Prominent horse owner Mike Pegram has offered to support the city of Del Mar financially in the municipality’s effort to purchase the Del Mar fairgrounds in an exchange for a 55-year lease to operate the Del Mar racetrack on the fairgrounds.
In an interview on Sunday, Pegram said that if the $120 million proposed sale is successful he would like to expand the number of racing days annually from the current seven-week summertime schedule and commit additional revenue toward capital improvements, such as widening the turf course and upgrading the backstretch.