Vogel’s loan, along with a $150,000 loan from the Cloverleaf Standardbred Owners Association, provides the necessary cash flow for Rosecroft to continue operating.
Vogel is the contract purchaser for Rosecroft and expects to complete his license application in the coming week and is hopeful for a June hearing before the Maryland Racing Commission.
Kelley Rogers, President of Cloverleaf Enterprises and acting CEO of Rosecroft, appeared before the Maryland Racing Commission on Tuesday, seeking an extension of Rosecroft’s racing license. The license was extended by the Maryland Racing Commission until July 1 on a 5-1 vote.
Only embattled Maryland Racing Commission Chairman John Franzone voted against the extension of Rosecroft’s license. Franzone is the subject of inquiry regarding the validity of his Chairmanship. The Franzone controversy stems from his violation of the Maryland Business Code and this violation was recently called to the attention of Governor Martin O’Malley by Senator Anthony Muse. Franzone is expected to be removed as Chairman.
Rogers stated, “We are so grateful to Mark Vogel and his willingness to try to save this historic landmark, the 200 jobs at Rosecroft and the entire Standardbred industry in Maryland which employs more than 1,000 people.
“The hardworking employees and horsemen at Rosecroft look forward to working with Mark to bring Rosecroft back to life.”