Churchill plans to expand paddock in time for 2024 Kentucky Derby
Churchill Downs will expand and renovate its existing paddock to incorporate premium seating and suites, a project that will also allow the paddock to hold more than double the number of people than it does presently, the track announced on Wednesday.
In a release, Churchill said that the renovation project will cost $185 million to $200 million and be completed in time for the 2024 Kentucky Derby. On a conference call on Thursday morning, Bill Carstanjen, the company’s chief executive, said that the costs will be recovered within eight years, due to the high prices for the new premium seating.
The interior of the paddock itself will be expanded from 5,000 square feet to 12,000 square feet, and the surrounding suites and premium areas are “expected to create 3,612 new premium reserved seats at various price and experience levels along with 3,250 standing room-only tickets,” Churchill said in the announcement. Because of the loss of some seats in the area, the net gain will be 1,400, Carstanjen said on Thursday morning.
“Premium club seating options will include dining tables, rail boxes, custom chef’s tables, cocktail service, reserved racetrack viewing areas, and access to private amenities along with unprecedented paddock views,” the announcement said.
Officials at Churchill Downs have long expressed private dissatisfaction with the size of the paddock because of the throngs of people who gain access to the area on Oaks and Derby day. Some officials have worried that the large number of people mixed with the large Derby field was courting an accident.
The project will transform the rectangular paddock into a circular stadium, somewhat akin to the paddock at some European tracks, such as Longchamp in Paris.
“We’ve got to be world-class," Carstanjen said. "We can’t have customers come from Japan and around the world and have them have a mediocre experience.”
Churchill also said in the announcement that the project will “enhance visibility of the iconic twin spires, streamline guest circulation paths, update the audio-visual experience, and create additional value for guests by updating existing ticket products and amenities.”