An Oklahoma savings and loan has purchased financially troubled Wyoming Downs Race Track for $2.3 million, the Uinta County Sheriff's Department says.

The new owner, Heartland Federal Savings & Loan of Tulsa foreclosed on the track when the track's founder defaulted on a $5 million note. Heartland Federal's $2.3 million bid was the only one received at a sheriff's sale held Monday, said spokeswoman Anne Johnson.Heartland Federal foreclosed on founder Richard Sims and his partners after they defaulted on a mortgage on the 4-year-old track.

The Oklahoma S&L has hired well-known Chicago horse racing figure Joseph Joyce to run the racetrack and plans are being made for a Memorial Day opening.