July 5, 2012
The Virginia Farm Bureau Federation is negotiating to buy at least part of the State Fair of Virginia from its new owner.
Federation spokesman Greg Hicks tells The Richmond Times-Dispatch that his organization has been in talks with Tennessee-based Universal Fairs LLC. He says an announcement "one way or the other" will be made next week.
Universal Fairs president Mark Lovell bought the 150-year-old fair's intellectual property and the event site in Caroline County for $5.67 million at an auction on May 22. The previous owner, State Fair of Virginia Inc., filed for bankruptcy protection last December and later converted the case to a Chapter 7 liquidation.
The Virginia Farm Bureau was a sponsor of the fair.
Lovell told the newspaper last month that he was open to selling the property if the price is right.