55,130 racing fans saw the 10th Breeder's Cup, which included the upset 133-1 final race win by Arcangues. Over $36 million was wagered, including $15 million in on-track betting.
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.
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.
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.
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.
The Arcadia City Planning Commission voted 6-0 to reject the zoning change for the Santa Anita Park property from "horse racing uses" to "commercial/entertainment," saying it could not approve any changes until it sees a specific proposal.
Sounding bitter complaints about a construction project at Santa Anita Park that is halfway finished, nearly a dozen residents and preservationists appeared at Tueday's City Council meeting to criticize the city's approval of the project.