Horse Racing News by Matt Hegarty

Oak Tree will run a meet at Santa Anita this fall under a tentative deal reached on Tuesday during a meeting of the California Horse Racing Board at Hollywood Park.

Paddy O'Prado, the third-place finisher in this year's Kentucky Derby, has the resume to deserve favoritism in the Grade 2, $500,000 Colonial Turf Cup on Saturday at Colonial Downs in Virginia.

The Breeders' Cup will announce on Friday morning that the organization's 2011 year-end event will be held at Churchill Downs in Louisville, according to an official who has knowledge of the organization's plans.

Trainer Michael "Buster" Millerick, jockey Don Pierce, and Harry Bassett, a horse who was a champion in 1870 and 1871, have been elected to the National Museum of Racing's Hall of Fame.

Betting and attendance figures for the first five days of the Monmouth Park meet have far exceeded the expectations of the track's operator and the racing officials.

New York Gov. David Paterson has proposed legislation that would allow the New York Racing Association to borrow $25 million from a line of credit that is being offered to fund construction of a casino at the association's Aqueduct racetrack.

The New York Racing Association notified its employees on Thursday that it will close its three racetracks beginning June 9 if the association does not receive financial assistance from the state, the association said.

Ernie Paragallo, once one of the leading owners of Thoroughbred racehorses in New York, was sentenced to two years in Greene County jail and assessed a $33,000 fine.

Legislation that would advance $17 million to the New York Racing Association for operations is being held up by concerns raised by the state's budget division over the how the advance would be funded, according to NYRA officials.

Jeremy Noseda, the trainer of Gotham Stakes winner Awesome Act, said he believes a wet track would benefit his horse in Saturday's Kentucky Derby.