Three days before Turf Paradise was set to close its doors for good, the racetrack’s owner, Jerry Simms, announced during an Arizona Racing Commission meeting Thursday that he’d “entered into a letter of intent” with a new buyer by the name of Frank Nickens.

“A purchase contract is being sent this morning,” said Simms, whose previous deal to sell the Phoenix-area horse track fell through earlier this month. “The purchase and sale, he’s ready to move ahead. He said he can close in 60 days, and the structure of the agreement is for closing in 60 days.”

Simms’ disclosure came a day after the Arizona Horsemen’s Benevolent and Protective Association (AZHBPA) announced that it had reached a deal with Turf Paradise to extend simulcasting through Nov. 12 and potentially hold live racing in 2024.