Minor makes $200 mil. bid on Maryland racetracks
While his $31 million Landmark Hotel faces an indefinitely long work stoppage while he slugs it out with his lender in court, Internet entrepreneur and Charlottesville native Halsey Minor has reportedly made a $200 million bid to buy a collection of Maryland racetracks, including Baltimore's 139-year-old Pimlico Race Course, home to the second leg of horse racing's Triple Crown, the Preakness. Pimlico's current owner Magna Entertainment Corporation has filed Chapter 11 bankruptcy. That's not to say Minor has the cash on hand. Minor tells the Baltimore Sun that in order to make the deal happen, he would sell off some of his assets. In addition to the $200 million purchase, Minor would also either buy or re-structure the company's remaining $225 million debt. A judge will hold a hearing on Minor's and other bids in the U.S. Bankruptcy Court in Wilmington, Delaware on Wednesday, April 15.
–updated Monday, April 6 at 10:30am