A last-ditch effort to preserve racing at Hawthorne Race Course apparently fell short as a scheduled auction of the historic Chicago-area track reportedly was called off July 14 as there was only one offer—$90 million from a bidder planning to demolish the track for industrial development.
The decision is not final until U.S. Bankruptcy Judge Timothy Barnes conducts a sale hearing, set for July 20. And, should the track in fact be forced to cease racing, many operational details would need to be worked out, including the fate of some 450 employees and their families’ living on the backstretch.
The final days of bidding were cloaked in secrecy and none of the principals were immediately available to confirm the status or for comment. Several sources, however, said lawyers for Hawthorne and its many creditors had gathered to conduct the auction, only to disperse when there was no decision to be made…