As major renovations continue at Belmont Park, NYRA officials expressed steadfast confidence in the project's completion by fall 2026 at a June 13 meeting of the New York State Franchise Oversight Board.
The board met for a regularly scheduled meeting following a Friday morning announcement by New York Gov. Kathy Hochul and NYRA that the Belmont Stakes Racing Festival would return to Saratoga Race Course in June 2026 as construction continues at Belmont Park in a $455 million rebuild. That announcement also noted that Belmont Park would host the Belmont Stakes (G1) in June 2027. At a prior May 28 press conference, Gov. Hochul and NYRA reported that the rebuilt Belmont will stage the Breeders' Cup Championships in the fall of 2027, marking the event's return there for the first time since 2005.
READ: Breeders' Cup to Return to Belmont Park in 2027
NYRA president and CEO David O'Rourke began the Friday meeting by discussing the recent Belmont Stakes Racing Festival at Saratoga Race Course. O'Rourke said that despite the rainy weather and lower handle, the short meet was seen as a success. He noted the rescheduling of the Manhattan (G1T) and Jaipur (G1T) stakes from the June 7 to June 8 card so that the races were run on their scheduled surface. A number of popular Belmont day wagers had to be cancelled after the two races were moved.
"(The rescheduling) hampered handle, but it was the right thing to do," O'Rourke said.
After a series of questions and debate, the board approved two projects for the Belmont Park redevelopment plan that were not included in the original 2025 capital budget. The first of those projects regarded electrical equipment at the main entrance, commonly referenced as gate 5, and the second project involved the extension of a previously approved pedestrian tunnel that would begin in the middle of the infield and end at the location of the new Belmont clubhouse. The estimated projected cost of both projects comes to $5.808 million.
O'Rourke assured the panel that the new projects would have no bearing on the construction timeline and that his team could foresee no setbacks.
"The building itself is almost completely bought, so we're running out of potential surprises. We are confident (that there will be no other setbacks)," O'Rourke said.
"This building will be delivered. This project could have moved forward without addressing (the electrical issues), but we didn't feel like that was the right thing to do. We believe the right thing to do is to set this infrastructure for the next 50 or 60 years. On the tunnel side, I defer to Glen (Kozak) as it's more just finishing off the tunnel on the clubhouse side ... I think these are both prudent decisions and good decisions. In terms of scoping out everything under this building, I'm quite proud of what this management team has done and where we're at right now and what we're about to deliver in the fall of 2026."
Glen Kozak, NYRA's executive vice president of operations and capital projects, provided an update on the overall construction of the Belmont Park redevelopment plan. Kozak said concrete is being poured, with the first and second floors of the grandstand already complete, and that utility work around the facility is currently taking place.
"The next big phase is the steel for building the superstructure," Kozak said. Steel is expected to arrive at the construction site as early as next week.
When the board questioned NYRA officials on whether there were any concerns over the country's current steel tariffs, which are as high as 50% on imports, Rob Surace, NYRA's director of capital projects, replied that the "steel is being fabricated in the United States. We're aware of the tariffs. We are trying to track (materials) as best as we can. It's difficult because (the materials are) coming from different places. So we're monitoring it, but there's no real concern at this point."
Before Kozak explained the various improvement projects made at Saratoga to the panel, he touched on the recent clubhouse kitchen fire at the track. The small fire, which broke out May 27, was quickly contained and caused minimal damage.
READ: Small Fire at Saratoga Race Course Quickly Contained
"The fire response was outstanding, and I think the collaboration (was good) between the NYRA fire investigators as well as the state and Saratoga Springs (fire department)," Kozak said. "They were very, very good at focusing in on the certain areas without ripping apart the historic building. We certainly appreciate how the firemen did their work. Fortunately, the upgrades in the fire system that have been there certainly paid off with the new fire alarm system, which was upgraded just a few years ago."
The oversight panel was then briefed by Kozak on recently completed projects at Saratoga, which included an improved clocker's stand, a viewing area for fans to watch training, and added public restrooms near the Oklahoma Training Track. Additionally, two new co-ed dormitories have been completed, while construction is expected to be finished on a women's dormitory by the Saratoga summer meet.
