Maryland State Officials Reveal Strategies To Retain Preakness
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Maryland Officials Say Funding For Preakness
Would Be Authorized By Emergency Legislation |
Maryland state officials and their attorneys have "revealed more of their strategy to retain the Preakness Stakes in Baltimore, saying Thursday that the state would 'likely' try to purchase the historic race either through eminent domain or a court-supervised auction now that it is up for sale in federal bankruptcy proceedings," according to Gadi Dechter of the Baltimore SUN. Funding for those options "would be authorized by emergency legislation now speeding through the General Assembly." Maryland Gov. Martin O'Malley this week introduced a bill that "would authorize the state to seize other Maryland assets owned by financially distressed" Magna Entertainment Corp. (MEC), including "major horse tracks and large parcels of land." The Senate's budget committee "approved the eminent domain legislation Thursday, and a floor vote is expected Friday." The House of Delegates "plans a work session on the legislation Friday." The presiding officers of both chambers "support the bill, and it is expected to pass before the General Assembly adjourns for the year Monday." A majority of lawmakers recognize the measure's "greatest potency could be as a negotiating tool." However, O'Malley's Chief Legislative Aide Joseph Bryce said that while a '92 law "gives Maryland the right to match any agreed-upon price for the Preakness if it is offered for sale, the statute could work against the state's interest." Maryland state Sen. Rona Kramer said that to "proceed with a purchase without detailed studies would be 'extremely irresponsible.'" Kramer: "There is no analysis at this point, and I think there has to be" (Baltimore SUN, 4/10).
COMPLICATIONS COULD EXIST: BLOOMBERG NEWS' Jerry Hart wrote the state's "seizure of the track through eminent domain may be impossible, because bankruptcy laws limit such actions once a company is under court protection." That leaves buying the tracks "outright, putting the state in competition with other offers." Maryland Economic Development Corp. Exec Dir Bob Brennan said that the price "would be worth it to protect the state's heritage." Brennan: "The last thing we want is another sport franchise to be taken out of the state." Maryland Thoroughbred Horsemen's Association General Counsel Alan Foreman said, "Those who recognize the psychological importance of the Preakness are very troubled. The Preakness is one of the greatest sporting events, and it defines the city and state's culture and traditions" (BLOOMBERG NEWS, 4/9).
SAFETY FIRST: In Louisville, Gregory Hall reports the "first racetrack accredited under a national racing group's safety certification program is Churchill Downs," where Eight Belles' breakdown during last year's Kentucky Derby "spurred questions about whether the thoroughbred industry was lackadaisical about the well-being of its horses and jockeys." The NTRA Safety & Integrity Alliance Thursday announced that the track "received an unconditional two-year accreditation" (Louisville COURIER-JOURNAL, 4/10).
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