CNet founder wants to buy, resurrect Hialeah Park

[sumitas]

Gulfstream probably would close down if Hialeah opened up.

[SlewsMyHero]

If Mr. Minor can do it right and is able to secure the prime Winter dates of January and February, Hialeah could be one of those short boutique meetings that becomes a destination for vacationers. I realize it's not in a good area, but sometimes it just takes a prime attraction to revitalize an area. Something like what Oriole Park at Camden Yards did for downtown Baltimore. A casino and a state-of-the-art racebook for simulcasting customers could keep the dollars coming in during the off season.

I also like the idea that Steve Byk put forth about adding Hialeah to the Breeders' Cup rotation.

[SentToStud]

First, there is nothing wrong with the city of Hialeah. If you leave Gulfstream and walk across Federal Hwy, it is every bit as funked up as Hialeah. Maybe more so.

Second, just how are they going to get late fall or winter dates? Is Tropical (which leases Calder for the fall dates) just going to give away their days? Is Stronach, after spending $300,000,000, going to walk away?

Third, the place is now a total dump. $75,000,000 to get it ready sounds cheap.

Fourth, this is only a story because the land is worth 1/2 of what it was worth 2.5 years ago. Brunetti has been sitting on the place for seven years and turned down every offer. Now, he's screwed.

When pigs fly.

[Cannon Shell]

Originally Posted by SentToStud

First, there is nothing wrong with the city of Hialeah. If you leave Gulfstream and walk across Federal Hwy, it is every bit as funked up as Hialeah. Maybe more so.

Second, just how are they going to get late fall or winter dates? Is Tropical (which leases Calder for the fall dates) just going to give away their days? Is Stronach, after spending $300,000,000, going to walk away?

Third, the place is now a total dump. $75,000,000 to get it ready sounds cheap.

Fourth, this is only a story because the land is worth 1/2 of what it was worth 2.5 years ago. Brunetti has been sitting on the place for seven years and turned down every offer. Now, he's screwed.

When pigs fly.

Am correct in that he doesnt even actually own the land, he just holds a 99 year lease or something like that?

[SentToStud]

Originally Posted by Cannon Shell

Am correct in that he doesnt even actually own the land, he just holds a 99 year lease or something like that?

I don't know.

What would the difference be?

Originally Posted by SentToStud

I don't know.

What would the difference be?

The owner could let him out of his lease if the land
was worth bundles with buyers waiting.

So in essence, there is very little difference.
Right now.

[Cannon Shell]

Originally Posted by SentToStud

I don't know.

What would the difference be?

The difference is that if he doesnt actually own the land, and the City of Hialeah does it may make things easier or more complicated. I really dont know.

[Cannon Shell]

And arent the racing days in FL deregulated so if Hialeah was brought back they could run against either GP or Calder, not that that would be a great idea.

[SentToStud]

Originally Posted by Cannon Shell

The difference is that if he doesnt actually own the land, and the City of Hialeah does it may make things easier or more complicated. I really dont know.

I guess that is true. They and the feds can make it complicated anyway since the track is a designated national landmark.