The State Fair of Virginia sells at auction Tuesday for over $550 million.
Mark Lovell of Tennessee-based Universal Fairs bought the State Fair of Virginia's intellectual and physical property, including the 360-acre Meadow Event Park site where Triple Crown winner Secretariat was born. He says the fair will go on this September, in the current site, as planned.
Several groups had expressed interest in buying the property.
State Fair of Virginia Inc. acquired the property in 2003 and moved the annual agricultural event from its longtime home in Richmond in 2009.