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Bidding War For Balmoral

Published: May 2, 2016 10:08 pm ET

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An upcoming hearing with a federal bankruptcy judge could result in Balmoral Park being sold to Rick E. Heidner’s Balmoral Holdings.

According to an article on chicagotribune.com, Heidner has offered $1.8 million for the harness track and all of its assets.

Heidner’s bid surpassed the $1.6 million offer made two days earlier by Horse Shows in the Sun Inc. of New York.

Balmoral’s assets fetched bids in excess of $770,000 in an online auction last week, but they would be included in the acquisition by Heidner if approved in Tuesday’s meeting with the federal bankruptcy judge.

Should the deal fall through or be nixed, those assets would be sold and a separate auction of the real estate would take place next month.


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