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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
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

Santa Anita Park owner Frank Stronach met with about a dozen horse trainers to discuss the track's racing surface. Stronach announced that he would not replace the synthetic Pro-Ride track yet, but will stick with it until he gets the ability to run the track with less state regulations. He wants free enterprise, which he may never get. In the meantime, drainage problems and injuries persist on the synthetic track. Stronach said he'd be back in April to discuss the issue more.

https://arcadiahistory.andornot.com/en/permalink/newspaper31919
Newspaper
Pasadena Star News
Date
March 2, 2010
Pages
p. B1

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

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
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

The California Horse Racing Board authorized Oak Tree Racing Association to have its traditional fall meet at another thoroughbred venue in Southern California since the association's use of Santa Anita Park is still uncertain. MI Developments, which is chaired by Frank Stronach, recently voided Oak Tree's contract after acquiring the race track from Stronach's Magna Entertainment Corp (MEC) through federal bankruptcy proceedings. Oak Tree's director Sherwood Chillingworth said, "If we can't make a deal with Santa Anita...we can take our dates and run them in Hollywood or Del Mar."

https://arcadiahistory.andornot.com/en/permalink/newspaper32070
Newspaper
Pasadena Star News
Date
May 21, 2010
Pages
p. A1

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
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

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
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

Magna Entertainment Corp. (MEC) attorney Greg Scoggins appeared before a special meeting of the California Horse Racing Board to explain the impact of its bankruptcy. Track employees and horsemen will likely be protected. Satellite wagering locations that receive 2% commission on bets placed through their facilities will likely have to line up in court with other creditors to collect what is owed to them.

https://arcadiahistory.andornot.com/en/permalink/newspaper31405
Newspaper
Pasadena Star News
Date
March 7, 2009
Pages
p. A1, A8
Newspaper
Pasadena Star News
Date
March 7, 2009
Pages
p. A1, A8
Subjects
Bankruptcy
Magna Entertainment Corp. (MEC)
Santa Anita Park 2001-2010
Scoggins, Greg
Item ID
31598AN
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

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
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

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
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 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
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

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
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

Santa Anita Park shut down by owners The Stronach Group; 21 horses dead. 21 horses dead over a 10-week period. The track surface is being tested.

https://arcadiahistory.andornot.com/en/permalink/newspaper35405
Newspaper
Mountain Views News
Date
March 9, 2019
Pages
p. 1
Newspaper
Mountain Views News
Date
March 9, 2019
Pages
p. 1
Subjects
Horses and horse racing
McGuire, Kevin
Santa Anita Park-2011-2020
Stronach Group
Item ID
35597AN
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
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

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
Newspaper
Pasadena Star News
Date
March 11, 2004
Pages
p. A3
Subjects
Stronach, Belinda
Item ID
28038AN
Collection
Newspaper Index
Less detail

Santa Anita Park's synthetic track surface will be removed and a new $5 million plus dirt surface, closely resembling the ones at Churchill Downs, Gulfstream Park and the Oklahoma training track at Saratoga, will be installed. Ted Malloy is the racing surface consultant. He hopes to have the new track in by December 6.

https://arcadiahistory.andornot.com/en/permalink/newspaper32191
Newspaper
Pasadena Star News
Date
October 1, 2010
Pages
p. C1
Newspaper
Pasadena Star News
Date
October 1, 2010
Pages
p. C1
Subjects
Horses and horse racing
Malloy, Ted
Santa Anita Park-2001-2010
Item ID
32390AN
Collection
Newspaper Index
Less detail

Frank Stronach, chairman of MI Developments, is scheduled to address the California Horse Racing Board to address a number of issues, including a potential new racetrack surface for Santa Anita Park and the recent cancellation of its lease with the charitable Oak Tree Racing Association. Dennis Mills, MI Development's CEO and vice chairman has said Santa Anita Park might replace its synthetic track soon, which could jeopardize hosting Oak Tree's meet there.

https://arcadiahistory.andornot.com/en/permalink/newspaper32091
Newspaper
Pasadena Star News
Date
June 20, 2010
Pages
p. A1, A6

Arcadia officials will meet with Santa Anita Park's majority owner Frank Stronach, to talk about the mall project that fell through with Caruso Affiliated, and to see if Stronach still envisions a high end retail project to develop on the track parking lot.

https://arcadiahistory.andornot.com/en/permalink/newspaper32419
Newspaper
Pasadena Star News
Date
June 16, 2011
Pages
p. A3
Newspaper
Pasadena Star News
Date
June 16, 2011
Pages
p. A3
Subjects
Caruso Affiliated
Malls
Santa Anita Park -- parking lot
Shops at Santa Anita
Stronach, Frank
Item ID
32618AN
Collection
Newspaper Index
Less detail

A drainage problem forced the cancellation of horse racing at Santa Anita Park since three inches of rain fell yesterday. The track has had to cancel racing 12 times since the synthetic track was installed two years ago. In 2006, the California Horse Racing Board banned dirt surfaces from thoroughbred tracks. Santa Anita Park has tried two synthetic tracks but the surfaces have not worked out. Officials announced they will replace the synthetic surface before the Oak Tree Meet in the fall.

https://arcadiahistory.andornot.com/en/permalink/newspaper31866
Newspaper
Pasadena Star News
Date
January 19, 2010
Pages
p. A1
Newspaper
Pasadena Star News
Date
January 19, 2010
Pages
p. A1
Subjects
Santa Anita Park - 2001-2010
Synthetic track
Rain
Weather
Item ID
32063AN
Collection
Newspaper Index
Less detail

20 records – page 1 of 1.