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Canterbury Park, Greystone Construction Partner To Develop 13 Acres Of Canterbury Commons

Canterbury Park Holding Corporation (NASDAQ: CPHC) (the “Company”) and Greystone Construction (“Greystone”) announced Monday that the two longstanding Shakopee, Minn. companies have formed a joint venture to develop a 13-acre land parcel located on the southwest portion of the 140-acre Canterbury Commons. Canterbury Park, who is contributing 13 acres of land to the joint venture valued at approximately $261,000 per acre, will hold a roughly 62% interest in the venture. Greystone will provide development, management and construction services for the project and will hold a roughly 38% interest in the joint venture.

Canterbury Park and Greystone envision a multi-use development that will feature up to six pad-ready sites and two internal roads. Potential uses within the new 13-acre development are expected to include hospitality, dining, residential, commercial offices and service-oriented retail. In addition, Greystone, a general contractor with projects in more than 27 states, will relocate its corporate headquarters to a newly constructed 26,000 square foot office at the site. The joint venture has commenced initial site work, and Greystone intends to break ground on its new headquarters in the fall of 2020 with occupancy expected in 2021.

“From the very beginning, our vision for Canterbury Commons has been to attract residential, hospitality, commercial, entertainment and retail elements that enhance and strengthen the economy and social experiences in Shakopee and beyond,” said Randy Sampson, Canterbury Park President and CEO. “This new joint venture with Greystone represents a critical and positive step toward expanding the programming of the Canterbury Commons development beyond residential and into potential commercial, retail and dining offerings which will drive visitation to Shakopee and expand the city's tax base. We're delighted to partner with a leading Shakopee company and excited to become their neighbor as they bring their employees to Canterbury Commons in a few years.

“This is an exciting time for Canterbury and Greystone as well as the future of Shakopee, and this new joint venture represents further progress in the ongoing transformation of our excess land into a vibrant new community. This new partnership, combined with the development of the Triple Crown Residences and our two recently announced land sale agreements, is unlocking new value for the Company's stakeholders as we continue to monetize the excess real estate that surrounds the Racetrack and Card Casino at Canterbury Park.”

“Shakopee has been home to Greystone Construction since its inception in 1987. We have experienced steady growth since our modest beginning and we have designed and built projects throughout the United States,” said Kevin O'Brien, President and CEO of Greystone Construction. “That being said, it is always special to complete projects in our home town. Greystone has made its mark in Shakopee partnering with many of the great businesses located here to build facilities that provide for growth in production, services and employment. We are very excited to partner with another great Shakopee business and corporate citizen in Canterbury Park. In addition to working with Canterbury Park to develop these 13 acres, this provides us with the opportunity to build a new corporate headquarters. Growth has dictated the need for this space. However, the decision to stay here in Shakopee was based on the amenities the Canterbury Commons development plans provide. Our goal is to build a first-class corporate headquarters, which will help us attract and retain the top talent in our industry. The amenities being built in the Canterbury Commons development will help in providing the atmosphere we want to create for the Greystone Team.”

Canterbury Park and its development partners are currently transforming 140 acres of underutilized land into Canterbury Commons. Development began with the 2018 joint venture agreement between Canterbury and Doran Companies with the two-phase Triple Crown Residences of over 600 units at completion. In April 2020, the Company announced two real estate sales agreements for an aggregate 14 acres of land that will add 160 more residential units to the site. Increased access to the development site at Canterbury Commons was made possible by the completion of city streets in 2019 and the upcoming completion of Unbridled Avenue on the northern border of the property in fall 2020.

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Belmont Prop Contest: $1,000 Donated To BCCA In Name Of Winner Len Dodson

Len Dodson of California and Kenneth Badaway of Ohio each correctly selected 15 of 18 props in the Thoroughbred Idea Foundation Belmont Day Prop Contest, the best of 128 participants. Dodson's tiebreaker was closer to the actual total of the combined win, place and show pool, earning the win. A $1,000 contribution to the Belmont Child Care Association will be made in Dodson's name.

Dodson was a regular player in the 2019 TIF Summer Prop Contest, finishing in a 12th place tie in the overall standings. Rick Hammerle was the overall winner of that contest. The TIF Summer Prop Contest will return in 2020 with another big sum on the line for racing charities. More information will be shared with former players and those interested in joining in the coming weeks.

Anthony Stabile, of the Horse Racing Radio Network and part of the NYRA broadcast team, finished in a six-way tie for third in this weekend's contest, all players with 13 correct props. Another eight players recorded 12 correct props.

Below are the results of the props and the degree of support each selection received by the participants. Numbers can vary in case a prop was skipped by a participant. (Correct answer in BOLD)

1. HEAD TO HEAD: Who will have the better finishing position in the Belmont Stakes?

#3 MAX PLAYER (Actual – 3rd) (46.4%)
#4 MODERNIST (Actual – 7th) (53.6%)

2. HEAD TO HEAD: Who will have the better finishing position in the Belmont Stakes?

#1 TAP IT TO WIN (Actual – 5th) (62.1%)
#9 DR POST (Actual – 2nd) (37.9%)

3. HEAD TO HEAD: Who will have the better finishing position in the Belmont Stakes?

#2 SOLE VOLANTE (Actual – 6th) (66.4%)
#10 PNEUMATIC (Actual – 4th) (33.6%)

4. According to the published Equibase chart of the race, what horse will be last after the first half-mile of the Belmont Stakes?

