Horsemen and State Reach Deal on Monmouth Park

Negotiations came down to the wire, but a deal has been reached between the state and a horsemen's group to keep open in 2012, according to a report from the Asbury Park Press.

New Jersey Thoroughbred Horsemen’s Association, a West Long Branch-based group of owners and breeders, and the New Jersey Sports and Exposition Authority (NJSEA) agreed to a one year deal around 10:30 p.m. Monday, just beating .

According to the article, daily purses at the track will average between $150,000 and $170,000 if the Oceanport track is open for 141 days, and there is no guarantee of a in 2012.

Rebidding for a long-term lease is expected to take place over the next month.

About this column: Everything you need to know about "The Shore's Greatest Stretch," Oceanport's historic thoroughbred racetrack.