Monmouth Park to be leased, not sold for 2011 meet

Despite earlier reports that Monmouth Park would be sold to the highest bidder, Gov. Chris Christie announced Friday that he plans to ask private companies to submit bids to lease the Oceanport racetrack for the 2011 racing season.

The New Jersey Sports and Exposition Authority will issue a request for proposals to bring a long-term solution to Monmouth Park through private operation later this week, according to a statement released by the governor’s office on Feb. 25.

On Dec. 17, 2010, Christie announced an agreement to end public subsidies of operations and purses for Standardbred racing at the Meadowlands racetrack through the lease of that facility to the Standardbred Breeders and Owners Association (SBOA). Gov. Christie is looking forward to similar process with Monmouth Park and Thoroughbred racing there with the RFP for a private operator.

“We were successful in the Meadowlands, and we can do the same for Monmouth Park to the benefit of New Jersey taxpayers,” said Christie. “I want to see a vibrant but self-sustaining horse racing industry in New Jersey, but that can be accomplished without tens of millions of dollars in taxpayer subsidies every year.”