LEXINGTON, Ky. (LEX 18) — The Bluegrass is mourning the loss of Former Keeneland President, Chairman, and Trustee James E. "Ted" Bassett III, who died on Thursday at his home in Lexington at the age of 103.
“Mr. Bassett was a cherished member of the Keeneland family, and while we are saddened by his passing we celebrate his remarkable life and indomitable spirit,” Keeneland President and CEO Shannon Arvin said.
A press release read that Bassett played a pivotal role in establishing Keeneland as a premiere race track and auction house during his 38-year tenure.
“Mr. Bassett was a giant internationally as a leader, visionary, philanthropist, beloved icon and friend, and one of our sport’s greatest ambassadors,” Arvin said. “Though I have no doubt he would want most to be remembered as a humble man who worked every day to enhance Keeneland, the Thoroughbred industry and his hometown of Lexington.”
The release described how in 1969, Bassett joined Keeneland as an assistant to then-President Louis Lee Haggin II. He then began his 16-year tenure as President of Keeneland Association in 1970 then was the Chairman of the Keenaland Board of Directors in 1986. He became a Trustee Emeritus in 2006.
The release listed several of Bassett's accomplishment's including establishing a series of multimillion-dollar construction projects at Keeneland, the expansion of the Keeneland Library, the growth of Keeneland sales, his many fundraising efforts, and more.
In 2019, Bassett was selected for induction into the racing Hall of Fame, being honored for his contributions to Thoroughbred racing at a national level.
The release read that Bassett loved the Lexington community and continued to work to "improve the quality of life in the Bluegrass."
“How fortunate we are to live in Central Kentucky,” Bassett said during his Life’s Work Oral History Project interview. “Not only is it the beauty of the place but the beauty of the people. The people in Central Kentucky are kind and caring.”
Bassett is survived by his sister-in-law, Anne Pinckney Gay; nephew James Edward “Ted” Gay (Alyson); nieces Elizabeth Gay Freeman (George), Charlotte Gay Stites (John Clay) and Anne Gay Donworth and many great nephews and nieces.
Funeral arrangements for Bassett are pending at this time, the release stated.
