Estridge to donate $20 million from track sale

Central Indiana homebuilder Paul Estridge Jr. plans to donate $10 million to the Central Indiana Community Foundation’s Legacy Fund and $10 million to unspecified Indiana businesses.

The donations come from the $53.5 million in proceeds Estridge is expected to receive by selling his 34-percent stake in the Indiana Downs horse-racing track to South Bend-based Oliver Racing LLC.

The sale will bring Oliver’s ownership in the Shelbyville track to 97 percent. Oliver plans to expand the Shelby County facility and add slot machines.

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