Disturbing news from the US overnight relating to the pending closure of the famous Hollywood Park racetrack

Disturbing news from the US overnight relating to the pending closure of the famous Hollywood Park racetrack in California, reports Racing Network News.

The racetrack and surrounding land holdings was purchased by the Hollywood Park Land Company in 2005, reports the-racehorse.com.

It gave racing a guaranteed three-year commitment, but it now says “the land now simply has a higher and better use, so, unfortunately, racing will not continue here once the 2013 Autumn meet is completed.”

The site will be developed for residential use.

The Hollywood Park track is perhaps most famous for the great Seabiscuit’s win in the inaugural Hollywood Park Gold Cup.