Historic Freehold Raceway Park Sold, Ending 171 Years of Horse Racing

After 171 years of hooves pounding its dirt track, Freehold Raceway Park closed its gates in December of 2024. Raceway RE Partners bought the 58-acre site, marking the end of an era in New Jersey sports.

"This land holds generations of memories — an incredible 171 years of horse racing took place here — and we intend to honor that legacy while introducing a new destination for all," said Jake Lebowitz.

While the sale price remains private, tax records show that the land was worth $21.9 million in 2025. Back in 1999, FR Park Racing paid $46 million for the track.

The sale marks a shift in ownership from FR Park Racing, a team-up between Penn Entertainment and Greenwood Racing. Now, just two racing spots remain in New Jersey.

The new owners plan to transform the space. Their vision includes shops, dining spots, and a hotel. The site will become a hub where people can walk, meet, and join community activities.

Thoroughbreds still sprint at Monmouth Park in Oceanport. The Meadowlands track keeps both types of racing alive, thoroughbred and harness, in East Rutherford.

Fresh plans call for unique stores and top-notch food spots. A social club will join the mix, too. These changes aim to keep the spot active while giving locals new places to enjoy.

Since 1853, this track has stood as America's oldest racing ground. It's closing marks the end of a rich chapter in New Jersey's past, where countless races thrilled spectators through nearly two centuries.