Richard Fields: Suffolk Downs
Richard Fields is the largest shareholder of Suffolk Downs Racing Track, the only thoroughbred racing track in New England. Suffolk Downs first opened in 1935 and is famous for hosting the Massachusetts Handicap, a historic race that has witnessed incredible horses including War Admiral, Seabiscuit, Whirlaway, Riva Ridge, Cigar and Skip Away. Suffolk Downs was also the location of the Beatles concert performed on August 18, 1966.
Richard Fields became the largest shareholder of Suffolk Downs in 2007. Due to financial difficulty and dwindling crowds, Suffolk Downs had not hosted the MassCap in a number of years.
Richard Fields visited the track in 2006, and felt that the historic race track could be revitalized.
"I decided I had to save New England’s last remaining Thoroughbred racetrack," Fields recalled. "It is such a beautiful place and has such history and tradition. The thought of losing it was disturbing. There were all these real estate developers circling around it, so I decided to figure out a program to save it." (Fields Day)
Upon purchasing the property, Richard Fields invested his own funds into improving the facility and promoting racing in the Boston community. Richard Fields’ extended vision is to not only return Suffolk Downs to its former glory, but to expand the race track into a family-friendly resort-style gambling and entertainment destination. Richard Fields’ vision for Suffolk Downs includes upgrading the 166-acre lot to include a four star hotel, retail shops, restaurants, and a casino. To do this, Richard Fields is pursuing gambling licenses and legislature in the State of Massachusetts.
In the meantime, Richard Fields is marketing the thrill of thoroughbred racing to New England’s younger generation. Part of Richard Fields’ efforts on behalf of Suffolk Downs is to revive the Massachusetts Handicap. In 2007, Richard Fields financed the MassCap purse with his own funds, establishing a total purse offering of $500,000. That race was won by Brass Hat. In 2008, Richard Fields attempted to put the MassCap back on the map of great race tracks by baiting the year’s two most-talked-about and undefeated horses--Curlin and Big Brown--to race against each other at Suffolk Downs for the purse of $5 million if Big Brown won the Triple Crown. Unfortunately, Big Brown lost his winning streak at the Belmont Stakes, but the offering generated substantial buzz for Suffolk Downs and the race track continues to grow.