NEWS
Magna to release Dragone after Preakness
Posted: Tuesday, May 13, 2008 11:44 PM
CHRIS DRAGONE
Maryland Jockey Club photo
by John Scheinman
Maryland Jockey Club President Chris Dragone has been fired and will be replaced by longtime harness racing executive Tom Chuckas, Magna Entertainment Corp. Chairman Frank Stronach confirmed.
Dragone, 48, lasted less than six months in the job after being hired to replace popular former president, Lou Raffetto, whom Stronach dismissed when Magna bought out the remaining interest in Laurel Park and Pimlico Race Course from a partnership led by former owner Joe De Francis.
Magna hired Dragone for the Maryland Jockey Club post on the strength of his experience leading Magna-owned tracks Portland Meadows in Oregon and Great Lakes Downs in Muskeegon, Michigan.
Stronach, reached Tuesday in Moscow, Russia, said the move will be made after the Preakness Stakes (G1).
“Chris is a nice fellow, but we thought [Chuckas] had more experience,” Stronach said.
Chuckas spent 11 years as chief executive officer of Cloverleaf Enterprises, a nonprofit group that operates Rosecroft Raceway, a harness track in Oxon Hill, Maryland, near Washington, D.C.
Chuckas left Cloverleaf on February 29, and he has worked as an adviser to Stronach since May 1.
Dragone declined to discuss his dismissal.
“Right now, I’m president of the Maryland Jockey Club, and my focus is 100% on the Preakness,” Dragone said.
Chuckas, who has been working at Pimlico during Preakness week, also would not comment. Interview requests to discuss the Maryland Jockey Club’s future were forwarded to Scott Borgemenke, Magna’s senior vice president of racing.
The firing of Dragone continues a string of management shakeups in Magna dating to 2000. The Canadian company, which has lost $306.4-million the past three years, has had five different chief executives in that time with Stronach assuming the role on an interim basis three times.
The Maryland Jockey Club suffered a 24.7% drop in total all-source handle during its 59-day winter meet that concluded April 13, as wagering plunged from $291.7-million in 2007 to $219.8-million in the same period this year.
When Stronach fired Raffetto, he pointed toward the financial performance of the Maryland Jockey Club, which, until the recent drop, had been making small profits.
Chuckas is well-respected by Maryland industry leaders. He has been part of milestone agreements between Thoroughbred and harness interests, including the 15-year deal in April 2006 that ironed out agreements on cross-breed simulcast revenue sharing and other issues.
“We’ve known Tom for a long time,” said Richard Hoffberger, president of the Maryland Thoroughbred Horsemen’s Association. “Not to take anything away from [Dragone], but we always knew [he was] working at an unfortunate disadvantage. Tom’s seen what’s going on here. He’s seen what’s going on [with the legislature] in Annapolis. He knows the players. Someone from the outside, unless they bring a tremendous amount of other ability, is at a disadvantage.”
Dragone’s main achievement in his short stay was the restoration of the Pimlico Special Handicap (G1), which was not run in 2007 because of a shortfall in the purse account. The Pimlico Special purse was reduced from $500,000 to $250,000 this year, and Dragone obtained sponsorship from the Maryland Lottery.
John Scheinman is a Maryland-based correspondent of Thoroughbred Times
