OKLAHOMA CITY (AP) — A contract has been reached for the Choctaw Nation of Oklahoma to sell the state’s first pari-mutuel horse racing track, according to a document filed with the Oklahoma Horse Racing Commission.

According to a letter sent to the commission on May 28, the Durant-based American Indian tribe has entered into the contract with Furlong Perfecta, LLC, to sell Blue Ribbon Downs in Sallisaw in far eastern Oklahoma. The sale price is not mentioned in the letter.

A tribal spokeswoman said Thursday she cannot reveal the identity of the potential buyer. According to incorporation papers filed April 18 with the Oklahoma Secretary of State’s office, Benita Bowen of Washington County, Ark., is the manager of Furlong Perfecta, which is based in Tulsa.

Bowen, who is the co-owner of a horse farm in Tontitown, Ark., did not immediately return a phone message left by The Associated Press.

Blue Ribbon Downs began running in the early 1960s and in 1984 became the first track in Oklahoma to offer pari-mutuel racing. After voters approved State Question 712 in November 2004, a casino began operating at the track, in hopes it would help boost purses for horsemen.

The track has a history of financial struggles. Its former owner, Race Horses Inc., filed for bankruptcy in 1997, and again in 2002, the latter time after falling into debt with the city of Sallisaw. The Choctaw Nation bought Blue Ribbon Downs for $4.25 million in November 2003, one day before the track was to be sold at a sheriff’s auction.

Constantin Rieger, who became the state racing commission’s executive director in 2004, said Blue Ribbon Downs “has lost a million dollars a year ever since I’ve been here.”

The Choctaw Nation tried unsuccessfully last year to sell the track to an undisclosed buyer. Tribal spokeswoman Judy Allen said that through the years, “several potential buyers have come to the table, but none of the prospective sales have come to fruition.”

Still, she said, “we are very hopeful” that this time, a sale will be finalized.

The letter to the commission from Bob Rabon, the tribe’s general counsel, noted that the state racing commission would have to approve the transfer of ownership and that “an application for the approval will be submitted as soon as it can be prepared.”

Rieger said the tribe has not presented any other documents to the commission regarding the sale.

“We’re just awaiting the next step,” he said.

The commission will meet on June 18, at which time it will consider the track’s request for an extension to apply for its 2010 racing license. That application was due on June 1. Rieger said he did not know if Blue Ribbon Downs officials planned to talk more about the sale during that meeting.

Once the identity of the potential buyer is known, Rieger said, the commission would investigate the suitability of the buyer to operate the track, a process he said could take 60 to 90 days. The commission then would decide whether to approve the sale of the track.

Blue Ribbon Downs is located just off Interstate 40 in Sequoyah County, about 20 miles from the Arkansas border.

Blue Ribbon Downs is one of two horse racing tracks in Oklahoma up for sale. Remington Park in Oklahoma City also could be sold as part of the bankruptcy proceedings involving Magna Entertainment Corp., its current owner.