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.
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