Allred has been the sole owner of Los Alamitos Race Course for more than 10 years. The track was built in 1961.
"We've always believed Los Alamitos is a prime location for horse racing in California," said Allred. "I hold no personal interest in pursuing Thoroughbred dates and so it was essential for someone like Mike to step forward and take on that responsibility. I am very comfortable supporting Mike in this. This could be a wonderful opportunity for California horse racing."
Pegram said there were preliminary discussions with CDI about participating in the new project should there be a change in Hollywood Park's status. He would not say how the suggestion was received. Instead, he focused on the potential for Los Alamitos.
"What would be best for our racing business?" Pegram asked. "Do we just add more dates to the meets we already have and do more of the same, or do we try something exciting and open up a great market that could breathe some new life into our sport? If you tried to build a new Thoroughbred track in Orange County, the price of real estate alone could drive the costs over $400 million, but by expanding Los Alamitos we get a $400 million facility at a cost that makes sense for racing.""If opening up a new market like Orange County has the support of the California racing industry, we will move forward. If this project does not receive that support, we will walk away and it will be business as usual in California."Parsky Associates, an architectural and planning firm that has been involved with numerous racing projects including Churchill Downs, Hollywood Park, and Longchamp in Paris, is nearing completion of a preliminary feasibility study of the new racing surfaces as well as the location of the new barns and paddock. The completed report is expected within two weeks.
Other changes include a complete remodel of the existing grandstand and clubhouse buildings and the installation of family-friendly patron facilities in the infield.
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