#2 SOLE VOLANTE (17.6%)
#5 FARMINGTON ROAD (40.0%)
#7 JUNGLE RUNNER (27.2%)
Any other horse (15.2%)

5. According to the published Equibase chart of the race, the time for the first half-mile of the Belmont Stakes will be…

A – 46.40 seconds or faster (Actual – 46.16 seconds) (49.6%)
B – 46.41 seconds or slower – (50.4%)

6. The winner of the Belmont Stakes will be…

A – #8 TIZ THE LAW (69.6%)
B – Either #1 TAP IT TO WIN, #2 SOLE VOLANTE, or #9 DR POST (21.6%)
C – Any other horse (8.8%)

7. According to the published Equibase chart of the race, the winning margin of victory for the Belmont Stakes will be…

A – 1 ½ lengths or shorter (23.2%)
B – Between 1 3/4 lengths and 3 ¼ lengths (57.6%)
C – 3 1/2 lengths or longer (Actual – 3 ¾ lengths) (19.2%)

8. The final win odds of #8 TIZ THE LAW will be…

A – At his morning line price of 6-5 or higher (11.3%)
B – Lower than his morning line price (Actual 4-5) (88.7%)

9. Which horse will the second choice in the Belmont Stakes, according to the final chart published by Equibase?

#1 TAP IT TO WIN (5.2-1) (40.0%)
#2 SOLE VOLANTE (11.2) (37.6%)
#9 DR POST (7.9-1) (19.2%)
#10 PNEUMATIC (17.8-1) (3.2%)

10. Which number will be greater?

A – Jungle Runner's final win odds in the Belmont Stakes (29.5-1) (65.6%)

B – The total of all runs scored in the Korean Baseball Organization (KBO) games played on Sunday, June 21 (51 runs scored) (34.4%)

11. Which will be larger?

A – The sum of the finishing positions of Belmont Stakes horses ridden by jockeys having their first ride in the race PLUS 8.5 (#2 SOLE VOLANTE – Luca Panici, #7 JUNGLE RUNNER – Reylu Gutierrez, #8 TIZ THE LAW – Manuel Franco) TOTAL 25.5 (41.6%)

B – The sum of the finishing positions of Belmont Stakes horses ridden by jockeys to have won a Belmont Stakes previously (#1 TAP IT TO WIN – John Velazquez, #3 MAX PLAYER – Joel Rosario, #6 FORE LEFT – Jose Ortiz, #9 DR POST – Irad Ortiz) TOTAL 20 (58.4%)

12. Which one-mile graded stakes race on the turf at Belmont will have the faster final time, according to the Equibase chart of the race?

A – Race 4 – The Pennine Ridge (1:33.66) (71.2%)
B – Race 6 – The Wonder Again (1:34.23) (28.8%)

13. Which race will have the shorter winning margin, according to the post-race Equibase charts?

A – The Woody Stephens (3 ¾ Lengths) TIE (80.0%)
B – The Belmont Stakes (3 ¾ lengths) TIE (20.0%)

14. Which of the following results will occur in the Woody Stephens and Acorn?

A – Progeny of Into Mischief will win both the Woody Stephens (MISCHIEVOUS ALEX or SHOPLIFTED) AND the Acorn (GAMINE or LUCREZIA)? (22.6%)

B – Progeny of Into Mischief will win either the Woody Stephens or Acorn, but not both (58.4%)

C – Progeny of Into Mischief will not win the Woody Stephens and Acorn (15.2%)

15. The winner of the Jaipur will come from a trainer with a stable in…

A – New York (#4 PURE SENSATION, #6 HIDDEN SCROLL, #7 WHITE FLAG, #8 LONHTWIST) (38.4%)

B – Any other state (#1 KANTHAKA, #2 OLEKSANDRA, #3 TEXAS WEDGE, #5 STUBBINS) (61.6%)

16. How many favorites (according to the final Equibase charts) will win over the 12 races at Belmont Park?

A – Over 5.5 (TOTAL 7 Favorites) (44.8%)
B – Under 5.5 (55.2%)

17. What combination of jockeys will have the most wins on Saturday at Belmont Park?

A – Irad Ortiz Jr. and Jose Ortiz (4 wins) (43.2%)
B – Manuel Franco, Joel Rosario, John Velazquez (5 wins) (56.8%)

18. Which will occur over the course of the race day at Belmont Park?

A – No demotions by the stewards (72.0%)
B – At least one demotion as a result of a stewards' inquiry or objection (28.0%)

TIEBREAKER: What will be the total of the combined win, place and show pools of the 2020 Belmont Stakes? Total was $12,033,521

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Kentucky Derby Consignor Standings Presented By Keeneland: Knowlton’s Million-Dollar Stretch For Tiz The Law

Since we've already examined the purchase of Belmont Stakes winner Tiz the Law from the perspective of consignor Sequel New York in this series – which can be read here – this time around, we'll look at the transaction from the viewpoint of Jack Knowlton of Sackatoga Stable and trainer Barclay Tagg.

