According to an article by the Calgary Herald, the United Horsemen of Alberta have been granted an extension to secure funding for the much-needed racetrack

in Balzac.

The report states that on Wednesday, September 16, the UHA was granted a 30-day extension to come up with $22 million which is owed to Ivanhoe Cambridge.

"We're not bankrupt or in receivership," UHA president Darcy Marler was quoted as saying. "We're still in charge and we're still running the show."

Although the news of the extension comes as a positive, Mat Monaco of the Alberta Horsemen's Benevolent Protection Association for thoroughbreds, is still frustrated with the long list of delays surrounding the track.

"It's not surprising, from my perspective," Monaco was quoted as saying. "The numbers never worked. I didn't think it was financeable. They never had their ducks in a row from Day 1, which made it very difficult to move forward."

Click here to the read the Calgary Herald article in its entirety.

(With files from the Calgary Herald)