NEWS
TrackNet head denies changes on horizon
Posted: Monday, December 14, 2009 6:45 PM
by Frank Angst
Despite comments by a prominent horsemen to the contrary, TrackNet Media Group President Scott Daruty said Magna Entertainment Corp. has no plans to abandon its 50% share of the company that markets simulcast signals.
At the National Horsemen’s Benevolent and Protective Association Winter Convention on December 6 in Tucson, Arizona, Florida HBPA Executive Director Kent Stirling said Magna would leave TrackNet in March. Formed in March 2007, TrackNet manages racing signal agreements for its owners, Churchill Downs and Magna, as well as other tracks.
Daruty called assertions that Magna would end its TrackNet involvement, “nonsense.”
Citing Magna Chairman Frank Stronach as the source, Stirling said Magna requested in March 2009 to leave TrackNet. Stirling said TrackNet agreements required a one-year notice prior to either partner ending involvement.
Stirling brought up the issue because of its potential to affect negotiations on signal fees between tracks, horsemen, and advance-deposit wagering outlets.
If Magna made such a request in March, it would have coincided with its filing that month for Chapter 11 bankruptcy.
Frank Angst is senior writer for Thoroughbred Times
