Bay State Raceway was founded by movie theatre magnate Elias (E.M.) Loew, Paul Bowser, and Ed Keller.
[2] When Bay State Raceway opened, it featured many modern amenities, including lights for night racing.
In anticipation that the Patriots might not be able to secure a stadium, groups from Memphis, Tampa, Seattle, Portland, Birmingham, and Jacksonville made bids for the team.
[3] In order to keep the team in New England, Loew offered Patriots owner Billy Sullivan fifteen acres of land adjacent to the track for the construction of a stadium.
[1][8] In 1990, Charles Sarkis, chairman and CEO of the Back Bay Restaurant Group and the owner of Wonderland Greyhound Park, entered an agreement to lease Foxboro Raceway.
He hoped to use the track for Thoroughbred racing (which had not been held in Massachusetts since Suffolk Downs closed in 1989) and off-track betting.
[11] Foxboro Park suffered financially due to an outbreak of an equine virus, a low level of betting, and significant cost overruns during construction.
Although the track was unprofitable, it was potentially worth millions of dollars, as the Massachusetts legislature was considering Governor William Weld's proposal to grant slot licenses to the state's four racetracks.
[19] Kraft later backed Foxboro Development Associates Limited Partnership, headed by attorney James Cobery, for the track's license, but the group withdrew its application for racing dates.