PRESCOTT VALLEY, AZ—JANUARY 12, 2017—J and J Equine Enterprises, a Phoenix-based ownership group, has purchased Yavapai Downs in Prescott Valley, Arizona from a federal bankruptcy court for $3.22 million.

The new owners, who plan to invest millions of dollars in improvements, include Tom, Dave, and Mike Auther, Joe Jackson, and Kentucky Downs president Corey Johnsen.

The 120-acre track property includes a 90,000 square-foot clubhouse/grandstand and accommodations for 800 horses. The group say they are planning a first-rate facility that will draw on the area's growing population.

According to Johnsen the next step will be to get a racing license and simulcast license approved through the Arizona Racing Commission.

The Arizona racetrack has not conducted live racing since 2010. Daily purses at that meet averaged $32,000.

Veteran racetrack executive Ann McGovern, who has previously been in senior management at Oklahoma's Remington Park, Texas' Sam Houston Race Park and New Mexico's Ruidoso Downs, has been tapped by the new ownership to be the track's General Manager.

Dennis Moore, the track superintendent at Santa Anita Park and Del Mar and who has consulted on tracks around the world, will oversee renovation of the racing surface.