On Friday, December 16, New Jersey thoroughbred horsemen and the office of Governor Chris Christie laid out details for a new Monmouth Park deal after a lease agreement for the state-owned track to real estate executive Morris Bailey fell through following a dispute with the New Jersey Thoroughbred Horsemen’s Association
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According to an article on the Daily Racing Form, the pending deal will see Monmouth operate a 141-day race meet in 2012 while the state seeks new bidders for a new lease agreement.
The deal calls for purses to be based on revenue from wagering only, which is estimated to result in a sharp decline from last season's purses averaging $400,000 throughout the 71-day meet.
Gov. Christie has threatened to close the track if the deal, which was discussed Friday, is not approved by Monday.
(With files from the Daily Racing Form)
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