Frank Stronach has reached an agreement with the National Thoroughbred Racing Association that will bring Magna's seven racetracks back into the organization, the NTRA and Magna said in a joint statement released late Wednesday.

The agreement, which must be approved by the NTRA board, responds to several concerns Stronach had raised about the organization. The NTRA has committed to changing the way it selects its directors, and promises to work to free racetracks from state and federal regulations.

The agreement ends a three-month dispute between the NTRA and the tracks owned by Stronach's Magna Entertainment. If Magna had not agreed to renew its membership, the NTRA's ability to act on behalf of the racing industry in the outside business world would have been threatened, and racing fans could have been shut out from watching major Triple Crown prep races run at Magna tracks on the cable television package produced by the NTRA.

Another 18 tracks have indicated that they will not rejoin the NTRA in 2001, but many of those tracks' positions will be influenced by Stronach's decision to rejoin. A dozen tracks in the mid-Atlantic, including Monmouth Park, the Meadowlands, Pimlico Race Course, Laurel Park, and Philadelphia Park, are expected to renew their NTRA memberships, although representatives of those tracks said Wednesday that negotiations with the NTRA are ongoing.

As part of the modifications, Stronach will take a seat on the board as a permanent representative of Magna Entertainment. Board seats will also be reserved for Churchill Downs and the New York Racing Association. Those three organizations, the largest in racing, had not previously been guaranteed seats. Representatives of four other racetracks would be elected regionally.

The Horsemen's Benevolent and Protective Association, the Thoroughbred Horsemen's Association, and the Thoroughbred Owners of California also get seats.

The Breeders' Cup, which merged with the NTRA this year, has also agreed to review how its 46 board members are elected. According to the statement, the Breeders' Cup will move toward a new election system that will give foal and stallion nominators votes proportional to the amount they pay into the organization.

Magna Entertainment has spent more than $350 million over the past two years to buy Santa Anita Park, Gulfstream Park, Bay Meadows Race Course, Golden Gate Fields, Remington Park, Thistledown, and Great Lakes Downs. The company has also reached an agreement to purchase a harness track and a phone wagering system in Pennsylvania from Ladbroke.