State Fair of Virginia Sold for $5.3M

Intellectual and physical property sold at auction

Tuesday, May 22, 2012  |  Updated 3:16 PM EDT
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State Fair of Virginia Sold for $5.3M

AP

River Bronson, 5, blows his duck noise maker in front of the display of newly hatched chicks at the State Fair of Virginia on Sept. 26, 2008, in Richmond, Va. Bronson won the prize when his duck placed first in a race.

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The State Fair of Virginia has sold at auction for $5.35 million.

Media outlets report that Mark Lovell of Tennessee-based Universal Fairs bought the State Fair of Virginia's intellectual and physical property, including the 360-acre Meadow Event Park site where Triple Crown winner Secretariat was born, on Tuesday.

The auction company scheduled a news conference for later in the day.

Several groups had expressed interest in buying the property and staging this year's fair in September, as regularly scheduled.

State Fair of Virginia Inc. acquired the property in 2003 for $5.3 million, and moved the annual agricultural event from its longtime home in Richmond in 2009.

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