NEW KENT, Va.--Colonial Downs host steeplechase racing during its summer meet, an important part of the schedule for trainers.

Steeplechase racing at Colonial DownsIt has  been announced that Churchill Downs, Inc. is now set to buy Colonial Downs, along with several other horse racing facilities in Virginia.

A Tuesday morning release from CDI put the value of the deal at $2.485 billion.

This deal should not affect steeplechase racing at the New Kent track.

"Steeplechase racing is written into the law in Virginia,"said Jack Fisher, president of the Temple Gwathmey Steeplechase Foundation. "The Virginia Equine Alliance started before racing began in the state, so horsemen had a strong voice."

"Churchill Downs might even be more favorable to steeplechase racing," said Fisher. "Most of the officials at Colonial were not favorable towards steeplechasing, so hopefully Churchill will be better, maybe use us to promote their product,"

Steeplechase racing is scheduled to begin at Colonial Downs in early July.