RUIDOSO DOWNS, NM—APRIL 24, 2017— A group of five businessmen, four from Texas and one from California, and R.D. Hubbard have signed a letter of intent for Hubbard to sell Ruidoso Downs Racetrack and the Ruidoso Horse Sale Co. to the group.

In today's Monday Report (April 24), TRACK Magazine reported that the five individuals in the group are Stan Sigman, Gary McKinney, Narciso Flores, and Johnny Trotter from Texas, and John Andreini from California. All five men are heavily vested in the breeding and racing of American Quarter Horses.

"We are about to start our due diligence, and in due time we will start the process of gaining regulatory approval," said Sigman, who was elected chairman of the group. "It's our goal to close the deal in the fourth quarter of 2017."

Sigman was the former president and chief executive officer of wireless at AT&T.

Hubbard has been a leading Quarter Horse and Thoroughbred owner for several decades, and he has had ownership interests in other tracks, including Hollywood Park, Zia Park Los Alamitos and Turf Paradise. He also currently owns Crystal Springs Farm in Tularosa, New Mexico.

"I'm not about to quit racing," Hubbard told Ben Hudson of TRACK Magazine. "I still need to win the All American Futurity. We're still breeding mares and making babies. I'll be at the sales this year buying horses.

"Nothing will change at Crystal Springs, except maybe putting an All American Futurity winner in one of the paddocks," he added.

Ruidoso Downs will open its 2017 meet on May 26. Since 1959, the track has hosted the 440-yard, $3-million All American Futurity (G1), Quarter Horse racing's richest and most prestigious race.

"These men know Ruidoso Downs, and they are committed to keeping it as the best place in the nation for Quarter Horse racing," said Ruidoso Downs president and general manager Shaun Hubbard.