LOUISVILLE, Ky. — LOUISVILLE, Ky. (WHAS11) – The Kentucky Horse Racing Commission has officially approved Churchill Downs’ bid to purchase Turfway Park in Northern Kentucky.

The $46 million deal was unanimously approved by the commission Tuesday in Lexington.

Churchill Downs is planning to tear down the existing grandstand to build a new revitalized Turfway Park.

The total cost of the plan is expected to be around $150 million.

The transformation of the 200-acre property will begin in April and they hope to have it open by 2021.

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