Blue Ribbon Downs' future
Monday, July 21st 2003, 12:00 am
By: News On 6
The City of Sallisaw wants to foreclose on one of the town's biggest employers, but a bankruptcy is holding that up.
Blue Ribbon Downs filed for bankruptcy last fall, after the city tried to foreclose on it because of an outstanding loan worth almost $3-million. The city claims the track hasn't made a payment in three years.
The city wants control of the track - to make sure it stays open. James Hudgens, Sallisaw City Manager: "When you look at the number of breeding operations and training operations in our area that make their living directly or indirectly off racing, Blue Ribbon Downs becomes an important part of our economy."
The track remains open for simulcasting 7 days a week â€“ with live racing on weekends. Track management believes it can emerge from bankruptcy - and stay open.