After years of delays and financial trouble, hopes are fading fast for the new Balzac racetrack in Alberta

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The United Horsemen of Alberta recently indicated that it has been forced to relinquish some of its acreage, which was allocated for the racetrack, and that the window for the organization to buy those acres back is closing.

In an episode of Calgary Eyeopener on CBC News, Jennifer Keene reports on the growing disappointment of local horseman.

"I spoke with [UHA President] Darcy Marler, he sounded quite discouraged although they are still negotiating with the joint venture partner," said Keene. "They did not have a deal in place to meet that February 1 deadline."

"We've all been clinging to hope but hope rode out on a very slow horse quite some time ago. Let's be honest and face the facts," said Cal Britton, an Alberta Director of the Canadian Thoroughbred Horse Society, who also manages a stable of horses in DeWinton. "I hate to be a pessimist but at some point you have to say, 'Guys it's over. What are we going to do now?' And these guys have had every chance in the world to make this project come to fruition and it hasn't happened. I've got to believe it's over."

"Now it ends up that I've got six little ones on the ground and another two coming that I'm just having trouble even racing them because the track isn't here," said Ray Blasetti, a long time horse owner, who began breeding race horses about five or six years ago when the prospects of a new Balzac track were high. "Every race I've got to run up to Edmonton and it's no fun anymore. If it continues like this it's going to destroy horse racing in southern Alberta completely because if everyone's like myself it's no fun raising horses and not watching them run."