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The New Jersey Thoroughbred Horsemen’s Association has cleared its final hurdle in its bid to take over management of Monmouth Park Racetrack, following a series of approvals this week by the state Racing Commission.

The New Jersey Thoroughbred Horsemen’s Association has cleared its final hurdle in its bid to take over management of Monmouth Park Racetrack, following a series of approvals this week by the state Racing Commission.

The commission on Thursday approved the transfer of the Monmouth Park operating permit from the state Sports & Exposition Authority to the horsemen, according to Dennis Drazin, who will head the new management group. The board also approved several other related items, including a measure that allows the group to assume operations at the state’s off-track wagering facility in Woodbridge.

The approvals cement a deal struck by the horsemen and the sports authority in March that allows the state to privatize the historic venue by the start of its racing season this month. The state has also privatized Meadowlands Racetrack, part of Gov. Chris Christie‘s plan to remove the state from an industry that has recorded millions of dollars in losses in recent years.

“It’s a wonderful feeling after it’s been such a struggle trying to move forward with this,” Drazin said. “There was so much uncertainty about whether racing would survive, and the horsemen are just so ecstatic that this got done.”

Drazin, who stepped down in December as chairman of the racing commission, said the state’s thoroughbred industry can “breathe easy for a change.” The state’s plan for Monmouth Park has faced several stumbling blocks, including the collapse of an earlier deal with developer Morris Bailey in December, and last month, the state faced a legal challenge from John Brunetti, a developer who had also sought the Monmouth Park contract. Brunetti ended his protest Monday, when he announced a potential partnership with the horsemen that could help revive Hialeah Park, the Florida racetrack he owns.

The state approvals also allow the new management company to proceed with other plans for developing the Oceanport venue, Drazin said. The most immediate plans include transitioning to new caterers at the facility and building a miniature golf course.

“It was difficult to go forward with the big plans until we had all of the approvals in place,” Drazin said, noting that long-term plans could include a boardwalk, a game room and a standalone restaurant.

Drazin also the group will now focus on operating the Woodbridge off-track wagering site and building others in the state. The parlors are expected to be critical, as track operators are working without state subsidies.