Churchill Downs Inc. Resumes Talks To Purchase Fair Grounds

Churchill Downs Inc. (CDI) is again negotiating to buy the Fair Grounds in New Orleans, just two weeks after horse owner Mike Pegram agreed to a prospective deal with the bankrupt track, according to sources of Bob Fortus of the New Orleans TIMES-PICAYUNE. Pegram said, “I still have a signed contract that was submitted in bankruptcy court. It’s in the court’s hands.” But Fortus notes “because the bankruptcy remains active, the door is open for other parties to make offers.” CDI officials met with reps from the track Monday and Tuesday, but Fair Grounds President Bryan Krantz said, “It’s inappropriate for me to comment. The attorneys would have to comment. In the last two weeks the lawyers’ meters have been running faster than the electrical meters in my house” (New Orleans TIMES-PICAYUNE, 9/1).