JC / Railbird

Hollywood Deal

The Los Angeles Business Journal is reporting that the owners of Bay Meadows put in the leading bid of $275 million to buy Hollywood Park. Stockbridge Capital Partners entered the bidding process late and submitted a bid that was 10% higher than any others; it also agreed to hire Hollywood’s current owners, Churchill Downs, to manage the track for another three years, giving Hollywood Park a temporary reprieve from becoming a condo development.