season starts December 26, 2010. Frank Stronach said it will cost about $6 million to install.

https://arcadiahistory.andornot.com/en/permalink/newspaper32142
Newspaper
Pasadena Star News
Date
August 19, 2010
Pages
p. A1, A4
More detail
Newspaper
Pasadena Star News
Date
August 19, 2010
Pages
p. A1, A4
Subjects
Horses and horse racing
Santa Anita Park-2001-2010
Stronach, Frank
Synthetic track
Item ID
32339AN
Collection
Newspaper Index
Less detail

Santa Anita Park Race Track owner Frank Stronach has met with city officials about Arcadia's concerns with the track expansion plan and future sessions will be held. The concerns centered around plans to build new barns on the north side of the property, the internal connections between the track and Westfield Shopping mall traffic and people, and architectural compatibility with the track.

https://arcadiahistory.andornot.com/en/permalink/newspaper33285
Newspaper
Arcadia Weekly
Date
January 11, 2001
Pages
p. 9
More detail
Newspaper
Arcadia Weekly
Date
January 11, 2001
Pages
p. 9
Subjects
Santa Anita Park--2001-2010--expansion
Stronach, Frank
Item ID
33482AN
Collection
Newspaper Index
Less detail

Developer Rick Caruso, whose stalled $500 million, 820,000 square feet retail project "The Shops at Santa Anita," is planned for Santa Anita Park's south parking lot, said he has "no control" over possible bankruptcy at the race track's parent company, Magna Entertainment Corp. (MEC). Caruso said he was still planning to go ahead with his mall and would "wait and see what happens and deal with it." Any reorganization at Magna Entertainment Corp. may delay the mall plans.

https://arcadiahistory.andornot.com/en/permalink/newspaper31397
Newspaper
Pasadena Star News
Date
March 4, 2009
Pages
p. A1, A10
More detail
Newspaper
Pasadena Star News
Date
March 4, 2009
Pages
p. A1, A10
Subjects
Bankruptcy
Caruso, Rick
Developers
Land use
Magna Entertainment Corp. (MEC)
Malls
Santa Anita Park - 2001-2010
The Shops at Santa Anita
Item ID
31590AN
Collection
Newspaper Index
Less detail

Santa Anita Park has been purchased by Frank Stronach for $126 million through MI Development, the real estate, entertainment unit of Magna International Inc., Canada's largest auto-parts manufacturer, of which Stronach is chairman.

https://arcadiahistory.andornot.com/en/permalink/newspaper26483
Newspaper
Arcadia Weekly
Date
December 17, 1998
Pages
p. 1
More detail
Newspaper
Arcadia Weekly
Date
December 17, 1998
Pages
p. 1
Subjects
Santa Anita Park -1991-2000
Item ID
26684AN
Collection
Newspaper Index
Less detail

Santa Anita Park's ownership changed hands on April 30 after Frank Stronach's Magna Entertainment Corp. (MEC) transferred many of its assets to Stronach's MI Developments (MID) (one of MEC's creditors), as part of a bankruptcy restructuring plan. Last week MI Developments, a real estate operating company, canceled its 2005 agreement with Caruso Affiliated to develop to the proposed mall known as The Shops at Santa Anita, but this week MI Developments hopes to work out a deal with developer Rick Caruso to build an upscale retail project in the track's parking lot.

https://arcadiahistory.andornot.com/en/permalink/newspaper32030
Newspaper
Pasadena Star News
Date
May 4, 2010
Pages
p. A1
More detail
Newspaper
Pasadena Star News
Date
May 4, 2010
Pages
p. A1
Subjects
Bankruptcy
Caruso Affiliated
Caruso, Rick
Magna Entertainment Corp. (MEC)
MI Developments (MID)
Santa Anita Park--2001-2010--development
Shopping malls
Shops at Santa Anita
Stronach, Frank
Item ID
32227AN
Collection
Newspaper Index
Less detail

Magna Entertainment Corporation, owners of Santa Anita Park race track, is bidding to purchase the September race dates at the Los Angeles County Fair for September 13-29. The Breeders Cup will be returning to Santa Anita Park next October after a gap of ten years.

https://arcadiahistory.andornot.com/en/permalink/newspaper30231
Newspaper
Arcadia Weekly
Date
April 25, 2002
Pages
p. 1
More detail
Newspaper
Arcadia Weekly
Date
April 25, 2002
Pages
p. 1
Subjects
Breeders Cup
Horse racing
Los Angeles County Fair
Santa Anita Park - 2001-2010
Item ID
30418AN
Collection
Newspaper Index
Less detail

Frank Stronach, chairman of MI Developments, the owner of Santa Anita Park, says he is optimistic his company can work out a new deal with developer Rick Caruso to build an outdoor mall at Santa Anita Park, even though he voided a 2005 joint-venture agreement with Caruso in April to build the Shops at Santa Anita mall in the race track's parking lot.

https://arcadiahistory.andornot.com/en/permalink/newspaper32102
Newspaper
Pasadena Star News
Date
June 24, 2010
Pages
p. A1, A4
More detail
Newspaper
Pasadena Star News
Date
June 24, 2010
Pages
p. A1, A4
Subjects
Caruso, Rick
MI Developments
Santa Anita Park--2001-2010
Shops at Santa Anita
Stronach, Frank
Item ID
32299AN
Collection
Newspaper Index
Less detail

