Ahead of the 2025 Kentucky Derby, Churchill Downs Inc. has announced that it will pause a planned, multi-year renovation that only recently got underway.
The Courier Journal reported Wednesday that the nearly $1 billion project, which included changes for the legendary race track’s infield and the multi-story Skye Terrace, will be paused due to tariffs and economic uncertainty. The renovation had only been formally announced in February, with initial plans aiming for the project to be completed before the 2028 Kentucky Derby.
In a Wednesday press release, Churchill Downs Inc. cited ‘increasing uncertainty surrounding construction costs related to tariff and trade disputes as well as current macro-economic conditions’ as the reason to delay the project. However, a smaller, $25-30 million renovation of the Finish Line suites and Trophy Room was announced in the same statement, with the new project expected to be completed by April 2026.
‘The decision to pause the Skye Terrace and infield projects was a difficult one for us to make because we do not want to disappoint our fans; however, we have a responsibility to be disciplined given the recent changes in the economic environment,’ Churchill Downs Inc. CEO Bill Carstanjen said in the company’s statement. ‘We remain committed to growing our iconic flagship asset over the long term with projects that will provide new once-in-a lifetime experiences for our guests and deliver best-in-class shareholder returns.’
The planned work at Churchill Downs had the backing of local government officials, with two Louisville Metro Council members recently filing legislation that would finance the Skye Terrace work and permanent infield seating, among other things, with up to $1.2 billion in bond proceeds.
‘My hope is that when they get policy clarity at a federal level, that work will move forward,’ councilman Markus Winkler told the Courier Journal, who insisted the timing of the delay was ‘entirely coincidental.’
The pause on the renovations is expected to have no impact on this year’s Kentucky Derby, with the 151st edition of the horse race scheduled to proceed as normal on Saturday, May 3.
Kentucky Derby 2025: TV, streaming and where to watch
- When: Saturday, May 3
- Coverage starts: 2:30 p.m. ET
- Post time: 6:57 p.m. ET
- Where: Churchill Downs (Louisville, Kentucky)
- Cable TV: NBC, USA Network
- Streaming: Fubo, Peacock
Watch the 2025 Kentucky Derby on Fubo