The sale of Arlington Race Track has been a topic of much debate in the racing community. It was reported in 2017 that the track would be sold to a developer, but the sale was ultimately never completed. The track has been closed since 2013, and while there has been much speculation and rumors surrounding the potential sale, the ultimate fate of the track is still uncertain. In this article, we will explore the history of the track, the potential buyers, and the future of the track.
History of Arlington Race Track
Arlington Park, originally known as Arlington International Racecourse, is a horse racing track located in Arlington Heights, Illinois. The track opened in 1927 and has since been host to some of the most prestigious races in the sport, including the Arlington Million and the Beverly D. Stakes. The track is a major tourist attraction and has hosted some of the most popular horse racing events in the world.
Arlington Race Track Sale
In 2017, the track was put up for sale with a reported asking price of $250 million. The potential buyer was a developer, who had plans to build a mixed-use development on the site, including residential and commercial buildings. The sale was approved by the Illinois Racing Board, but the sale would ultimately be blocked by a lawsuit from the Village of Arlington Heights.
Potential Buyers
The potential buyer of the track was Churchill Downs Incorporated, a publicly traded company which owns several racetracks and casinos in the United States. Churchill Downs had offered to purchase the track for $250 million, and had plans to convert the track into a casino and entertainment complex. However, they were ultimately blocked by the lawsuit from the Village of Arlington Heights.
Future of Arlington Race Track
The future of the track remains uncertain. The Village of Arlington Heights has proposed a redevelopment plan for the site, which would include a sports complex and other amenities. However, the plan has not been approved by the Illinois Racing Board, and there is still no clear timeline for the redevelopment of the track.
Impact of Sale on Local Community
The sale of the track would have a major impact on the local community. The track has been a major economic driver for the area and has attracted tourists from around the world. The loss of the track could have a significant impact on local businesses, as well as the local community.
Impact on Horse Racing Industry
The sale of the track could also have a major impact on the horse racing industry. Arlington Park is home to some of the most prestigious races in the sport, and its closure could have a ripple effect throughout the industry. The loss of the track would also mean the loss of hundreds of jobs, as the track employs hundreds of people in various positions.
Potential Alternatives
There have been several potential alternatives proposed for the track. One proposal is to convert the track into a multi-purpose facility, which would include a racetrack, casino, and entertainment complex. Another proposal is to convert the track into a sports complex, which could be used for a variety of sporting events, such as soccer and football.
Impact on Horse Owners
The sale of the track would also have a major impact on horse owners. The track offers numerous opportunities for horse owners to race their horses, and its loss could mean the loss of hundreds of jobs. The closure of the track could also have a major impact on the breeding industry, as the track is home to some of the best breeding stock in the country.
Conclusion
The sale of Arlington Race Track has been a topic of much debate in the racing community. The track has been closed since 2013, and while there has been much speculation and rumors surrounding the potential sale, the ultimate fate of the track is still uncertain. The track has been a major economic driver for the area and has attracted tourists from around the world. The sale of the track would have a major impact on the local community, as well as the horse racing industry. There have been several potential alternatives proposed for the track, but the ultimate fate of the track is still unknown.
FAQs
What happened to Arlington Race Track?
Arlington Race Track closed in 2013 and has since been the subject of much speculation and rumors surrounding the potential sale of the track. The potential sale was blocked by a lawsuit from the Village of Arlington Heights, and the ultimate fate of the track is still uncertain.
Who owns Arlington Race Track?
Arlington Race Track is owned by the Village of Arlington Heights. The track was put up for sale in 2017, but the sale was ultimately blocked by a lawsuit from the Village of Arlington Heights.
How much is Arlington Race Track worth?
The track was reported to have an asking price of $250 million in 2017. However, the sale was ultimately blocked by a lawsuit from the Village of Arlington Heights, and the ultimate fate of the track is still uncertain.
What is the future of Arlington Race Track?
The future of the track is still uncertain. The Village of Arlington Heights has proposed a redevelopment plan for the site, which would include a sports complex and other amenities. However, the plan has not been approved by the Illinois Racing Board, and there is still no clear timeline for the redevelopment of the track.
What impact would the sale of Arlington Race Track have?
The sale of the track would have a major impact on the local community, as well as the horse racing industry. The track has been a major economic driver for the area and has attracted tourists from around the world. The loss of the track could have a significant impact on local businesses, as well as the local community. The sale of the track could also have a major impact on the horse racing industry, as the loss of the track would mean the loss of hundreds of jobs, as well as the loss of some of the most prestigious races in the sport.