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It’s time for decoupling
Some on this site don't care about Facts!They like to call Jeff names or make racist comments, Jeff isn't perfect & has made mistakes.But who in the world hasnt made mistakes in their life.
He has not helped racing improve at all-its there
I fully endorse the fact that Gural should have some of his investment returned to him-but if he has to take a loss-so be it-blame CC the FF-Gural AND his investors will lose money-hes not the only one.
The 20$ Million is to try to STIMULATE the breeding-have more horses to race-improve the product-that should be Gurals main thought IMHO.
I love horse racing along with 100's of others. Dont want to see it disappear. If it has to be subsidized so be it.
Keeps people employed
Racing is huge o;seas-survives on gambling-can be done here-but the v.v wrong people are in charge.
Why is the onus on him to improve racing? Should a Double A minor league baseball team be forced to seek out Triple AAA status to make the players more valuable? Of course not. BS point No1--its not on him to improve racing-but at least TRY--not run it down the shitter like he has been since in charge with his BS actions.Why should he be forced to take a loss? He took a risk that casino gambling was going to come to NJ and should be rewarded thusly. Who are you to suggest that Gural takes a loss to support other people?BS Point no 2--Everyone was happy Gural stepped up to the plate to take over racing promising to "make racing great again"-building a whole new stand etc etc--talk of a Casino later on down the road was to be the "icing on the cake" Why should Gural be responsible for "improving the product?" Some of the highest handle racing is done in straight claimers there. Do those NJSS races even see any significant boost in handle? If not, then what does Gural have an interest in as a track owner? I love lots of things. Doesn't mean I believe other people's money should be stolen to make those things stay in existence. Fallacious. If the subsidies led to a net positive gain in employment, then the theory should go that an infinite amount of money could be invested to get unemployment down to zero. It's somewhat related to the Broken Windows Fallacy of economic stimulus. BS Point no 3-Other peoples money stolen?? WTF. --Point is that Racing was to be the "cake" and Casinothe "icing" Truth is the other way around. The Casino was Gurals cake and racing the icing.If I buy a lottery ticket and dont win-can I take it back and get a refund?? Thats Gural--took a shot investing in possibility of having a Casino-didnt happen-so now wants his money back. Next point-IF he had not run racing down the shitter-thenhis profits would have been higher and had a chance to get back his investment--he lost there as well thanks to how he ran the operation and the people he employed. This is utter bullshit. It isn't just popular because the "right people are in charge". Among other things, it's ingrained culturally which it just isn't here. BS No 4--Totally wrong--I have pictures at home showing places like Yonkers,Roosevelt,Brandywine,Meadowlands-that were PACKED to the rafters with people--prizemoney higher than now-no slots. So now the "Culture" was never here so thats why we dont have any decent racing? No sir--racing has been run into the ground by mismanagement,corruption,political lynching,competition from other forms of gambling that were much better promoted,run.You have your opinion and are entitled to it--Im just stating mine.Finally, I have not been a vocal supporter of Gural in the least. I don't like his attitude and hypocrisy, but when it comes to suggesting that someone's money should be stolen or taken away to fund someone else's losing business model, that's when I start seeing a big problem.Wrong-but not wasting my time.
Gural did step up to the plate.....he risked his $$$$ I believe he is in the RED to this day...... While Meadowlands in nothing more than a mile Monti it is there....No Gural NO Meadowlands... then no thread..... Like they said in the Movie "Rounders" Pay Dee Man He deserves a profit for his risk.... that just seems to be something u guys cannot wrap your head around.... Does ANYONE actually RUN a business on this site? or get a guaranteed paycheck, welfare etc.... If u run a business you can see....if not ..... Go back to sleep.....and pray for a Racing Messiah...... PS "The Messiah" we all worship ....is a JEW!
Found this on 1 of the investors:January 20, 2012 14:35 ETClairvest to Invest in the Meadowlands Race TrackTORONTO, ONTARIO--(Marketwire - Jan. 20, 2012) - Clairvest Group Inc. (TSX:CVG) ("Clairvest"), Clairvest Equity Partners IV Limited Partnership and Clairvest Equity Partners IV-A Limited Partnership (collectively, "CEP IV") today announced a combined US$20-million commitment to invest in New Meadowlands Racetrack LLC ("Meadowlands"). The investment will be made by way of debt. Clairvest's portion of the commitment is US$5.4 million. The commitment also grants Clairvest and CEP IV warrants as well as future co-investment rights.Meadowlands is North America's premier standardbred (AKA harness) horse racing track and is located in East Rutherford, New Jersey. Opened in 1976, the track hosts harness racing and is home of the Hambletonian, the preeminent race in the standardbred racing season.Jeff Gural, Chairman of New Meadowlands Racetrack LLC said, "I look forward to working with Clairvest as we move forward with the new Meadowlands project. They have worked closely with me over the last few months and their expertise is important to our future success.""The Clairvest team is thrilled by the future prospects of the Meadowlands. We are in a unique position to support the transformation of an iconic race track and we look forward to applying our expertise in the gaming space to help Meadowlands achieve its high operating potential", said Michael Wagman, Managing Director of Clairvest Group Inc."We are also proud to have a solid partner in this venture, whose involvement is very meaningful to the positive development of the track. Jeff Gural has been a successful horse breeder and owner/operator of two racinos in northern New York State. Jeff and his team have deep industry experience, devotion to the sport and unique vision for the race track. We could not have asked for a better partner" added Mr. Wagman.Meadowlands will be Clairvest's 37th platform investment and the fifth investment by CEP IV. The Clairvest/CEP IV co-investment pool is capitalized at $467 million and focuses on equity investments in growth companies.About ClairvestClairvest Group Inc. is a private equity management firm which invests its own capital, and that of third parties through the Clairvest Equity Partners limited partnerships, in businesses that have the potential to generate superior returns. In addition to providing financing, Clairvest contributes strategic expertise and execution ability to support the growth and development of its investee partners. Clairvest realizes value through investment returns and the eventual disposition of its investments.CONTACT INFORMATIONClairvest Group Inc.Maria KlyuevDirector, Investor Relations and Marketing(416) 925-9270(416) 925-5753 (FAX)
Yes, but you will never hear Gural saying that others put up more money then he did. There are many investors that put money into the New Meadowlands & I believe Gural is not even close to being in the majority on the amount invested but all he ever says is "I" & "my" when he talks about who put up the doue.
gural didn't risk HIS money in the meadowlands. HIS INVESTORS did. And I can assure you that those investors will be biting he bullet while gural counts his betting money. gural is ONLY out for gural. ANY statements about how he wants to help harness racing is an out and out LIE.
Do you understand the first thing about investing?
According to the 2018 Clairvest annual report:Clairvest invested US$5.4 million in the Meadowlands in the form of secured convertible debentures with a stated interest rate of 15% per annum and an additional US$0.7 million in the form of preferred debt with a stated interest rate of 3% per annum. Clairvest also held warrants which entitle it to invest in equity securities subject to certain conditions.
