Suffolk Downs Property Remains on the Market

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Photo: Chip Bott
Suffolk Downs

There is no agreement in place to sell Suffolk Downs to a real estate developer, but the property is on the market, according to the track's management.

 

"We don't have any news." said Chip Tuttle, Suffolk Downs chief operating officer. "We've been fielding interest in the property for almost the last nine months and we told the Massachusetts Gaming Commission in November that one of the options we're exploring is the sale of the property. Nothing has changed. If and when we have any news on that front, we'll be happy to share it,"

 

Track officials have steadfastly maintained that the racing and simulcasting operations are off the table in any discussions with potential buyers and only the roughly 150 acres of prime Boston-area real estate is for sale. Sterling Suffolk Racecourse LLC's racing license is neither part of the package nor will it be offered for sale or transferred to any entity that may purchase the property.

 

Regardless of whether a deal is reached for the racetrack grounds in the immediate future, it is anticipated that it will take a minimum of two years for the completion of due diligence, engineering and other studies, and the acquisition of permits and licenses by the buyer.

 

Meanwhile, Suffolk Downs management is moving forward with plans for a limited live race meet in 2017 and in 2018. Simulcasting will continue to be operated under its aegis over at least the two-year period.

 

The track will host a 2017 live meet of six days, to be to be run on a Saturday and Sunday on one weekend each in July, August, and September.

 

In recent years, both the now-demolished Bay Meadows in Northern California and Hollywood Park in Southern California put similar deals in place, where racing continued the last few seasons at those tracks after they'd been sold to a land company while development plans took shape.