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Magna selling Pimlico, Laurel to own parent

24 March 2010

MARYLAND -- The fate of Preakness may be secured if MI Developments buys Laurel Park and Pimlico Race Course, The Baltimore Sun reports.

Magna was going to auction the two tracks this Thursday, but has come up with this deal with Canadian conglomerate MI Developments, The Baltimore Sun said.

The deal has sparked cries of "back room dealing", not least from the six other bidders, the report said.

Any agreement would have to be approved by a bankruptcy judge, the Baltimore Sun noted.

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