Hollywood film director Steven Spielberg has spent $12 million saving a Los Angeles riding club from property developers
The Sullivan Canyon Riders Club has been saved from property developers after film director Steven Spielberg and his wife, actress Kate Capshaw agreed to buy the land it occupies.
The community equestrian club had been leasing the 8.3 acre site in Brentwood, Los Angeles, from the Los Angeles Unified School District. Open to members of the public it charges an annual fee of $350 per rider and $500 per horses.
It was reported that the club’s rent was substantially lower than the property tax and, after the school was criticised for providing “welfare for the rich”, it put the site on the market for $12 million.
The club then formed a preservation association in an attempt to buy the land. Without a cash injection they faced the prospect of having to sell the majority of the land to raise funds.
Steven Spielberg and his wife, who is a keen rider, stepped in with a deal to provide the club with the necessary money. The couple will retain a 3/4 acre site next to his private home.
A spokesperson for Steven Spielberg said: “The donation allows the club to purchase the property they had been leasing and maintain the site as open space accessible to horseback riders.”
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