RIVERHEAD - The Riverhead Raceway has been sold to a family from Calverton that says the location will remain a racetrack.

Barbara and Jim Cromarty sold the raceway Saturday for $4 million, rejecting offers of double that amount to buyers who wished to destroy the track.

"We have so many people that love the racing and love the track and families get so much enjoyment out of it that we just didn't want to see that cemented over," Barbara Cromarty tells News 12. "It's a very sentimental thing."

General manager John Ellwood says he's thankful to both the old and new owners that the racing tradition will continue.

"What they've done is a fantastic service, keeping racing alive here on Long Island," says Elwood.