All articles tagged with #pimlico race course
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.
Maryland lawmakers have approved a plan to rebuild Baltimore’s Pimlico Race Course, home of the Preakness Stakes, and transfer the track to state control. The $400 million plan involves using state bonds to rebuild the facility and transferring ownership to a newly formed nonprofit. The Preakness will temporarily relocate to Laurel Park in 2026 while the new facility is being built, before returning to Pimlico. The bill addresses concerns about the state assuming liability for operating costs and aims to revitalize the historic racetrack, which has faced challenges in recent years.