Broke polo club to be sold

Owners say buyer vows season’s events go on

Saratoga Polo Association, which is undergoing foreclosure proceedings, will likely be sold to a New York City investor.

Jim Rossi, co-owner of the club with Michael Bucci, said the club is finalizing details of the sale and expects to resolve its issues with Pioneer Saving Bank, which initiated foreclosure proceedings on the club after it defaulted on a $3.2 million loan.

“In the meantime,” Rossi, who is the managing partner, wrote in a text message, “plans for the upcoming polo season and events continue and we expect no interruption of operations.”

Rossi said that the new owner “is committed to carrying on with polo activities and plans to implement some improvements to the facility in order to grow our fairly robust wedding and event schedule in 2019 and beyond.”

Rossi did not elaborate on how the Pioneer Savings Bank’s foreclosure proceedings, which were filed in Saratoga County on March 22, will affect the deal with investors. He said, however, he and Bucci will remain involved in the club’s activities including the 2019 season of medium-goal polo.

In recent decades, the 121-year-old polo club has undergone improvements including upgrades to its Whitney Field. It also erected a field-side clubhouse to serve its membership. The majority of polo spectators, however, sit on the opposite side of the field where tailgating is ubiquitous. Tickets are available for the upcoming season which will run from July 5 to Sept. 2 with matches set for 5:30 p.m. Fridays and Sundays.