Stronach

Stronach

Postby Catalina » Sat Feb 03, 2018 12:32 am

Per Austrian newspaper Kurier, Frank Stronach is trying to sell his Magna Racino complex at Ebreichsdorf and fully withdraw from Austria (he already dropped out of Austrian politics). The paper does not expect a quick sale as the land is zoned for equestrian/horse racing use and as such is not generating that much money. Rezoning to residential would be more profitable, but is doubtful at best - the area lies within a nature preserve.
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Re: Stronach

Postby BaroqueAgain1 » Sat Feb 03, 2018 12:58 am

Is it possible that even Frank's deep pockets have been reduced enough by the Pegasus that he's needing to liquidate some holdings? :P
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Re: Stronach

Postby Catalina » Sat Feb 03, 2018 1:21 am

His political ambitions to get his new party (and thus presumably himself) into the Austrian parliament probably cost a fair penny as well. Maybe he figures that the political climate in the US is now far more favorable and that he'll have a chance for the job of racing czar, if that ever comes to pass.
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Re: Stronach

Postby stark » Sat Feb 03, 2018 11:44 am

He's still listed as a billionaire on Forbes list so we probably don't need to start up a gofundme page quite yet. (unrelated update, Maria B. still has a $20 balance in her account)

I'm of the opinion that when we reach age like 85 like Frank is we tend to make financial decisions that benefit our kids with little or no interest in achieving our personal long term goals. It's all part of cashing in our chips, nothing more.
I've found it easier to tear up tickets at 8/1 instead of 8/5.
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Re: Stronach

Postby Catalina » Sat Feb 03, 2018 1:19 pm

And here I thought that was something that kicked in by 81 or 82...

With the future of the Ebreichsdorf complex in question, I am doubly glad that the old established harness track (trotters) at Baden has managed to hang on.
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Re: Stronach

Postby Kurenai » Sun Feb 04, 2018 7:33 pm

If you think Trump is sometimes bizarre in interviews, I wish you would have seen some with Stronach. :lol: He never stayed on topic and didn't do too well. With Ebreichsdorf... that was bound to happen. There is a really beautiful racetrack right in Vienna (Freudenau), he wanted to develop there, but the problem was that it's a historic monument, so there was no way to tear it down (thank god, cause it is really beautiful, so are the stables) and build new tribunes etc. Could have been modernized without tearing it down, but he wanted a state of the art racetrack (like in the US). So he went 1 hour outside of Vienna and built it there. Needless to say very few people at all ventured there. And what can I say? Last September they held a racing meet at the Freudenau in Vienna (the old track). Aaaaand it was packed full.
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Re: Stronach

Postby Kurenai » Sun Feb 04, 2018 7:37 pm

Picture of the old track. It's been there since 1839!
Image
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Re: Stronach

Postby Northport » Sun Feb 04, 2018 9:57 pm

He has been withdrawing assets from Austria since his political party started to wane in popularity in 2014 and ultimately proved to not be the success he had hoped. It's not cashing in chips or a liquidation, he asked Austria how much it supported him, and he wasn't happy with the answer.
weeeeeeeee
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Re: Stronach

Postby Catalina » Sun Feb 04, 2018 11:40 pm

Northport wrote:He has been withdrawing assets from Austria since his political party started to wane in popularity in 2014 and ultimately proved to not be the success he had hoped. It's not cashing in chips or a liquidation, he asked Austria how much it supported him, and he wasn't happy with the answer.


That (little or no support) was pretty much also the impression I got. I don't think he was ever viewed as a viable political choice, at least not in my circle of friends.
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Re: Stronach

Postby Catalina » Mon Feb 05, 2018 1:07 am

Kurenai wrote:Picture of the old track. It's been there since 1839!
Image


That photo looks more like the old flatracing track Galopprennbahn Freudenau in Vienna, which is some 50 years older than Trabrennbahn Baden. But the Freudenau track has been dark, I think by now for some years. The adjacent trotting track (Krieau, also in Vienna) may still be active.
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