Stakeholders back SVL’s proposal for Caymanas Park purchase

Several stakeholder groups at Caymanas Park have thrown their support behind Supreme Ventures Limited’s (SVL) proposal for the outright acquisition of the facility.

SVL is still awaiting a response from the Government regarding its proposal, submitted just under a year and a half ago, for a US$100-million (approximately J$16- billion) investment over 10 years to transform Caymanas Park into a year-round racing, hospitality and entertainment complex.

President of the Caymanas Racehorse Trainers Association (CRTA), Captain Marlon Brown, said his members have agreed to support SVL’s proposal to the Government.

The decision followed a September 24 meeting involving various association heads and other stakeholders. At that meeting, it was agreed that well-known trainer and breeder Ian Parsard would act as liaison during negotiations with the promoting company, Supreme Ventures Racing and Entertainment Limited (SVREL), on a range of issues.

“Our members agreed that they’ll work with the promoter to support them in their bid to liaise with the Government, once it’s deemed that we are also taken care of. So therefore, we are in the mood to work with the promoter and the Government to see if we can move racing forward,” said Brown.

Four-time reigning champion trainer Jason DaCosta has also endorsed the proposal.

“I believe Supreme Ventures has the resources and the business sense to improve facilities, modernise the park, and basically improve racing. This property is under-utilised and no business can function this way. Horse racing cannot stand on its own, so the property needs to be developed,” he said.

Meanwhile, Solomon Sharpe, executive chairman of SVREL, reiterated some of the benefits that could flow from an outright acquisition.

“Caymanas Park currently employs four to six thousand people across the island. Once the (US) $100 million, which is the initial investment, starts, thousands more people will be employed. We want to turn this facility into a 24/7 commercial hub, where it’s fuelling the economy of Portmore, further fuelling the economy of Jamaica and providing employment,” said Sharpe.

The executive chairman also outlined the scale of the investment that could follow if the parent company’s proposal is accepted.

“We have (US) $100 million to start with and this could easily balloon to US$three, 400 million of investment, and providing more for the beautiful city of Portmore,” he added.

SVREL officially took over operations at Caymanas Park on March 7, 2017. The investment proposal was first submitted by its parent company, SVL, in June 2025.