Stronach Family Feud Continues Despite Recent Preakness Deal
Stronach Group Founder FRANK STRONACH said that he "believes the deal to keep the Preakness Stakes in Baltimore should be amended" -- and he "pledged to continue trying to force out" his daughter, Group Chair & President BELINDA STRONACH, according to a front-page piece by Luke Broadwater of the BALTIMORE SUN. Frank Stronach in an email wrote, "Belinda does not speak for the Stronach family. At this time there is litigation because Belinda's father, her brother, her mother strongly disagree with Belinda's actions and behaviour." The city of Baltimore and The Stronach Group, the owners of Pimlico Race Course, said Friday that they had "come up with a way to keep the Preakness at the 149-year-old Northwest Baltimore track." However, "several key elements remain unresolved before the vision can be made a reality." The parties have "not yet drafted legislation needed to fund the bonds that would be sold to cover the cost, but they plan to do so before the next General Assembly session starts in January." Stronach said that he "doesn't necessarily have an issue with the deal" his daughter cut with the city of Baltimore. But he "doesn't like that he wasn't consulted, believes his daughter is an illegitimate company president and wants the agreement to do much more for the Park Heights community." ALAN RIFKIN, a lawyer for The Stronach Group, said that Frank Stronach "can't derail the deal because he has no controlling interest in the company" (BALTIMORE SUN, 10/10).