Freehold Raceway Passes the Test of Time

Many of us pass Freehold Raceway every day, but how many of us are aware of how this local landmark came into existence?

The beginnings of Freehold Raceway took emerged in 1854 when the Monmouth County Agricultural Society was formed to hold an annual fair featuring harness racing, according to its Web site. The very next year, they rented a ten-acre plot of land from Hudson Bennett, paying a mere $50.00 per annum. The Raceway we know stands there today.

Attending the races became a very popular pastime. The society purchased the original acreage and plus 10 more for $3,000. Two years later, the first grandstand was built as well as a half-mile track. Due to financial problems, the society disbanded, leaving the raceway unused until 1896 when it was taken over by 52 men calling themselves the Freehold Driving Club, according to the Freehold Raceway Web site. By 1902, they had purchased the property, refurbishing it. By 1909, major races were held during the fair and local owners utilized the track.

Interests change and by 1921 the track was underutilized and sold to Joseph Donahay for $10,000. The grandstand received another makeover. Due to laws outlawing racing, this did not prove to be a wise investment. In 1936, Harold Gould and his family purchased the track forming the Freehold Trotting Association. Gould hated the idea that people were betting on the races so the track was sold to Fred Fatzler.

Betting machines were installed and a full size result board announced the winners. During World War II, Freehold Raceway  was closed for a year. In 1944, it was all about the bet. A 24-day event at the track attracted crowds of 4000 gamblers who wagered over a million dollars. This was a great investment for Fatzler. In 1960, he sold the track to Harold and Bernard Sampson for $5 million. (Not a bad profit).

The 1960s were the heyday of racing and the track attracted record crowds. In 1965, it was sold again for $8 million to a Canadian Company. The track was expanded at this time to allow eight horses at the starting gate. In 1970, the grandstand was enclosed so that there could be racing during all seasons. 

That same year, the track was sold once more; this time to the Wilmot family. The grandstand and restaurant were rebuilt in “grand style” at $12 million. The family opened the across the road. (A place we all know well.) Kenneth Fischer, a successful horse trainer, purchased the track in 1990 and in 1994 he sold to International Thoroughbred Breeders for $23 million. In 1999, ownership changed hands again. Penwood Racing spent $46 million on the property.

The Freehold Raceway has seen many different owners of the years. It has had good times and bad times. It has passed the test of time.