$100 million in upgrades, will greet sales, fall meet, Breeders’ Cup attendees
The graceful Keeneland Paddock Building has been expanded and enhanced for more close-up encounters with the race athletes, both human and equine, and accommodations for more dining. Photo furnished by Keeneland
Since it “broke from the gate” in 1936, Keeneland racetrack has put its stylish stamp on Kentucky’s Thoroughbred industry, its ivied limestone structures and tree-lined landscapes obviously destined to become a National Historic Landmark. As the track celebrates its 90th birthday with the return of the Breeders’ Cup World Championships this fall, the Thoroughbred sales and racing facility is providing further horsepower to the Lexington-area economy.
The 2026 fall meet, held Oct. 2-24, with no Monday or Tuesday races, will be the first opportunity for racing fans to take in enhancements of the track’s largest ever capital project, Keeneland Director of Communications Gabby Gaudet said.
A $100 million investment bringing new construction and renovated guest spaces, these improvements include the 93,000-s.f. Paddock Building that now adds several new hospitality and race viewing areas, as well as the Saddling Paddock and Stakes Winner’s Circle unveiled this spring and last fall, respectively.
“How it worked was, back last fall was completion of the first phase of the renovations and the opening of the grand east entrance, the widening of the walkways. The stalls were moved as well from the far end of the paddock to underneath the new Paddock Building, and we also introduced a new Winner’s Circle,” Gaudet said.
It’s shaping up to be a busy fall at the famed racetrack. For the annual September Yearling Sale in mid-September, now in its 83rd year, people from all over the U.S. and 40 to 50 countries are expected to be among attendees to the prestigious Thoroughbred sale.
Keeneland figures released earlier this year shows the 2025 September Yearling Sale was the world’s highest-grossing Thoroughbred auction in history, when 3,078 horses fetched $531.7 million in sales.
A record 56 horses sold for at least $1 million. The overall average price of $172,755 and $80,000 median price also set records.
This year, Keeneland’s catalog will have 4,635 yearlings sold in 12 sessions.
Some who come for the sale will stay through mid-November to attend all fall events and sales there, including Breeders’ Cup, Gaudet said.
The Breeders’ Cup World Championships event alone is a significant economic driver. It returns to Keeneland this year for the fourth time.
A Keeneland visitor enjoys a moment taking in the view of the historic track’s paddock on a meet day. Photo furnished by Keeneland
Keeneland data shows the 2026 Breeders’ Cup will feature 14 championship races worth more than $34 million in purses and awards, on the heels — or hooves — of its Fall Meet Oct. 2-24. Including the undercard there will be 22 races for 2-year-old juveniles and their elders.
Last fall, when the two-day Breeders’ Cup World Championships were held in California at Del Mar Thoroughbred Club, a Sport Management Research Institute study revealed an estimated $125 million in total economic impact was generated, amidst record global wagering of $210 million with $11 million in federal and $7.6 million in state and local tax contributions.
Visitor spending totaled $38.7 million during the Del Mar event.
“Breeders’ Cup is proud to deliver not only world-class racing, but also meaningful economic impact for our host communities,” said Drew Fleming, president and CEO of Breeders’ Cup Limited in a written statement on the study’s findings. “The results from Del Mar in 2025 demonstrate the strength of our global festival, from record wagering to significant job creation and visitor spending. We’re especially encouraged by the strong tourism indicators, which show how the World Championships continue to elevate host destinations and drive long-term economic benefits well beyond Breeders’ Cup week.”
During Keeneland’s spring and fall meets, when European horses compete, for example, with them come teams of trainers and other stakeholders and care providers who will spend money locally, Gaudet said.
As far as estimates of how many people might attend the fall meet, she refers to spring meet numbers. She said Keeneland caps daily attendance to 23,000 for dining and general admission combined, and tickets usually sell out quickly — the new Paddock Building has enabled 1,000 more tickets to be available.
The last time Breeders’ Cup was held at Keeneland, about 40,000 per day attended.
All told, Gaudet said the equine industry in Kentucky has a $6.5 billion annual economic impact, supporting more than 60,000 jobs statewide, from hospitality and retail to transportation and more.
A 2024 study by Dr. Thomas E. Lambert from the University of Louisville’s departments of Equine Administration and Economics closely examined the impact of these annual events at Keeneland.
In 2023, Keeneland’s spring and fall meets and annual Thoroughbred auctions, combined with construction projects, special events, tours, retail and its library, contributed more than $1.6 billion to Fayette and neighboring counties, the study showed.
And where do these equine enthusiasts come from? The study showed 67% of Keeneland sales attendees hail from outside Kentucky, and 24% of those from outside the U.S.
The Sycamore Room in the renovated Paddock Building. Photo furnished by Keeneland
Construction projects at Keeneland provide $166.6 million in total economic impact to the metro area, the study noted, part of a $1.46 billion annual contribution to the region’s economy, and its year-round special events program along with retail, tours and library operations contribute $97.7 million to the area economy, the study found.
As the world’s largest Thoroughbred auction facility, Keeneland’s four-times-yearly Thoroughbred sales have a $1.16 billion total economic impact. Those attending spend $336 million in local restaurants, hotels and other businesses, the study showed.
Fans from all 50 states and overseas attending the spring and fall meets spend $190 million during these races, creating a $300 million total economic impact and funneling nearly $40 million into state, local and federal tax coffers.
Track operations employ approximately 250 full time and about 2,000 seasonal workers.
While Keeneland’s total economic impact only grows, City of Lexington Chief Development Officer Kevin Atkins said the Thoroughbred industry prepares fertile ground in the Bluegrass when it comes to marketing Lexington-Fayette County on a global stage.
“There’s the other side that people really don’t think about. For example, this year we get to host the Breeders’ Cup. That is two intense days that folks around the world are programmed in on Lexington — that’s (free) advertising, that’s marketing that as a community we couldn’t afford,” he said.
And after a day at the races, those guests have plenty to see and do in and around Lexington, Atkins said, noting that for some their Keeneland visit may be their first time to experience Lexington and Central Kentucky.
Lexington is fortunate, he said, to have a popular draw like Keeneland.
“They’re a great corporate partner. They’re a great partner to the community. What they give back is so much, and the impact is huge in so many ways,” he said.
Gaudet said race and sale-goers at Keeneland often soak in the full Kentucky experience, visiting horse farms, bourbon distilleries and other tourism destinations.
“I think when they come to visit Lexington, it seems like they are making plans to come back before they leave!” she said.
In 2023, Keeneland’s spring and fall meets and annual Thoroughbred auctions, combined with construction projects, special events, tours, retail and its library, contributed more than $1.6 billion to Fayette and neighboring counties. Photo furnished by Keeneland