As for the famed Santa Anita track, Frank Stronach claimed his daughter Belinda wants to sell the track and get rid of racing altogether. Stronach said of his daughter and associates, “They don’t want to have racing. They want to sell the place (Santa Anita).”
The Frank Stronach vs. His Daughter
As a result of his significant wealth, Frank Stronach started The Stronach Group, which invested in and managed assets purchased from the family’s fortune. Stronach tasked Alan Ossip and his daughter, Belinda, to oversee the company.
According to Frank Stronach and his wife, Belinda took the Stronach empire and used it to her own benefit, and in turn, mismanaged its assets. Instead of dealing with this as a family, the elder Stronach decided to take his case to court.
Frank sued his daughter for $500 million in Ontario Superior Court, claiming she mismanaged the company’s assets and essentially ran it into the ground, while at the same time personally benefiting from the company. The suit also names Alon Ossip for his role in mishandling the company’s assets. Although Frank Stronach did step down from his position in the company to run for political office in Austria, he still claims he was taken advantage of by his daughter. “Control of the Stronach Group was manipulated,” he said. “I’m really the rightful owner.”
