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Maryland to acquire Preakness Stakes IP rights by matching Churchill Downs' $85M offer

Company Fundamentals
18 Jun 2026
Na
View Source
Neutral
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The State of Maryland has decided to exercise its legal right to acquire the intellectual property rights for the Preakness Stakes and Black-Eyed Susan Stakes by matching Churchill Downs Incorporated's $85 million purchase offer. This move means Maryland will own the trademarks and associated rights of these major horse racing events, previously held by 1/ST Maryland LLC. Churchill Downs remains committed to collaborating with Maryland officials to enhance the Pimlico racecourse and the Preakness Stakes' role in the Triple Crown series. This acquisition reflects Maryland's intent to keep these iconic racing events as state-owned assets, impacting the future management and development of the races and venue.

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