Maryland Stadium Authority Statement - Transfer of the Intellectual Property for the Preakness Stakes to Churchill Downs

The Maryland Stadium Authority (MSA), in partnership with the Maryland Economic Development Corporation (MEDCO) and The Maryland Jockey Club (TMJC), is overseeing the transformation of Pimlico Race Course, home of the Preakness Stakes, into a year-round racing facility and acquiring Laurel Park to serve as the training center. These multi-year investments in Maryland horse racing will bring economic benefits to the state for many years to come.

The State of Maryland has been notified by 1/ST Maryland LLC/The Stronach Group that they reached a tentative agreement to transfer the intellectual property for the Preakness Stakes to Churchill Downs. That announcement of the intended transfer does not affect the State of Maryland's or TMJC's right to full operational control and responsibility for the Black-Eyed Susan and Preakness Stakes, both of which will be held at Pimlico Race Course beginning in 2027.

For Marylanders and racing fans it is important to note this announcement does not affect TMJC's right to full operational control and responsibility starting with the Black Eyed Susan and Preakness Stakes in 2027. TMJC also controls media rights and licensing, as identified in the Master Agreement between the State of Maryland and 1/ST Maryland LLC dated June 28, 2024.