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Stockholders to Vote On Sale of Churchill Directors Approve Plan to Self Derby Track to Non-Profit Group LOUISVILLE, Ky., June 1.— Directors of the American Turf Association yesterday gave their unanimous approval to the sale of Churchill Downs, home of the Kentucky Derby, and Douglas Park, also in this city, to a non-profit foundation. Col. Matt J. Winn, president of the ATA, was directed to call meetings of the stockholders and certificate holders as early as possible to vote on the proposal. According to reports, the purchaser of the plans would be the Churchill Downs Foundation, a non-profit organization founded in 1946 and which, under the proposed plan, would continue to hold spring and fall meetings as in the past at the Downs with all net profits going to the University of Louisville School of Medicine and other beneficiaries. Douglas Park is only used as a training center. At a meeting of the directors held in Chicago on April 24, the directors approved the plan and findings of a special committee of the ATA set up to study the proposal. The committee recommended that the sale be consummated. At the April meeting it was revealed that Winn indicated a willingness to manage the track for the nonprofit foundation if and when the sale took place. No sale price was announced following yesterdays meeting, but it was said it would exceed ,000,000.
