CDI Secures Preakness IP, Maps Pimlico Redevelopment
TL;DR Summary
Churchill Downs Inc. agreed to acquire the intellectual property rights to the Preakness Stakes and the Black-Eyed Susan Stakes from 1/ST Maryland LLC for $85 million, with closing expected after the 2026 Preakness; CDI will own the IP and license the rights to Maryland to stage the races for an annual fee, as Pimlico redevelopment plans proceed and CDI positions the Preakness within its Triple Crown portfolio beginning in 2027.
Topics:sports#black-eyed-susan-stakes#business#churchill-downs-incorporated#pimlico-race-course#preakness-intellectual-property#preakness-stakes
- Churchill Downs Inc. Purchases Preakness Stakes BloodHorse
- Churchill Downs buys Preakness intellectual property ESPN
- Churchill Downs strikes $85m deal for Preakness intellectual property rights The Guardian
- Churchill Downs to acquire Preakness Stakes for $85 million The Courier-Journal
- Churchill Downs buys Preakness Stakes: Will Triple Crown change dates? USA Today
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