Racehorse TALK

The Breeders' Cup at Santa Anita is under threat of being moved to Churchill Downs.

Breeders' Cup Ltd has given Santa Anita an ultimatum to either put the bankruptcy issues surrounding its owner Magna Entertainment Corporation (MEC) behind it by the end of April or it will lose the event.

"It needs to get it done in the very near future," Cup president Greg Avioli said on Monday.

"We can't get very far beyond where we are now.

"We have contracts, hotel rooms, travel plans, a ton of logistics that can't be done until we know for sure."

Santa Anita is actually leased to the Oak Tree Racing Association at the time the Cup events are run.

"Everyone's agreed to it [the Cup at Oak Tree Santa Anita], and no one's opposed to it," said Oak Tree executive director Sherwood Chillingsworth.

"It's hard to believe that if you have every party to an issue on board with it that it won't get done.

"But a bankruptcy court is a world unto itself."

The bankruptcy case for MEC is currently in a Delaware court with a judge who is confronted with many complex issues in the case.

Meanwhile, Breeders' Cup attorneys and creditors of MEC have for some time been working on an agreement that would protect the contract for the 2009 meeting even if ownership of Santa Anita were to be transferred to another party.

If reached the agreement still would require the approval of the Delaware court.

Ron Charles, president of Santa Anita, said of a possible agreement: "I think we're really close and I think everyone including Breeders' Cup has a comfort level with it. I'm hoping we can put this to bed."

Churchill Downs has hosted the Breeders' Cup events six times and is scheduled to host the event next year as well.

© AAP 2009 Published 21/04/09