Frank Stronach, the owner of Magna International, the world's largest auto parts supplier, and Magna Entertainment Corp., which runs the thirteen other racetracks he has already purchased across the nation, plans to build a new venue to replace Bay Meadows, a San Mateo racetrack that is closing because its land is too valuable to use for racing horses.

Stronach has proposed building a 225-acre horseracing and boarding facility in Dixon's northeast quadrant, south of Interstate 80 near Pedrick Road. The $150 million project will include satellite wagering, shopping and entertainment.

Dixie Downs is part of Stronach's long-term goal to create a multimedia horseracing network. Magna Entertainment has purchased 13 racetracks in the last three years, including Golden Gate Fields, Bay Meadows and Santa Anita in California.