Cherokees buy Blue Ribbon Downs racetrack in Okla.

Published Dec. 16, 2009 9:26 p.m. ET

foxsports

The Cherokee Nation has bought Blue Ribbon Downs in Sallisaw, Okla., less than two weeks after the previous owner shuttered the horse racing track.

The Cherokee Nation announced its purchase in a Thursday news release, but didn't disclose the sale price or say whether the track would reopen. The Choctaw Nation of Oklahoma had owned the track since 2003.

The Cherokee Nation says it has no immediate plans for the property. The tribe also owns Will Rogers Downs in Claremore.

Blue Ribbon Downs began running in the early 1960s and in 1984 became the state's first track to offer pari-mutuel racing. The track is located in a town of about 8,000 people in far eastern Oklahoma and has a history of financial struggles.

The Tulsa World first reported the sale.