It has been reported that the pending sale of Scarborough Downs has gone firm, and that the Terry family will continue to operate live racing at the facility and will retain the track’s 60 employees for at least the foreseeable future.

According to an article by the Bangor Daily News, the $6.7-million deal for the Maine facility closed some time after the calendar flipped to 2018. The deal includes the property and the buildings that currently exist on it.

The report also states that the Terry’s racing business has been sold to the buyer, Crossroads Holdings, but that the purchase price has not been disclosed publically.

Trot Insider ran an item early last month stating that a deal for the property and buildings was in place and that Cross Roads Holdings – which includes longtime area residents William, Marc and Rocco Risbara III, and Peter and Richard Michaud – was the buyer in question.

“This is a defining moment in Scarborough’s history,” Rocco Risbara has been quoted as saying via statement. “We look forward to creating something that brings people together, creates economic growth and builds a sense of hometown pride.”

When news of the pending sale became public in early December, Risbara was cited as saying that a lease agreement with the Terrys could preserve 60 jobs. He also said at the time that there were no plans for the racetrack, and that the lease would be in place for the “foreseeable future.”

Scarborough Downs, which has hosted live racing as far back as 1950, had been the subject of many failed deals over the years – the most recent of which fell through earlier in 2017.

(With files from the Bangor Daily News)