Bailey, who retired from racing earlier this year before making the jump to the broadcast booth, joins Steve Swindal of the New York Yankees and developer Richard Fields on the Excelsior team.

Of the announcement, Bailey said, "I truly believe that New York is the best place in the world for horse racing, and I am delighted to be part of such a great team. Excelsior Racing is committed to integrity, leadership, and experience, three qualities that embody what New York Racing can and should be. We are committed to running a world class operation that will mean vastly improved racetracks and exciting new opportunities for fans and horsemen across the board -- jockeys, owners, breeders, workers. I look forward to working with Steve Swindal, Richard Fields, and our team to make our vision for New York racing a reality."