Anytime someone whispers “one more time” in the ear of the person beside them at a Thoroughbred auction, the goal is to not become the unfortunate person that let the next great racehorse slip away over a few thousand bucks.

Most of the time, that “one more time” bid isn't the one that saves a superstar from the clutches of another owner, but Jack Knowlton's $10,000 stretch over budget to land Tiz the Law at the 2018 Fasig-Tipton New York-Bred Yearling Sale swung the fate of a future Belmont Stakes winner and earner of more than $1.1 million to date.

Knowlton entered the Humphrey S. Finney Pavilion that day with a $100,000 budget targeted for Hip 311, a first-crop Constitution colt out of the Grade 2-winning Tiznow mare Tizfiz. The colt had passed every physical, pedigree, and veterinary test that trainer Barclay Tagg and assistant trainer Robin Smullen put before him, and trusting a partnership that spans 25 years, Knowlton decided to bid on Tiz the Law one more time.

“We went to $95,000, and we were going to lose him when the other guy went to $100,000,” Tagg said. “Jack didn't really want to go over $100,000, and then I looked over at him and he said, 'Go $10,000 more.' I'm glad we did…Turned out, it was a pretty good price.”

Though it was more than he planned to spend, Knowlton said the hammer price on Tiz the Law was safely within the $50,000 to $150,000 range of a normal Sackatoga Stable purchase. Based out of Saratoga Springs, N.Y., the operation buys New York-bred yearlings and 2-year-olds almost exclusively, making Fasig-Tipton's New York-Bred Yearling Sale a destination event every year.

The Sackatoga operation tends to have about four horses in the stable at any given time, so with two fillies already on the team, Knowlton sent Tagg and Smullen looking for a colt at the New York-Bred Sale. The duo was responsible for Sackatoga's private purchase of dual classic winner and champion Funny Cide as a 2-year-old, which has earned them Knowlton's unflinching trust in the bloodstock realm.

“They have many, many decades of knowledge,” Knowlton said. “I have not tried to become an expert, because I have them at my side. My role is to make sure I can raise the capital to pay for the horses they pick out. I've learned I can go through the catalogs and we'll compare notes, but because I'm pretty much using the methodology that I learned from them, most of the time, we're on 80 or 90 percent of the same horses.”

Tiz the Law was stabled in consignor Sequel New York's usual corner of Barn 6 on Fasig-Tipton's Saratoga sales grounds. Tagg said he does not have a cookie-cutter picture of what he looks for in a horse at auction, but strong conformation and athleticism are musts.

“We just really liked him because he had such good bone on him, and his conformation was very correct,” Tagg said about a yearling Tiz the Law. “When you're trying to buy horses, you're trying to get the best conformation and the soundest-looking ones you can get, and they also have to have some pedigree to go with it, depending on what you're looking for.”

The colt was one of about four horses that passed muster with Tagg and Smullen after physical inspections. After the veterinarian's report came back with high marks, he was pegged as one of Sackatoga's primary targets in the catalog. It took a little bit more than expected to get the hammer to fall, but the result was life-changing.

Looking to the future, Tiz the Law would have easily qualified for the Kentucky Derby if it had been held in May, following a dominant spring campaign, but the 272 qualifying points that the colt sits on for the rescheduled classic in September all but guarantees him a spot in the gate. Tiz the Law's class-leading number of qualifying points also put Sequel New York safely on top in the latest Kentucky Derby Consignor Standings all on his own.

It's an exciting time for Tiz the Law's connections, but there is little time to rest on one's laurels in horse racing – especially on the accelerated calendar brought about by the COVID-19 pandemic. Not long after rounding the first turn in his chase for a Triple Crown, Knowlton said he and Tagg will be headed to Timonium, Md., next week for the Fasig-Tipton Midlantic 2-Year-Olds in Training Sale, with the aim of finding the next great New York-bred to team with the best New York-bred going today.

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COVID-19 Safety Protocols In Place For Fasig-Tipton Midlantic 2-Year-Olds In Training Sale

In advance of the upcoming breeze show and 2-year-old in training sale at Timonium, Fasig-Tipton has announced the following COVID-19 protocols will be in place in accordance with Maryland regulations:

Screening measures, including temperature checks and health screening questions, will be in place to gain admittance to the sales grounds for all staff, participants and attendees;
Cloth face coverings are required in accordance with U.S. CDC recommendations;
Participants will not be allowed to congregate. At least six feet of distance must be maintained between people;
Seating capacity in the sales pavilion will be reduced below 50 percent of capacity;
No food service will be available in the sales pavilion;
Valet parking will not be available;
Increased cleaning and disinfection procedures will be implemented with regular sanitation of high touch surfaces at least every two hours;
Frequent hand washing with soap and water for at least 20 seconds is recommended for all attendees;

The health and safety of sale participants is of paramount importance. These guidelines are intended as a supplement to assist with safe operations during the COVID-19 pandemic and are subject to change.

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