Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: SUNDAY, July 18, 1993 TAG: 9307180062
SECTION: VIRGINIA PAGE: B-6 EDITION: METRO
SOURCE: Associated Press
DATELINE: PORTSMOUTH LENGTH: Medium
Virginia Racing Associates, which said earlier this month it would support plans by Churchill Downs Inc. to build the Virginia Beach track, had been expected to pump as much as $15 million into the $50 million project.
The investors' group will instead apply to build and operate a Portsmouth track for Thoroughbred and harness racing, William Miller, executive director of Virginia Racing Associates, said Friday.
Miller said his group preferred Portsmouth because the location and roads were better suited for the track. "Portsmouth has better proximity to the population - both in terms of patrons and employees," he said.
Although Miller declined to provide details about the track's size, financing or location, Portsmouth officials said the city still plans to offer a 266-acre site off Interstate 264.
The investors' group will now compete with Churchill Downs and at least four other candidates for the only license to operate a race track in the state. The Virginia Racing Association has set an Oct. 1 deadline for applications.
"We've got our work cut out for us, if we can work everything out with Portsmouth," Miller said. "We've got about 10 weeks left to prepare our application."
He said his group will meet with Portsmouth city officials on Monday.
City Manager V. Wayne Orton would not discuss the negotiations.
Thomas H. Meeker, president of Kentucky-based Churchill Downs, said he and other company officials met with the board of Virginia Racing Associates on Thursday in Richmond to discuss whether to cooperate on a venture.
"They were very open and considerate and obviously felt the Portsmouth deal was a better deal, which is fine," Meeker said. "It doesn't come as a surprise to us. There's a fundamental philosophical difference."
The splitting point was that Churchill Downs believes in a shorter racing season with higher quality horses and bigger purses, Meeker said. Virginia Racing Associates, he said, prefers a longer season with more harness racing.
Meeker said Churchill Downs remains committed to Virginia Beach and does not anticipate any problems raising money without the investors' group. The Virginia Beach track would be located on a 245-acre site near Oceana Naval Air Station and would open in 1996.
The proposed Portsmouth site, located at Fairwood Homes, would involve moving residents from the housing complex.
But James Epperson, general manager and co-owner of the Fairwood Homes complex, said he was not aware the city was still negotiating for a track. He said he was still open to selling the property but stopped negotiating with the city after Churchill Downs announced the selection of Virginia Beach.
The competition "should make a very interesting winter," Councilman Linwood Branch said. No matter which applicant wins, the Hampton Roads region will benefit, he said.
Keywords:
HORSE RACING
by CNB