International businessman and horse owner Frank Stronach confirmed Tuesday that he and Meditrust, the parent company of Santa Anita Park, have signed a letter of intent under which he will buy the race track.
MI Developments, the parent company of Santa Anita Park, announced the formation of the Preakness 5.5 bonus program, which could mean an additional $5.5 million for the winning connections of the middle leg of horse racing's Triple Crown in 2011.