from Lone Star Park
The city of Grand Prairie, Texas, signed an agreement with Lone Star Park June 28 to grant the racetrack $2.9 million for facility improvements to host a future Breeders' Cup World Thoroughbred Championships.
The agreement was reached after the Grand Prairie Sports Facilities Development Corp. unanimously passed a resolution 7-0 June 24 to authorize such a deal.
"This is yet another positive step toward making the Breeders' Cup World Thoroughbred Championships a reality for Lone Star Park and the city of Grand Prairie," Lone Star Park president and general manager Corey Johnsen said. "Last year, legislation was passed which earmarks up to $2 million from the state of Texas to fund improvements for a Breeders' Cup, so all necessary funding is in place."
Lone Star Park was regarded as the likely host for the traveling championship event in 2005, but recent reports have suggested that the date could be moved up to 2004.
"We are currently in negotiations with Breeders' Cup Limited to finalize a deal," Johnsen said.
Lone Star Park's capital improvement plan will enable the racetrack to expand its seating capacity from approximately 10,000 to more than 50,000. Capital improvements to the five-year-old facility could begin as early as this fall.