Churchill Downs Statement: Purchase and Sale Agreement with Chicago Bears for $197.2 Million

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Arlington International Racecourse 2200 West Euclid Avenue Arlington Heights (SOURCE: Imagery ©2021 Google, Imagery ©2021 Maxar Technologies, U.S. Geological Survey, USDA Farm Service Agency, Map data ©2021)
Arlington International Racecourse 2200 West Euclid Avenue Arlington Heights (SOURCE: Imagery ©2021 Google, Imagery ©2021 Maxar Technologies, U.S. Geological Survey, USDA Farm Service Agency, Map data ©2021).

LOUISVILLE, Ky., Sept. 29, 2021 (GLOBE NEWSWIRE) — Churchill Downs Incorporated (“CDI” or “Company”) (Nasdaq: CHDN) announced today that the Company has signed a Purchase and Sale Agreement with the Chicago Bears. The Company has agreed to sell the 326-acre property in Arlington Heights, Illinois, (“the Property”) currently the home of Arlington International Racecourse, for $197.2 million. The closing of the sale of the Property is subject to the satisfaction of various closing conditions. The Company anticipates closing the sale of the Property in late 2022 / early 2023. CDI is planning to use the proceeds of the sale to purchase or invest in replacement property that qualifies as an Internal Revenue Code §1031 transaction.

Arlington Park Grandstand on Saturday night, September 26, 2021
Arlington Park Grandstand on Saturday night, September 26, 2021.




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