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Ownership Transfer On Track In NJ

Published: June 20, 2011 10:15 am ET

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New Jersey Sports and Exposition Authority Chairman Michael Ferguson has gone on the record as saying that the process which will see the Meadowlands Racetrack and Monmouth Park be taken over by private investors is still on track.

Jeff Gural is currently driving on with his plan of taking over control of the Meadowlands while Morris Bailey is doing the same in regard to Monmouth Park.

“We are making substantive progress for private operations at both the Meadowlands and Monmouth, and we are hoping and expecting to execute those leases in the very near future,” Ferguson was quoted as saying in an article by The Record.

The report also states that a number of racing related bills are scheduled to be discussed today in Trenton. One of the bills is would see the NJSEA share management of the tracks with Gural and Bailey’s group during a transitional period until the new owners are completely licensed by the New Jersey Racing Commission.

(With files from The Record)

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