AURORA, ON, Oct. 7 /PRNewswire-FirstCall/ - MI Developments
Inc. ("MID) (TSX: MIM.B; NYSE: MIM) announced today Fasig-Tipton's
world-renowned Selected 2-year-olds In Training sale will be held
Thursday, March 3, 2011 at its Palm
Meadows training facility. The under-tack show will be held
Monday, February 28, 2011.
The Fasig-Tipton Florida sale is a market leader and attracts
the sport's top horsemen from around the world. For many years, the
sale has generated the highest gross revenue and average price
among the major select sales of 2-year-olds in training. More
stakes winning graduates have been sold at this auction than any
other currently-operating 2-year-old in training sale.
Palm Meadows, conceived and designed by Frank Stronach, Chairman of MID, is a
world-class training facility that has drawn rave reviews since
opening in November of 2002. The training facility has become the
'Winter Home of Champions," producing five of the last eight
Kentucky Derby winners and having been the winter home of Horse of
the Year and Breeders' Cup Classic winners Ghostzapper, Invasor and
Saint Liam.
"We are delighted to welcome Fasig-Tipton to Palm Meadows," said
MID's Chairman, Frank Stronach.
"This brings together two of thoroughbred racing's industry leaders
and it continues MID's commitment to enhance thoroughbred racing to
fans, horsemen, consignors and buyers throughout the world."
"We believe this is an exciting and unique opportunity to work
with MI Developments, and hold our 2011 Select 2-year-olds in
Training Sale at Palm Meadows," said Boyd
Browning, President and CEO of Fasig-Tipton. "Horsemen from
around the world will find Palm Meadows to be one of the most
beautiful and sophisticated training centers of its kind and the
sale to be memorable for its setting and talented 2-year-olds."
Palm Meadows, which can accommodate 1,325 thoroughbreds in 40
barns, is a sprawling, beautifully-manicured 286-acre facility in
Palm Beach County located approximately 45 miles north of
Gulfstream Park and only minutes from the Florida Turnpike.
"Palm Beach County is honored that Fasig-Tipton is hosting its
2-Year-Olds In Training sale at Palm Meadows thoroughbred training
center on February 28 and
March 3, 2011," said Burt Aaronson, Chair of the Board of County
Commissioners from Palm Beach County. "It will be a real boost for
our local economy as it draws in visitors from around the
world."
A portion of the proceeds from the sale will go to Blue Horse
Charities. Formed in 2001, Blue Horse Charities assists in
providing a humane solution for thoroughbreds no longer suitable
for breeding or racing. The charity is funded by buyers, consignors
and Fasig-Tipton.
About MID: MID is a real estate operating company engaged
primarily in the acquisition, development, construction, leasing,
management and ownership of a predominantly industrial rental
portfolio leased primarily to Magna International Inc. and its
automotive operating units in North
America and Europe. MID
also acquires land that it intends to develop for mixed-use and
residential projects. Additionally, MID owns Santa Anita Park,
Golden Gate Fields, Gulfstream Park (including an interest in The
Village at Gulfstream Park(TM), a joint venture with Forest City
Enterprises, Inc.), The Maryland Jockey Club (via a joint venture
with Penn National Gaming, Inc.), Portland Meadows, AmTote and
XpressBet(R), and through some of these assets, is a supplier, via
simulcasting, of live horseracing content to the inter-track,
offtrack and account wagering markets. For further information
about MID, please visit www.midevelopments.com or call
905-713-6322.
Other Information: For other information about MID, such as
financial data and other publicly filed documents, please visit the
Canadian Securities Administrators' Systems for Electronic Document
Analysis and Retrieval (SEDAR), which can be accessed at
www.sedar.com or the United States Securities and Exchange
Commission's Electronic Data Gathering, Analysis and Retrieval
System (EDGAR) at www.sec.gov .
Forward-Looking Statements: This press release may contain
statements that, to the extent they are not recitations of
historical fact, constitute "forward-looking statements" within the
meaning of applicable securities legislation. Forward-looking
statements may include statements regarding MID's future plans,
goals, strategies, intentions, beliefs, estimates, costs,
objectives, economic performance or expectations, or the
assumptions underlying any of the foregoing. Words such as "may",
"would", "could", "will", "likely", "expect", "anticipate",
"believe", "intend", "plan", "forecast", "project", "estimate" and
similar expressions are used to identify forward-looking
statements. Forward-looking statements should not be read as
guarantees of future events, performance or results and will not
necessarily be accurate indications of whether or the times at or
by which such future performance will be achieved. Undue reliance
should not be placed on such statements. Forward-looking statements
are based on information available at the time and/or management's
good faith assumptions and analyses made in light of our perception
of historical trends, current conditions and expected future
developments, as well as other factors we believe are appropriate
in the circumstances, and are subject to known and unknown risks,
uncertainties and other unpredictable factors, many of which are
beyond MID's control, that could cause actual events or results to
differ materially from such forward-looking statements. Important
factors that could cause such differences include, but are not
limited to, the risks set forth in the "Risk Factors" section in
MID's Annual Information Form for 2009, filed on SEDAR at
www.sedar.com and attached as Exhibit 1 to MID's Annual Report on
Form 40-F for the year ended December 31,
2009, which investors are strongly advised to review. The
"Risk Factors" section also contains information about the material
factors or assumptions underlying such forward-looking statements.
Forward-looking statements speak only as of the date the statements
were made and unless otherwise required by applicable securities
laws, MID expressly disclaims any intention and undertakes no
obligation to update or revise any forward-looking statements
contained in this press release to reflect subsequent information,
events or circumstances or otherwise.
SOURCE MI Developments Inc.
Copyright t. 7 PR Newswire