The New Jersey Sports & Exposition Authority passed a resolution on Wednesday, December 22, 2010 which authorizes its president and CEO, Dennis Robinson, to enter into an agreement with the Standardbred Breeders & Owners Association of New Jersey and Jeff Gural, regarding the potential lease agreement for the Meadowlands.

It reads:

"Now, therefore, be it resolved that the President and Chief Executive Officer be and is hereby authorized to enter into an agreement for the exclusive right to negotiate a lease agreement for the Meadowlands Racetrack with the SBOA and Jeffrey Gural, pursuant to the terms outlined in Executive Session, and in consultation with counsel."

In a companion statement, the NJSEA said that "today's resolution implements the Memorandum of Understanding that was announced by Gov. Christie last week. The NJSEA, SBOA and its investors together will strive to bring about the best possible result for the standardbred industry and the taxpayers: a Meadowlands Racetrack sustained by private capital."

(SBOANJ)

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