Since Magna Entertainment Corp., the owner of Santa Anita Park, has filed for Chapter 11 bankruptcy. The race track will be auctioned off in September. That land is zoned for horse racing. Jason Kruckeberg, Arcadia's Development Services Director, said it will remain as a race track.

https://arcadiahistory.andornot.com/en/permalink/newspaper31453
Newspaper
Pasadena Star News
Date
May 5, 2009
Pages
p. A1, A4
More detail
Newspaper
Pasadena Star News
Date
May 5, 2009
Pages
p. A1, A4
Subjects
Auctions
Bankruptcy
Magna Entertainment Corp.
Santa Anita Park - 2001-2010
Stronach, Frank
Item ID
31646AN
Collection
Newspaper Index
Less detail

Although Magna Entertainment Corp. (MEC) , the parent company of Santa Anita Park race track, filed for bankruptcy protection yesterday, the fate of the track's paymaster accounts remains uncertain. The bankruptcy judge could declare the $15 million, which was placed in the joint trust account, an asset of MEC and order it frozen.

https://arcadiahistory.andornot.com/en/permalink/newspaper31404
Newspaper
Pasadena Star News
Date
March 6, 2009
Pages
p. A12
More detail
Newspaper
Pasadena Star News
Date
March 6, 2009
Pages
p. A12
Subjects
Bankruptcy
Magna Entertainment Corp. (MEC)
Santa Anita Park 2001-2010
Item ID
31597AN
Collection
Newspaper Index
Less detail

Santa Anita Park race track's CEO and President Ron Charles said Santa Anita Park race track will not be sold to help Magnum Entertainment Corporation eliminate a $600-million-plus debt. However, Santa Anita Park race track is entertaining discussions with Magnum Entertainment Corporation concerning potential partnerships or joint ventures on a minority interest basis. Includes a historical timeline.

https://arcadiahistory.andornot.com/en/permalink/newspaper30716
Newspaper
Pasadena Star News
Date
September 15, 2007
Pages
p. News 1
More detail
Newspaper
Pasadena Star News
Date
September 15, 2007
Pages
p. News 1
Subjects
Magnum Entertainment Corporation
Santa Anita Park - 2001-2010 - history
Item ID
30904AN
Collection
Newspaper Index
Less detail

Santa Anita Park owner Frank Stronach is coming to town this weekend to meet with local horsemen to talk about the state of the sport. He'll also meet with an engineer to discuss the pros and cons of a proposed new racing surface consisting of dirt, sand, and a small amount of fiber. He says it is a very safe surface. The question remains, who will foot the bill for it, since Stronach's Magna Entertainment Corporation (MEC) filed for Chapter 11 bankruptcy last year.

https://arcadiahistory.andornot.com/en/permalink/newspaper31914
Newspaper
Pasadena Star News
Date
February 26, 2010
Pages
p. C1
More detail
Newspaper
Pasadena Star News
Date
February 26, 2010
Pages
p. C1
Subjects
Horses and horse racing
Magna Entertainment Corporation (MEC)
Race track surfaces
Santa Anita Park - 2001-2010
Stronach, Frank
Synthetic tracks
Item ID
32111AN
Collection
Newspaper Index
Less detail

Frank Stronach, founder and chairman of the board of Magna International Inc., is buying Santa Anita Park from Meditrust. The $126 million purchase is expected to close today.

https://arcadiahistory.andornot.com/en/permalink/newspaper16189
Newspaper
Pasadena Star News
Date
December 11, 1998
Pages
p. A1
More detail
Newspaper
Pasadena Star News
Date
December 11, 1998
Pages
p. A1
Subjects
Santa Anita Park
Item ID
16935AN
Collection
Newspaper Index
Less detail

Santa Anita. Head of track dispels rumors. Q & A with Tim Ritvo, COO of Santa Anita’s parent company The Stronach Group.

https://arcadiahistory.andornot.com/en/permalink/newspaper35385
Newspaper
Pasadena Star News
Date
March 8, 2019
Pages
p. B1, B8
More detail
Newspaper
Pasadena Star News
Date
March 8, 2019
Pages
p. B1, B8
Subjects
Deaths
Horses and horse racing
Liebau, Jack
Moore, Dennis
Ritvo, Tim
Santa Anita Park-2011-2020
Stronach Group
Item ID
35575AN
Collection
Newspaper Index
Less detail

A profile of Belinda Stronach, daughter of Frank Stronach whose company Magna Entertainment Corp. owns Santa Anita Park. Belinda has resigned as President and CEO of Toronto-based Magna International, Inc. to run for a seat in the House of Commons.

https://arcadiahistory.andornot.com/en/permalink/newspaper27841
Newspaper
Pasadena Star News
Date
March 11, 2004
Pages
p. A3
More detail
Newspaper
Pasadena Star News
Date
March 11, 2004
Pages
p. A3
Subjects
Stronach, Belinda
Item ID
28038AN
Collection
Newspaper Index
Less detail

20 records – page 1 of 1.