This Wednesday, March 28, 2012 file photo shows an entrance to the 360-acre Meadow Event Park site, in Doswell, Va. The site is being sold at foreclosure sale after the State Fair of Virginia Inc. defaulted on more than $80 million in financing from a group of creditors. (AP Photo/Steve Helber, File)
Sunday - 5/27/2012
WASHINGTON - It's been a wild ride when it comes to the Virginia State Fair. But after it went bankrupt and its land was sold, the event got a fairy-tale ending.
The 150-year-old nonprofit fair and the event site was recently purchased by Mark Lovell, who says the fair will go on.
Lovell owns Universal Fairs, a for-profit Tennessee-based company that stages festivals and fairs. He successfully bid $5.35 million at an auction for the State Fair of Virginia's intellectual property and its real estate last week.
Lovell now owns the Meadow Event Park, where the fair moved to in 2009 from its longtime home at the Richmond Raceway in Henrico County.