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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

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

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

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'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

Developer Rick Caruso of Caruso Affiliated is no longer pursuing a deal with Santa Anita Park owners MI Developments to develop an outdoor mall in the race track's parking lot. The project was known as The Shops at Santa Anita. Caruso said, "We're not pursuing it, because of the (Magna Entertainment Corp.) bankruptcy...and everything else." Arcadia city councilman Mickey Segal said it's a loss of "a projected $2.5 million to $3 million of revenue (each year) to the city" in sales and property tax.

https://arcadiahistory.andornot.com/en/permalink/newspaper32406
Newspaper
Pasadena Star News
Date
May 21, 2011
Pages
p. A1, A6
More detail
Newspaper
Pasadena Star News
Date
May 21, 2011
Pages
p. A1, A6
Subjects
Caruso Affiliated
Caruso, Rick
Malls
MI Developments
Santa Anita Park race track parking lot
Shops at Santa Anita
Item ID
32604AN
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

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

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

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

Developer Rick Caruso and officials of Santa Anita Park met to discuss reviving The Shops at Santa Anita, a proposed upscale retail mall project. MI Developments (MID) had cancelled a 2005 contract with Caruso Affiliated to build the mall after bankruptcy restructuring at Santa Anita Park. Both parties hope to move forward with the mall.

https://arcadiahistory.andornot.com/en/permalink/newspaper32077
Newspaper
Pasadena Star News
Date
May 29, 2010
Pages
p. A1
More detail
Newspaper
Pasadena Star News
Date
May 29, 2010
Pages
p. A1
Subjects
Bankruptcy
Caruso Affiliated
Caruso, Rick
MI Developments (MID)
Santa Anita Park--2001-2010--development
Shopping malls
Shops at Santa Anita
Item ID
32274AN
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
More detail
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

Westfield Group has nominated Santa Anita Park to the National Register of Historic Places, claiming development plans by Caruso Affiliated constitute a threat to the racetrack. Magna Entertainment, owner of the race track, would have to agree to the track being placed on the register. However, placement on the list would not restrict development on the site.

https://arcadiahistory.andornot.com/en/permalink/newspaper29789
Newspaper
Pasadena Star News
Date
November 24, 2005
Pages
p. A1, A6
More detail
Newspaper
Pasadena Star News
Date
November 24, 2005
Pages
p. A1, A6
Subjects
Caruso Affiliated
Magna Entertainment
Mall war
National landmarks
National Register of Historic Places
Preservation
Santa Anita Park race track
Westfield Group
Item ID
29974AN
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
More detail
Newspaper
Pasadena Star News
Date
May 21, 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
32267AN
Collection
Newspaper Index
Less detail

Developer Rick Caruso said he is in the process of finalizing a new deal with Santa Anita Park's owners to build an outdoor mall at the race track's south parking lot. MI Developments (MID) (owner of track), voided a 2005 joint-venture development agreement with Caruso Affiliated in April 2010 for the proposed 825,000 square feet The Shops at Santa Anita, as part of MID's bankruptcy reorganization. MID and Caruso have been renegotiating since, and the development will be similar with some minor variations.

https://arcadiahistory.andornot.com/en/permalink/newspaper32278
Newspaper
Pasadena Star News
Date
January 4, 2011
Pages
p. A1, A4
More detail
Newspaper
Pasadena Star News
Date
January 4, 2011
Pages
p. A1, A4
Subjects
Caruso Affiliated
Caruso, Rick
MI Developments (MID)
Santa Anita Park--2011-2020
Shopping malls
Item ID
32477AN
Collection
Newspaper Index
Less detail

In a strongly worded letter to Canadian mogul Frank Stronach, Arcadia city officials urged Santa Anita Park's owner to work with developer Rick Caruso and finish the proposed upscale Shops at Santa Anita mall project that has been in the works for the last five years. Stronach's MI Developments (MID) voided its contract with Caruso following bankruptcy restructuring at Santa Anita Park. In a further flexing of city muscle, the letter stated that it "looks forward to working with the race track in future projects that require City approval."

https://arcadiahistory.andornot.com/en/permalink/newspaper32069
Newspaper
Pasadena Star News
Date
May 19, 2010
Pages
p. A4
More detail
Newspaper
Pasadena Star News
Date
May 19, 2010
Pages
p. A4
Subjects
Bankruptcy
Caruso Affiliated
Caruso, Rick
MI Developments (MID)
Santa Anita Park--2001-2010--development
Shopping malls
Shops at Santa Anita
Stronach, Frank
Item ID
32266AN
Collection
Newspaper Index
Less detail

Magna Entertainment Corp, owner of Santa Anita Park, is the plaintiff in a lawsuit filed against the State of California. The lawsuit alleges that the compacts between Governor Schwarzenegger and five Indian tribes is illegal.

https://arcadiahistory.andornot.com/en/permalink/newspaper29137
Newspaper
Pasadena Star News
Date
September 18, 2004
Pages
p. A3
More detail
Newspaper
Pasadena Star News
Date
September 18, 2004
Pages
p. A3
Subjects
Magna Entertainment Corp.
Santa Anita Park
Lawsuits
Gaming
Slots
Native American tribes
Item ID
29322AN
Collection
Newspaper Index
Less detail

Caruso and Westfield are still battling over the proposed Caruso lifestyle center. A decade ago the race track's south parking lot had been rezoned for commercial development. Rick Caruso feels his development will help Westfield while Westfield believes a new mall will cannibalize tenants and harm both companies and the city's sales tax revenues.

https://arcadiahistory.andornot.com/en/permalink/newspaper29793
Newspaper
Pasadena Star News
Date
November 27, 2005
Pages
p. A1, A6
More detail
Newspaper
Pasadena Star News
Date
November 27, 2005
Pages
p. A1, A6
Subjects
Caruso Affiliated
Developers
Mall war
Santa Anita Park race track - zoning
Shops at Santa Anita
Westfield Shoppingtown Santa Anita
Item ID
29978AN
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

20 records – page 1 of 1.