City Councilman Bob Harbicht, now running for the 59th Assembly District seat, accepted a $25,000 donation from the entity that manages Santa Anita Park.
Multibillion dollar businessman and horse owner, Frank Stronach, has signed a letter of intent for his auto systems company, Magna International Inc., to buy Santa Anita Park
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.
Canadian industrialist Frank Stronach bought Santa Anita Park for $126 million in cash Friday, and said he will share plans with the city later this month to spend roughly half that amount on improvements.
Santa Anita Park will auction off 10 paintings by Sir Alfred J. Munnings worth an estimated $10 million. They will be sold by Sotheby's New York City auction house on Dec. 1, 1998.
Meditrust will be selling Santa Anita Park race track at a lower price than the $400 million purchase price about a year ago. Due to laws changing in July, tax advantages are no longer available.
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.
Concerns about a proposed entertainment complex next to Santa Anita Park race track have been expressed by representatives of three stores in the Santa Anita Fashion Park.
Oak Tree Racing Association's 1996 season started with a bang on October 2. Patrons discovered a new look with the $3.5 million improvement programs completed over the summer at Santa Anita Park race track.