According to a report out of Niagara Falls, the Fort Erie Race Track is up for sale.

Officials with the Fort Erie Live Racing Consortium that were operating the historic and picturesque raceway were courting investors for the thoroughbred border oval in the fall of 2012, but FELRC CEO Jim Thibert has told niagarafallsreporter.com that it is his job "to do something with that property, regardless (of whether there is live horse racing at the venue or not)."

The report states that the value of the entire property is anywhere from $15 to $17 million. The property encompasses 338 acres in total, although only 100 are used for the racetrack.

“It is developable land convenient to the Queen Elizabeth Way and is across the Niagara River from the United States," Thibert was quoted as saying. "However, it is also easier to keep what is currently there than to find a new investor to purchase it…. I’ve tried to get someone to come in and buy the property, let us keep the track running, and use that as a major attraction.”

The article also explains that the FELRC has applied to host a total of 81 cards of live horse racing at the track in 2013, even though the current slots-at-racetrack agreement is set to expire on March 31 of this year.

The report has cited Thibert as saying that the track can stay open if a buyer can be found.

The 115-year-old Fort Erie Race Track was the area's largest employer, having been the root of income for 850 workers.

(With files from niagarafallsreporter.com)